3 days ago
Indian stocks in focus ahead of August 31 trading
Several Indian companies made announcements that could affect their share prices on August 31.
Royal Orchid Hotels is seeking a licence for a discotheque at its Bengaluru property.
Cupid plans to set up a manufacturing venture in South Africa with a local partner.
Mahindra & Mahindra expanded its battery-payment programme for electric SUVs.
PVR INOX opened a new six-screen cinema in Bengaluru.
Aurobindo Pharma said a US FDA inspection found three procedural observations at a subsidiary facility.
KP Green Engineering won new orders worth ₹258 crore.
Ola Electric was approved to receive ₹95.81 crore in government incentives.
Nifty 50 rose 0.35% to 24,175 and Sensex gained 0.43% to 77,261 on August 28.
Cupid received in-principle approval to establish a South African manufacturing venture with a local partner.
Mahindra & Mahindra expanded its Battery-as-a-Service programme across its electric Origin SUV portfolio.
KP Green Engineering secured ₹258 crore in fresh orders, taking current-year intake to ₹497.64 crore.
Ola Electric received ₹95.81 crore under the automobile and auto-components Production Linked Incentive Scheme.
- Who
- Royal Orchid Hotels, Cupid, Mahindra & Mahindra, PVR INOX, Aurobindo Pharma, KP Green Engineering, Dhanuka Agritech, Ola Electric Mobility, Axiscades Technologies and Patel Engineering.
- What
- The companies announced licences, ventures, product expansions, facility inspections, orders, incentives, acquisitions, subsidiaries and stake transfers.
- Where
- The developments involve India, Bengaluru and Andhra Pradesh, as well as South Africa and Ireland.
- When
- The developments were reported after market hours ahead of Monday, August 31; the market data cited is from Friday, August 28.
- Why
- The announcements may influence investor attention and trading in the companies’ shares.
Key facts
- Nifty 50 close
- 24,175, up 0.35% on August 28
- Sensex close
- 77,261, up 0.43% on August 28
- Cupid venture
- Cupid may hold up to 49% in a South African manufacturing venture
- M&M battery programme
- The effective battery usage cost starts at ₹3.75 per km for the BE 6 SPORTEQ
- PVR INOX expansion
- A new six-screen cinema increased its network to 1,786 screens across 356 properties in 113 cities in India and Sri Lanka
- KP Green Engineering orders
- Fresh orders worth ₹258 crore; current financial-year intake reached ₹497.64 crore
- Ola Electric incentive
- ₹95.81 crore sanctioned under the Production Linked Incentive Scheme
- Axiscades acquisition
- A 90% stake in Cloud Wave Technologies approved for approximately ₹234 crore in cash
Sources
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