HERE ARE THE STOCKS IN FOCUS TODAY 09-10-2020

Adani Green Energy: Fitch affirmed Adani Green Energy Restricted Group 2’s notes at ‘BBB-‘, and the outlook is Negative.

EIH Limited RE: General Insurance Corporation of India sold 8,28,235 rights entitlement shares in the company at Rs 7.87 per share, whereas Globe Capital Market acquired 6,24,252 RE shares at Rs 7.83 per share on the NSE.

Premier Explosives: Dilipkumar Vishindas Lakhi bought 84,420 shares in the company at Rs 113.95 per share on the NSE.

Solara Active Pharma: Ascent India Fund III sold 3,41,848 shares in the company at Rs 1,212.64 per share on the NSE.

Solar Industries India: Company and its subsidiary Economic Explosives have received orders from Singareni Collieries Company (SCCL) for the supply of explosives and initiating systems worth Rs 447 crore, to be delivered over a period of two years.

GOCL Corporation: Subsidiary IDL Explosives (IDLEL) has bagged an order of Rs 186.78 crore from Singareni Collieries Company for the supply of bulk explosives and accessories.

Surya Roshni: CARE reaffirmed credit ratings at A+ for the company’s long term facilities, A1 for short term facilities, and A1+ for commercial papers.

Srikalahasthi Pipes: Belgrave Investment Fund increased stake in the company to 5.80 percent from 4.95 percent earlier.

OnMobile Global: Fonestarz Media Group Limited, a non-material wholly owned step down subsidiary of the company has been dissolved.

5paisa Capital: Company reported profit at Rs 2.84 crore in Q2FY21 against a loss of Rs 3.5 crore in Q2FY20, revenue increased to Rs 52.35 crore from Rs 23.3 crore YoY.

JK Cement: Company successfully commissioned 0.7 million tonnes per annum grey cement grinding capacity at Balasinor, Gujarat unit, and also commenced commercial dispatches.

Rate-sensitive stocks in focus: Rate-sensitive stocks including names like Maruti, Tata Motors, DLF, Godrej Properties, Bajaj Auto, Hero MotoCorp, SBI, PNB, ICICI Bank, and HDFC Bank will be in focus.

As the MPC, which is the rate-setting panel of the Reserve Bank of India is set to announce its decision on October 9 after a three-day meet.

Most economists expect that the MPC outcome tomorrow will be a status-quo on rates and continuation of the ‘accommodative’ stance.

Cybertech Systems and Software: Further overseas direct investment of $0.2 million has been made in subsidiary Spatialitics LLC, USA.

LKP Finance: Authum Investment & Infrastructure cut its stake in the company to 6.72 percent from 15.86 percent earlier.

TCS: Company launched state-of-the-art threat management centers across the world to protect customers from cyber-attacks.

Lakshmi Vilas Bank: Further to the process of considering and evaluating the proposed amalgamation with Clix Capital Services, Clix Finance India, and Clix Housing Finance, the bank has received an indicative non-binding offer from Clix Group.

HPCL: Fitch affirms HPCL’s long-term rating at ‘BBB-‘; outlook negative.

Union Bank of India: CARE Ratings revised ratings to ‘CARE AA+ Outlook Negative’ from ‘CARE AA+ (Under Credit watch with Developing Implications)’.

CreditAccess Grameen: Company’s QIP closed – determined and approved the issue price of Rs 707 per equity share.

Vedanta: The final day of the reverse book building process is October 9 in which public shareholders can tender the shares as the company readies to get delisted from Indian bourses.

Media reports suggest share tendering has been tepid so far.

The reverse book-building process for public shareholders to tender their shares started on October 5 and will conclude on October 9.

The meeting condition is – bids submitted should be sufficient to take promoter shareholding to 90 percent, at least.

As per BSE data, a total 1,69,73,90,047 shares held by public shareholders are there for tendering, out of which, 134 crore shares should be tendered for the delisting process to take place.

Were The Stocks In Focus Today 09-10-2020

Source: Moneycontrol

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