Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, acquisitions, and quarterly earnings, here’s a quick look at which stocks will be in focus in today's trade:
Vikram Solar Q1 (Consolidated YoY)
Profit zooms 483.9% to Rs 133.4 crore Vs Rs 22.8 crore
Revenue soars 79.7% to Rs 1,133.6 crore Vs Rs 630.9 crore
Stocks to Watch
Sumitomo Mitsui Banking Corporation is likely to exit the bank by selling its entire 1.65% stake via block deals, with an offer size of Rs 6,166 crore and a floor price of Rs 1,880 per share, reports CNBC-Awaaz, quoting sources.
Promoter Akshay Bansarilal Arora is set to sell up to 1,18,51,850 equity shares of the company (6.83% stake), including a greenshoe option of 59,25,925 shares (3.42% stake) via offer-for-sale (OFS) on September 10 and 11. The OFS will open for non-retail investors on September 10, and for retail investors (and non-retail investors who choose to carry forward their un-allotted bids from the previous day) on September 11. The floor price has been fixed at Rs 675 per share.
The US Food and Drug Administration (FDA) has now classified the Halol facility as Official Action Indicated (OAI). This means the FDA considers the facility not fully compliant with certain current good manufacturing practices (CGMP).
The Halol facility is under Import Alert, resulting in the refusal of shipments from the facility into the US — barring certain exemptions due to drug shortages — until the facility becomes fully compliant with FDA and CGMP standards.
ICICI Prudential Life Insurance Company
The Board will meet on September 12 to consider fundraising, in one or more tranches, via the issuance of non-convertible debentures, on a private placement basis.
The company’s associate firm Bhilwara Energy has acquired Statkraft's 49% minority stake in Malana Power Company. The acquisition makes Bhilwara Energy of the LNJ Bhilwara Group the sole owner of Malana Power Company. The transaction includes Statkraft's stake in the Malana Hydropower Plant (86 MW) and the Allain Duhangan Hydropower Plant (192 MW) in Himachal Pradesh.
The board of directors of Bhilwara Energy has approved the allotment of 1,75,95,979 partly paid-up equity shares at Rs 142.08 per share to investors (Singularity and its affiliates). As a result, Bhilwara Energy has received Rs 25 crore as share application money (being 10% of the additional subscription amount) from investors. Post this allotment, investors' shareholding in Bhilwara Energy will increase from 9.6% to 17.51%. Singularity AMC was founded in 2015 by Yash Kela and Madhusudan Kela.
The two- and three-wheeler maker has decided to fully pass on the benefit of the recent GST reduction to customers across its relevant Bajaj and KTM motorcycles and three-wheeler range, effective September 22.
It also announced a price reduction of up to Rs 20,000 on two-wheelers and up to Rs 24,000 on the three-wheeler range.
Sterling and Wilson Renewable Energy
The company has received a Letter of Intent (LOI) from a leading private Independent Power Producer (IPP) for a BOS EPC package for the development of a 300 MW AC / 420 MWp DC solar PV project, along with a 220/33 kV pooling substation in Rajasthan. Total value of the contract is Rs 415 crore, including operation and maintenance.
Samvardhana Motherson International
The company’s indirect subsidiary Motherson SAS Turkey Otomotiv Servis Ticaret (MSAS Turkey) has completed the acquisition of the remaining 25% stake in SMR Plast Met Molds and Tools Turkey Kalip Imalat Anonim Sirketi, and SMR Plast Met Automotive Tec Turkey Plastik Imalat Anonim Sirketi.
The company has invested Rs 115 crore in its subsidiary First Energy (FEPL) for further investment in First Energy (FE10), a wholly owned subsidiary of FEPL. Both FEPL and FE10 have completed the allotment of equity shares against the said investment.
The company will pay a final dividend of Rs 0.90 per share on September 23.
The company has secured its third consecutive order for a 9-layer blown film plant under its co-extrusion product segment. The order, valued at $1.17 million, has been placed by a UAE-based customer. The plant will be commissioned for the production of high-barrier films, with delivery scheduled for Q4FY26.
In an official statement regarding the summon issued by the Directorate of Enforcement related to the Rajasthan Premier League conducted by the Rajasthan Cricket Association, the company stated that its involvement in the Rajasthan Premier League was limited to sponsorship. All payments made by the company toward sponsorship were duly accounted for, supported by proper documentation, and effected through valid banking channels.
The company has maintained complete records of the sponsorship transaction, which are available for inspection and will be duly furnished before the Enforcement Directorate, as and when required.
Tata Motors has executed the Share Subscription and Shareholders’ Agreement with Tata Power Renewable Energy to acquire a 26% equity stake in TP Paarthav and TP Marigold. Both are special purpose vehicles (SPVs) and subsidiaries of Tata Power Renewable Energy.
Royal Enfield will pass on the full benefit of the GST rate reduction to its customers across its motorcycle business, service, apparel, and accessories range, effective September 22.
General insurance data for August (YoY) by General Insurance Council
ICICI Lombard General Insurance premium grows 2.1% to Rs 2,182.17 crore Vs Rs 2,137.32 crore
The New India Assurance Company premium increases 8.67% to Rs 2,196.8 crore Vs Rs 2,021.6 crore
Go Digit General Insurance premium jumps 13.55% to Rs 737.84 crore Vs Rs 649.78 crore
Star Health and Allied Insurance premium rises 1.85% to Rs 1,425.65 crore Vs Rs 1,399.77 crore
Niva Bupa Health Insurance Company premium soars 2.74% to Rs 612.94 crore Vs Rs 596.58 crore
Bulk Deals
Promoter Kunjal Lalitkumar Patel has offloaded 7,88,686 shares (7.8% equity stake) in the power transformer maker at Rs 7,605.91 per share, valued at Rs 599.86 crore.
However, institutional investors including Aditya Birla Sun Life Insurance Company, Prudential Assurance Company, UTI Small Cap Fund, Bajaj Allianz Life Insurance Company, and Citigroup Global Markets Mauritius were buyers for some of the shares sold by the promoter, collectively picking up 4,77,770 shares (4.72% stake) in Voltamp for Rs 363.33 crore.
SME Listing on September 10
Optivalue Tek Consulting
Stocks Trade Ex-Dividend
Astra Microwave Products
Campus Activewear
Force Motors
Gujarat State Petronet
Indobell Insulations
Kitex Garments
Credo Brands Marketing
PNB Gilts
Sandur Manganese & Iron Ores
Share India Securities
Sigma Solve
ZR2 Bioenergy
Stock in F&O ban
RBL Bank
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