NIFTY 50

Here’s a look at buzzing stocks for trade on August 28

Updated : August 28, 2020 08:11 AM IST

The Indian market is likely to open higher Friday following a mixed trend in Asian peers as investors react to developments from the US Federal Reserve. At 8:10 am, the SGX Nifty was trading 25.40 points or 0.22 percent higher at 11,617.80, indicating a positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Defence stocks: Defence stocks will be in focus after the Chief of Defence Staff Gen. Bipin Rawat said that the government will put out second negative list for defence imports early next year.

2. Mahindra & Mahindra: The company has announced the introduction of the Marazzo with BS-VI technology.

3. HCL Technologies: The company has opened its first European Cybersecurity Fusion Center (CSFC) in Gothenburg, Sweden. HCL’s CSFC is a security operations and response facility, integrating multi-domain security teams, processes and cutting-edge analytics enabling organizations to detect threats faster and resolve incidents efficiently.

4. NMDC: The company’s net profit in Q1FY21 fell 54.8 percent to Rs 532.9 crore from Rs 1,179.3 crore while revenue declined 40.6 percent to Rs 1,937.50 crore from Rs 3,263.7 crore, YoY. The company has approved demerger of Nagarnar iron and steel unit.

5. Hindustan Aeronautics Ltd: The company’s offer for sale (OFS) was subscribed 1.60 times by non-retail investors on the first day of the issue on Thursday. The government has decided to exercise the greenshoe option and retail investors will get chance to bid on Friday with a discount of 5 percent on the cut off price.

6. Edelweiss Financial Services: The company has approved selling 51 percent stake in wealth management arm to PAGAC Ecstasy for $300 million.

7. IDFC Ltd: The company reported a consolidated net loss of Rs 26.46 crore in Q1FY21 as against net profit of Rs 5.18 crore, YoY. Total consolidated income fell to Rs 103.99 crore from Rs 133.04 crore, YoY.

8. GMR Infrastructure: The company’s consolidated net loss for the June quarter more than doubled to nearly Rs 834 crore as against Rs 335 crore loss in the same quarter of FY20. The company also announced strategic restructuring of Group companies, which involves vertical split demerger of the non-airport businesses (energy, EPC, urban infrastructure, etc.) into GMR Power and Urban Infra Limited (GPUIL).

9. PNC Infratech: The company’s Q1FY21 consolidated net profit declined 48 percent YoY to Rs 92 crore. Revenue fell 28 percent YoY to Rs 1,093 crore.

10. ICRA: The company’s consolidated net profit in Q1FY21 fell 17 percent to Rs 17.04 crore from Rs 20.53 crore while total income declined to Rs 80.79 crore from Rs 88.69 crore, YoY.
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