Top Stocks to Watch Today: Big Moves by UltraTech Cement, AU Small Finance Bank, Vedanta, Paytm, and More

Here’s a quick overview of the stocks that are likely to grab attention in today’s trading session:

Bondada Engineering:

Bondada Engineering has landed a major project worth ₹575.74 crore. The project was awarded by Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy, which are special-purpose entities created by Paradigm IT Technologies and Metalcraft Forming Industries.

UltraTech Cement:

UltraTech Cement has successfully raised $500 million through a sustainability-linked loan involving six banks, showing its commitment to sustainable practices.

AU Small Finance Bank:

DSP Mutual Fund bought a 1.39% stake in AU Small Finance Bank at ₹630 per share, while Fincare Business Services sold a 1.7% stake at the same price.

Vedanta:

Vedanta, led by Anil Agarwal, has raised ₹30,000 crore through various financial strategies, including a qualified institutional placement (QIP), offer for sale (OFS), and dividends. This fund is aimed at reducing debt and exploring growth opportunities. In Q1, Vedanta’s profit after tax jumped 54% year-on-year to ₹5,095 crore, with record alumina production at Lanjigarh and a 20% reduction in production costs. As of June 30, Vedanta’s debt was ₹6,130 crore.

Medi Assist Healthcare Services:

Medi Assist Healthcare’s subsidiary, Medi Assist Insurance TPA, has signed agreements to acquire 100% of Paramount Health Services & Insurance TPA from Fairfax Asia and the Shah family. This acquisition will increase Medi Assist’s market share to 36.6% in the group segment and 23.6% of the health insurance industry by premiums managed.

Medplus Health Services:

Lavender Rose Investment has sold its entire 11.35% stake in Medplus Health Services at an average price of ₹616.48 per share. ICICI Prudential Mutual Fund acquired a 4.3% stake at ₹616 per share, and the Government of Singapore bought a 0.97% stake at ₹616.2 per share.

Alembic Pharmaceuticals:

Alembic Pharmaceuticals has received approval from the USFDA for its generic version of Betamethasone Valerate Foam, used to treat moderate-to-severe psoriasis of the scalp. This formulation is equivalent to Luxiq Foam (0.12%) by Norvium Bioscience.

Paytm:

Paytm has clarified that recent media reports about a SEBI notice are not new and were already disclosed in its financial results for the quarters ending March 31, 2024, and June 30, 2024.

PI Industries:

PI Industries’ Board of Directors has appointed Sanjay Agarwal as the Group Chief Financial Officer, effective August 26, following the retirement of the previous CFO, Manikantan Viswanathan.

HCL Technologies:

HCL Technologies has announced an extension of its partnership with Xerox, focusing on AI-driven engineering services and digital process operations. HCLTech will support the newly formed Xerox Global Business Services organization in achieving key business metrics.

Repro India:

Investor Ashish Kacholia sold a 1.22% stake in Repro India at an average price of ₹625 per share, while JVS Joyrass Holdings acquired a 0.7% stake at the same price.

Lemon Tree Hotels:

Lemon Tree Hotels has signed an agreement for a new property, Lemon Tree Hotel in Civil Lines, Ayodhya. The 80-room hotel is expected to open in FY28 and will be managed by its subsidiary, Carnation Hotels.

UCAL:

UCAL, a manufacturer of automotive components, has signed a Memorandum of Understanding (MoU) with Blaer Motors to collaborate on the design and development of electronic components, including motor controllers ranging from 500 watts to 2 kilowatts.

KPI Green Energy:

KPI Green Energy’s subsidiary, Sun Drops Energia Private Ltd, has received letters of intent for solar power projects totaling 13.30 MW. These orders were awarded by Sumicot, Ekta Prints Private, Radhika Fabrics, and Sanjopin Industries.

GPT Infraprojects:

GPT Infraprojects has launched its qualified institutional placement (QIP) issue with a floor price set at ₹183.83 per share.

Brightcom Group:

Brightcom Group reported a net loss of ₹24.2 crore for the quarter ending December 30, 2023, with revenue dropping 85% year-on-year to ₹453.2 crore. The company attributes its poor performance to challenges like the war in Israel, the exit of its CEO and CFO, negative media coverage following a SEBI order, and concerns raised by auditors about financial statements and shareholding disclosures. Brightcom Group shares are suspended from trading, and the company has yet to release results for the March and June quarters.