Adani Power, JSW Energy, Vodafone Idea, and Other Stocks to Watch Today, August 17

On the strength of fag-end buying in index heavyweights Infosys L&T and Mahindra & Mahindra despite a mixed trend in global markets, Indian benchmark stock indexes Sensex and Nifty recovered from the day’s low to conclude higher for the second consecutive session on Wednesday.

The BSE Sensex increased 137.50 points, or 0.21 percent, to close at 65,539.42 during a tumultuous day. To end at 19,465, the NSE Nifty gained 30.45 points, or 0.16 percent.

“The Indian market saw early volatility as a result of initial anxiety resulting from an above-expected rise in domestic CPI inflation, which was caused by rising food costs. The possibility that this inflation increase is temporary, however, allayed fears, which allowed the market to rebound in the closing minutes of the trading session, according to Vinod Nair, Head of Research at Geojit Financial Services.

Additionally, the market did not expect a rate increase as core inflation continued to decline, while a protracted rate halt seemed more likely. While Asian markets responded to the rate decrease announced by the Chinese central bank, stronger-than-expected retail sales figures in the US and worries about future rating downgrades of US banks led to choppiness in Western markets, he said.

Leading Stocks To Watch On August 17:

Indus Power

GQG Partners, an Australian-listed investment company, invested Rs 9,000 crore ($1.1 billion) in Adani Power on Wednesday by purchasing an 8.1% share via a series of block agreements from Adani Power.

JSW Power

On August 16, according to the Economic Times, GQG Partners purchased JSW Energy shares for the second consecutive day on the open market. According to the report, GQG Partners Emerging Market Fund purchased 10,284.024 shares, or 0.6% of JSW Energy, for Rs 351 crore at a price of Rs 341.70 a share. The investment company paid Rs 411 crore on Monday to purchase more than 1.2 crore shares at a price of Rs 345 each.

Verizon Wireless

As negotiations with possible investors go into the due diligence phase, the telecom business anticipates finalizing deals to secure outside stock and bank-led investment in the following quarter, according to CEO Akshaya Moondra. “I believe we are moving forward well. We anticipate wrapping up the equity fundraising conversations in the next quarter, he responded to questions on a teleconference with investors on Wednesday after the release of the results for the June quarter.

Cipla

An FDA license provided to the pharmaceutical company’s production plant in Patalganga, Maharashtra, was suspended for 10 days in December due to non-compliance with good manufacturing procedures. The business is now submitting an appeal to the state government about the order.