Jio Financial Services, LIC, Vodafone Idea: Top 10 Stocks To Watch Today—23rd August

Here are the top 10 stocks that are likely to be in focus today i.e. on Wednesday 23rd August.

Jio Financial Services

The stock hit the 5% lower circuit on Tuesday at Rs 236.45 apiece level on NSE. Since the stock touched the lower circuit limit for two days in a row, on Monday, August 21, 2023, and Tuesday, August 22, 2023, the removal of new entrant Jio Financial Services from the S&P BSE indices has been postponed by three days. Jio Financial Services will now be removed from BSE indices on August 29, 2023, rather than the previous deadline of August 24, 2023.

On Tuesday, BSE made this announcement. Jio Financial Services will be discontinued from indices like BSE Sensex, BSE 100, BSE Sensex 50, BSE 100 LargeCap TMC (INR), BSE SENSEX 50 TMC (INR), BSE 500, BSE 250 LargeMidCap Index (INR), BSE 200, BSE AllCap, BSE Energy, BSE Large-cap, BSE LargeMidCap, BSE India Manufacturing Index, BSE Dividend Stability Index, BSE 100 ESG Index (INR), BSE Oil & Gas, BSE Carbonex, and BSE Greenex.

Adani Green Energy

The stock exchanges BSE and NSE on Tuesday imposed a fine of Rs. 2,24,200 (Rupees Two Lakhs Twenty Four Thousand Two Hundred only) each on the company for certain non-compliance. "The non-compliance has occurred due to untimely demise of a women director and exit of an independent director, " said Adani Green Energy in a stock exchange filing.

ICICI Prudential Life Insurance Company

On Tuesday, the company informed stock exchanges that Mr. Benjamin Bulmer, a non-executive director, had submitted his resignation effective August 22, 2023; and the Board of Directors had approved the appointment of Mr. Solmaz Altin as a non-executive (Additional) director effective August 22, 2023. Mr. Solmaz Altin is now in charge of the Prudential Group's strategic business in India, Indonesia, Malaysia, the Philippines, Laos, Myanmar, Cambodia, and Africa.

BEML

BEML Limited received an order from the Ministry of Defence (Army) on Tuesday for the delivery of Command Post Vehicles with a tentative contract value of Rs. 101 Crores.

Wipro

IT giant Wipro on Tuesday launches digital skills credentialing and verification initiative in India. The initiative aims to engage businesses, educational institutions, and the government to create a standardized framework for credentialing and validation of skills, according to Wipro. "The education sector in India is expected to double in size in the coming years," said Subha Tatavarti, Chief Technology Officer, Wipro Limited. "Yet, there is no easy, or standard, way to validate the courses and certifications offered by a multitude of institutions."

"By building a wide-reaching ecosystem on our platform, our goal is to help accelerate the creation of a standard and interoperable credentialing framework that will alleviate the challenges faced in the skills verification process-and, ultimately, contribute to the creation a dynamic and vibrant talent market, said Subha Tatavarti.

"We are thrilled to be a part of the DICE ID network and support this innovative initiative," said Chandra Sekhar Garisa, CEO of foundit. Kirti Seth, Chief Executive Officer, NASSCOM Future Skills Prime, said, "Our support to Wipro on this transformative journey exemplifies our dedication to the mission of making India a Digital Talent Nation. The verifiable skill credential ecosystem will bring immense value to the industry, helping to foster standardization, efficiency, and recognition of skills across diverse sectors. The benefits to the credential owner and credential seeker are immense in the form of saving time, money and effort that is currently spent in validating information."

Wipro will also leverage the DICE ID skills credentialing platform for its own employees as part of the newly announced Wipro ai360 effort, beginning with the company's generative AI skills training programme. Wipro's digital ecosystem, built on its DICE ID platform, will provide a secure, trusted, and efficient way of validating certifications and educational credits, assisting in addressing the challenges associated with skill and credential verification in India.

LIC

The company announced on Tuesday that it has increased its shareholding in Mphasis from 94,12,589 to 95,30,789 equity shares, increasing its shareholding from 4.991% to 5.054% of the paid-up capital of the said company.

Piramal Enterprises

The Board of Directors of the company on Tuesday approved public issuance of NCDs of face value of Rs 1,000 each for an amount aggregating up to Rs 3,000 crores in one or more tranches, through public issue, subject to regulatory and statutory approvals, as applicable.

Persistent Systems

The company on Tuesday announced its recognition as a Challenger in the 2023 Gartner Magic Quadrant for Public Cloud IT Transformation Services. "We believe this recognition underscores Persistent's unparalleled expertise in harnessing the power of cloud technologies and its commitment to reshaping industries in a cloud-first world," said the company in a stock exchange filing.
As of August 22nd, 2023, Persistent is the most reviewed Public Cloud IT Transformation Services provider on Gartner Peer Insights, with 81 reviews and an overall rating of 4.5 out of 5.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent said, "Cloud is the bedrock that is critical to unlock digital business outcomes for enterprises. We are thrilled with this recognition by Gartner as we believe it clearly underscores our Digital Engineering prowess and reinforces our commitment to future-proof clients through rapid scale enterprise modernization. From our perspective, we view this recognition as validation of our close collaboration with clients on their cloud strategies, unique solutions created with our hyperscaler partners, and tailored vertical-specific offerings for BFSI, Healthcare, and ISV clients that are unmatched in the industry."

Nitha Puthran, Senior Vice President -Cloud, Infrastructure and Security, Persistent said, "We are delighted to be recognized as a Challenger in the Gartner Magic Quadrant for Public Cloud IT Transformation Services. Robust cloud infrastructure has never been more critical in the 'Cloud-First, AI-First' world that enterprises inhabit. This is particularly true today as we work with clients to implement cloud-powered Generative AI solutions. We believe our positioning in the Challengers Quadrant demonstrates that our differentiated Digital Engineering capabilities, innovative IP, and a practitioner-led model allow us to accelerate cloud value for our clients."

Astec LifeSciences

The Board of Directors of the company on Tuesday approved the allotment of 4,900 NCDs having a face value of Rs.1,00,000/- each, aggregating to Rs.49 Cr to an eligible investor. The coupon offered is 8.40% per annum and the redemption will be on August 21, 2026. The NCDs come with a tenure of 3 years from the date of allotment i.e. 22nd August.

Vodafone Idea

On Tuesday, the company informed the stock exchanges that it aims to pay off around Rs 2,400 crore in government debt by September. It recently paid roughly Rs 450 crore in licensing fees and spectrum expenses for the March quarter of 2022-23.