Top Stocks to Watch On August 20: Bajaj Auto, Zomato, IndusInd Bank, DCM Shriram, HCL Tech, Saraswati Saree Depot, Tata Consumer Products, Poly Medicure

Top Stocks to Watch On August 20: On Tuesday, August 20, Indian benchmark indices Sensex and Nifty50 are likely to start the day in the green. The GIFT futures are highly expected a good start.

The GIFT futures recorded 64 points higher than the Nifty50 futures at 24,659 levels.

On August 20, there are some best stocks that you should watch today. Some of them are Bajaj Auto, Zomato, IndusInd Bank, DCM Shriram, HCL Tech, Saraswati Saree Depot, Tata Consumer Products, and Poly Medicure.

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Let’s get into more detailed insights about these companies:

Bajaj Auto

The automotive manufacturing company reported that it will add Rs 211 crore to its financial provision for deferred tax because of the recent changes in the Finance Act, 2024.

This change came after the indexation benefit on long-term capital gains from debt mutual funds purchased before April 1, 2023, and also applicable tax rate went down.

Zomato

On Tuesday, Antfin Singapore plans to sell 13.6 crore shares which is 1.54% of the total equity shares through a block deal.

IndusInd Bank

The private sector bank reported that the RBI has allowed it to build a wholly-owned subsidiary that totally focuses on asset management business for mutual funds.

The proposal to add equity capital to its newly formed asset management subsidiary was approved by the bank.

DCM Shriram

On August 19, the company ordered a new Hydrogen Peroxide (H₂O₂) plant at its chemical factory in Jhagadia, Bharuch District, Gujarat.

This new Hydrogen Peroxide (H₂O₂) can handle 52,500 tonnes per year and will use the hydrogen that is produced in the same site.

HCL Tech

The IT service company reported that starting from September 6 Shiv Walia is the new Chief Financial Officer of the company. The decision comes after the resignation of Prateek Aggarwal who left the company to pursue other opportunities.

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Saraswati Saree Depot

On Tuesday, Saraswati Saree Depot stocks were listed on BSE and NSE. The shares of the company are trading with a grey market Premium (GMP) of Rs 46 before the listings. The share set a price band of Rs 160 per equity share and is likely to list at a 29% premium against its issue price.

Tata Consumer Products

On August 19, the company ceased its rights issue at Rs 818 per share. The company plans to raise up to Rs 3,000 crore.

Poly Medicure

The Medical Devices company reported that on Tuesday it issued Qualified Institutional Placement (QIP) at a starting price of Rs 1,880.69 per share, these shares worth Rs 1,000 crore.

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