Stocks in news: HDFC Life, Tata Power, Easy Trip, Delta Corp, MCX, Bazaar Style & Gillette

Indian benchmark indices continued their positive momentum on Tuesday thanks to the rate cut optimism. BSE Sensex gained 147.99 points or 0.17 per cent, to end the session at 85,076.60. NSE's Nifty50 added merely 1.35 points, or 0.01 per cent, to close at 25,940.40. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, September 25, 2024:

Corporate actions today: Shares of NDR Auto Components and Starlineps Enterprises will trade ex-bonus today, while shares of Swastika Investmart and Starlineps Enterprises will trade ex-split today. Shares of Bajaj Holdings & Investments, Maharashtra Scooters, Nirman Agri Genetics and Adtech Systems will trade ex-dividend today.

HDFC Life Insurance Company: The private life insurer's 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 Tata Group firm 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. It is in the process of assessing the actual damage caused by the fire. The plant is adequately insured.

Easy Trip Planners: Promoter Nishant Pitti is likely to sell up to an 8.5 per cent stake, or 15 crore equity shares, in Easy Trip via block deals, said media report. 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 per cent 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.

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.

Bazaar Style Retail: Recently listed Rekha Jhunjhunwala backed retail chain will be announcing its results for June 2024 quarter later today.

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 per cent of the company’s total net sales.

PC Jeweller: The company board of the Jewellery player 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 media player's 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.

Mukta Arts: The film product 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 per cent more compared to the previous agreement.

Hindustan Foods: The company has initiated the merger of its soups, spices, and seasoning manufacturing facility in Nashik.