Stocks in news: ECOS Mobility, AU Bank, GIC RE, Mankind, IEX, NHPC & Godfrey Phillips

Indian benchmark ended Tuesday's session on a flat note, mostly unchanged, amid the muted global and domestic cues. BSE Sensex shed only 4.40 points or 0.01 per cent, to end at 82,555.44. NSE's Nifty50 inched up merely 1.15 points to close at 25,279.85. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, September 04, 2024:
 

Corporate actions today: Shares of Hikal, MAS Financial Services, Parag Milk Foods, RACL Geartech, SP Capital Financing and more will trade ex-dividend today. The rights issue of Srivari Spices & Foods will open today.
 

ECOS (India) Mobility & Hospitality: Shares of the car rental service provider will make its Dalal Street debut on Wednesday. The company raised around Rs 601.20 crore via its primary stake sale, open for bidding between August 28-30, which was sold for Rs 334 apiece with a lot size of 44 equity shares. The issue was overall subscribed 64.26 times.
 

AU Small Finance Bank: The private lender 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.
 

Indian Energy Exchange: The electricity bourse recorded a total volume (including certificates) of 12,040 MU in August 2024, a 35.8 per cent YoY rise. The electricity volume rose by 17.1 per cent YoY to 9,914 MU, while renewable energy certificates (REC) surged 737.4 per cent  to 2,116 MU. The Day-Ahead Market (DAM) volume soared to 4,666 MU in August, up 22.5 per cent YoY.
 

NHPC: The PSU navratna 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.
 

Mankind Pharma: The pharma 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).
 

General Insurance Corporation of India: The Government of India will be offloading a 6.78 per cent stake (including a greenshoe option of 3.39 per cent) in the private insurer via an offer-for-sale (OFS). 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 apiece.
 

Godfrey Phillips India: The cigarette maker has signed a term sheet for the sale of its retail business 24Seven to retail startup New Shop, suggest some media reports. The deal is expected to close by the end of September. The process to transfer shops to New Shop, which operates 160 stores across 35 cities round the clock, has already begun.
 

Sudarshan Chemical Industries: The specialty chemicals maker 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, suggested some media reports. Sudarshan Chemical is likely to have submitted a bid to the insolvency administrator.
 

GlaxoSmithKline Pharmaceuticals: The pharma 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.
 

BGR Energy Systems: The civil construction 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.
 

PDS: The textile player'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.