Stocks In the News: Check out the companies making the biggest headlines before the opening bell
Zee Entertainment: Invesco, the largest shareholder in the firm is insisting on the extraordinary general meeting (EGM) requisition which sought a newly reconstituted board and the removal of MD & CEO Punit Goenka. The demands of Invesco in the EGM are in contrast to the terms of the Zee-Sony non-binding merger announcement which leaves Goenka in charge as MD & CEO.
PVR, Inox Leisure in focus: Theatres, auditoriums will be reopened in Maharashtra from October 22, 2021.
Indiabulls Real Estate: Promoter entity Jyestha Infrastructure sold 1.09 crore equity shares in the company via open market transactions, reducing shareholding to 7.046% from 9.443% earlier.
Shriram City Union Finance: Acacia II Partners LP & Others sold 3 lakh shares in the company via open market transaction on September 17, reducing shareholding to 3.01% from 3.46% earlier.
PVR: ICICI Prudential Asset Management Company sold 95,511 equity shares in the company via open market transaction on September 23, lowering shareholding to 5.25% from 5.41% earlier.
Biocon: The US Food and Drug Administration has issued a Form 483 with a total of 6 observations across drug substance, drug product and devices facilities after completion of on-site pre-approval inspection at Biocon Biologics’ Insulin manufacturing facility in Malaysia.
Apollo Tyres: Promoter Onkar Kanwar sold more than 5.3 lakh shares in the company via open market transcation on September 24, reducing shareholding to 37.35% from 37.44% earlier.
NBCC: The company has secured the work order of ‘construction of 2000 social housing’ at Hulhumale, Maldives on EPC basis. The total cost of the project is Rs 968.50 crore.
Hindustan Copper: The government to sell up to 31,98,646 equity shares through offer for sale, to the eligible employees of the company at a price of Rs 116 per equity share. The Employee OFS will remain open from September 27 to September 29.
Dalmia Cement (Bharat): The company commenced commercial production of Line 2 at its Kapilas cement manufacturing works, Cuttack.
Sansera Engineering: Nomura Funds Ireland Public Limited Company – Nomura Funds Ireland – India Equity acquired 6 lakh shares in the company at Rs 820.1 per share, Plutus Wealth Management LLP bought 5 lakh shares at Rs 811.5 per share, IIFL Mutual Fund bought 4,70,809 equity shares at Rs 820.09 per share, IIFL Asset Management purchased 3.97 lakh shares at Rs 818.01 per share, and Abu Dhabi Investment Authority – Stable acquired 4,87,500 equity shares at Rs 821.48 per share on the NSE, the bulk deals data showed.
Indiabulls Housing Finance: BlackRock Inc sold 6,43,970 equity shares in the company via open market transaction, reducing shareholding to 3.56% from 3.7% earlier. Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holdings for approximately Rs 251 crore.
Brigade Enterprises: ICICI Prudential Asset Management Company sold over 2 lakh shares in the company via open market transaction September 23, reducing shareholding to 2.98% from 3.07% earlier.
Alankit: The company has entered into a project from Punjab National Bank related to request for proposal for engagement of corporate business correspondents for financial inclusion by providing banking services through Kiosks. The company will be entitled to receive substantial amount from Punjab National Bank.
Nahar Spinning Mills: CRISIL has upgraded rating outlook on the company’s long term bank facilities to A/Stable from A-/Stable and on the short-term bank facility to A1 from A2+.
Welspun Corp: The company redeemed their commercial papers by paying Rs 50 crore.
SJVN: The company has bagged the full quoted capacity of 1000 MW at a Viability Gap Funding (VGF) support of Rs 44.72 lakh per MW from Government of India, through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency Limited (IREDA). The tentative cost of construction and development of this project is Rs 5,500 crore.
Ashiana Housing: ICICI Prudential Asset Management Company sold more than 2.88 lakh shares in the company via open market transaction on September 22, reducing shareholding to 5.21% from 5.49% earlier.
Orient Cement: The company has entered into a non-binding Memorandum of Understanding with Adani Power Maharashtra for establishing a cement grinding unit in Maharashtra.
Xelpmoc Design and Tech: The company sold entire stake held by it in its associate company Madworks Ventures (MVPL).
Nucleus Software: The board approved buyback of up to 22,67,400 equity shares (7.81% of paid up equity) at Rs 700 per share, for amount up to Rs 158.71 crore.
Sandip Das