GIFT Nifty Opening Update
GIFT Nifty opened today at 24,210.50. It is up 57.50 points (0.24%) from yesterday’s close of 24,200.00 – so the trend is positive.
The domestic stock market is anticipated to commence trading on a downward trajectory on Friday, August 28. The GIFT NIFTY futures indicate that the NIFTY50 index is poised to open 32 points lower. Here is a compilation of equities that are likely to attract attention today.
Equities to Monitor:
- Lenskart will attract attention as investor Alpha Wave Ventures II is poised to divest up to 2.08 crore shares through a block deal valued at approximately Rs 1,313 crore, as per reports. The floor price for the offer has been established at Rs 630 per share, reflecting a 1.7% discount to Lenskart’s prior closing price. The stake sale constitutes approximately 1.2% of the company’s current equity base. Alpha Wave Ventures II held a 1.2% stake in Lenskart as of the quarter ended June.
- Hero MotoCorp has sanctioned the acquisition of further shares in the electric two-wheeler manufacturer Ather Energy, with a financial commitment of up to Rs 1,758 crore. The investment will elevate Hero MotoCorp’s stake in Ather to approximately 32.8% from the current 29.88%, on a fully diluted basis. The acquisition, which will be funded in cash, is anticipated to reach completion by September 3, 2026. This move further solidifies Hero MotoCorp’s position in the rapidly expanding electric two-wheeler market, as Ather has reported a turnover of Rs 3,671.76 crore in FY26, an increase from Rs 2,255 crore in FY25.
- Wipro, the IT services firm, announced on Thursday the expansion of its partnership with Google Cloud, aiming to accelerate the enterprise-wide adoption of Gemini Enterprise and agentic AI. Additionally, Wipro is expanding the internal implementation of Gemini Enterprise and will equip over 10,000 AI-certified specialists, including 1,500 Forward Deployed Engineers, with advanced AI capabilities to improve productivity, optimise operations, and expedite decision-making.
- Apollo Tyres shares are anticipated to attract attention on Friday, August 28, subsequent to a block deal that occurred on Thursday. NSE block deal data indicated that private equity firm Warburg Pincus sold a 4.25% stake in Apollo Tyres for Rs 1,175 crore via open market transactions on Thursday. Warburg Pincus, a US-based investment firm, has divested 2,70,10,000 shares, which constitutes a 4.25% ownership in Apollo Tyres, a company located in Gurugram, as indicated by block deal data from the National Stock Exchange. The shares were disposed of at an average price of Rs 435 apiece, resulting in a transaction value of Rs 1,174.93 crore. Following the most recent transaction, Emerald Sage Investment’s stake in Apollo Tyres has decreased to 5.68% from 9.93%.
- Hindustan Copper shares are anticipated to attract attention on Friday, August 28, as the company announced that its shareholders will deliberate on a special resolution at the forthcoming annual general meeting. This resolution pertains to the raising of funds through a qualified institutional placement and the issuance of non-convertible debentures. In a regulatory filing dated August 26, the company indicated that during its forthcoming 59th AGM, scheduled for September 23, 2026, members will deliberate on the potential for raising capital through the issuance of equity shares via the QIP method.
- Tejas Networks shares are poised to attract attention following the announcement on Thursday, August 27, that the company has secured an order from the prominent Indian IT services firm Tata Consultancy Services. The domestic telecom gear manufacturer has obtained a Letter of Intent from TCS for the provision of RAN equipment, accessories, and installation materials. The order encompasses 18,685 locations for BSNL’s 4G mobile network and is valued at Rs 1,537 crore. “The detailed Purchase Order for the same would be issued by TCS to the company in due course,” Tejas Networks stated in a regulatory filing. By the conclusion of the first quarter of fiscal year 2027, the company’s order book was recorded at Rs 1,529 crore. Tejas Networks’ closing order book in Q1 was composed of 93% from India and 7% from international markets.
- GK Energy has secured a contract for a solar initiative aimed at serving 100,000 households. Valued at Rs 454.50 crore, the company has obtained a Letter of Empanelment from a prominent state government-owned power distribution utility for grid-connected rooftop solar photovoltaic projects. Under the empanelment, GK Energy has been allocated 1 kW of rooftop solar capacity to be installed across 100,000 households, resulting in a total capacity of 100 MW. As part of the project scope, GK Energy will engage in the design, engineering, supply, installation, testing, and commissioning of the rooftop solar systems, in addition to providing operation and maintenance services for a duration of five years. The projects are anticipated to reach completion within a 60-day timeframe following the issuance of the respective work orders.
- ICICI Prudential AMC – On Thursday, Prudential plc, based in Hong Kong, finalised the divestiture of a 2% stake in ICICI Prudential Asset Management Company for Rs 3,030 crore via an open market transaction. Prudential, via its subsidiary Prudential Corporation Holdings Ltd, divested 98,85,169 shares, which constitutes a 1.99% interest in the Mumbai-based ICICI Prudential AMC, as per bulk deal data from the BSE. The shares were sold at an average price of Rs 3,065.47 each, resulting in a total transaction value of Rs 3,030.27 crore. Following the most recent transaction, Prudential Corporation Holdings will maintain a 32.6% ownership interest in ICICI Prudential Asset Management Company Ltd. The combined holding of promoters and promoter group entities in ICICI Prudential AMC decreased to 85.61% from 87.60%. Details regarding the purchasers of ICICI AMC’s shares remain untraceable on the BSE.
- Foseco India – On Thursday, UK-based Morgan Advanced Materials divested its complete 15.26% stake in Foseco India, realising Rs 678 crore through open market transactions. Morgan Advanced Materials, via its two affiliates, Morganite Crucible Ltd and Morgan Terrassen BV, divested a total of 11,50,800 shares, representing a cumulative 15.26% stake in Pune-based Foseco India, according to block deal data on the NSE. The shares were disposed of at an average price of Rs 5,897 per share, bringing the deal value to Rs 678.62 crore. Meanwhile, a number of domestic and foreign institutional investors entered the market to acquire shares of Foseco India at the same price. Mutual Funds managed by LIC, Motilal Oswal, Invesco, SBI, Mahindra Manulife, and Mirae Asset have acquired shares.
- Dixon Technologies, Amber Enterprises India, and Syrma SGS Technology are expected to attract attention in the market. News reports indicate that the Goods and Services Tax Council is contemplating a reduction in the 18% GST rate applied to mobile phones. The initiative seeks to rejuvenate the waning demand for handsets and avert the tax from hindering India’s aspirations in electronics manufacturing. The proposal is anticipated to be deliberated at the Council’s meeting, which is projected to occur next month.
