Stock to Watch Today - Rupeedesk Reports - 25.09.2024
Stock to Watch Today - Rupeedesk Reports
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks : Easy Trip, Baazar Style Retail, MCX, Delta Corp, Apollo Sindoori Hotels in focus on Wednesday.
Easy Trip Planners : Promoter Nishant Pitti is likely to sell up to an 8.5% stake, or 15 crore equity shares, in Easy Trip via block deals, according to sources. The floor price per share is expected to be Rs 38, with a total transaction value of nearly Rs 580 crore. Nishant Pitti held a 28.13% stake in Easy Trip at the end of June 2024.
KEC International : The RPG Group company launched its Qualified Institutions Placement (QIP) issue on September 24. The floor price has been fixed at Rs 976.64 per share.
Multi Commodity Exchange of India : The commodity exchange has revised transaction fees for Futures and Options contracts effective October 1, with fees of Rs 2.1 per lakh of turnover value for Futures contracts, and Rs 41.8 per lakh of premium turnover value for Options contracts.
PC Jeweller ; The board will meet on September 30 to consider an alteration in the share capital of the company by sub-dividing or splitting the existing equity shares having a face value of Rs 10 each. In the same meeting, the board will also consider the appointment of new directors, if any.
Zee Media Corporation : The board will meet on September 27 to consider raising funds through the issuance of permissible instruments or securities, in one or more tranches, via private placement, qualified institutional placement, preferential issue, or any other method.
Delta Corp : The board has approved the demerger of the company’s hospitality and real estate business via a Composite Scheme of Arrangement. Delta Penland, a subsidiary of Delta Corp, is a newly incorporated company that will carry on the hospitality and real estate business. As per the share entitlement ratio, Delta Penland will allot one new equity share for every one equity share held by eligible shareholders in Delta Corp.
Gillette India : Distributor Procter & Gamble Bangladesh has terminated the Distribution Agreement with Gillette India, effective December 31, 2024. Due to this termination, the company will see a proportionate drop in net sales under this agreement. For FY24, net sales under the said Distributor Agreement accounted for 2% of the company’s total net sales. There is no material impact on the company’s profits due to this termination.
HDFC Life Insurance Company : The board will meet on September 27 to approve the commercial terms for the proposed issuance of non-convertible debentures (NCDs). In July, the board had approved raising funds through the issuance of NCDs up to Rs 2,000 crore in one or more tranches, on a private placement basis.
Tata Power Company : The company reported a fire incident in the control room of Unit No. 5 (a 500 MW unit) of the Trombay Plant on September 23. The cause of the fire is currently under investigation, and no injuries or loss of life have been reported. The company is in the process of assessing the actual damage caused by the fire. The plant is adequately insured.
Mukta Arts : The company has executed an Assignment Agreement and Term Sheet with Zee Entertainment Enterprises for the assignment of satellite and media rights of its 37 films for six years, commencing from August 25, 2027, for 25% more compared to the previous agreement.
Hindustan Foods : The company has initiated the merger of its soups, spices, and seasoning manufacturing facility in Nashik.
Rushil Decor : The company has elevated Rushil K Thakkar as its Managing Director, effective September 24.
Apollo Sindoori Hotels : Ace investor Porinju Veliyath’s Equity Intelligence India has bought a 1.04% stake in the company at an average price of Rs 1,916.17 per share.
Cartrade Tech : Mirae Asset Mutual Fund bought a 6.4% stake in Cartrade at an average price of Rs 920 per share, valued at Rs 278.02 crore. However, foreign investor Highdell Investment exited the company by selling its entire 8.64% stake at an average price of Rs 920.3 per share, amounting to Rs 375.16 crore.
Balu Forge Industries : Ebene Global Opportunity Fund sold a 0.48% stake in the company at an average price of Rs 803.36 per share.
F&O Ban : Hindustan Copper, Indian Energy Exchange, Aditya Birla Fashion & Retail, Granules India, Vodafone Idea.
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