Produced by: Prashun
Designed by: Mohsin Shaikh
Investors were seen actively repositioning, shifting away from stocks tied to the global economy and focusing on the domestic economy, said Vinod Nair, Head of Research at Geojit Financial Services. Nair mentioned that concerns loomed over a potential global economic slowdown due to the prolonged period of high interest rates
On the stock-specific front, Strides Pharma Science, HDFC Asset Management Company, CSB Bank, UTI Asset Management Company, Shradha Industries, CEAT, Tata Steel and some others will be in focus on Tuesday (September 26)
Shares of Strides Pharma Science settled 7.42% higher at Rs 535.65 on Monday. The company said it has approved the demerger of its contract development and manufacturing organisation and soft gelatin business to Stelis Biopharma
Shares of HDFC Asset Management Company settled with 0.48% gains at Rs 2,670.75. "In continuation to our previous communication dated July 24, 2023, with respect to approval of the Board of Directors for additional investment of Rs 25 crore in equity share capital of wholly-owned subsidiary (WOS) HDFC AMC International (IFSC) Ltd. In this connection, we would like to inform that the company has invested an amount of Rs 25 crore in its WOS and continues to hold 100% of the total paid up share capital of WOS," the company stated
Shares of CSB Bank edged 0.11% down to close at Rs 329.15. "Based on the recommendation, the Board of Directors of CSB Bank have appointed Ragesh M, who is currently holding the position of Head – Market Risk, as the Chief Risk Officer (interim) with effect from October 1, 2023, in place of Arvind K Sharma, whose extended term as the Chief Risk Officer shall end at the close of office hours on September 30, 2023," the lender said. In addition, the board has re-appointed Bhandari & Associates as the Secretarial Auditors of the Bank for the financial year 2023-24 (FY24)
Shares of UTI Asset Management Company rose 0.45% to settle at Rs 788.50. UTI Mutual Fund said it has launched UTI Innovation Fund, an open-ended equity scheme. "The fund would follow a bottom-up approach for investing in innovation-oriented businesses and disruptors with the potential of non-linear growth outcomes. The NFO starts on September 25, 2023 and closes on October 9, 2023," it mentioned
Shares of CEAT settled 0.52% higher at Rs 2,145.75. The tyremaker said it has invested nearly Rs 7.50 crore in the equity shares of Tyresnmore Online Pvt Ltd (Tyresnmore), a wholly-owned subsidiary of CEAT by way of subscription to right issue. Being a wholly-owned subsidiary, there is no change in the shareholding percentage of the Company in Tyresnmore, pursuant to this investment, it added
Shares of Shradha Industries will be trading ex-split on September 26. The stock will split from Rs 10 to Rs 5. The counter ended 2.42% higher at Rs 66.77 on BSE
Shares of recently-listed Vishnu Prakash R Punglia rose 2.84% to close at Rs 176.44 on Monday. The company reported a 52.50% year-on-year (YoY) jump, at Rs 16.44 crore, in its June quarter earnings as against Rs 10.78 in the same period last year
Tata Steel shares rose 0.51% to settle at Rs 127.35 on September 25. The company said international credit rating agency Moody's has it from 'Ba1' Positive to 'Baa3' Stable
"Nifty remained turbulent but it eventually stabilised and ended flat forming doji candle on daily chart. 19,600-19,550 is the strong support for the index. Further correction can be expected only if Nifty closes below 19,550 level," said Deven Mehata, Equity Research Analyst at Choice Broking
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