Top events of the day: SEBI will auction 19 properties tied to seven companies in an effort to recover investor funds, while the Enforcement Directorate is expected to summon Rahul Gandhi for questioning in the National Herald case. The India Meteorological Department forecasts significant rainfall in multiple states, and several key dividend stocks will trade ex-dividend. Additionally, the release of India’s Consumer Price Index data, trading bans on 15 stocks in the F&O segment, and numerous Q1 earnings announcements are expected to drive market activity.
The Securities and Exchange Board of India (SEBI) is scheduled to auction 19 properties today, August 12. The properties, which include buildings, flats, and land parcels, belong to seven companies: Jivan Sathi Dream Projects, Mangalam Agro Products, Purusattam Infotech Industries, Sun Plant Business, Ravi Kiran Realty India, Sumangal Industries, and Sunheaven Agro India, according to a notice. The aim is to recover funds these companies allegedly collected from investors through illegal means.
Fresh allegations from Hindenburg Research have sent shockwaves through the Indian stock market, leaving investors on edge and anticipating a volatile opening. With previous Hindenburg reports triggering significant market downturns, the latest claims are expected to cast a shadow over investor sentiment, potentially leading to a sell-off in the coming days.
The Enforcement Directorate (ED) is likely to summon Rahul Gandhi for questioning in connection with the ongoing investigation into the National Herald newspaper, which is run by the Congress party. The agency is reportedly preparing to question the leader of the opposition in Lok Sabha to potentially finalize its probe into alleged irregularities in the newspaper's operations. The ED has already attached assets worth ₹751 crore in this case.
The India Meteorological Department (IMD) has predicted “very heavy rainfall” across various regions, including the Western Himalayan region and northeast India, for the next six days. States likely to be affected include Kerala, Tamil Nadu, Karnataka, Himachal Pradesh, Jammu and Kashmir, Uttarakhand, Punjab, and Haryana.
Shares of ICICI Bank Ltd, NHPC Ltd, India Pesticides Ltd, Rossell India Ltd, UPL Limited, Computer Age Management Services Ltd, and Styrenix Performance Materials Ltd will be under the spotlight today, August 12, as they trade ex-dividend.
India's Consumer Price Index (CPI) data is set to be released today, August 12, with economists forecasting a decline to 3.65% from the previous 5.08%. This data will be closely watched, alongside the upcoming Wholesale Price Index (WPI) inflation figures, expected on August 14.
The National Stock Exchange (NSE) has imposed a trading ban on 15 stocks in the futures and options (F&O) segment today, August 12, after they exceeded 95% of the market-wide position limit (MWPL). The stocks will, however, remain available for trading in the cash market. The list includes Aditya Birla Capital, Bandhan Bank, Biocon, PNB, and SAIL among others.
Several companies are scheduled to release their Q1 earnings today, August 12. Notable among them are AIA Engineering, Balrampur Chini Mills, Borosil Renewables, Campus Activewear, Cera Sanitaryware, Happiest Minds Technologies, Hindustan Copper, Indian Railway Finance Corporation, ITI, Natco Pharma, National Aluminium Company, NMDC, Sunteck Realty, Vodafone Idea, and Voltas.
