Indian share market is expected to open in the red as trends in the SGX Nifty indicate a negative start for benchmark indices BSE Sensex and NSE Nifty 50 with a loss of 215 points. “Nifty might continue with its consolidation as global economic data points towards weakness, while brent crude has again crossed $100/bbl and dollar index continues to remain firm at 108 levels. On the other hand, FII buying amidst weak global cues and revival of demand ahead of festive season is providing support at lower levels to the market. The big event of US Fed Jackson Hole meeting could set the path for interest rate hikes and thus provide some direction in the near term,” 

Stocks in focus on 29 August, Monday

Reliance Industries: RIL will hold its 45th Annual General Meeting today. The meeting will start at 2:00 pm, with addresses and presentations expected from Chairman Mukesh Ambani and other board members. Investors will look for updates around last year’s announced plans to build four giga-factories to make solar modules, hydrogen electrolyzers, fuel cells and storage batteries. The AGM will be live broadcasted on five social media platforms including Facebook, Real-Time Messaging Protocol, Twitter, YouTube, Instagram and Koo apart from company’s homegrown HD video conferencing application JioMeet.

Cipla: Drug major Cipla has received 6 observations with some referencing to the observations made during the September 2019 inspection, for its Goa plant. There are no data integrity (DI) observations. The USFDA inspected company’s Goa plant during August 16-26. Earlier the USFDA had inspected the said facility in September 2019 and the issued warning letter in February 2020.

Lemon Tree Hotels: Lemon Tree Hotels announced the opening of 52 rooms franchised Hotel in Ahmedabad, Gujarat under the Company’s brand ‘Keys Select by Lemon Tree Hotels, Gandhi Ashram. This Hotel is located just a short ride from Gujarat’s prominent Sabarmati River and the famous Sardar Vallabhbhai Patel National Memorial. This is the fifth hotel under the Company’s umbrella in the State of Gujarat.

NHPC: State-owned hydro power giant NHPC has inked a pact with the Himachal Pradesh government for the implementation of 500 MW Dugar Hydroelectric Project in Chamba district. “Implementation agreement for 500 MW Dugar Hydro Electric Project located in Chamba district, Himachal Pradesh, was signed between NHPC Limited and government of Himachal Pradesh on August 26, 2022 at Shimla,” a statement said.

NDTV, Adani Enterprises: New Delhi Television (NDTV) has deferred its annual general meeting (AGM) by a week, following Adani Group’s plans to acquire a 29.18% stake in the media firm and launch an open offer for another 26%. NDTV, which had convened its AGM on September 20, will now hold the annual shareholders’ meeting on September 27, the media firm said in a regulatory update. The AGM has been postponed due to the processes required after the notice and public announcement of the open offer made by Vishvapradhan Commercial (an indirect subsidiary of Adani Enterprises) to public shareholders for acquiring up to 26% of voting share capital of the company, it added.

Canara Bank: Canara Bank raises Rs 2,000 crore through Basel III Compliant Tier II Bonds, Series I. The bank has successfully raised Rs 2,000 crore through Basel III Compliant Tier II Bonds, Series I. It came out with issuance of Rs 2,000 crore of Tier II Bonds on August 25, and received a total bid amount of Rs 8,932 crore, out of which full issuance of Rs 2,000 crore was accepted at 7.48%.

UltraTech Cement: As part of its ongoing expansion plan, UltraTech Cement has commissioned cement capacity of 1.3 mtpa at Dalla Cement Works, Uttar Pradesh, which resulted into increase in unit’s capacity to 1.8 mtpa. This is part of 1st phase of capacity expansion announced in December, 2020. With this commissioning, the company’s total cement manufacturing capacity in India now stands at 115.85 mtpa.