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
Promoter Kuldip Singh Rathee will be selling a 6.05% stake in ASK via an offer for sale (OFS) on September 26-27. The sale comprises a base issue size of 5.5% and a greenshoe option of 0.55%. The OFS will open for non-retail investors on September 26 and for retail investors on September 27. The floor price has been set at ?433 per share.
Peak XV Partners and other private equity investors are likely to sell up to a 20% stake in Five Star Business Finance through a block deal, according to CNBC-TV18 sources. The block deal size could be close to $500 million.
The company may explore plans to enter the healthcare sector by establishing its own chain of hospitals, reports CNBC-TV18, quoting sources. With these hospitals, the company aims to tap into new levels of value creation within the healthcare ecosystem.
Promoter entities Hibiscus Trade and Investment, and Ardour Investment Holding have bought a 2.96% stake in the company. Hibiscus acquired 2.01 crore equity shares (1.27% stake) between July 30 and September 18, 2024, while Ardour purchased 2.67 crore shares (1.69% stake) between September 19 and September 23, 2024.
The company's board of directors will meet on October 8 to consider a fourth interim dividend on equity shares for FY25. The record date for determining shareholder entitlement for the dividend has been set as October 16.
Carlyle Aviation Management has sold a 1.42% stake in the aviation company between September 17 and September 23, 2024, through open market transactions. As a result, Carlyle's stake has decreased from 3.75% to 2.34%.
The National Company Law Tribunal (NCLT) in Chennai has approved the merger of IDFC Financial Holding with IDFC, and the subsequent merger of IDFC into IDFC First Bank.
The board has appointed CS Verma as Chairman of the company, effective September 22, following the end of S K Tuteja's term on September 21.
The board has appointed Anjuly Chib Duggal as Chairperson, effective September 29. Gurcharan Das, Chairperson; Chittaranjan Dua, Independent Director; and Anil Kumar Gupta, Independent Director, will retire from the board upon the completion of their second tenure, effective September 28.
The board has reappointed SB Garware as Chairman and Managing Director of the company for a five-year term, effective November 1. Chirag Doshi has been appointed as an Independent Director, and Sarita Garware Ramsay has been reappointed as a Director.
The company has acquired an additional 8.82% stake in Baobab Mining and Chemicals Corporation (BMCC), a Senegal-based rock phosphate mining company, bringing its total shareholding to 53.8%. It will invest $3.84 million (Rs 32 crore) in BMCC, in addition to a loan infusion of $6.5 million (Rs 54 crore) to fund expansion projects and meet working capital requirements.
Housing & Urban Development Corporation (HUDCO)
The board has appointed Daljeet Singh Khatri as Chief Financial Officer (CFO) of the company, replacing Reva Sethi, effective immediately. Previously, Khatri was the Director (Finance) of the company.
The board has decided to reappoint Asish Kumar Chaudhuri as Chief Executive Officer (CEO) of the company for a one-year term, effective October 1.
The company has incorporated a subsidiary in Bangladesh, Greenlam Overseas Bengal, to operate as a distributor and wholesaler of high-pressure laminates and other paper/wood-based products.
The IT services company has announced a strategic collaboration with Polestar, the Swedish electric performance car brand. The partnership will focus on Polestar's in-car infotainment development, software and electronics engineering, user experience, and cloud-powered digital services.
Bulk Deals
SBI Mutual Fund has acquired an additional 2.8% stake in KPR at an average price of Rs 925 per share, valued at Rs 900.54 crore. Meanwhile, promoter K P Ramasamy has sold a 3.07% stake in the company at an average price of Rs 925.12 per share, amounting to Rs 971.37 crore.
Block Deals
Goldman Sachs (Singapore) Pte - ODI purchased 5,52,189 equity shares in the company at an average price of Rs 824 per share from Duro India Opportunities Fund Pte Ltd FDI.
UBS Principal Capital Asia acquired 30,72,730 equity shares in HDFC Bank at an average price of Rs 1,768.05 per share from BNP Paribas Financial Markets.
The Vacuum Forming Company bought 9 lakh shares in Pidilite Industries at an average price of Rs 3,262 per share from promoter Ajay Balvantray Parekh.
Promoter Subir Malhotra acquired 3.75 lakh shares in the company at an average price of Rs 396 per share from fellow promoter Rahul Ramnath Katyal.
Madhusilica purchased 18.37 lakh equity shares in the company at an average price of Rs 136.05 per share from the Edelweiss Employees Welfare Trust.
SME Listing on September 26
Kalana Ispat
Stock Trades Ex-Date for Rights
Purple Finance
F&O Ban
Aditya Birla Fashion & Retail, Granules India, Hindustan Copper, Vodafone Idea, Indian Energy Exchange
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