Stocks to Watch on Monday, September 25, 2023: Frontline indices are likely to start the trading week on a cautious note following last week over 2.5 per cent fall.
At 07:10 AM, the GIFT Nifty futures quoted at 19,694, indicating a flat to marginally negative start for the trading action on the Nifty50.
Meanwhile cues from the Asian markets were mixed this morning. Nikkei and Taiwan gained 0.5 per cent each, while Kospi and All Ordinaries were down 0.4 per cent.
Meanwhile, these stocks are likely to be in focus in Monday’s trading session.
Bajaj Finance: Board to meet on October 5 to consider the proposal for raising funds through the QIP (Qualified Institutional Placement) route.
Ambuja Cements: The Adani-promoted company incorporated three wholly-owned subsidiaries, namely Lotis IFSC, Ambuja Concrete North, and Ambuja Concrete West to boost business.
LIC: The insurer has received an order demanding GST along with interest and penalty to the tune of Rs 290.50 crore from the Bihar Additional Commissioner.
Shree Renuka Sugars: To acquire 100 per cent stake in UP-based Anamika Sugar Mills, for cash consideration of Rs 235.50 crore, and to infuse up to Rs 110 crore in the latter firm.
Apollo Tyres: Operations at the company’s manufacturing facility in Limda, Gujara have resumed after the temporary stoppage.
JSW Steel: The company has terminated its Joint Venture Agreement with New Zealand's National Steel Holdings for establishing scrap shredding facilities in India. JSW Steel will purchase the latter’s 50 per cent stake in NSL Green Recycling.
ICICI Lombard General Insurance: The company has appointed Sanjeev Mantri as the managing director (MD) and chief executive officer (CEO). He will take over from Bhargav Dasgupta from December 01, 2023 onwards.
SBI: The PSU bank has raised Rs 10,000 crore through long-term infrastructure bonds at a coupon rate of 7.49 per cent.
Karnataka Bank: After mobilising Rs 800 crore in equity capital from institutional investors, the bank will look at a second round of capital raising (up to Rs 700 crore) in the next six months.
Inox Green Energy: Has entered into a share subscription agreement to acquire a majority (51 per cent stake) in Resowi Energy.
Zen Technologies: Has won Rs 227.65 crore order from the Defence Ministry.
Ircon International: Has won an order worth Rs 122 crore from Sri Lankan Railways for design, installation, and commission of signalling and telecommunication system.
Swan Energy: Board approved a proposal to raise up to Rs 1,435 crore via preferential issue of equity shares.
Stocks in F&O ban on Monday: Canara Bank, Delta Corporation, Granules India, Hindustan Copper, Indiabulls Housing Finance and Manappuram Finance are the six stocks in futures & options ban period today.