Stocks To Watch on September 22: GIFT Nifty on the NSE IX traded 30.5 points, or 0.16 per cent, higher at 19,692.5, signaling that Dalal Street was headed for positive start on Friday. Here’s a slew of stocks that will be in focus today for various reasons.
Glenmark Life Sciences: Mumbai-based Glenmark Pharmaceuticals said on Thursday that its board has approved the divestment of a 75 per cent stake in its subsidiary Glenmark Life Sciences (GLS) to Nirma at Rs 615 a share, implying a valuation of Rs 7,535 crore. The deal size is estimated to be Rs 5,651 crore.
Glenmark Pharma will continue to own a 7.84 per cent stake in GLS, and pursuant to the transaction, Nirma will make a mandatory open offer to all public shareholders of GLS
Samhi Hotels, Zaggle Prepaid Ocean Services: The two companies will debut at the bourses on Friday. The issue price for Samhi Hotelsis fixed at Rs 126, while that of Zaggle has been fixed at Rs 164.
Tata Motors: Jaguar has announced that it has signed a deal with Tesla to get access to the Supercharger network.
BSE: As a measure to prevent erroneous order placement, the Exchange has notified that Stop Loss orders with Market condition (SL-M) in Equity segment, Equity Derivatives segment, Currency Derivatives segment and Commodity Derivatives segment shall be discontinued with effect from October 9, 2023.
Wipro: Wipro’s Chief Financial Officer Jatin Dalal has resigned with immediate effect. He will be replaced by Aparna C Iyer.
Oil India, Gujarat Gas: Life Insurance Corporation (LIC) has reduced stake in OIL to 9.69 per cent from 11.3 per cent. It has increased stake in Gujarat Gas to 5.01 per cent from 4.98 per cent.
ICICI Bank: The lender will buy a 9.99 per cent stake in Quantum CorpHealth Private for Rs 4.99 crore by the end of October 2023.
ICICI Lombard: Bhargav Dasgupta has resigned from the designation of MD and CEO of the company.
Muthoot Finance: Muthoot Finance will issue secured redeemable non-convertible debentures to raise up to Rs 700 crore. The issue opened on September 21 and will close on October 6.
JSW Steel: JSW Steel Ltd is slowing down the process to buy a stake in the steelmaking coal unit of Canada’s Teck Resources, Reuters reported on Thursday. It, however, said the paperwork was still going on.
The Phoenix Mills: The company has completed the acquisition of balance 5,000 equity shares, constituting 50 per cent of the share capital of Bartraya Mall Development Company Private Limited.
Vedanta: The company will raise up to Rs 2,500 crore via NCDs on a private placement basis.
InterGlobe Aviation: IndiGo has signed a codeshare partnership with UK flag carrier British Airways.
Kalyani Forge: Shareholders have approved the appointment of Viraj Gaurishankar Kalyani as the managing director (MD) of the company.
NBCC: The state-owned entity has bagged order for various development works at township and mines of SAIL Bhilai Steel Plant worth Rs 100 crore.
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