Indian benchmark indices joined the global rally on Friday, triggered by the US Fed's rate cuts and positive global cues. BSE Sensex soared 1,359.51 points or 1.63 per cent, to end at 84,544.31. NSE's Nifty50 zoomed 375.15 points, or 1.48 per cent, to close at 25,790.95. Here are the stocks that may remain under spotlight before the opening bell on Monday, September 23, 2024:
Reliance Industries: The Mukesh Ambani-led company has extended the last date for the payment of unpaid call money. Forfeiture of the partly paid-up equity shares will be affected if the payment of unpaid call money, along with interest, is not made on or before October 7.
HDFC Bank: HDB Financial Services has received board approval for an initial public offering (IPO) of equity shares, comprising a fresh issue worth Rs 2,500 crore and an offer for sale of equity shares by existing and eligible shareholders.
Tata Steel: The Tata Group's metal player company has commissioned India’s largest blast furnace at Kalinganagar, Odisha. With an investment of Rs 27,000 crore, the Phase II expansion will increase the total crude steel capacity from 3 million tonnes per annum (MTPA) to 8 MTPA.
Oil and Natural Gas Corporation: The PSU's subsidiary ONGC Videsh has signed a non-associated gas deal in the Azeri-Chirag-Deepwater Gunashili (ACG) field in Azerbaijan. The non-associated natural gas (NAG) resources of ACG are estimated to be significant, with up to 4 trillion cubic feet (tcf) in place.
Adani Ports and Special Economic Zone: The Adani Group firm has signed a memorandum of understanding (MoU) with Rorix Holdings, an Abu Dhabi-based trade facilitation and finance company to leverage the strengths of both organizations to integrate advanced technologies into their logistics and trading platforms and create synergies to transform the commodities market.
Vodafone Idea: The telecom operator has concluded a $3.6 billion (Rs 30,000 crore) deal with Nokia, Ericsson, and Samsung for the supply of network equipment over a three-year period. The capital expenditure program aims to expand 4G population coverage from 1.03 billion to 1.2 billion, launch 5G in key markets, and expand capacity in line with data growth.
Glenmark Pharmaceuticals: The USFDA has completed a Good Manufacturing Practice (GMP) inspection at the company’s formulation manufacturing facility in Chhatrapati Sambhaji Nagar (Aurangabad). The inspection, which was conducted from September 9-20, concluded with no observations.
Bharat Heavy Electricals: The state run player has received a notification of award (NOA) worth Rs 6,100 crore from NTPC for an 800 MW Sipat Supercritical Thermal Power Project Stage-III.
Dr Reddy’s Laboratories: The USFDA completed a routine Good Manufacturing Practice (GMP) inspection at the company’s R&D centre (Integrated Product Development Organisation or IPDO) in Bachupally, Hyderabad. The inspection, conducted from September 16-20, concluded with zero observations.
HFCL: The telecom infra player has entered into a strategic partnership with General Atomics Aeronautical Systems, Inc. (GA-ASI) to develop and supply critical sub-systems for GA-ASI's advanced unmanned aircraft systems (UAS).
Bharat Forge: The company's two subsidiaries-J S Auto Cast Foundry India and Kalyani Centre for Precision Technology- have entered into share subscription and shareholders agreements (SSSHA) with special purpose vehicles (SPVs) of Sunsure Energy for off-taking renewable energy under the group captive scheme as per the Electricity Act, 2003.
Mankind Pharma: The board has approved raising funds of up to Rs 10,000 crore via non-convertible debentures (NCDs) and commercial papers on a private placement basis.
Adani Total Gas: The Adani Group firm has entered into a financing framework that enables future funding based on its business plan. The maiden financing of $375 million, executed with international lenders, includes an initial commitment of $315 million. Five lenders participated in the initial financing- BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
Dreamfolks Services: The airport lounge service provider is addressing a temporary disruption in its services. Its dedicated team is working diligently with partners to identify the root cause and implement solutions as quickly as possible. All contractual agreements remain in full force. The top priority is to minimize any inconvenience to passengers and restore normal operations.
Godfrey Phillips India: The cigarette maker's board of directors considered the matter of issuing bonus shares. The company needs to seek clarification from the Reserve Bank of India (RBI) regarding the issue of bonus shares to non-resident shareholders, including those covered under Foreign Direct Investment and Foreign Portfolio Investment.
Ugro Capital: The shadow lender has postponed its board meeting to September 24, from September 23, to consider the raising of funds due to unavoidable reasons.
Aster DM Healthcare: The hospital chain's wholly owned subsidiary Sri Sainatha Multispecialty Hospitals, has entered into a lease agreement with Aparna Constructions and Estates for the establishment of a new Aster Woman and Children Hospital in Hyderabad.
Aarti Drugs: The USFDA has inspected the company's API manufacturing facility in Tarapur, Maharashtra, from September 12-20. After the inspection, the company received seven inspectional observations in Form 483, none of which are related to data integrity.
Ramco Cements: The cement company has increased its cement grinding capacity by 0.9 MTPA, from 23.14 MTPA to 24.04 MTPA, with an investment of Rs 58 crore.
Avalon Technologies: RM Subramanian has resigned as Chief Financial Officer of the company to pursue career opportunities outside the organization.