Stocks to Watch: UltraTech Cement, AU Small Finance Bank, Vedanta, Medi Assist, Paytm and more

Here’s a quick look at stocks likely to be in focus in today’s trade.

Bondada Engineering: Bondada Engineering has secured a significant project valued at ₹575.74 crore. The project was awarded by Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy, which are special purpose vehicles established by Paradigm IT Technologies and Metalcraft Forming Industries.

UltraTech Cement: UltraTech Cement has successfully raised $500 million through a sustainability-linked loan, with participation from six banks, underscoring its commitment to sustainable practices.

AU Small Finance Bank: DSP Mutual Fund acquired a 1.39 percent stake in AU Small Finance Bank at an average price of ₹630 per share, while Fincare Business Services offloaded a 1.7 percent stake at the same price.

Vedanta: Vedanta, under the leadership of Anil Agarwal, has amassed a ₹30,000 crore fund through a qualified institutional placement (QIP), offer for sale (OFS), and dividends. This war chest is intended for deleveraging, capital structure improvement, and growth opportunities. In Q1, Vedanta’s profit after tax surged 54 percent year-on-year to ₹5,095 crore. The company also achieved its highest-ever alumina production at Lanjigarh and reduced production costs by 20 percent year-on-year. As of June 30, Vedanta’s debt stood at ₹6,130 crore.

Medi Assist Healthcare Services: Medi Assist Healthcare’s subsidiary, Medi Assist Insurance TPA, has signed definitive agreements to acquire 100 percent of Paramount Health Services & Insurance TPA from Fairfax Asia and the Shah family. This acquisition is set to increase Medi Assist’s market share to 36.6 percent in the group segment and 23.6 percent of the health insurance industry by premiums managed.

Medplus Health Services: Lavender Rose Investment has exited Medplus Health Services, selling its entire 11.35 percent stake at an average price of ₹616.48 per share. ICICI Prudential Mutual Fund acquired a 4.3 percent stake at an average price of ₹616 per share, while the Government of Singapore purchased a 0.97 percent stake at ₹616.2 per share.

Alembic Pharmaceuticals: Alembic Pharmaceuticals has received USFDA approval for its generic Betamethasone Valerate Foam, used to treat moderate-to-severe psoriasis of the scalp. The approval is for a formulation therapeutically equivalent to Luxiq Foam (0.12%) by Norvium Bioscience.

Paytm: Paytm has clarified recent media reports regarding a SEBI notice, stating that this is not a new development and had already been disclosed in its financial results for the quarter and year ended March 31, 2024, and the quarter ended June 30, 2024.

PI Industries: PI Industries’ Board of Directors has appointed Sanjay Agarwal as the Group Chief Financial Officer, effective August 26, following the retirement of the previous CFO, Manikantan Viswanathan.

HCL Technologies: HCL Technologies has announced an extension of its strategic partnership with Xerox, focusing on AI-driven engineering services and digital process operations. HCLTech will support the newly formed Xerox Global Business Services organization in driving key business metrics.

Repro India: Investor Ashish Kacholia sold a 1.22 percent stake in Repro India at an average price of ₹625 per share, while JVS Joyrass Holdings acquired a 0.7 percent stake at the same price.

Lemon Tree Hotels: Lemon Tree Hotels has signed an agreement for a new property, Lemon Tree Hotel, Civil Lines, Ayodhya. The 80-room hotel is expected to open in FY28 and will be managed by its subsidiary, Carnation Hotels.

UCAL: UCAL, an automotive component manufacturer, has signed a Memorandum of Understanding (MoU) with Blaer Motors to collaborate on the design and development of electronic components, including motor controllers ranging from 500 watts to 2 kilowatts.

KPI Green Energy: KPI Green Energy’s wholly-owned subsidiary, Sun Drops Energia Private Ltd, has received letters of intent to execute solar power projects with a cumulative capacity of 13.30 MW. The orders were awarded by Sumicot, Ekta Prints Private, Radhika Fabrics, and Sanjopin Industries.

GPT Infraprojects: GPT Infraprojects has launched its qualified institutional placement (QIP) issue on August 26, with a floor price set at ₹183.83 per share.

Brightcom Group: Brightcom Group reported a net loss of ₹24.2 crore for the quarter ending December 30, 2023, with revenue declining by 85 percent year-on-year to ₹453.2 crore. The company attributed its poor performance to various challenges, including the war in Israel, the departure of its CEO and CFO, negative media coverage following a SEBI order, and concerns flagged by auditors regarding interim financial statements and shareholding disclosures. Brightcom Group shares remain suspended from trading, and the company has yet to declare results for the March and June quarters.