The GIFTY Nifty futures were trading on a flat-to-negative note during the early hours before the opening of the markets on Tuesday. Domestic Indices are expected to open on a slightly negative foot in line with the GIFT Nifty futures amid dismal global cues. 

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex ended their two-day losing streak on Tuesday. The Nifty 50 surged more than 80 points or 0.43% to settle at 19,393.6 points, while the Sensex gained 0.41% or 388.40 points to end at 65,216.09 points.

Let’s see the top stocks to watch out for today.

RITES, NHPC: The companies have signed a memorandum of understanding (MoU) to collaborate on comprehensive consultancy services for Rail Infrastructure facilities for NHPC’s hydropower projects in Arunachal Pradesh. This agreement will include consulting services for new rail connectivity, Rapid Loading Systems and SILO services, among other services.

Adani Enterprises: A promoter entity, Kempas Trade and Investment, bought 2.53 crore shares or a 2.22% stake in the company through open market transactions between August 7 and August 18. The total promoter stake in the company now stands at 69.87%. Adani Enterprises has also incorporated a wholly-owned subsidiary Sirius Digitech International. 

Glenmark Pharmaceuticals: The pharma company’s US subsidiary has entered into a three-year Deferred Prosecution Agreement with the US Department of Justice (DOJ) Antitrust Division to settle all court proceedings related to the pricing practices of Pravastatin drug between 2013 and 2015 for a $30 million or Rs 246 crore fine. 

Lemon Tree Hotels: The hotel chain has signed a licence agreement for two properties in Bhubaneswar and Kasauli under the brands “Lemon Tree Hotel” and “Lemon Tree Mountain Resort”, expected to be operational by Q4FY25 and Q3FY26, respectively. 

Tata Power: Tata Power Renewable Energy has signed a power purchase agreement (PPA) with Tata Motors for a 9-megawatt on-campus solar plant at the latter’s Pantnagar plant. The project would be commissioned within six months from the PPA signing date and will be the largest on-campus capacity at a single location in Uttarakhand. 

Union Bank of India: The public sector lender’s board has approved raising up to Rs 5000 crore by issuing equity shares through Qualified Institutions Placement at a floor price of Rs 91.10, subject to the requisite regulatory and statutory approvals. 

Welspun Enterprises: The company acquired a 50.10% stake in Michigan Engineers from Authum Investment & Infrastructure and Sansaar Housing Finance for a total consideration of Rs 137.07 crore. Michigan will become a Wellspun subsidiary post-acquisition.