Stocks to Watch: Check out the companies making headlines before the opening bell.
Tata Steel: The steel maker said its board of directors has approved fund raising through the issue of non-convertible debentures up to Rs 2,000 crore in two series. In one series, they will raise Rs 500 crore and in the second, Rs 1,500 crore.
Tamilnad Mercantile Bank: The bank will debut on the bourses on September 15. The final issue price has been fixed at Rs 525 per share.
GR Infraprojects: Promoters Laxmi Devi Agarwal, Suman Agarwal, Ritu Agarwal, Lalita Agarwal, Sangeeta Agarwal, Kiran Agarwal and Manish Gupta will be selling up to 57,04,652 equity shares or 5.9 percent stake in the company via offer-for-sale on September 15-16. In addition, they are also intended to sell additional 8,70,202 shares in an oversubscription option. The floor price has been fixed at Rs 1,260 per share.
HFCL: The company has received the advance purchase orders worth Rs 447.81 crore, consisting of Rs 341.26 crore from Bharat Sanchar Nigam (BSNL), and Rs 106.55 crore from RailTel Corporation of India.
Glaxosmithkline Pharmaceuticals: Life Insurance Corporation of India has offloaded 34.63 lakh equity shares or 2.04 percent stake in the company via open market transactions. With this, LIC’s shareholding in the company reduced to 4.35 percent, down from 6.4 percent earlier.
Sundram Fasteners: ICICI Prudential Mutual Fund acquired 13,77,726 equity shares or 0.6 percent stake in the company through open market transactions. These shares were bought at an average price of Rs 845 per share. However, promoter TVS Sundram Fasteners sold 24.7 lakh shares at an average price of Rs 845.09 per share.
KPI Green Energy: The company has received new order of 4.20 MW (comprising of 4.20 MW wind turbine and 3 MWdc solar) under wind-solar hybrid power project. The order is from Nouveau Jewellery LLP, Surat under ‘captive power producer (CPP)’ business segment.
Balaji Amines: The company said the Phase 1 of 90-acre greenfield project (Unit IV) has been completed. The di-methyl carbonate, propylene carbonate, and propylene glycol plant will be ready to commence commercial production by the end of September 2022. In addition, it has also started construction in phase 2 of greenfield project (Unit IV) for 2 plants. The company already has environmental clearance for this expansion.
Moneycontrol News
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