Stocks to Watch: Harsha Engineers, Britannia Industries, Coal India, Anupam Rasayan, SBI, RIL
After a brutal selloff in the last session, the Sensex and Nifty indices may continue to be weak on Monday too. At 7:30 am, the SGX Nifty futures were 100 points lower at 17,227 levels.
Globally, the S&P500 and Nasdaq dropped around 2 per cent each on Friday. This morning in Asia, Nikkei and Kospi also declined by 2 per cent each amid rising recession fears.
That said, here are some stocks to watch out for in trade today:
Harsha Engineers: The company will make its debut on the bourses today. The issue price is fixed at Rs 330 per share. As per IPO Watch, the stock can list with a 50 per cent premium at Rs 500.
Ambuja Cements: Shares of India’s second-largest cement maker have been put on a short-term watchlist after they surged more than 40 per cent following billionaire Gautam Adani’s acquisition of the company in May. Ambuja Cements was added to the Additional Surveillance Mechanism, which the bourse uses to “alert and advice investors to be extra cautious while dealing in these securities.” Read here
Sterling & Wilson Renewable Energy: The company has bagged a reported USD 1.5-billion order from the government of Nigeria, along with its consortium partner Sun Africa, for setting up solar PV power plants. The order will be executed through Sterling & Wilson’s US step-down subsidiary Sterling & Wilson Solar Solutions Inc. Read here
Suzlon Energy: The company on Sunday said its board has approved raising Rs 1,200 crore via a rights issue of 240 crore shares. The Securities Issue Committee of the Board, at its meeting held on Sunday, approved the rights issue, the company said in a regulatory filing. Read here
Reliance Industries: Reliance Retail’s digital commerce platform JioMart will morph into an e-marketplace offering multiple brands – from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery – as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. Read more
Siemens: The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Siemens Ltd against the invocation of its bank guarantees by Meenakshi Energy. Meenakshi Energy Ltd (MEL) which is presently facing insolvency proceedings, was setting up a 700 MW thermal plant, in which Siemens was a sub-contractor for the project. Read more
Anupam Rasayan India : The company has been directed by GPCB (Gujarat Pollution Control Board ) to pay Rs 1 crore as an interim environmental damage compensation (affected the air quality due to fire ).
Coal India: As per a report by CNBC-TV18, the coal ministry said the company would sign a Memorandum of Understanding with three major PSUs for coal to chemical products. It will set up four surface coal gasification projects, and aims for 100 MT coal gasification by 2030, says the ministry.
Britannia Industries: The board of directors has elevated Varun Berry to Executive Vice-Chairman and Managing Director of the company, and appointed Rajneet Kohli as Executive Director and Chief Executive Officer, with immediate effect. Rajneet Kohli will report to Varun Berry.
Spandana Sphoorty: Board to consider fund raise via Non-Convertible Debentures (NCDs) on September 28, 2022
Campus Activewear: The company’s board has approved the merger of its wholly-owned subsidiary, Campus AI with the company.
State Bank of India: The bank has raised Rs 4,000 crore through non-convertible debentures on private placement basis.
Unichem Laboratories: The company has completed its sale of 19.97 per cent equity shares in Optimus Drugs to Sekhmet Pharmaventures. Accordingly, it has received payment towards completion of sale of first tranche.
RailTel Corporation of India: The Government of India has appointed Sanjai Kumar as Chairman and Managing Director of the company, with effect from September 23.
Embassy Office Parks REIT: As per Reuters, Blackstone Inc will sell a stake worth up to $400 million in Embassy Office Parks REIT, India’s biggest real estate investment trust, via block deals, and Abu Dhabi’s sovereign wealth fund is likely to pick up at least half of the stake that Blackstone is to sell.
Goa Carbon: The company said the board of directors will meet on September 29 to consider raising of funds through issue of equity shares to the existing equity shareholders. The fund raising will be through rights issue.
Laxmi Organic Industries: The company has resumed its operations at its Mahad plant in Maharashtra. It will continue to increase the capacity utilisation in next few weeks. The plant was shut down for 21 days to undertake maintenance activities.
Stocks in F&O ban: Ambuja Cement, Can Fin homes, Delta Corp, Vodafone Idea, PNB, Zee Entertainment.