Stock to Watch Today - Rupeedesk Reports - 04.09.2024
Stock to Watch Today - Rupeedesk Reports
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks : AU SFB, GIC, GSK Pharma, Godfrey Phillips, Exicom, Ecos India Mobility in focus on Wednesday.
AU Small Finance Bank : The bank has submitted an application to the Reserve Bank of India (RBI) seeking approval for a voluntary transition from a small finance bank to a universal bank.
General Insurance Corporation of India : The Government of India will be selling a 6.78% stake (including a greenshoe option of 3.39%) in GIC Re via an offer-for-sale (OFS) on September 4-5. The OFS will open for non-retail investors on September 4, while retail investors and employees can participate on September 5. The floor price has been set at Rs 395 per share.
Godfrey Phillips India : The company has signed a term sheet for the sale of its retail business 24Seven to retail startup New Shop, reports CNBC-TV18 quoting sources The deal is expected to close by the end of September. Under the term sheet, the process to transfer shops to New Shop, which operates 160 stores across 35 cities round the clock, has already begun.
Sudarshan Chemical Industries : Sudarshan Chemical is in the race to acquire its German competitor, Heubach GmbH, which filed for insolvency in Germany on April 23, 2024, due to a high debt burden, reports CNBC-TV18 quoting sources. Sudarshan Chemical is likely to have submitted a bid to the insolvency administrator.
Mankind Pharma : The company has executed a Business Transfer Agreement to transfer its over-the-counter (OTC) business undertaking on a slump sale basis to its subsidiary, Mankind Consumer Products (MCPPL).
Cipla : M K Hamied has resigned from his position as Vice Chairman and Non-Executive Director of the pharma company, effective October 29, due to age and health reasons. The Board has appointed Adil Zainulbhai and Abhijit Joshi as additional non-executive directors of the company, effective September 3.
Indian Energy Exchange : The electricity exchange recorded a total volume (including certificates) of 12,040 MU in August 2024, a 35.8% increase from the year-ago period. The electricity volume rose by 17.1% YoY to 9,914 MU, while renewable energy certificates (REC) surged 737.4% to 2,116 MU. The Day-Ahead Market (DAM) volume soared to 4,666 MU in August, up 22.5% YoY, while the Real-Time Electricity Market (RTM) reported its highest-ever monthly volume of 3,485 MU, a 27.3% increase YoY.
NHPC : The company has signed a Memorandum of Understanding (MoU) with the Department of Water Resources (WRD), Maharashtra Government, for the establishment of energy storage systems (pumped storage systems) along with other renewable energy sources (such as solar/wind/hybrid) with a total capacity of 7,350 MW.
BGR Energy Systems : The company has received two orders from the GST Department in Tiruvallur, demanding a tax of Rs 480.25 crore (including interest and penalty) for FY20. It is in the process of filing an appeal before the said authority.
GlaxoSmithKline Pharmaceuticals : The company has received an order from the Income Tax Department for an income tax refund of Rs 222.23 crore for the Assessment Year 2022-23.
PDS : The company's facilities in Bangladesh have resumed normal operations, and normalcy has returned across its partner factories in the region. The company remains positive about medium-term business prospects in Bangladesh.
Exicom Tele Systems : RARE Enterprise sold a 1.31% stake in Exicom at an average price of Rs 348.6 per share, totaling Rs 55.25 crore.
Jindal Stainless : Lotus Global Investments sold a 0.62% stake in the stainless steel company at an average price of Rs 730.05 per share, valued at Rs 374.8 crore.
Medi Assist Healthcare Services : Goldman Sachs Funds (Goldman Sachs India Equity Portfolio), HDFC Mutual Fund, ICICI Prudential Mutual Fund, Smallcap World Fund Inc, and Aditya Birla Sun Life Mutual Fund purchased a 12.02% stake in Medi Assist at an average price of Rs 611.7 per share. Meanwhile, foreign company Novo Holdings A/S sold a 0.71% stake in the company at the same price. Promoter Bessemer India Capital Holdings II offloaded 13.5% of its shares at the same price, valued at Rs 580.5 crore.
AU Small Finance Bank : Westbridge AIF I sold a 1.46% stake in the small finance bank at an average price of Rs 676.06 per share, amounting to Rs 736.6 crore.
F&O Ban : Aditya Birla Fashion and Retail, Balrampur Chini Mills, Hindustan Copper.
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