Indian benchmark equity indices pared early gains and settled lower after a volatile session on Thursday due to selling in index heavyweights Reliance Industries and HDFC Bank.
The BSE Sensex closed 180.96 points or 0.28 per cent lower at 65,252.34. The NSE Nifty declined 57.30 points or 0.29 per cent to settle at 19,386.70.
Top Stocks To Watch On 25 August:
One97 Communications (Paytm)
The fintech major’s promoter Antfin is likely to sell 3.6 per cent stake or 2.3 crore shares through a block deal on 25 August, reported Bloomberg. The floor price for the deal is likely to be at Rs 880, a discount of 2.7 per cent to Thursday’s closing price.
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Adani Group
The ports to power conglomerate said cash and profit generated from its infrastructure business can cover all the debt maturing each year in the coming decade. In a credit report released on Thursday, the company said it its cash flow generated from business operations and balances stood at Rs 77,890 crore as of March 2023. It provides enough liquidity to cover debts that will mature within a year.
Vedanta
The mining company has been granted an arbitration award upholding the company’s contention in Rajasthan block case the contention of the company is that the additional profit petroleum is not payable according to the production sharing contract for Rajasthan block. The profit petroleum is linked to the Director General of Hydrocarbon (DGH) audit exceptions in relation to allocation of common development costs across Development Areas and certain other matters.
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