Trending Stocks Today, August 28, 2026: Vodafone Idea, IFCI, PC Jeweller, Syncom Formulations

Mumbai, August 28: Shares of Vodafone Idea, PC Jeweller, IFCI and Syncom Formulations (India) were among the stocks drawing heavy trading activity on the NSE on Friday. Vodafone Idea fell 1.80% despite positive commentary from chairman Kumar Mangalam Birla on its improved financial position, while PC Jeweller gained 1.73% after shareholders approved a ₹1,000-crore QIP. IFCI surged 7.67% on expectations of progress towards the long-awaited NSE IPO, while Syncom Formulations (India) jumped 15.97%, extending its recent gains. 

Vodafone Idea Limited (down 1.80%)  

Vodafone Idea shares declined despite chairman Kumar Mangalam Birla saying the reassessment of the company’s adjusted gross revenue (AGR) dues has significantly strengthened its balance sheet and provided greater visibility on future cash obligations. 

Speaking at the company’s 31st annual general meeting, Birla said FY27 will be a year of “execution and delivery” as Vodafone Idea focuses on addressing legacy challenges, expanding its network and rebuilding business momentum. 

The government has reduced Vodafone Idea’s AGR liability by about 27% to ₹64,046 crore following a reassessment of its statutory dues. The company will make minimum annual payments of ₹100 between March 2032 and March 2035, followed by annual instalments of ₹10,608 crore from March 2036 to March 2041. 

Birla said the lower liability and recognition of the present value of future payments were key factors behind the company’s one-time profit after tax of ₹34,552 crore. More importantly, he said, the reassessment removed uncertainty around the company’s long-term repayment obligations. 

The telecom operator has also stepped up its funding and network investment plans. The Aditya Birla Group committed ₹4,730 crore through warrants in May, of which ₹1,183 crore was received in June. As of August, Vodafone Idea had secured about ₹6,400 crore through fund-based and non-fund-based facilities and warrant proceeds. 

The company has already placed orders worth ₹9,000 crore for capital expenditure as part of its ₹45,000-crore, three-year capex programme that began in September 2024. Nokia, Ericsson and Samsung have been selected as network equipment suppliers. 

Vodafone Idea also recorded its first quarterly net subscriber addition since the merger of Vodafone and Idea in the June quarter of FY27. However, its subscriber base was still down about 2% year-on-year at 19.31 crore. 

Birla said 5G services are now available in more than 200 cities, with further expansion planned across key circles. 

PC Jeweller Limited (up 1.73%)  

PC Jeweller shares gained on Friday, recovering after declining in the previous session, following recent shareholder approvals for measures that could provide the jewellery retailer greater financial flexibility. 

Shareholders approved an increase in the company’s authorised share capital to ₹1,460 crore, including ₹1,200 crore of equity share capital and ₹260 crore of preference share capital. The move expands the company’s capacity to raise additional capital when required. 

Investors also approved a proposal to raise up to ₹1,000 crore through a Qualified Institutional Placement (QIP), potentially giving PC Jeweller access to institutional funding to support expansion and meet other corporate requirements. 

The approvals come as the jewellery retailer works to strengthen its financial position and operations. The proposed fundraising could bolster its balance sheet and provide additional resources as the company seeks to build on its ongoing recovery. 

IFCI Limited (up 7.67%)  

IFCI shares jumped on Friday after Sebi Chairman Tuhin Kanta Pandey said the market regulator was close to clearing the National Stock Exchange’s Draft Red Herring Prospectus (DRHP), potentially paving the way for the country’s largest equity bourse to proceed with its long-awaited IPO. 

IFCI has an indirect exposure to NSE through Stock Holding Corporation of India (SHCIL). The state-owned financial institution holds a 52.86% stake in SHCIL, which in turn owned a 4.4% stake in NSE as of the December quarter. 

The prospect of an NSE listing could therefore unlock value for IFCI through its holding in SHCIL, making the regulator’s progress on the exchange’s IPO a key trigger for the stock. 

Syncom Formulations (India) Limited (up 15.97%) 

Syncom Formulations (India) soared on Friday after rising in the previous session, the stock having jumped 24% over a week and 55% over a month. This year it is up nearly 43%. Syncom Formulations (India) is a pharma firm.  

Source

• NSE