Domestic equities are expected to open slightly lower on Wednesday, August 21, tracking weak global cues. At 07:53 AM, the GIFT Nifty futures were trading 11.50 points, or 0.05%, lower at 24,689.50 levels.
Here are some stocks that may remain in focus today:
Zomato
Alibaba Group’s Antfin Singapore sold shares worth ₹4,772 crore ($570 million) in Zomato on Tuesday, cutting its stake by nearly half in the food and grocery delivery platform to 2.2%. Antfin, which had a 4.3% stake in Zomato as of June 30, sold the shares in two separate block deals at discounted prices.
Cyient
The IT firm’s board has approved the sale of a 14.5% stake in subsidiary Cyient DLM through a block deal. The floor price is likely to be set at ₹748.65 per share, a 5% discount to its closing price on the NSE.
Genus Power
Genus Power Infrastructures announced that its wholly-owned subsidiary has received three Letter of Awards (LOA) worth ₹3,608.52 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs).
Exide Industries
The company invested approximately ₹75 crore in a wholly-owned subsidiary to set up a greenfield plant in Bengaluru.
