Stocks to Keep an Eye on: ACC, Nykaa, Adani Group, Maruti, ONGC, and Concord Biotech

Stocks To Watch On August 18: Nifty futures rose 17.5 points, or 0.09 percent, to 19,300.50, indicating Dalal Street was likely to have a good start on Friday. These stocks will be the subject of today’s attention for a variety of reasons.

Concord Biotech: The stock is anticipated to begin trading favorably. At the opening bell, the Grey Market Premium (GMP) predicts a rise of 10% to 15%. Investors responded well to this Rekha Jhunjhunwala-backed IPO, with the offering being subscribed 24.9 times.

Five companies will be removed from the Nifty Next 50 index as of September 29: ACC, HDFC Asset Management Company, Nykaa, Indus Towers, and Page Industries. Trent, TVS Motor Company, Shriram Finance, Punjab National Bank (PNB), and Zydus Lifesciences will take their position.

Adani Group: According to reports, the Gautam Adani-led organization flew a few financiers to Gujarat’s Mundra Port to highlight its private port and discuss the company’s solid financial situation and development ambitions. After months of damage control in the wake of the US shortseller Hindenburg report in January, the trip is Adani Group’s most recent attempt to calm markets.

Axis Bank: On August 17, the RBI accepted Subrat Mohanty’s appointment as the bank’s executive director for a three-year term.

JSW Steel: The firm is looking to buy up to a 75% share in Teck Resources’ Elk Valley Resources, which mines coal for steel production. A Bloomberg article states that the proposed transaction might be worth $8 billion for the company.

Power stocks: Due to increasing temperatures as the monsoon retreats throughout the nation, India reached a new high in power demand on Wednesday, hitting a record 233 Giga Watts (GW). Up to October, there is expected to be a high level of power consumption. According to experts, continued hot weather will keep the demand for power rising. As a result, coal consumption would increase.

ONGC: In an effort to become a participant in the low-carbon energy market, the state-owned oil exploration wants to spend Rs 1 lakh crore by the end of this decade in low-carbon energy alternatives, including renewables and green hydrogen.

Adani Transmission: For an unknown sum, Adani Energy Solutions, previously known as Adani Transmission, has acquired a transmission project that is still in the planning stages from Megha Engineering & Infrastructures.