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
The automotive components maker opened its Qualified Institutions Placement (QIP) on September 4. The floor price has been fixed at Rs 699.01 per share. According to CNBC-TV18 sources, the company is likely to raise Rs 2,400 crore via QIP. Additionally, it has received certification for another product—the Hub Wheel Motor for electric two-wheelers—under the Production-Linked Incentive (PLI) Scheme from the Ministry of Heavy Industries, for availing the benefits/incentives under the PLI scheme.
The Board of Directors of the company will meet on September 5 to consider a proposal for the buyback of equity shares of the company.
Reliance Industries (RIL)
The Board of Directors of the company will meet on September 5 to consider the issue of bonus shares in the ratio of 1:1 to the equity shareholders of the company. Additionally, Reliance won the award to build a 10 GWh battery storage project under the government's Production-Linked Incentive Scheme.
The Board of the housing finance company will meet on September 9 to consider the issuance of non-convertible debentures (NCDs) up to Rs 2,500 crore on a private placement basis, in tranches over the next six months.
General Insurance Corporation of India
The Government of India has decided to exercise the oversubscription option in the offer for sale on September 5. The offer for sale was subscribed 1.08 times the base size by non-retail investors on September 4.
Gautam Mukherjee has resigned as CFO of the company, effective August 29. The board has appointed Man Mohan Pal Singh Chadha as Whole-Time Director for five years, effective September 4, who will also be the Interim Chief Financial Officer (CFO) of the company. Additionally, Sanjeev Kumar Elwadhi has been appointed as Managing Director for five years, effective September 4.
ICRA has upgraded the rating on the company's long-term instruments from ‘AA-’ to ‘AA’ and reaffirmed the rating on short-term instruments at ‘A1+’. The ratings remain on ‘watch with developing implications’.
Century Textiles and Industries
The company has issued a corporate guarantee in favour of Hindalco Industries (HIL) for the acquisition of a land parcel in Thane from HIL by Ekamaya Properties. Ekamaya Properties is a wholly-owned subsidiary of Birla Estates (BEPL), which is a wholly-owned subsidiary of Century Textiles.
The company has executed a Conveyance Deed with OE Business Park (OEBPPL) for the sale of the One Earth Property, its corporate office, for Rs 440 crore. OEBPPL is a special purpose vehicle, shares of which are held by funds managed by 360 ONE Alternates Asset Management. Upon completion of the sale, the One Earth Property will be leased back to Suzlon for five years with sub-leasing and licensing rights.
Kalpataru Projects International
The board has approved the conversion of the outstanding loan granted to the company's subsidiary Kalpataru Power Do Brasil Participações S A (KPBPSA), Brazil, into equity shares of KPBPSA. The equity shares will be subscribed at a price of BRL 2.10 per share.
Arun Mittal has resigned as the Managing Director & CEO of the company's subsidiary Exide Energy Solutions due to personal reasons, effective October 31. Mandar V Deo has been elevated and appointed as MD & CEO of Exide Energy Solutions, effective November 1. Mandar V Deo was the Joint Managing Director of Exide Energy Solutions at the time of his elevation.
Bulk Deals
Baron Emerging Markets Fund bought a 0.52% stake in the company at an average price of Rs 88.66 per share, amounting to Rs 13.6 crore.
Ecos India Mobility and Hospitality
TNTBC, as the Trustee of Nomura India Stock Mother Fund, purchased a 3.8% stake in Ecos at an average price of Rs 439.11 per share. Matthews India Fund picked up a 2.4% stake at an average price of Rs 400.28 per share, and Plutus Wealth Management LLP acquired a 1.78% stake at an average price of Rs 443.33 per share, totaling Rs 205.6 crore.
Foreign portfolio investor Aviator Global Investment Fund sold a 0.64% stake in the company at an average price of Rs 887.56 per share, valued at Rs 26.62 crore.
ICICI Prudential Mutual Fund and Ghisallo Master Fund LP bought a 2.36% stake in the IT company at an average price of Rs 2,751 per share, amounting to Rs 200.2 crore. However, Europacific Growth Fund sold a 5.57% stake in Mastek at an average price of Rs 2,766.36 per share, valued at Rs 475.6 crore.
Promoter AMI Holdings bought an additional 0.97% stake in the company at an average price of Rs 107.25 per share.
SME Listing on September 5
Travels & Rentals
Stocks Turn Ex-Dividend
BLS International Services, Gulf Oil Lubricants India, Heranba Industries, IRCON International, Jay Bharat Maruti, JBM Auto, Jupiter Wagons, NIIT, NIIT Learning Systems, Prithvi Exchange, Rhi Magnesita India, Shetron, Silver Touch Technologies
Stock Trades Ex-Date for Buyback
Aarti Drugs
Stock Trades Ex-Date for Rights
Oriental Trimex
Stock Trades Ex-Date for Split
Sapphire Foods India
F&O Ban
RBL Bank, Aditya Birla Fashion and Retail, Balrampur Chini Mills, Hindustan Copper
Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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