Stocks in Focus Today :Today i.e. on 23 August 2024, some stocks (stocks in news) are ready to show action. Due to positive triggers, these stocks can remain in focus in the market today (stocks to watch). If you are looking for better stocks in intraday, then you can keep an eye on these (Stocks in Focus). Today’s list includes stocks like Zomato, Airtel, Ambuja Cement, Nykaa, Adani Power, Kalpataru Projects, Shriram Finance, Bandhan Bank, SBI Life Insurance Company, RailTel Corporation of India, Bharat Forge, Spandana Sphoorty Financial, Jain Irrigation Systems, Alkem Laboratories, Eris Lifesciences, Kalyan Jewellers India.
Zomato
Zomato, a company that delivers food products on online orders, has decided to shut down its inter-city service ‘Legends’ with immediate effect. Under the Legends service, Zomato used to supply famous products of select cities to other cities. Zomato’s Chief Executive Officer (CEO) Deepinder Goyal said on social media that despite 2 years of effort, when this product was not found to be suitable for the market, we have decided to shut it down with immediate effect.
Airtel
The GST Appellate Authority has directed Bharti Airtel to pay GST of Rs 194 crore on license fee and spectrum usage charges to the Department of Telecommunications. The case is related to the GST tax demand of Rs 604.66 crore by the Goods and Services Tax (GST) Department under the reverse duty arrangement on license fee (LF) and spectrum usage charges (SUC) based on the GST demand notice issued by the Department of Telecommunications.
Ambuja Cement
Adani Group promoters may sell their 3 percent stake in Ambuja Cements. This is part of regular adjustment to maintain the stake at the desired level. A source said that the promoters will sell about 7 crore shares (2.84 percent stake) in the cement making company for Rs 4198 crore ($ 500 million). The offer price is Rs 600 per share, which is 5 percent lower than Thursday’s closing price of Rs 632.90 on BSE.
Nykaa
According to media reports, Harinderpal Singh Banga, a pre-IPO investor in Nykaa, is likely to sell 1.4 per cent stake in the beauty and personal care platform. The stake sale is expected to happen at a minimum price of Rs 198 per share. Harinderpal Singh held a 6.4 per cent stake in Nykaa as of the end of the June quarter.
Adani Power
Adani Power, a company of the Adani Group, said that the National Company Law Tribunal (NCLT) has approved the plan to acquire Lanco Amarkantak Power Limited (LAPL) by making an advance payment of Rs 4101 crore. Adani Power said in a notice to BSE that Lanco Amarkantak Power Limited is currently undergoing debt resolution process under the Insolvency and Bankruptcy Code.
