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HomeNewsBusinessMarketsStock Radar: ONGC, Reliance, PNB, AstraZeneca, GR Infra, BGR Energy, Arkade Developers, Coal India in focus on Tuesday

Stock Radar: ONGC, Reliance, PNB, AstraZeneca, GR Infra, BGR Energy, Arkade Developers, Coal India in focus on Tuesday

Pondy Oxides and Chemicals, Thangamayil Jewellery, Power Grid Corporation of India, Cubex Tubings, G R Infraprojects, Western Carriers India, and Northern Arc Capital will also be in focus on September 24.

September 24, 2024 / 01:17 IST
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    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

    Punjab National Bank

    The bank opened its Qualified Institutions Placement (QIP) issue on September 23, with a floor price of Rs 109.16 per share. According to CNBC-TV18, quoting sources, the base size of the QIP is Rs 2,500 crore, with a green shoe option of Rs 2,500 crore.

    Coal India

    The state-run coal mining company has signed a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) for setting up a 2x800 MW brownfield thermal power project at RRUVNL's existing Kalisindh Thermal Power Station. Coal India will hold a 74% stake in the joint venture, with the remaining 26% held by RRVUNL.

    Reliance Industries, ONGC, Vedanta, Oil India

    India’s biggest oil and gas bid round attracted four bidders, including state-owned ONGC and Oil India, and Vedanta, with most blocks receiving just two bids. In the OALP-IX bid round, where 28 blocks were offered for oil and gas exploration, Reliance Industries Ltd-bp plc, for the first time, bid alongside ONGC for one block in the Gujarat offshore. ONGC bid for 14 blocks independently and for four additional blocks in partnership with Oil India and Indian Oil Corporation. Vedanta submitted bids for all 28 blocks on offer.

    Pondy Oxides and Chemicals

    The company plans to raise up to Rs 250 crore via Qualified Institutions Placement (QIP) in one or more tranches.

    Thangamayil Jewellery

    A board meeting will be held on September 26 to consider raising funds through the issuance of equity shares or bonds.

    Firstsource Solutions

    The RP-Sanjiv Goenka Group company's subsidiary, Firstsource Solutions UK, has executed a share purchase agreement for the acquisition of 100% ownership of Ascensos, UK, for GBP 42 million.

    Power Grid Corporation of India

    The company has been declared the successful bidder to establish an inter-state transmission system in Gujarat and has received the Letter of Intent. The project involves the installation of STATCOMs at Khavda Pooling Station 1 and Khavda Pooling Station 3, along with associated bay extension work in Gujarat.

    BGR Energy Systems

    The Chennai Metropolitan Water Supply & Sewage Board has terminated a contract worth Rs 440 crore with BGR due to delays in project execution and poor quality of RO water. BGR Energy noted that the termination will reduce its turnover and profit to the extent of the pending contracts, with no other material impact on its financials, operations, or other activities.

    Cubex Tubings

    The board has approved the re-designation and appointment of Virendra Bhandari as Managing Director and Chairman of the company, along with the appointment of Akshay Bhandari as an additional Whole Time Director for five years, effective September 23.

    G R Infraprojects

    The company has emerged as the lowest bidder for a project worth Rs 903.53 crore from Maharashtra Metro Rail Corporation, Nagpur. The project involves the design and construction of an elevated metro viaduct.

    AstraZeneca Pharma

    The company has received approval to import, sell, and distribute Durvalumab Solution for infusion (Imfinzi) from the Central Drugs Standard Control Organisation, Directorate General of Health Services, Government of India. Durvalumab is used to treat adults with biliary tract cancer (BTC).

    Reliance Power

    The board has approved the issuance of up to 46.2 crore equity shares and/or warrants convertible into equity shares at an issue price of Rs 33 per share, aggregating Rs 1,524.60 crore, through a preferential allotment.

    DB Realty (Valor Estate)

    The board has approved the re-appointment of Shahid Balwa as Vice Chairman and Managing Director of the company for three years, effective December 10, 2024.

    AYM Syntex

    Suyog Chitlange has resigned as Chief Financial Officer and Key Managerial Personnel of the company, effective September 23.

    Bulk Deals

    Sky Gold

    Ace investor Ashish Kacholia sold a 0.56% stake in the company at an average price of Rs 2,602.93 per share, amounting to Rs 19.97 crore. Kacholia held a 2.63% stake in the company as of September 5, 2024.

    V2 Retail

    Motilal Oswal Mutual Fund, via its Large and Midcap Fund, bought a 2.12% stake in the company at an average price of Rs 1,160 per share from India 2020 Fund II.

    Nectar Lifesciences

    Foreign investor Isengard Direct PE LLC sold a 5.3% stake in the company at an average price of Rs 38.97 per share and a 4.95% stake at an average price of Rs 39.41 per share.

    Senco Gold

    Oman India Joint Investment Fund II sold a 0.76% stake in the jewellery retailer at an average price of Rs 1,280.16 per share. However, ICICI Prudential Life Insurance Company bought a 0.63% stake at an average price of Rs 1,280 per share.

    Alicon Castalloy

    SBI Mutual Fund bought a 2.29% stake in the company at an average price of Rs 1,300 per share. Rajeev Sikand, meanwhile, sold a 1.23% stake, and promoter entity Pamela Trading LLP offloaded a 0.98% stake in Alicon at the same price.

    Mainboard Listing on September 24

    Western Carriers India, Arkade Developers, Northern Arc Capital

    SME Listing on September 24

    Popular Foundations, Deccan Transcon Leasing, Envirotech Systems, Pelatro, Osel Devices

    Results Today

    ECOS India Mobility & Hospitality

    Stock Trades Ex-Dividend

    Bhatia Communications & Retail (India)

    F&O Ban

    Aditya Birla Fashion & Retail, Vodafone Idea, Aarti Industries, Biocon, Chambal Fertilisers and Chemicals, GNFC, Granules India, LIC Housing Finance, NALCO, Oracle Financial Services Software, Punjab National Bank, SAIL

    Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

    Sunil Shankar Matkar
    first published: Sep 24, 2024 01:17 am

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