Indian benchmark indices settled lower on Friday on the back of profit booking by the traders during the fag-end session. BSE Sensex dropped 264.27 points or 0.31 per cent, to end the session at 85,571.85. NSE's Nifty50 shed 37.10 points, or 0.14 per cent, to close at 26,178.95. Here are the stocks that may remain under spotlight before the opening bell on Monday, September 30, 2024:
Manba Finance: Shares of the shadow lender will make its debut at Dalal Street on Monday after the company raised a total of Rs 150.84 crore via IPO by selling shares at Rs 120 apiece between September 23-25. The issue was overall booked little more than 224 times during the bidding.
Dr Reddy’s Laboratories: The pharmaceutical major has invested $620 million in preference shares of its subsidiary Dr Reddy’s Laboratories SA, Switzerland. The subsidiary has allotted 6.2 million non-convertible preference shares, each with a nominal value of $100, to the company.
Adani Enterprises: A joint venture company of Adani Airport Holdings, April Moon Retail, has executed a share purchase agreement with Cococart Ventures (CVPL) and its existing shareholders, Karan Ahuja and Arjun Ahuja, for the acquisition of a 74 per cent stake in CVPL for Rs 200 crore. Adani Airport Holdings is a subsidiary of Adani Enterprises.
Tata Motors: The Tata Group's automaker held the groundbreaking ceremony for its new vehicle manufacturing facility in Tamil Nadu. It plans to invest Rs 9,000 crore in this greenfield manufacturing facility, which is designed for an annual production capacity of over 2.5 lakh vehicles. Production will begin in phases and progressively ramp up to full capacity in the next 5-7 years.
Apollo Hospitals Enterprise: Its subsidiary - Apollo Healthco's board has approved the allotment of Rs 2,475 crore worth of compulsorily convertible non-cumulative participating preference shares (CCPS - Class A and B) with a face value of Rs 100 per share to Advent-arm Rasmeli for a 16.9 per cent stake.
Bharat Electronics: The Ministry of Corporate Affairs (MCA) has approved the incorporation of BEL IAI AeroSystems, a joint venture between Bharat Electronics and Israel Aerospace Industries, Israel.
ICICI Prudential Life Insurance Company: The private life insurance player has received an order from the Assistant Commissioner of Income Tax, Mumbai, demanding tax and interest of Rs 361.23 crore for the Assessment Year 2022-23. The company plans to file an appeal against the order before the Commissioner (Appeals).
IndusInd Bank: The board has approved the re-appointment of Sumant Kathpalia as Managing Director & CEO for a term of three years, effective March 24, 2025. This re-appointment is subject to approval by the Reserve Bank of India and the bank's shareholders.
Zomato: The co-founder and Chief People Officer of the food aggregator- Akriti Chopra- has resigned with immediate effect after a 13-year-long tenure at the food delivery company.
LTIMindtree: The IT solutions company has strengthened its partnership with Currys, the UK retailer of technology products and services. LTIMindtree will re-platform Currys' website to Salesforce Commerce Cloud, launch an in-store client app on Experience Cloud, and implement Service Cloud for post-sales support.
Lupin: The USFDA concluded an inspection of Lupin's Pithampur Unit-1 API and finished product manufacturing facility with three observations each for both the API and finished product operations. The facility was inspected from September 16 to September 27.
IDFC First Bank: The private lender's board has approved the amalgamation of IDFC Financial Holding Company with IDFC, effective September 30, and the merger of IDFC with IDFC First Bank, effective October 1. Furthermore, the board has appointed V Vaidyanathan as MD & CEO of the bank for three years, effective from December 19, 2024.
BSE: The exchange has revised its transaction charges for Sensex and Bankex Options (for all expiries) to Rs 3,250 per crore of premium turnover value, effective October 1. However, there will be no changes in the transaction charges for other contracts in the equity derivatives segment.
Adani Energy Solutions: Adani Electricity Mumbai has signed a business transfer agreement with its subsidiary, North Maharashtra Power, to carve out the Adani Dahanu Thermal Power Station. Adani Electricity Mumbai is a subsidiary of Adani Energy Solutions.
Punjab National Bank: The PSU lender has raised Rs 5,000 crore via qualified institutions placement (QIP). It has approved the allotment of 48.19 crore shares to eligible qualified institutional buyers at a price of Rs 103.75 per share, including Citigroup Global Markets Mauritius, BOFA Securities Europe SA, SBI Contra Fund, Morgan Stanley Asia (Singapore) and Goldman Sachs.
Biocon: The USFDA has issued four observations regarding the company’s API facility (Site 2) in Bengaluru. The facility was inspected between September 23 and September 27. The company does not anticipate any significant impact on its business.
Northern Arc Capital: Recently listed NBFC will announce its results for the quarter ended on June 30, 2024 later today.
Welspun Enterprises: The civil construction player has been declared the L1 bidder by the Brihanmumbai Municipal Corporation (BMC) for a project worth Rs 1,989.9 crore. It involves the design and construction of an 8.48 km tertiary treated water conveyance tunnel from the Dharavi WWTF to the Ghatkopar WWTF, executed within a period of 93 months.
Piramal Pharma: The USFDA has issued an establishment inspection report for the company’s manufacturing facility in Ahmedabad. On July 12, the FDA issued zero Form-483 observations, with a 'no action indicated' (NAI) designation after the inspection.
Jubilant Pharmova: The USFDA has classified the inspection of Jubilant HollisterStier General Partnership's contract manufacturing facility in Canada as 'official action indicated' (OAI). This audit was originally reported on June 18. It is indirectly owned by Jubilant Pharmova.
Reliance Infrastructure: The Calcutta High Court has ruled in favour of the infra player, upholding the arbitration award of Rs 780 crore against West Bengal-based Damodar Valley Corporation related to the Raghunathpur Thermal Power Project. The court dismissed the appeal by Damodar Valley Corporation, and a bank guarantee of Rs 600 crore will also be released.
Mangalore Chemicals and Fertilizers: The company has resumed production at its ammonia and urea plants. Both plants were shut down for the replacement of reformer catalysts on September 6.
Asian Energy Services: The oil equipment firm has received a contract worth Rs 82 crore from Oil India for 2D seismic data acquisition of 4,300 LKM in the Rajasthan Basin under Mission Anveshan. The order will be executed within 18 months, and the company’s total order book now stands at Rs 1,000 crore.