Stocks To Watch: Zee Entertainment, Allcargo, Redington, Shriram City, Vijaya Diagnostic, Ami Organics
India's stock benchmarks closed lower on Monday as banking and energy stocks offset the gains in I.T. and metal stocks. The S&P BSE Sensex fell 0.22% to 58,177.76. The NSE Nifty 50 declined nearly 0.1% to 17,355.30. Reliance Industries Ltd. contributed the most to the index decline and had the largest move, decreasing 2.2%.
Here are the stocks to watch in trade today:
Zee Entertainment: Manish Chokhani and Ashok Kurien have resigned from the position of non-executive non-independent directors of the company with immediate effect. Invesco Developing Markets Fund and OFI Global China Fund LLC in a letter on September 11 requisitioned EGM to remove Punit Goenka, Manish Chokhani and Ashok Kurien as directors.
Allcargo Logistics: The company has dropped plans to delist its shares after public shareholders voted against the offer to take the company private.
Redington (India): Step down subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. Turkey concluded its binding Share Purchase Agreement to acquire 100% shares of Brightstar Telekomünikasyon Dagitim Ltd. Sti, for $35 million.
ARSS Infrastructure Projects: State Bank of India has filed a petition under IBC alleging Rs 2,273 crore payment default and seeking initiation of Corporate Insolvency Resolution Process against the company. ARSS is seeking legal advice and will take all appropriate steps to protect its interest in the aforesaid matter, the company said.
Shriram City Union Finance: To raise up to Rs 850 crore via secured NCD issue.
Wipro: The company has partnered First Horizon Bank to transform the core banking channels and servicing capabilities of VirtualBank, an established digital bank that FHN inherited from Louisiana-based IBERIABANK as part of the merger completed in 2020.
DCM Shriram: The company has approved the proposal to acquire 50% stake--17.32 lakh equity shares of Rs 10 each--of Shriram Axiall, a 50:50 JV between the company and Axiall LLC (USA), from Axiall LLC.
KNR Constructions: The company received a Letter of Acceptance for Hyderabad Growth Corridor - widening of existing service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad. The contract is worth Rs 312.79 crore and is to be completed within a period of 15 months from the date of signing of the agreement.
Dilip Buildcon: Subsidiary Bangalore Malur Highways has received the letter of the appointed date from the National Highways Authority of India and had declared the appointed w.e.f. September 15.
Vijaya Diagnostic Centre: The stock will list on the bourses today. The final issue price has been fixed at Rs 531 per share.
Ami Organics: The company will list its equity shares on the BSE and the NSE today. The offer price has been fixed at Rs 610 per equity share.
Pledge Share Details
Ajanta Pharma: Promoter Ravi Agrawal revoked pledge of 2.62 lakh shares on September 9.
Solara Active Pharma Sciences: Promoter Pronomz Ventures LLP revoked pledge of 1.75 lakh shares on September 8. Promoter Chayadeep Ventures LLP created a pledge of 1.75 lakh shares on September 8.
As reported on September 13.
AVT Natural Products: Promoter Shanthi Thomas bought 57,000 shares between September 8-9.
GHCL: Promoter Ram Krishna Dalmia Foundation sold 5,000 shares on September 9.
Ramkrishna Forgings: Promoter Naresh Jalan bought 5,000 shares on September 9.
SBI Cards and Payment Services: Promoter SBI Life Insurance Company sold 2 lakh shares on September 9.
Who’s Meeting Whom
SP Apparels: To meet JHP Securities & Equitree Capital Advisors on September 14.
Mahindra Holidays & Resorts: To meet Yes Securities on September 14.
Capital Trust: To meet Dimensional Securities on September 14.
Tata Motors: To meet several analysts and institutional investors on September 14 and September 15.
Symphony: To meet Quantum Advisors on September 15.
Allcargo Logistics: To meet Elara Securities (India) on September 15.
Ex-Date AGM: Arvind SmartSpaces, Dodla Dairy, Tamil Nadu Newsprint & Papers, Hindustan Copper, Apex Frozen Foods, Finolex Industries, ITD Cementation India, Jamna Auto Industries
Ex-Date Final Dividend: Apex Frozen Foods, Bharat Electronics, Eldeco Housing & Industries, Finolex Industries, Jamna Auto Industries, Maharashtra Seamless, Prakash Pipes, Sandur Manganese & Iron Ores
Ex-Date Dividend: Asian Star Co, Dharamsi Morarji Chemical, Hindustan Copper, ITD Cementation India, Tamil Nadu Newsprint & Papers
Ex-Date Special Dividend: Finolex Industries
Ex-Date Bonus Issue: Mahindra Lifespace Developers
Record Date Final Dividend: Saurashtra Cement, Mishtann Foods
Record Date Dividend: JTL Infra, Dalmia Bharat Sugar and Industries
Price Band Revised From 20% To 10%: Dish TV India, Goldiam International