Stocks To Watch On 19 August: RailTel, Exide Industries, Bharat Petroleum Corporation And More
Add Preferred News Source
RailTel, Exide, BPCL, Balkrishna, Highway Infrastructure, ONGC, Jubilant Ingrevia and Shilpa Medicare announced major contracts, investments, fundraising, acquisitions, infrastructure commissioning and a US drug recall.
Indian equities ended lower on 18 August, with the Nifty 50 falling 0.55% to 24,154.90 and the Sensex declining 0.63% to 77,235.46. The Nifty extended its losing streak to six sessions amid heightened geopolitical uncertainty after the US-Iran ceasefire lapsed.
Stock In Focus
RailTel Corporation of India
RailTel Corporation of India has received a work order worth ₹166.8 crore, inclusive of taxes, from the Employees' Provident Fund Organisation (EPFO). The order was announced by the telecom infrastructure company on 18 August.
Exide Industries
Exide Industries has invested ₹200 crore in its wholly owned subsidiary, Exide Energy Solutions Ltd (EESL). The investment is aimed at supporting EESL's greenfield, multi-gigawatt lithium-ion cell manufacturing facility in India.
The investment was made on 18 August through the subscription of 5.71 crore equity shares of EESL on a rights basis. The shares were issued at a face value of ₹10 each, along with a premium of ₹25 per share.
Bharat Petroleum Corporation
Bharat Petroleum Corporation Ltd (BPCL) plans to raise up to ₹5,000 crore through non-convertible debentures. The state-owned oil refiner said on 18 August that its board had approved the proposed fundraising.
Balkrishna Industries
Off-highway tyre manufacturer Balkrishna Industries has approved a proposal to raise up to ₹550 crore through non-convertible debentures (NCDs). The fundraising will be carried out through a private placement.
Highway Infrastructure
Highway Infrastructure has secured a toll operations contract worth ₹80.17 crore from the National Highways Authority of India (NHAI). The contract covers toll operations at Palayam Fee Plaza in Tamil Nadu.
ONGC
Oil and Natural Gas Corporation (ONGC) has commissioned gas evacuation infrastructure at Khoraghat GGS-1 in Assam's Golaghat district. The facility will allow surplus associated natural gas from the Upper Assam Shelf to be processed and evacuated through the North East Gas Grid (NEGG), which was developed by Indradhanush Gas Grid Ltd (IGGL).
Jubilant Ingrevia
Jubilant Ingrevia has entered into a binding agreement with Zettaone Technologies India to acquire a 40% stake in the electronics design and manufacturing company. The transaction is valued at ₹189.2 crore.
Shilpa Medicare
Shilpa Medicare has initiated a voluntary recall in the United States involving 27,923 vials of Pemetrexed Injection, available in 100 mg/10 mL and 500 mg/50 mL strengths under the Pemetri RTU brand. The recall was initiated following atypical discolouration observed in the drug product.
Also Read - SEBI Bars Merchant Banker Corporate Capital Ventures From Taking New Assignments Over Compliance Lapses
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa is a content and SEO strategist with 10+ years of experience across fintech and FMCG. She has a knack for connecting dots others miss, spotting trends early, and finding angles on topics most miss to question.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide.
Outside work, she's drawn to art, painting and architecture, and enjoys travelling to explore them firsthand.
