Benchmark indices broke a two-day winning streak and ended lower with the Nifty around 17,700 in the highly volatile session ahead of the US Federal Reserve interest rate decision later tonight. At close, the Sensex was down 262.96 points or 0.44 percent at 59,456.78, and the Nifty was down 98 points or 0.55 percent at 17,718.30.
Central Bank of India | CMP: Rs 21.65 | The stock price jumped over 6 percent after the Reserve Bank of India (RBI) removed the lender from the prompt corrective action (PCA) framework after more than five years. Central Bank of India was the only bank under the RBI’s PCA framework. It was put under monitoring in June 2017 due to its high net non-performing assets (NPAs) and low return on assets. PCA is triggered when banks breach certain regulatory requirements such as return on asset, minimum capital and quantum of the non-performing assets including on lending, management compensation and directors’ fees.
SpiceJet | CMP: Rs 41.95 | The scrip was down over 3 percent after the company asked 80 of its pilots to go on a three-month leave without pay. “This measure, which is in line with SpiceJet’s policy of not retrenching any employee which the airline steadfastly followed even during the peak of the Covid pandemic, will help rationalise the pilot strength vis-à-vis the aircraft fleet,” the airline said in a statement.
KEC International | CMP: Rs 438.40 | The share jumped over 3 percent after the firm secured orders for building substations in India including 400 kV Digital GIS Substation order from Power Grid Corporation of India Limited and 400 kV GIS Substation order from a reputed industrial developer. The Railways business has secured an order for the construction of bridges and associated works for a new railway line in the conventional segment in India.
Greenply Industries | CMP: Rs 195 | The stock ended in the green on September 21. Tata Housing Opportunities Fund and other funds acquired additional 60,000 equity shares (0.05 percent stake) in Greenply Industries via open market transactions on September 19. With this, their total shareholding in the company increased to 5.05 percent, up from 4.99 percent earlier.
Rategain Travel Technologies | CMP: Rs 284 | The scrip was up over 2 percent after the company signed a deal with Sonder Holdings – a hospitality company – to provide its services. RateGain said Sonder has connected with RateGain’s Connectivity Switch Platform introducing its own dedicated chain code, SS. This makes it faster and easier for agents to search for Sonder availability on travel reservation systems. Sonder offers both hotel and apartment-style properties in over 40 cities worldwide, including top business destinations like New York City, London, Dubai, Paris, Toronto, and Philadelphia.
Jai Corp | CMP: Rs 182.55 | The scrip fell over 5 percent after Pramod Kumar Jaiswal tendered his resignation as Chief Financial Officer of Jai Corp due to personal reasons. Jaiswal will continue to hold his current position as CFO until October 31, 2022.
JMC Projects | CMP: Rs 99.90 | The share price ended in the green after the company board approved the raising of funds up to Rs 200 crore by way of issue of Non-Convertible Debentures of the company on a private placement basis, in one or more tranches.
Jindal Stainless | CMP: Rs 138.30 | The stock ended in the green on September 21. A meeting of the sub-committee of the Board of Directors is scheduled to be held on September 23, 2022, to consider the proposal to raise funds by way of issue of debt securities including secured or unsecured non-convertible redeemable debentures (listed/unlisted), through private placement, the company said in an exchange filing.
S P Apparels | CMP: Rs 432 | The scrip added over 2 percent after the Board of Directors approved the proposal to buy back up to 6,00,000 fully paid up equity shares having a face value of Rs 10 each representing up to 2.34 percent of the total number of equity shares in the paid-up equity share capital of the company, at a price of Rs 585.
Hi-Tech Pipes | CMP: Rs 593 | The stock price slipped over 2 percent after the firm announced the resignation of RN Maloo as Chief Financial Officer. The company has relieved Maloo from his duties with effect from September 20.
