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Domestic equity benchmarks Nifty50 and Sensex tumbled one per cent each on Tuesday, amid a sell-off across sectors, as investors fretted over the imminent additional US tariffs of 25 per cent on Indian exports to America. With effect from 9:31 am India time on Wednesday, the additional levy took effect, taking the total duty on Indian exports to the US to 50 per cent.
As investors await the next trading session on Dalal Street, here are a number of stocks set to be in focus on August 28.
Corporate action
Add Zee Business as a Preferred Source
Aster DM Healthcare, Gujarat Pipavav Port, Jyothi Labs, Vedant Fashions, P&G Hygiene, Route Mobile and Speciality Restaurants are some of the stocks set to trade ex-dividend at the opening bell on Thursday.
Nectar Lifesciences
The company has said that the Mohali CGST department has rejected its refund claim of about Rs 3.5 crore relating to fees paid with interest for closing advance licenses.
Sterling and Wilson Renewable
The company has received an order from the Tamil Nadu GST department for a tax shortfall of about Rs 5.7 crore during January–April 2019. Sterling and Wilson Renewable plans to appeal the order, which, it said, is not likely to impact it financially.
MTNL
The PSU has not been able to deposit the third semi-annual interest payment for its Bond Series VIIID into the escrow account due to inadequate funds.
The payment was due by September 6.
Jaiprakash Power Ventures
Jaiprakash Power Ventures is evaluating proposals to set up a solar PV power plant with an estimated investment of about Rs 300 crore, including a 50 MW unit in Bina, Madhya Pradesh.
Texmaco Rail & Engineering
The company has formed a JV with Rail Vikas Nigam (RVNL) for rail manufacturing and infrastructure. RVNL will hold 51 per cent in the JV while the remainder will be with Texmaco.
HG Infra Engineering
The company has said that its subsidiary, HG Narol Sarkhej Highway, has received a financial close notification for a Rs 781.11 crore six-lane road upgradation project in Gujarat under hybrid annuity mode.
Dr Agarwals Eye Hospital
The company has approved a preferential issue of about 1.328 lakh shares, at Rs 5,270 apiece, to Agarwal’s Health Care.
GR Infraprojects
G R Infraprojects has secured a Letter of Intent from REC Power Development for a Rs 367 crore transmission project in Madhya Pradesh.
HCLTech
The IT major’s arm, HCLSoftware, has launched Sovereign Collaboration Solutions for business-critical infrastructure.
Samvardhana Motherson International
Samvardhana Motherson International has incorporated a subsidiary, Motherson Manufacturing Services, for manufacturing, trading and services across industries.
Websol Energy Systems
Websol Energy Systems’ board will meet on September 1 to consider a stock split proposal.
Bandhan Bank
The lender has said that Divya Krishnan’s tenure as Director on Bandhan Financial Holdings ended on August 27.
HAL
The defence PSU is expected to sign an agreement with US-based GE Aerospace in September for 113 fighter jet engines.
SBI Card
The card issuer has announced plans to launch co-branded credit cards and related benefits across platforms Flipkart, Myntra, Shopsy and Cleartrip.
Dr Reddy’s Labs
The drug maker has received interim stay from the Telangana High Court on income tax reassessment proceedings related to its merger with DRHL.
Mahindra Logistics
The company’s CFO Saurabh Taneja has resigned, effective September 19.
Biocon
Biocon Pharma has received tentative USFDA approval for Sitagliptin tablets for treatment of blood sugar.
Tata Steel
The Tata group steelmaker has acquired shares worth Rs 3,104 crore in subsidiary T Steel Holdings Pte.
Oil companies
Oil India and BPCL have formed a joint venture to supply CNG and PNG in Arunachal Pradesh.
Bajaj Finserv
Bajaj Finserv has formed a subsidiary in the US through Bajaj Finserv Direct to provide technology services to American clients.
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