Overnight Digest: Stocks to keep an eye on August 24

Keep an eye on these stocks in tomorrow's trading session.

The markets witnessed a volatile session today, owing to the mixed market sentiment only to end higher by 0.50 per cent. 

Sensex closed at 59,031.30, up by 0.44 per cent whereas Nifty 50 ended higher by 0.50 per cent at the 17,577.50 level.  

The shares of Eicher Motors, Bharat Electronics, and Adani Transmission made fresh 52-week highs on NSE today.    

Keep a watch on these stocks for Wednesday's trading session -    

Adani Group stocks- A CreditSights report on Adani Group that called it “deeply over-leveraged” sent panic waves amongst investors. Adani Group’s overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, in the worst-case scenario, stated CreditSights report. The stocks of all Adani Group companies were in the red today with Adani Power shedding the most value. The shares of Adani Power and Adani Ports were stuck in the lower circuit whereas Adani Green Energy & Adani Enterprises dipped 4 per cent each on BSE today. However, surprisingly, the shares of Adani Transmission got locked in the upper circuit at the day’s end despite falling 1.75 per cent in the morning.  

TVS Electronics - In order to enter the mobile POS software solutions and authentication solutions space, TVS Electronics on Monday signed a business transfer agreement with GTID Solutions Development. The two companies will work together to offer hardware along with the necessary applications, digital payment solutions, cloud computing software solutions, etc. to markets like retail, banks, and government. The acquisition will cost around Rs 2.25 crore. The shares of TVS Electronics have settled higher by 7.85 per cent on BSE today.    

Bank of Baroda: Bank of Baroda (BoB) announced plans to issue single or multiple tranches of Additional Tier 1 bonds, or AT1 bonds, to raise Rs 2,500 crore in debt capital. Capital Raising Committee of the Bank approved the issuing of Basel III Compliant Additional Tier 1 (AT 1) bonds for an aggregate total issue amount of Rs 2,500 crore in single or multiple tranches at its meeting held today, August 23, 2022. The bank’s scrip closed 4.40 per cent higher on BSE today.   

Devyani International: During Tuesday's intraday trade on BSE, the shares of Devyani International Ltd (DIL) fell 7 per cent to Rs 182.50 after more than 2 per cent of the company's total equity was transferred via block trades. According to the exchange data, almost 28.95 million equity shares, or 2.4 per cent of DIL's total equity, were traded on BSE. The purchasers' and sellers' names weren't immediately disclosed. The shares of the company were down by 5.20 per cent on BSE today.