Produced by: Prashun
Designed by: Mohsin Shaikh
Trading remained flat as headwinds from the global markets and continued selling by foreign institutional investors (FIIs) kept domestic investors under vigil, said Vinod Nair, Head of Research at Geojit Financial Services. Nair mentioned that bargain hunting was visible in small-cap stocks due to the recent correction
On the stock-specific front, Muthoot Finance, Suzlon Energy, Vedanta, Talbros Automotive Components, West Leisure Resorts and some others will be in focus on Wednesday (September 27)
Shares of Muthoot Finance Ltd settled 1.89% lower at Rs 1,236.80 on Tuesday. Muthoot Money Ltd has completed the allotment of 2,64,655 equity shares, worth Rs 399.99 crore, to Muthoot Finance Ltd. Muthoot Money is a wholly-owned subsidiary of Muthoot Finance. Additional equity infusion is proposed to be made in order to strengthen the capital base and improve the capital adequacy ratio, Muthoot said
"Dilip Shanghvi and associates (reffered as Investor Group), who had entered into an amended and restated shareholders' agreement dated February 18, 2020 with the promoters/promoter group and the company, have informed that the Investor Group has decided to terminate the said agreement. There would not be any impact on the operations on account of termination of the agreement. Simultaneously, with the termination of the agreement, Hiten Timbadia, the Investor Group's nominee director on the company's Board, has also resigned as director with effect from September 26,2023," Suzlon stated. Shares of Suzlon Energy settled with 1.88% gains at Rs 25.98 during the previous session. Bourses BSE and NSE have put the securities of Suzlon under the long-term ASM (Additional Surveillance Measure) framework.
Shares of Talbros Automotive Components slipped 0.90% to close at Rs 965.35. The company has reappointment Umesh Talwar, Anuj Talwar and Priyanka Gulati as Vice-Chairman & Managing Director, Joint Managing Director and Non-Executive Independent Director, respectively
Shares of West Leisure Resorts will be trading ex-dividend on September 27. The company announced a dividend of 10 paise for the financial year 2022-23. The counter ended 5% higher at Rs 198.50 on BSE
Shares of Vedanta will also be in focus today. Ratings agency Moody's Investors Service has downgraded Vedanta Resources' corporate family rating (CFR) from Caa1 to Caa2 due to elevated risk of debt restructuring over the next few months. Vedanta's stock moved 0.27% down to close at Rs 224.05 on BSE
Dhoot Industrial Finance has reappointment of Rajgopal Ramdayal Dhoot as Director of the company. The stock settled 1.01% lower at Rs 101.49 on BSE
"Nifty has formed a inside body candle indicating continuation of a rangebound trend in the near future. For day traders, 19,735 would be the immediate resistance level while 19,620 could act as a key support zone. Above 18,735, the index could move up till 19,780-19,800. On the other hand, a dip below 19,620 may lead to a further decline till 19,550-19,520 levels," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position