The Indian stock market after a volatile session ended in the red with Sensex falling 412.96 points or 0.68 percent at 59,934. Nifty, too, shed 126.40 points or 0.70 percent, to settle at 17,877.40.
Maruti Suzuki | CMP: Rs 9,216 | The stock added over 2 percent after global investment firm Bank of America Securities revised the target on the stock price to Rs 10,500 apiece from Rs 9,500 earlier. Analysts at the global brokerage believe that Maruti Suzuki is set to make a solid comeback on the back of promising new launches.
PVR | CMP: Rs 1,840.05 | The stock declined over 4 percent after a huge block deal in which around 4.7 million shares changed hands, Bloomberg reported. On Wednesday, CNBC TV18 reported four investors in movie theatre chain PVR Ltd will offload a 7.7 stake in the company through a single block deal. The four included Multiples PE, Grey Birch, Plenty PE and Berry Invt.
Sundram Fasteners | CMP: Rs 909.55 | The scrip jumped over 4 percent after 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.
CEAT | CMP: Rs 1,661.60 | The stock hit a 20 percent upper circuit on September 15. The company hosted its annual investor meet recently to highlight its strategic roadmap. The company aims to double exports revenue to Rs 3,500 crore by FY26 from Rs 1,800 crore in FY22. Management emphasised its focus to increase market share across key segments and improve margin & return ratios.
Astral | CMP: Rs 2,503 | The scrip rose over 3 percent after the Board of the firm at its meeting approved the purchase of additional 15% equity shares of Seal IT Services, UK (Subsidiary of the Company) from existing shareholder at a consideration of approximately Rs 48 crore. The Company has also executed a Share Purchase Agreement for the said purchase of additional shares. With this acquisition, the total equity stake of the Company in Seal IT Services, UK has increased from 80 percent to 95 percent.
Redington India | CMP: Rs 156 | The stock added over 2 percent after the company announced that it has entered into a strategic partnership with Google Cloud India. As a part of this collaboration, it will drive the distribution and adoption of Google Workspace and Google Cloud with SMBs, education and public sector, mid-market, and enterprise segments.
MTAR Technologies | CMP: Rs 1,679 | The share price jumped over 4 percent after the company secured orders worth Rs 540 crore in the Clean Energy segment including civil nuclear power.
GR Infraprojects | CMP: Rs 1,367.80 | The stock ended in the red on September 15. As per a regulatory filing submitted by the company, the promoters of GR Infraprojects Ltd will offload up to 6.8 percent stake or around 65 lakh shares through an offer for sale (OFS) on September 15-16.
Balaji Amines | CMP: Rs 3,735 | The scrip ended in the green on September 15. The company said the Phase 1 of the 90-acre greenfield project (Unit IV) has been completed. The dimethyl 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 the greenfield project (Unit IV) for 2 plants. The company has already received environmental clearance for this expansion.
KPI Green Energy | CMP: Rs 900 | The share price gained close to 3 percent after the company received a new order of 4.20 MW (comprising of 4.20 MW wind turbine and 3 MWdc solar) under a wind-solar hybrid power project. The order is from Nouveau Jewellery LLP, Surat under the ‘captive power producer (CPP)’ business segment.
