CNBC-TV18's top stocks to watch out for on August 22

SUMMARY

Indian shares are likely to open little changed on Thursday amid muted trades in global markets and after RBI said weak domestic economic growth prompted an unusual rate cut decision. Asian shares rose marginally following gains in US stocks on the back of strong retail results. Benchmark indices BSE Sensex and NSE’s Nifty 50 fell in the previous session dragged by metal, banking and FMCG stocks. At 7.30 AM, the SGX Nifty futures traded 22 points, or 0.22 percent, lower at 10,910, pointing to a muted start for the Sensex and the Nifty 50.

By CNBC-TV18Aug 22, 2019 7:34:29 AM IST (Published)

Hindustan Petroleum: HPCL is planning to invest around Rs 74,000 crore over the next five years to expand capacity, with around Rs 14,900 crore planned in the current fiscal, chairman Mukesh Kumar Surana told shareholders. The company has undertaken capacity expansion at refineries at Visakhapatnam and Mumbai. The company also plans to build second-generation ethanol production facilities and market compressed bio-gas.

CG Power: Sebi said it has gathered details about alleged financial irregularities at CG Power and Industrial Solutions and is looking into the matter. The lapses include advances to related and unrelated parties as well as liabilities of the company and the group potentially being understated by hundreds of crores of rupees.

NMDC: The Mines Tribunal issued a stay order against Karnataka government’s decision to withdraw the extension of NMDC’s mining lease of Donimalai Mine. Moreover, the company cut iron ore lump and fines prices by Rs 200 per tonnes from August 20.

BHEL: India Ratings and Research has affirmed the company's long-term issuer rating at 'AA+'. However, the outlook has been revised from 'Stable' to 'Negative'.

Infosys: The IT major expanded its partnership with Google Cloud to become a Google Cloud Managed Service Provider. As a qualified MSP, Infosys will offer clients full application lifecycle services with its deep cloud and data analytics expertise.

Dilip Buildcon: The board of directors will meet on August 26 to consider the proposal for divestment of wholly owned subsidiaries of the company.

LIC Housing Finance: Fidelity Management is planning to sell a stake in the company, reported CNBC-TV18, citing sources. (Stock Image)

Coffee Day: ITC Group denied that the company was in the race to acquire Coffee Day Enterprises though it was approached for a deal. An ITC spokesperson said, "ITC receives enquiries from market participants on an ongoing basis which are suitably evaluated. One such enquiry was received from an intermediary on Cafe Coffee Day. However, no progress was made on the matter."

JMT Auto: Q1 consolidated loss narrowed to Rs 0.85 crore against a loss of Rs 9.2 crore a year ago. Total revenue declined to Rs 121.55 crore from Rs 141.2 crore in the same period last year.(stock image)

Kansai Nerolac Paints (KNPL): Business Transfer Agreement has been entered into by and between Nerofix Private Limited (incorporated in terms of the joint venture agreement, paid-up equity share capital of which is held by KNPL and Polygel in the ratio of 60:40), Polygel, Promoters of Polygel and KNPL.