Top 10 Stocks To Watch Today: RIL, Vedanta, BHEL, Paytm & More

On 28th August, here are the top 10 shares that are likely to be in spotlight today.

Reliance Industries

On Monday, Reliance Industries (RIL), the conglomerate, will have its 46th annual general meeting (AGM), which will draw attention.

L&T

The company's board of directors has authorised the buyback of 3.33 crore shares through a tender offer method for a total valuation of Rs 10,000 crore, with a maximum buyback price of Rs 3,000 per share which reflects a premium of 13.98% higher than Friday's NSE closing price of Rs 2,632.00 per share. For the purpose of determining eligibility and the names of shareholders who are eligible to participate in the buy back, the Company has set September 12, 2023 as the Record Date.

BEML

The company secured a $19.71 million export order for a BEML Dozer BD 355 from KAMSS Ltd. in Russia.

BHEL

Bharat Heavy Electricals Limited (BHEL) has received an order from NHPC worth Rs. 2241.86 Cr.

Paytm

After Antfin Holding BV sold 2.27 crore shares in One97 Communications at Rs 895.20 per share --- totalling Rs 2,037.01 crore, the parent company of Paytm, through a block deal on Friday, Societe Generale and Morgan Stanley acquired a 1.57% stake or purchased 59.87 lakh equity shares at Rs 895.20 per share amounting to Rs 536 crore in Paytm.

Indian Bank

A Board meeting of the bank is scheduled to be held on Wednesday, the 30th August 2023 to consider shareholders' approvals regarding raising of equity capital of the Bank aggregating upto Rs 4000/- crore (including premium) through QIP/FPO/Rights Issue or in combination thereof.

Vedanta

After a disallowance costing $1.16 billion or Rs 9,545 crore in some expenditures, Vedanta won arbitration against a demand for a higher payout from its Rajasthan oil and gas operations.

"The company has received an arbitration award dated August 23, 2023... upholding the contention of the company that additional profit petroleum, on account of Director General of Hydrocarbon (DGH) audit exceptions in relation to allocation of common development costs across Development Areas and certain other matters, is not payable as per terms of the Production Sharing Contract for Rajasthan Block," Vedanta said in a stock exchange filing.

"DGH, in September 2022, has trued up the earlier demand raised till 31 March 2018 up to 14 May 2020 for Government's additional share of profit oil based on its computation of disallowance of cost incurred over retrospective re-allocation of certain common costs between Development Areas (DAs) of Rajasthan Block and certain other matters aggregating to Rs 9,545 crore applicable interest thereon representing share of the company and its subsidiary," it said.

Linde India

The company has been awarded 'Letter of Acceptance' dated 25 August 2023 by Steel Authority of India (SAIL) for installation of 1000 tonnes per day Cryogenic Oxygen Plant on Construct, Operate and Maintain (COM) basis for a period of 20 years from the date of commissioning of the plant and ancillary facilities with provision of renewal for a further period of 5 years on mutual agreement basis at the SAIL's plant situated at Rourkela, as per a stock exchange filing.

IndoStar Capital Finance

On Friday, the company sold a significant portion of its legacy corporate loan book to Phoenix ARC. The sale consists of certain accounts that were tagged in Stage 2, aggregating to dues outstanding of Rs 915 crs. According to the agreement, Phoenix ARC will establish a trust to oversee the development of the real estate projects and will also consider contributing a specific amount to finance the completion of them. After the transaction, the retail loan book's percentage of the assets managed by the company rose from 85% to nearly 95%.

Adani Group

The Supreme Court has received a report on the progress from SEBI on its Adani investigation. On August 29, the Supreme Court is slated to hear the Adani-Hindenburg dispute. Earlier, on August 14, SEBI submitted a request to the SC asking for a further 15 days for submitting the investigation report on Adani Group, claiming that it had completed its inquiry into 17 of the 24 transactions it had taken up for investigation.