Top Stocks to Watch On August 23: Shriram Finance, Nykaa, Ambuja Cements, Wipro, Jain Irrigation Systems, Adani Power, RailTel Corp, SBI Life Insurance

Top Stocks to Watch On August 23

Top Stocks to Watch On August 23: On August 23, the Indian Stock market is likely to begin the day slowly because of the weak market peers.

The GIFT Nifty futures are expected to begin the day with a flat start as the stock is priced 6 points below the Nifty50 futures at 24,834 levels.

On August 23, Some of the top stocks to watch today are Shriram Finance, Nykaa, Ambuja Cements, Wipro, Jain Irrigation Systems, Adani Power, RailTel Corp, and SBI Life Insurance.

Let’s take a look at these stocks in more detail.

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Shriram Finance

The NBFC reported on Thursday that the Competition Commission of India (CCI) has given approval for the sale of Shriram Housing Finance Investment Ltd's full stake.

Nykaa

The e-commerce company reported that Harindarpal Singh Banga and associates are expected to sell up to 1.4% of their share in the beauty and wellness e-commerce site.

These shares will be sold at a minimum price of Rs 198 each. JPMorgan Chase & Co. and Goldman Sachs will facilitate the sale.

Ambuja Cements

Holderind Investments which is the promoter of the company will soon sell 2.84 percent shares in Ambuja Cements worth Rs $500 million through a block deal.

The minimum set price for the deal is Rs 600 per share, which is a discount of 5% from the previous price of Rs 631.80 on August 22.

Wipro

Wipro reported that the John Lewis Partnership had chosen to lead a complete transformation and modernization of the UK store's IT infrastructure.

The partnership aims to make JLP a leading company in the field and build a technology framework of the company for the future and help it grow in a more sustainable way.

Jain Irrigation Systems

On Thursday, the company reported that it had signed a Memorandum of Understanding (MoU) for the approval of the commercial release of advanced, high-quality coffee plants that are resistant to disease.

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Adani Power

The company reported that the National Company Law Tribunal (NCLT) Hyderabad Bench has given its approval to purchase Lanco Amarkantak Power Ltd (LAPL) for Rs 4,101 crore.

This order was made by NCLT on August 21 and was shared on their website on the following day.

RailTel Corp

The Uttar Pradesh Police Recruitment and Promotion Board has sent a work order to the company worth Rs 52.66 crore.

SBI Life Insurance

The Deputy Excise and Taxation Commissioner of Rohtak, Haryana, Department of Goods and Services Tax, has sent a claim for GST including interest and penalties of Rs 239.27 crore to SBI Life for the fiscal year 2020.

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