Stocks in Spotlight: Vedanta, JSW Steel, Reliance, and More
- Domestic markets closed higher on Monday, setting a positive tone for Tuesday’s trade.
- Corporate actions from Vedanta, JSW Steel, Reliance Power, Tata Steel, and others will drive investor focus.
- IPO debuts, dividend announcements, and earnings releases add to today’s market momentum.
Global markets were mixed on Monday, but Indian equities closed with strong gains, setting the tone for a positive start on Tuesday. The NSE Nifty 50 rose 245 points, or 1%, to close at 24,877, while the BSE Sensex climbed 676 points, or 0.84%, to settle at 81,274.
Investors will now shift focus to corporate announcements, dividend declarations, earnings, and fresh IPO listings. Here are the key stocks and developments to track today.
Vedanta: Interim Dividend in Focus
Vedanta’s board will meet on August 21 to consider declaring its second interim dividend for the financial year 2025–26. If approved, August 27 will serve as the record date for shareholder entitlement. Given Vedanta’s track record of high dividend payouts, the stock is expected to remain in focus.
Trent Expands Burnt Toast to Gujarat
Trent Ltd’s youth-oriented fashion label, Burnt Toast, made its Gujarat debut with the opening of its first store in Surat. The launch highlights Trent’s focus on Tier-2 and Tier-3 cities, where demand for affordable, trendy fashion is on the rise. The expansion underlines the brand’s strategy of building a strong retail presence beyond metro markets.
ONGC Signs Agreement with Engineers India
Oil and Natural Gas Corporation (ONGC), through its research and development arm ONGC Energy Centre Trust, has entered into a formal agreement with Engineers India Ltd. Though details remain limited, the collaboration highlights ONGC’s commitment to technology-driven initiatives in the energy sector.
Reliance Power Forms JV in Bhutan
Reliance Power’s associate company, Reliance Enterprises Pvt. Ltd., has set up a joint venture in Bhutan named GDL–Reliance Solar Pte Ltd. The JV, a 50:50 partnership with Green Digital Private Limited owned by the Royal Government of Bhutan, will focus on developing clean energy solutions under the Gelephu Mindfulness City project. This marks a strategic move for Reliance Power in the renewable energy space.
JSW Steel and POSCO Explore JV
JSW Steel and South Korea’s POSCO Group signed a non-binding Heads of Agreement to jointly explore the development of a six-million-tonne integrated steel plant in India. This follows the MoU signed in October 2024 and paves the way for a potential 50:50 joint venture between the two global steel leaders.
Tata Steel Divests Stake in Ceramat Pvt Ltd
Tata Steel Advanced Materials Ltd, a subsidiary of Tata Steel, approved the sale of its 90% equity and 100% preference stake in Ceramat Pvt Ltd to Lionstead Applied Materials, a subsidiary of Lionstead Ventures LLP. Post the transaction, Ceramat will no longer remain part of Tata Steel’s portfolio, enabling the company to sharpen its focus on core businesses.
GMR Airports to Redeem Bonds Worth Rs 5,000 Crore
GMR Airports announced plans to redeem non-convertible bonds totaling Rs 5,000 crore. The redemption covers three bond tranches worth Rs 1,950 crore, Rs 800 crore, and Rs 2,250 crore. The move is aligned with the provisions of its bond trust deed dated November 17, 2023, and reflects the group’s efforts toward financial restructuring.
Escorts Kubota Secures GST Refund
Escorts Kubota disclosed that Haryana’s Excise & Taxation Officer has sanctioned a GST refund of Rs 46.37 crore out of the Rs 46.67 crore refund claim under the inverted duty structure. However, Rs 29.78 lakh of the claim was rejected as ineligible input tax credit. The refund is expected to improve the company’s liquidity position.
Reliance Consumer Forays Into Healthy Beverages
Reliance Consumer Products Ltd, a subsidiary of Reliance Retail, has entered the healthy functional beverage space. The company acquired a majority stake in a joint venture with Naturedge Beverages, strengthening its plan to build a 'total beverage company' with health- and herbal-focused offerings. This move further consolidates Reliance’s presence in the fast-growing FMCG sector.
Hinduja Group Bets Big on Renewables
The Hinduja Group has announced plans to expand its renewable energy capacity from 3 GW to over 10 GW by 2030. The group will invest $3-4 billion in solar, wind, hybrid projects, and battery energy storage systems. While the group is prioritizing renewables, thermal assets will continue operations. The investment signals Hinduja’s strong commitment to green energy.
Earnings to Watch Today
Three companies are scheduled to announce their quarterly results today Aditya Infotech, GNG Electronics, and Vuenow Infratech. Their numbers will give further cues to investors in specific sectors.
IPO and Listing Updates
BlueStone Jewellery and Lifestyle makes its mainboard debut today, attracting attention from retail and institutional investors. In the SME space, Icodex Publishing Solutions will be listed, expanding opportunities for small-cap investors.
With strong domestic sentiment, investors are expected to keep a close eye on dividend declarations, joint ventures, and new listings. Stocks such as Vedanta, JSW Steel, Tata Steel, ONGC, Reliance Power, and Reliance Consumer are likely to remain actively traded through the day.
