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Stocks in Focus: RVNL, M&M Financial Services, Tata Power and Others

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The GIFTY Nifty futures were trading flat during the early hours before the opening of the markets on Friday. Domestic Indices are expected to open on a similar flat-to-positive range amid weak global cues.

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex, ended Monday’s trading session in the green, rising for the second straight session. The Sensex rose 240.98 points or 0.37% to close at 65,628.14 points, while the Nifty settled at 19,528.80 after rising 0.48% or 93.50 points.

Here are some stocks likely to remain under the market’s watch on September 5.

Oil India: The board of the state-run oil company approved a Rs 1,738 crore equity contribution in line with its 49% shareholding in North East Gas Distribution Co, a joint venture company with Assam Gas Company Ltd.

Mahindra & Mahindra Financial Services: The company reported a 15% year-on-year (YoY) growth in its overall disbursements to Rs 4,400 crore for August. The total year-to-date disbursement has grown by 22% YoY to Rs 20,950 crore.

Delta Corp: Europe-based Societe Generale bought 23.42 lakh equity shares or 0.88% in the gaming company via open market transactions at an average price of Rs 182 per share, raising its stake from 1.43% to 2.3%. Zerodha Broking sold 25.5 lakh shares or 0.95% stake in the company at an average price of Rs 182.12 per share. 

Rail Vikas Nigam Ltd (RVNL): The company’s Joint Venture RVNL-MPCC emerged as the lowest bidder for all civil engineering works tenders in the Vadodara Division of Western Railway. The total project cost is Rs 174.27 crore and will be executed in two years. 

Tata Power: The company’s renewable power unit, Tata Power Renewable Energy, inked a Power Delivery Agreement (PDA) of 26 MW solar power with Neosym Industry in Jamkhed, Maharashtra.

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