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Tata Power and Suzlon Energy are likely to be in focus over acquisition plans. Lupin’s big jump in quarterly net profit may keep the stock buzzing. Godrej Consumer is poised to release its quarterly results, while real estate stocks come under focus following amendments to LTCG tax regulations read more
 "Tata Power, Suzlon, Lupin, Godrej Consumer, and real estate sector shares in focus")
Source: PTI/FILE
The GIFT Nifty index on Wednesday (August 7) suggested a gap-up start for Dalal Street. The index was up 277.5 points or 1.15 per cent at 24,322.5 points around 9 am.
The India VIX, an indicator of volatility in the stock market, was down nearly 8 per cent at 18.74.
Global cues remained positive. Wall Street indices ended in green on Tuesday (August 6) after three straight days of losses. Asian stocks also rallied on Wednesday.
Ahead of the opening bell, here’s a look at stocks to watch in India:
Tata Power:
The Tata Power Company Limited plans to acquire a 40 percent equity stake in Khorlochhu Hydro Power Limited (KHPL) for approximately Rs 830 crore in cash. The acquisition, which does not fall under related party transactions, will make KHPL an associate company of Tata Power. The project involves developing a 600 MW hydropower project in Bhutan with an investment of about Rs 6,900 crore.
Suzlon Energy: The company will acquire a 76 percent stake in Renom Energy Services from the Sanjay Ghodawat Group in two or more tranches. In the first tranche, it will acquire a 51 percent stake for Rs 400 crore, and in the second tranche, it will acquire an additional 25 percent stake within 18 months of the first acquisition for Rs 260 crore.
Lupin: The pharmaceutical major reported a 77.2 percent year-on-year increase in net profit, reaching Rs 801.3 crore for the first quarter that ended June 30, 2024. In the corresponding quarter of the previous year, it posted a net profit of Rs 452.3 crore.
Godrej Consumer: The company is expected to announce its results for the first quarter of FY 2025 on Wednesday.
Real estate stocks: Stocks of real estate companies are likely to be under scrutiny due to the government’s amendment of the LTCG (Long-Term Capital Gains) rules for this sector.
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