Stocks to Watch, 06 May: Stocks like Computer Age Management Services, Bombay Dyeing & Manufacturing Company, Zee Media Corporation, Jammu & Kashmir Bank, Prataap Snacks, Hind Rectifiers, Cigniti Technologies, Coforge, Indian Energy Exchange, Paras Defence and Space Technologies, and IRCON International will be in focus on May 6.
UltraTech Cement said it will set up wires and cables plant in Bharuch, Gujarat, with an expenditure of Rs 1,800 crore over next two years
The market may see some rangebound trade after Friday's rally, though the overall trend remains positive, given the decline in the VIX. Below are some trading ideas for the near term.
Macrotech Developers, NLC India, Annapurna Swadisht, Wipro, Lemon Tree Hotels, Tata Steel, Procter & Gamble Hygiene & Health Care, GMM Pfaudler, and Gulshan Polyols will also be in focus on August 29.
The Supreme Court's timeline of key rulings culminates in allowing states to retroactively collect taxes on mineral-bearing land from April 2005, impacting the mining industry.
After the order was pronounced on July 24, the Centre urged the court to make the judgment applicable prospectively, while the states want it retrospectively. The issue is 60 years old
UltraTech Cement's acquisition of a 23 percent stake in India Cements is a strategic non-controlling financial investment, expected to capitalize on market conditions, according to CFO Atul Daga.
Kesoram Industries has reported net losses for 12 consecutive quarters, accompanied by erratic fluctuations in revenue.
The proposed combination relates to the acquisition of the grey cement business of Kesoram Industries Limited by UltraTech Cement Ltd pursuant to a composite scheme of arrangement dated November 30, 2023, according to a press release.
There were pending buy orders of 7,640,349 shares, with no sellers available.
The transaction is expected to be completed within 9-12 months, subject to regulatory approvals
Further, according to the sources, Ultratech is exploring both existing promoter buyout or cement business acquisition.