Stocks To Watch: BSE, GATI, RITES, Route Mobile, Valiant Organics

Asian Markets are drifting lower at the start of the new trading week. Benchmark indices in Australia and South Korea are declining while those in Japan are shut on account of a holiday.

Futures on the Dow Jones are trading higher by 30 points. The index ended nearly 1% lower on Friday.

Indian equity markets saw modest gains last week. Indices recovered from the day’s low after a volatile final hour of trade. Pharma and I.T. stocks outperformed while Banks and FMCG stocks were the top laggards.

Stocks To Watch

• RITES: Board approves share buyback of up to 96.98 lakh shares or 3.88% of the total equity at Rs 265 per share. The buyback price is a 3.8% premium to Friday's closing price. Record date for the Rs 257 crore buyback is set as September 30.
• Punjab National Bank: Financial regulator of Kazakhstan has revoked the license of JSC Tengri Bank, where PNB has a 41.64% stake. The license was revoked on account of failure to observe prudential standards and other mandatory norms and limits.
• Godrej Properties: NCLT allows the petition of amalgamation of Wonder Space Properties with the company.
• South Indian Bank: Reduces base rate by 10 basis points to 9.75%. MCLR across various tenors too has been cut from September 20. One-Month MCLR now at 7.85% while one-year MCLR at 8.2%.
• BSE: Arbitration Tribunal declares the termiation of the agreements entered into with Dow Jones as invalid and has ordered that it shall continue to remain in force and effect. The award is being reviewed and shall be dealt with suitably as per advice of the legal counsel.
• Allcargo Logistics: Sheetal Gulati resigns as CFO from September 18.
• IGSEC Heavy Engineering: Aditya Puri re-appointed as Managing Director till April 2026.
• Future Enterprises: Defaulted in payment of commercial papers worth Rs 90 crore, due on September 14.
• MRPL: Shareholders give nod to raise Rs 5,000 crore through NCDs.
• Tata Metaliks: One of the blast furnaces and associated facilities in the company's Kharagpur plant is undergoing a planned shutdown for repair and maintenance, including hearth profiling from September 19. The operations are likely to be back on stream in the second half of October.
• Amber Enterprises: Acquired 20% stake in Sidwal Refrigerations Industries, which has now become a wholly-owned subsidiary of the company.
• Zydus Wellness: Passes special resolution for approval of issue and allotment of 21.22 lakh equity shares worth Rs 349.9 crore to Zydus Family Trust on a preferential basis. The shares will be alloted at a price of Rs 1,649 per share, a 13.3% discount to Friday's closing price. The company has also passed a special resolution to approve fund raising activities and issuance of securities worth Rs 750 crore through public or private offerings.
• IRCTC: To start 20 pairs of clone special trains from September 21 on specific routes.
• Reliance Home Finance: National Housing Bank imposes a penalty of Rs 20,000 for contravention of certain provisions of Housing Finance companies.
• Route Mobile: To list on the bourses today.
• CAMS: IPO opens for subscription today. The company has raised Rs 666 crore from anchor investors ahead of the IPO.
• Chemcon Speciality Chemicals: Anchor allotment of 28.06 lakh shares at Rs 340 per share worth Rs 95.4 crore. The IPO opens for subscription today.
• Dish TV: Promoter World Crest Advisors invoked pledge on 98.13 lakh shares between September 14-15.

Who’s Meeting Whom

• Tata Power: To meet HSBC AMC on September 21.
• Tata Motors: To meet UTI Mutual Fund, UBS AMC and other investors between September 21-24.
• Shriram City Union Finance: To meet Fidelity International and RC Goldfarb on September 21.
• Dixon Tech: To meet JP Morgan, Copper Rock Capital and USS between September 21-22.
• IIFL Finance: To meet Habrok Capital on September 22.
• Eicher Motors: To meet DSP Investment Managers on September 21.
• JSW Steel: To meet JP Morgan on September 22 and 23.
• Info Edge: To meet JP Morgan on September 21 and Morgan Stanley on September 24.
• AstraZeneca Pharma: To meet Arisaig Partners on September 21.
• ITC: To attend JP Morgan India Investor Summit on September 21

Bulk Deals

• Essel Propack: Promoter Epsilon Bidco sold 7.26 crore shares (23%) at Rs 256.49 per share. Axis Mutual Fund acquired 1 crore shares (3.17%) at Rs 256.3 per share, Aditya Birla Sun Life MF acquired 58.52 lakh shares (1.86%) at Rs 256.3 per share. Other buyers included IDFC Mutual Fund, Nomura, Franklin Templeton, Norges Bank, DSP Mutual Fund and Neuberger Berman Funds.
• GATI: EQ India Fund acquired 8.89 lakh shares (0.73%) at Rs 49.45 per share.
• KPIT Tech: Promoter Anupama Kishor Patil acquired 14 lakh shares (0.51%) at Rs 100.01 per share.
• Valiant Organics: Promoter Dilesh Roadlines sold 4 lakh shares (3.29%) at Rs 2,749.1 per share. Nippon India Mutual Fund acquired 2.9 lakh shares (2.39%) at Rs 2,749.02 per share and Goldman Sachs acquired 1.07 lakh shares (0.88%) at Rs 2,749 per share.

Trading Tweaks

• AGM Date: Aarti Industries, Bajaj Consumer Care, Deepak Fertilisers and Chemicals, DFM Foods, GMR Infra, Oil India, Cochin Shipyard, Dixon Tech, Midhani, Ircon, Eveready, APL Apollo Tubes, Apollo Pipes, Vodafone Idea, Parag Milk Foods, DHFL.
• Fund Raising: Mold-Tek Packaging.
• Ex-Date Of Demerger: Panacea Biotech.
• Price Band Revision From 10% To 5%: Manaksia Steels, Trejhara Solutions.
• Price Band Revision From 20% To 10%: JB Chemicals & Pharmaceuticals.
• Price Band Revision From 20% To 5%: Panacea Biotec.
• Move Into ASM Framework: Pricol, JB Chemicals & Pharmaceuticals, Gyscoal Alloys, NGL Fine Chem.
• Move Out Of ASM Framework: Indo Rama Synthetics, Alkyl Amines Chemicals, Borosil Renewables, Sanco Industries.
• Move Into Short Term ASM Framework: Skipper, Vinati Organics, Oswal Chemicals & Fertilizers, McDowell Holdings, GTL.
• Move Out Of Short Term ASM Framework: Gujarat Lease Financing, Allsec Technologies.

Insider Trades

• Sequent Scientific: Promoter Chayadeep Ventures sold 2.73 lakh shares on September 15.
• Trident: Promoter Trident Capital acquired 11 lakh shares on September 17.
• Waterbase: Promoter KCT Management Services acquired 3.25 lakh shares on September 15.
• Man Infra: Promoter Parag Shah acquired 2 lakh shares on September 17.

As reported On September 18.