Stocks To Watch on September 5: GIFT Nifty on the NSE IX traded 4 points, or 0.02 per cent, higher at 19,603, signaling that Dalal Street was headed for muted start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons.
Vishnu Prakash R Punglia: The stock will debut on the bourses today. The issue price is Rs 99 and the stock may list with up to 60 per cent premium, as per ipowatch.com.
Hero MotoCorp: The company will invest Rs 550 crore more in Ather Energy via its rights issue. The Splendor-maker, which currently holds 33.1 per cent stake in Ather, will see its shareholding rise in the company. The transaction is expected to be completed before the end of September.
Cipla: The drugmaker’s South African subsidiary entered into a binding term sheet to acquire Actor Holdings (Pty), a privately owned pharmaceutical company specialising in consumer health and generic medicine. The consideration has been fixed at ZAR 900 million (approx $48.6 million, or around Rs 400 crore) in cash for 920 equity shares, representing a 100 per cent equity stake.
Besides, Torrent Pharmaceuticals has emerged as a frontrunner to acquire its rival Cipla with a non-binding offer that’s more than 30 per cent higher than American private equity giant Blackstone’s bid.
State Bank of India: Financial Services Institutions Bureau has recommended the name of Vinay M Tonse as managing director of SBI.
Escorts Kubota: The company will raise tractor prices effective September 16. The increase in prices will vary across models and geographies.
Indian Energy Exchange: The energy exchange has achieved total electricity volume of 8,469 million units in August, up 21 per cent from last year. The day ahead market volume in August increased by 7.3 per cent YoY to 3,810 million units, and the real time market volume grew by 21 per cent YoY to 2,738 million units, while the market clearing price jumped 33 per cent on-year to Rs 6.89 per unit.
Mahindra & Mahindra Financial Services: The company has recorded a 15 per cent year-on-year growth in disbursements at Rs 4,400 crore for August. The year-to-date (till August FY24) disbursements stood at Rs 20,950 crore, up 22 per cent over a year-ago period. The collection efficiency for August remained flat at 96 per cent YoY, while the stage-3 and stage-2 assets continued to remain rangebound compared to June 2023.
Mahindra and Mahindra: M&M is in advanced discussions with Volkswagen as it intends to use the german automaker’s central MEB components such as e-drive and unified cells.
Yes Bank: The private lender has clarified and denied any role in settlement or negotiation after the sale of the loan portfolio to JC Flowers ARC. The association of the bank with JC Flowers ARC remains limited to the extent of its current shareholding, at 9.9 per cent.
Oil India: The state-run oil company approved a Rs 1,738 crore contribution for North East Gas Distribution Co, a joint venture in which it holds a 49 per cent stake.
BHEL: The company bagged an order for Electro-Mechanical (E&M) works for the country’s largest capacity hydropower project, the 2,880 MW Dibang Multipurpose Project in Arunachal Pradesh.
Rail Vikas Nigam: The RVNL-MPCC JV emerged as the lowest bidder for all civil engineering works in the Varodara Division of Western Railway. The project cost is Rs 174.27 crore, and the contract is to be executed in two years. The company’s share in the JV stands at 74 per cent, while MPCC’s share is 26 per cent.
Tata Power: The company’s unit, Tata Power Renewable Energy, signed a 26 MW solar power delivery agreement with Neosym Industry, to be set at Jamkhed, Maharashtra, and generate 59 MU of power per annum.
Bombay Dyeing: The company settled a dispute with Axis Bank over disputed land for Rs 149 crore and handed over 11,541 square metres of land to the lender. The settlement will enable independent and exclusive access to the bank’s headquarters.
Gland Pharma: Ankit Gupta has been appointed as Vice-President (strategy and investments) with effect from Sept. 4.
Dabur: The FMCG major’s unit, Dabur International, has decided to convert its existing branch, Dabur International Dubai, into a wholly owned subsidiary under the name of Dabur International FZE.
LIC Housing Finance: The company infused Rs 21.61 crore of incremental capital in LIC Mutual Fund Asset Management Company in a rights issue.
Dhanuka Agritech: The company launched an herbicide for sugarcane crops that has effective control of broad and narrow leaf weeds for the domestic market.
Ramco Cements: The company commissioned the balance of the 3 MW capacity of the Waste Heat Recovery System out of the 12 MW capacity in its Kolimigundla plant. With this, total operating capacity has gone up to 43 MW.
Delta Corp: Europe-based Societe Generale has bought 23.42 lakh equity shares or 0.88 per cent stake in the casino gaming company via open market transactions, at an average price of Rs 182 per share. Zerodha Broking sold 25.5 lakh shares or 0.95 per cent stake in the company at an average price of Rs 182.12 per share. Societe Generale held 1.43 per cent stake in Delta Corp as of June 2023.
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