CNBC-TV18's top stocks to watch out for on August 29

SUMMARY

Indian shares are likely to open lower on Thursday, tracking weak Asian stocks, as intensifying US-China frictions are likely to weigh on investor sentiment. However, losses are likely to be limited, with the government announcing a big relief on the FDI norms, by allowing 100 percent foreign investment in contract manufacturing and coal mining, and also easing sourcing norms for single-brand retailers. At 7:00 AM, the SGX Nifty futures traded 0.20 percent lower at 11,026.

By CNBC-TV18Aug 29, 2019 7:23:42 AM IST (Published)

InterGlobe Aviation: IndiGo approved alteration in Articles of Association of the company as a special resolution. Meleveetil Damodaran is appointed as Independent Director and Anil Parashar as Non-Executive Director.

Sugar Stocks: Cabinet approved export subsidy for exporting 60 lakh metric tonne of sugar. Sugar export subsidy will go directly to farmer accounts.

Lakshmi Vilas Bank: Parthasarathi Mukherjee has resigned as managing director and chief executive officer of the Lakshmi Vilas Bank. Mukherjee quit citing personal reasons, the bank informed the bourses late in the evening. Mukherjee's resignation comes ahead of Lakshmi Vilas Bank's proposed merger with Indiabulls Housing Finance.

Infosys: The IT company strengthened collaboration with Microsoft to offer new solutions for clients to accelerate digital transformation.

Indiabulls Housing Finance: The company's shareholders approved up to Rs 1.5 lakh crore NCDs in FY20.

Piramal Enterprises: The board decided to defer the issue of privately-placed NCDs worth up to Rs 3,000 crore, to a future date.

L&T Finance Holdings: IIFL Wealth Group to acquire the company's wealth management business.

Wockhardt: India Ratings and Research downgraded long term loan facilities to IND BB+ from IND BBB-, with the outlook remaining Negative due to refinancing risks, R&D expenses, and regulatory overhang.

Balaji Amines: Subsidiary Balaji Speciality Chemicals completed REACH Registration process for Ethylenediamine.

Coal Stocks: 100 percent FDI through automatic route allowed in coal mining & sale, coal mining & associated infra and contract manufacturing.