Stocks to Watch: HPCL, IOL, Aeroflex Ind, Zomato, Sula Vineyards, RVNL
HPCL/IOL: Minister of Petroleum and Natural Gas, Hardeep Singh Puri stated on 30 August that the government would bear the cost of the promised ₹200 price decrease on household cooking gas cylinders, relieving the oil marketing companies of the impending loss of ₹7,500 crore. As a gift for the women in advance of Raksha Bandhan, the Union Cabinet on Tuesday lowered by 200 rupees the price of a 14.2 kilogramme LPG cooking gas cylinder. The decision was made as criticism of the Centre for its handling of rising inflation has grown.
Aeroflex Industries: Ashish Kacholia-backed Aeroflex Industries Ltd is set to make its stock market debut on Thursday. The IPO of Aeroflex Industries, the manufacturer of metallic flexible flow solution products, received a strong investor response during its subscription period from August 22 to August 24. Aeroflex Industries IPO raised ₹351 crore from the initial share sale.
The current trends in the grey market indicate a strong listing for Aeroflex Industries shares on BSE and NSE. Zomato: SoftBank Vision Growth Fund on 30 August sold a 1.17% stake in food delivery firm Zomato in a deal valued at ₹947 crore, news agency Reuters quoted exchange data. Part of Japan's SoftBank Group, the venture capital sold 100 million shares at 94.7 rupees apiece in bulk deals, the report added.
According to the data from the NSE, the firms who bought Zomato shares include International Monetary Fund, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund and Kotak Mahindra Life Insurance. Sula Vineyards: Verlinvest Asia Pte is reportedly planning to divest a portion of its ownership in Sula Vineyards, amounting to approximately 12.56%. The divestment is anticipated to
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