Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and appointments, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
Medi Assist Healthcare Services
Promoter Bessemer India Capital Holdings II Ltd is likely to sell Medi Assist's shares worth Rs 540 crore through a block deal, reports CNBC-Awaaz citing sources. The shares are likely to be sold at Rs 570 apiece, which implies a nearly 7 percent discount to the current market price.
The Board has approved the execution of binding documents between the company, Adani Renewable Energy Sixty Four (ARE64L), and TotalEnergies Renewables Singapore Pte. TotalEnergies will make a further investment of $444 million to form a new 50:50 joint venture company with Adani Green Energy. The new joint venture will house a 1,150 MWac portfolio.
The Cabinet Committee on Security has approved the proposal for the procurement of 240 aero-engines (AL-31FP) for the Su-30MKI aircraft of the Indian Air Force under the Buy (Indian) category from the company, at a cost of over Rs 26,000 crore.
Microfinance subsidiary Belstar Microfinance has received approval from the market regulator SEBI to launch its IPO. Belstar plans to raise Rs 1,000 crore via a fresh issue and Rs 300 crore through an offer-for-sale.
Gensol and Matrix Gas & Renewables emerged as the lowest bidders for the EPC contract to develop a bio-hydrogen project for India’s leading power generation company. Through this project, the companies will convert 25 tons of bio-waste into 1 ton of hydrogen per day. The project is valued at Rs 164 crore.
The company has signed a license agreement for an 80-room hotel property in Gir, Gujarat. The property will be managed by its subsidiary, Carnation Hotels, and is expected to open in FY30.
The board will meet on September 5 to discuss the proposal for the buyback of equity shares of the company.
The company’s total production in August increased by 2.1% to 1.69 lakh units, compared to 1.65 lakh units in the same period last year.
The board has approved an investment of $100 million by the company’s subsidiary, Welspun Pipes Inc., for the upgradation of HFIW (high-frequency induction welding) pipes manufacturing and coating capability in the USA. This investment will be funded through local debt and internal accruals and will be spread over 18 months.
The company has entered into a Share Purchase Agreement with Swiggy to acquire its 1.5 lakh equity shares of Re 1 each by making an investment of Rs 5.175 crore.
Iron ore production in August fell by 10% year-on-year to 3.07 million tons, and sales declined by 11.3% to 3.14 million tons.
The company’s subsidiary, International Carbon Exchange (ICX), has entered into an Issuer Agreement with the International Tracking Standard Foundation (I-TRACK Foundation of The Netherlands) and Evident EV (of the United Kingdom). This agreement authorizes ICX to act as a local issuer of International Renewable Energy Certificates (I-REC) in the Indian market.
Shiva Chinnasamy has been appointed as the Chief Technology & Product Officer of the company, effective September 2.
The bank stated that neither it nor its group companies have paid any salary or granted any employee stock option plans (ESOPs) to Madhabi Puri Buch after her retirement, other than her retiral benefits. She had opted for superannuation effective October 31, 2013. During her employment with the ICICI Group, Buch received compensation in the form of salary, retiral benefits, bonuses, and ESOPs, in line with applicable policies.
Bulk Deals
HDFC Mutual Fund sold a 1.16% stake in Sadbhav at an average price of Rs 33.13 per share, amounting to Rs 6.6 crore.
Baroda BNP Paribas Mutual Fund has bought a 0.98% stake in TCNS at an average price of Rs 576.14 per share, valued at Rs 35.95 crore. However, Morgan Stanley Asia Singapore Pte sold a 0.53% stake at an average price of Rs 574.64 per share, amounting to Rs 19.4 crore.
Investor Siddhartha Bhaiya sold a 0.6% stake in Vibrant at an average price of Rs 78.02 per share, valued at Rs 1.08 crore.
Mainboard Listing on September 3
Premier Energies
SME Listing on September 3
Indian Phosphate, Vdeal System, Jay Bee Laminations
Stocks Turn Ex-Dividend
Deepak Fertilisers, Fineotex Chemical, Ganesha Ecosphere, Goa Carbon, Ion Exchange, The Indian Wood Products Company, Karnataka Bank, Lehar Footwears, Lakshmi Automatic Loom Works, Sakthi Finance, Savera Industries, Tamboli Industries, Tribhovandas Bhimji Zaveri, Vinati Organics, ZF Steering Gear
Stock Trades Ex-Date for Buyback
Nucleus Software Exports
Stock Trades Ex-Date for Bonus
Garment Mantra Lifestyle
Stock Trades Ex-Date for Amalgamation
TCNS Clothing
Stocks Under F&O Ban
Balrampur Chini Mills, Hindustan Copper
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