MARKETS

Stocks in Focus: Protean eGov Technologies, Paytm, and Others

Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others - EP
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The GIFT Nifty futures, which is an early indicator of the Nifty50 index stocks, was trading lower by 64 points at 24,925, indicating that the domestic benchmark indices are likely to make a negative start on Tuesday.

Earlier on Monday, 25 August, the Domestic benchmark indices S&P BSE Sensex gained by 329 points or 0.40%, and settled at 81,635, while the Nifty50 traded 0.39% higher or 98 points, closing at 24,967.

Here are some stocks that are likely to remain in focus on 26 August.

Quarterly Results Today: Punjab Communications, DJ Holidayscapes and Resorts, and Sri Lotus Developers and Realty are some of the prominent companies set to announce their quarterly earnings for April-June. 

Protean eGov Technologies: Protean eGov Technologies secured a Rs 1,160 crore work order from UIDAI to provide services as a vendor for setting up and running district-level Aadhaar Seva Kendras.

Paytm: Paytm’s Board approved additional investments of Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services via a rights issue. The company also announced a Group-level internal restructuring to streamline its corporate structure and improve operational efficiency. The Board approved the transfer of up to 100% equity in Foster Payment Networks from Paytm Financial Services and other shareholders to Paytm for Rs 61 crore, making Foster Payment a wholly owned subsidiary. It also approved transferring a 55% stake in First Games Technology from Paytm Cloud Technologies to Paytm Services for up to Rs 140 crore. Post-transfer, First Games Technology will remain a step-down subsidiary without altering its shareholding structure.

Tata Motors: The NCLT Mumbai approved the Composite Scheme of Arrangement among Tata Motors, TML Commercial Vehicles, Tata Motors Passenger Vehicles, and their shareholders.

Lemon Tree Hotels: The company has announced inking a License Agreement for a new property under its Keys Select by Lemon Tree Hotels, in Mhasrul, Nasik, which its subsidiary Carnation Hotels will manage.

Suraj Estates Developers: Suraj Estate Developers acquired a 644 sq. meter land parcel at Lower Parel, Mumbai, for Rs 6.44 crore. The developer plans to merge it with the adjacent Ambavat Bhavan project, creating a consolidated parcel of 1,310 sq. meters with a 0.32 lakh sq. ft. saleable carpet area and a projected GDV of Rs 130 crore.

Vodafone Idea: Vodafone Idea may draw attention after the government ruled out fresh relief on AGR dues. Minister of State for Communications Chandra Sekhar Pemmasani clarified that no concessions are under discussion beyond the debt-to-equity conversions already carried out. The government, now the largest shareholder, holds shares worth over Rs 36,950 crore.

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