July 21, 2024

Housing Finance Development

It's Your Housing Finance Development

Stocks to watch: Zomato, HUDCO, Exide Industries, Lupin, Paytm, Kotak Mahindra Bank, Azad Engineering – Market News

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded up by 122 points or 0.56% at 21,792, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 gained 213.40 points or 1% to settle at 21,654.75, while the BSE Sensex ended higher by 701.63 points or 0.98% to 72,038.43.

“The Nifty experienced a significant rally as Put writers amassed substantial positions at 21500. Additionally, the daily chart showcased a breakout from consolidation. The Relative Strength Index (RSI) indicates a bullish crossover, coinciding with the index positioned above a crucial moving average. Looking ahead, the index potentially aims for a range between 21750-21800 on the upside, with support resting at 21500,” said Rupak De, Senior Technical Analyst at LKP Securities. 

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Zomato, the food delivery giant, has received a show cause notice from GST authorities amounting to a tax liability of Rs 401.7 crore. The alleged tax is related to delivery charges collected between Oct. 29, 2019, and March 31, 2022. Zomato contends that it is not liable for the tax as the delivery charge is collected on behalf of delivery partners.

Tata Power and Power Grid

Power Finance Corp (PFC) subsidiary Bikaner III Neemrana II Transmission has been transferred to Tata Power for Rs 18.60 crore, while Neemrana Il Kotputli Transmission goes to Sterlite Grid 32 for Rs 18.59 crore.


Housing and Urban Development Corp (HUDCO) has signed an MoU with the Gujarat government for an investment of up to Rs 14,500 crore. The funds will be allocated to finance housing and urban infrastructure projects.

Exide Industries

Exide Industries invests Rs 40 crore in its subsidiary, Exide Energy Solutions, bringing the total investment in the arm to Rs 1,820.01 crore.

Power Grid 

Power Grid Corp acquires Bikaner III Neemrana Transmission in Rajasthan through tariff-based competitive bidding for Rs 18.82 crore.

Affle India

Affle India approves a non-binding MoU to invest Rs 37.3 crore for a minority ownership stake in Explurger.

GE Power

GE Power India secures orders worth Rs 10.47 crore from NTPC for generator spares and Rs 9.91 crore from Bokaro Power Supply Co. for spare parts supply.


Lupin receives approval from the USFDA for its abbreviated new drug application for Loteprednol Etabonate Ophthalmic Suspension.

Kotak Mahindra Bank

RBI approves the appointment of CS Rajan as the part-time chairman of Kotak Mahindra Bank for a two-year term, effective Jan. 1, 2024.


One 97 Communications reports merchant payments worth Rs 912 crore using Paytm in Q2 FY24.

Canara Bank

Canara Bank approves the process of listing its mutual fund subsidiary, Canara Robeco Asset Management Company, through an IPO.

KPI Green Energy

KPI Green Energy and its subsidiary commission solar power projects totaling 17.35 MWp.

Azad Engineering

Azad Engineering’s shares debut on the stock exchanges at an issue price of Rs 524 apiece. The Rs 740 crore IPO was oversubscribed 80.65 times on its final day.