Overnight Digest: Stocks to keep an eye on August 26

Keep an eye on these stocks for Friday's trading session.

At the time of the closing bell on Thursday, the markets eroded the day’s gains, ahead of the monthly expiry, dragged by IT, FMCG, and pharma stocks.  

At day end, Sensex closed at 58,774.72, losing 310.71 points or 0.53 per cent whereas Nifty 50 was at 17,522.45, down by 82.50 points or 0.47 per cent.  

 In BSE 200 group, the shares of ABB India, Bank of Baroda, Eicher Motors, Coal India, Siemens, Federal Bank, and Adani Transmission made their respective fresh 52-week highs today.  

  Keep a watch on these stocks for Friday's trading session –  

 Power Grid Corporation of India: Power Grid Corporation of India Limited (PGCIL) has emerged as the successful bidder under tariff-based competitive bidding and acquired Neemuch Transmission Limited (NTL), the Project SPV to establish a ‘transmission system for evacuation of power from Neemuch SEZ’, on build, own, operate & transfer (BOOT) basis from REC Power Development & Consultancy Limited. The transmission system comprises two 400kV D/C transmission lines passing through the states of Rajasthan and Madhya Pradesh, a new 400/220kV pooling substation at Neemuch (Madhya Pradesh), and 400kV bay extension work. The transmission system is an inter-state transmission system project and will be completed in 18 months. The shares of PGCIL closed at Rs 226.30 a piece on BSE today.  

 Lupin: A leading pharmaceutical firm in Japan named I'rom has entered into an exclusive licencing deal with Lupin Limited (Lupin). In accordance with the terms of the agreement, I'rom will carry out clinical trials alongside Lupin and exclusively register, distribute, and promote the biosimilar Denosumab in Japan. Along with other uses, Denosumab is prescribed for the treatment of postmenopausal women with osteoporosis who are at a high risk of fracture and also, for the prevention of skeletal-related events in patients with solid tumor bone metastases. I'rom will only market the product in Japan if the clinical trial is finished and Pharmaceuticals & Medical Devices Agency (PMDA) of that country grants marketing approval. The shares of Lupin ended 1.87 per cent lower on BSE today.  

 PSP Projects: The company has been awarded contracts worth Rs 247.35 crore (excluding GST) from the precast and government segments. With the receipt of the above, the total order inflow for the financial year 2022-23 to date amounts to Rs 1,344.24 crore. Following this news, the scrip soared 3 per cent to end at Rs 604.35 per share on BSE.  

 TVS Motor Company: TVS Motor Company has announced an investment in Narain Karthikeyan’s start-up ‘DriveX’ (NKars Mobility Millennial Solutions), a pre-owned two-wheeler platform. The company considers NMMSPL to be a strong partner in growing its pre-owned two-wheeler vehicle business. To this end, subject to the completion of the conditions precedent to closing, TVSM shall obtain a 48.27 per cent stake in NMMSPL through subscription of shares issued by the way of preferential allotment as well as through the purchase of shares from certain existing shareholders of NMMSPL. The scrip ended lower by 1.13 per cent on BSE today.