Let's catch up on the latest news from the stock market. From significant investments to major deals, fund raising and appointments, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
Subsidiary NTPC Green Energy has filed draft papers with the capital markets regulator to raise Rs 10,000 crore via an IPO.
Promoters Grid Equipments & GE Grid Alliance BV will be selling up to 11.7% equity stake in the company via an offer-for-sale (OFS), with an option to additionally sell up to a 3.9% stake as part of an oversubscription option. The floor price has been fixed at Rs 1,400 per share. The OFS will open for non-retail investors on September 19 and for retail investors on September 20.
Indian Renewable Energy Development Agency (IREDA)
The Government of India has approved the dilution of up to 7% shareholding in IREDA through the Qualified Institutions Placement (QIP) route, in one or more tranches.
Macrotech Developers (Lodha)
The company has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc for the acquisition of its shareholding in the Digital Infrastructure Platform entities—Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1—for Rs 239.56 crore. Post-acquisition, the company’s stake in these entities would increase to 70%, 66.67%, and 66.67%, respectively.
The board has re-appointed Srinivas Bommidala as Managing Director and Subbarao Gunuputi as Executive Director, effective January 31, 2025. Additionally, the board has re-appointed Madhva Bhimacharya Terdal as Executive Director, effective August 8, 2024.
Ion Exchange (India)
The company has secured contracts worth Rs 161.19 crore from Adani Power to provide comprehensive total water and environmental management solutions for the process and utility needs of 2 x 800 MW units at the Raipur & Raigarh Ultra Super Power Projects. The projects are expected to be completed within 18 months from the award date.
The gaming and sports media company announced its largest fundraise to boost its growth trajectory. The board has approved a preferential equity issue to raise Rs 900 crore. Additionally, Nazara has acquired an additional 19.35% stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crore, with 50% of the consideration paid in cash and the remaining amount in stock. With this acquisition, Nazara now holds a 91% ownership stake in Absolute Sports.
The board will meet on September 23 to consider the raising of long-term resources from domestic and/or global markets via the issue of equity shares and/or foreign currency convertible bonds.
The company has received a 'no objection' letter from the Reserve Bank of India (RBI) for the merger of Aditya Birla Finance with itself.
Power Grid Corporation of India
Power Grid has been declared the successful bidder to establish an inter-state transmission system for projects in Madhya Pradesh. The company has received a Letter of Intent for the project, which includes establishing a new 765/400/220 kV substation at Kurawar, along with 765 kV & 400 kV D/C transmission lines and associated bays extension works at other existing substations in Madhya Pradesh.
The company has awarded a contract for a 15.4 MW solar power project to Prozeal Green Energy.
The company has received a new order worth Rs 221 crore from SSS Realty. This brings the total order book to Rs 3,546 crore as of the current date.
LCL volume for August increased by 5% compared to last year and declined 1% compared to last month. FCL volume stood at 56,000 TEUs, registering its highest-ever monthly volume, with a growth of 10% year-over-year and 4% compared to the previous month.
The board has appointed Amit Kumar Verma as Chief Financial Officer (CFO) of the company, effective October 1, after the superannuation of Rajeev Kumar Dalmia.
Nippon Life India Asset Management
The board has appointed Parag Joglekar as Chief Financial Officer (CFO) of the company, effective September 19.
Trident Global BV, Netherlands, the wholly-owned step-down subsidiary, has applied for voluntary dissolution, effective September 17. Trident Global BV was inoperative, and this dissolution will not affect the performance or revenue of Trident.
The board has approved the issuance of up to 63,000 non-convertible debentures (NCDs) with a face value of Rs 1,00,000 each, amounting to Rs 630 crore, on a private placement basis.
Garden Reach Shipbuilders & Engineers
The company has received a contract from Carsten Rehder Schiffsmakler and Reederei GmbH & Co, KG Germany, to deliver an additional four multi-purpose vessels. The order is valued at an additional $54 million, bringing the total value for eight vessels to $108 million.
The board will consider raising funds via the issuance of non-convertible debentures through a public issue on September 23.
Bulk Deals
Mirae Asset Mutual Fund has bought a 2.16% stake in the company at an average price of Rs 105 per share from promoter QSR Asia Pte Limited.
Copthall Mauritius Investment has bought a 0.64% stake in the company at an average price of Rs 384.08 per share.
SME Listing on September 19
Excellent Wires and Packaging
Stocks Trade Ex-Dividend
Gujarat Alkalies & Chemicals, Hinduja Global Solutions, Hindustan Copper, First Custodian Fund, ABC India, Alicon Castalloy, Ansal Buildwell, APL Apollo Tubes, Balmer Lawrie, BCPL Railway Infrastructure, Bharat Agri Fert & Realty, Balmer Lawrie Investments, Beekay Niryat, Bright Outdoor Media, Competent Automobiles, Cybertech Systems, Denis Chem Lab, Entertainment Network (India), Fluidomat, The Hi-Tech Gears, HLE Glascoat, India Gelatine & Chemicals, Indoco Remedies, Keynote Financial Services, Kiran Vyapar, Lux Industries, Mangalore Chemicals & Fertilizers, Mazagon Dock Shipbuilders, MCX India, Medicamen Biotech, Mold-Tek Technologies, Mold-Tek Packaging, Munjal Auto Industries, Neogen Chemicals, Nikhil Adhesives, Indo-National, Olectra Greentech, Oriental Rail Infrastructure, Poly Medicure, PTC India, SAIL, Samrat Pharmachem, Sandu Pharmaceuticals, Sangam India, Sansera Engineering, Shivalik Bimetal Controls, Shalby, Sharda Motor Industries, Swan Energy, Systematix Corporate Services, Texmaco Rail & Engineering, Tirupati Foam, TruCap Finance, Vadilal Industries, Vadilal Enterprises
Stock Trades Ex-Date for Split
Nandan Denim
Stock Trades Ex-Date for Bonus
Saksoft
F&O Ban
Oracle Financial Services Software, Aarti Industries, Balrampur Chini Mills, Biocon, Birlasoft, GNFC, Granules India, LIC Housing Finance, Punjab National Bank, RBL Bank
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