Stocks to Watch: Check out the companies making headlines before the opening bell.
Coal India: The coal ministry said the company would sign a Memorandum of Understanding with three major PSUs for coal to chemical products. It will set up four surface coal gasification projects, and aims for 100 MT coal gasification by 2030, says the ministry, reports CNBC-TV18.
State Bank of India: The bank has raised Rs 4,000 crore through non-convertible debentures on private placement basis.
Harsha Engineers International: The company will make its debut on the bourses today. The offer price has been fixed at Rs 330 per share.
PI Industries: Promoter Mayank Singhal has offloaded 0.6% stake or 10 lakh shares in the company via open market transactions. These shares were sold at an average price of Rs 3,150 per share.
Britannia Industries: The board of directors has elevated Varun Berry to Executive Vice-Chairman and Managing Director of the company, and appointed Rajneet Kohli as Executive Director and Chief Executive Officer, with immediate effect. Rajneet Kohli will report to Varun Berry.
Unichem Laboratories: Unichem Labs liquidates 19.97% stake in Optimus Drugs for Rs 271 crore. The company has completed its sale of 19.97% equity shares in Optimus Drugs to Sekhmet Pharmaventures. Accordingly, it has received payment towards completion of sale of first tranche.
RailTel Corporation of India: The Government of India has appointed Sanjai Kumar as Chairman and Managing Director of the company, with effect from September 23.
Embassy Office Parks REIT: Blackstone Inc will sell a stake worth up to $ 400 million in Embassy Office Parks REIT, India’s biggest real estate investment trust, via block deals, and Abu Dhabi’s sovereign wealth fund is likely to pick up at least half of the stake that Blackstone is to sell, reports Reuters quoting sources.
Spandana Sphoorty Financial: The non-banking finance company has raised Rs 40.35 crore through its non-convertible debentures issue. The board members have approved an allotment of 402 non-convertible debentures of face value of Rs 10,03,924 each, on a private placement basis. The date of maturity for the said NCDs is April 1, 2024.
GG Engineering: Uttam Kumar has resigned as Chief Financial Officer of the company, citing personal and unavoidable circumstances.
Sterlite Technologies: Mihir Modi has tendered his resignation as Chief Financial Officer and key managerial personnel of the company. He will be relieved from his duties with effect from October 15.
Infibeam Avenues: The fintech & payment infrastructure company has consolidated its international business to aggressively tap and expand its global digital payment gateway infrastructure market. The company’s three fully owned international subsidiaries – Infibeam Avenues Australia Pty Ltd, AI Fintech Inc in the US and Infibeam Avenues Saudi Arabia for Information Systems Technology will become a step-down subsidiary of the company after being transferred to its UAE-based subsidiary, Vavian International. Vavianis the second largest payment aggregator in UAE. The company plans to increase its global play in the digital payments space by going aggressively with its flagship brand CCAvenue.
Goa Carbon: The company said the board of directors will meet on September 29 to consider raising of funds through issue of equity shares to the existing equity shareholders. The fund raising will be through rights issue.
Laxmi Organic Industries: The company has resumed its operations at its Mahad plant in Maharashtra. It will continue to increase the capacity utilisation in next few weeks. The plant was shut down for 21 days to undertake maintenance activities.
A Infrastructure: The company has received letter of intent from MP Industrial Development Corporation for allotment of 1.01 lakh square meters land. It will be setting up a large manufacturing unit.
Moneycontrol News
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