All the sectoral indices ended in the green with the pharma index rising 3 percent. BSE Midcap and Smallcap indices rose 1-1.6 percent.
Indian benchmark indices extended the gains in the second consecutive session on September 20 with the Nifty closing above 17,800. At Close, the Sensex was up 578.51 points or 0.98% at 59,719.74, and the Nifty was up 194 points or 1.10% at 17,816.30.
Can Fin Homes | CMP: Rs 565.40 | The share price of Can Fin Homes declined 4 percent after its managing director and chief executive officer Girish Kousgi resigned due to “personal reasons”. In a regulatory filing dated September 19, the housing finance firm said, “Girish Kousgi, managing director & CEO of the company, has conveyed to the Board about his decision to resign from the post for personal reasons. He will continue to function as the managing director & CEO and discharge duties till the date of his relieving.”
Crompton Greaves Consumer Electrical | CMP: Rs 415.20 | The company share price added more than 5 percent on approval of the sale of a six percent stake in its subsidiary Butterfly Gandhimathi Appliances Ltd via an offer for sale (OFS). The company’s executive committee of directors, gave its nod for the sale of around 10.72 lakh equity shares in Butterfly Gandhimathi, at a face value of Rs 10 each. The OFS will be executed on September 20-21 with a floor price of Rs 1,370 per share, Crompton Greaves informed the stock exchanges.
Ircon International | CMP: Rs 41.65 | The stock rose 3 percent on September 20 as the firm has been awarded the work of Stage-III i.e. Detailed Engineering and Project Management Consultancy (PMC) Services for “Development of Rail Infrastructure for proposed 02 nos. RLS (20 MTY) for Ananta OCP of Jagannath Area at Talcher” by Mahanadi Coalfields Limited (MCL) at a total value of Rs 256 crore.
Adani Enterprises | CMP: Rs 3,835.80 | The share price touched a 52-week high of Rs 3,883.70, rising 1.5 percent on September 20 after the company raised Rs 100 crore by allotment of 1,000 non-convertible debentures of the face value of Rs 10 lakh each on private placement basis. The said MLD will be listed on the Wholesale Debt Market segment of the BSE.
Shilpa Medicare | CMP: Rs 393.40 | The company share price gained nearly 5 percent after it said that its successful innovation of first in world topical hemostatic spray of Tranexamic Acid has received CDSCO approval. The product is approved for usage of reducing or preventing haemorrhage and to reduce the need for replacement therapy during accidental and domestic injury.
Advanced Enzyme Technologies | CMP: Rs 293.05 | The share price added 10 percent after Nalanda India Equity Fund acquired additional 29,11,630 equity shares (2.6% stake) in Advanced Enzyme Technologies via open market transactions at an average price of Rs 270.03 per share. However, Advanced Vital Enzymes sold 25,73,500 shares (2.3% shareholding) at an average price of Rs 270.04 per share.
Bombay Dyeing and Manufacturing Company | CMP: Rs 104.40 | The share price rose nearly 4 percent as the company’s board of directors on September 22 will consider a proposal of raising funds by issue of equity shares on a rights basis.
Welspun Corp | CMP: Rs | The share price touched a 52-week high of Rs 281.40, adding 2 percent after the company acquired an entire share capital of Nauyaan Shipyard Private Limited, a company with objects, inter alia, of shipbuilding, shippers, ship-owners, repairers, re-fitters, fabricators etc., at a fair value consideration of Rs 100,000 with an intention to make it a wholly-owned subsidiary and a special purpose vehicle for investment in the field of Marine Fabrication.
Piramal Enterprises | CMP: Rs 969.80 | The company’s stock added more than 2 percent after the company’s board approved the issuance of debentures with an issue size of up to Rs 100 crore along with an option to retain over subscription of up to Rs 650 crore, aggregating up to Rs 750 crore on private placement basis.
Coffee Day Enterprises | CMP: Rs 63.30 | The share price rose 3 percent on September 20. In connection with a loan of Rs 100 crore raised by a subsidiary company of Coffee Day Enterprises, the lender of the subsidiary company has filed a petition before the Principal Bench, National Company Law Tribunal, Bengaluru for initiating the Corporate Insolvency Resolution Process (CIRP) against the Company for Rs 122.50 crore, the company said in its release. The company has requested the subsidiary for amicable settlement vide discussions with the lender of the subsidiary company.
Rakesh Patil
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