Stocks to Watch: HDFC Bank, Zee Entertainment, Piramal Enterprise, Max Healthcare and More
Indian markets on Thursday, tracking global cues is expected to open in the negative territory. At 0721 hours IST, the Nifty Futures on the Singaporean Stock exchange was trading at 17,695.80, down 14.55 points, or 0.08 per cent, signaling a flat start for the Indian equity markets on Thursday. On Wednesday, the Wall Street had a mixed finish for the major stock indexes, as technology and communication companies weighed on the market for a second straight day. The S&P 500 rose 6.83 points to 4,359.46. The Dow gained 90.73 points to 34,390.72, while the Nasdaq fell 34.24 points to 14,512.44. Apart from US Stock market, Asian markets also behaved in similar fashion. Hong Kong stocks opened slightly lower on Thursday morning after a three-day gain, The Hang Seng Index dipped 0.69 percent, or 169.24 points, to 24,494.26. The Shanghai Composite Index added 0.16 percent, or 5.63 points, to 3,541.93. benchmark Nikkei 225 index was down 0.10 percent, or 28.84 points, at 29,515.45 about half an hour after the opening bell, while the broader Topix index traded down 0.18 percent, or 3.58 points, at 2,034.71.
On Wednesday, the 30-share BSE Sensex opened weak and extended its losses, before staging a comeback in late-afternoon trade to close at 59,413.27, still down by 254.33 points or 0.43 per cent. Similarly, the broader NSE Nifty declined 37.30 points or 0.21 per cent to finish at 17,711.30.
Here are some stocks that would be in focus today
Indian Overseas Bank: Indian Overseas Bank is taken out of the Prompt Corrective Action Framework by the RBI.
Blue Dart Express: The company announced its general price increase, effective from January 2022. The average shipping price increase will be 9.6% compared to 2021.
Piramal-DHFL: Piramal Group has completed the acquisition of Dewan Housing Finance Corporation Ltd (DHFL) by paying Rs 34,250 crore to the creditors of the housing finance company, marking the first successful resolution of a financial services company under the Insolvency and Bankruptcy Code.
Zee Entertainment: Invesco Developing Markets Fund on Wednesday moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises and three of its directors, including Chief Executive Officer and Managing Director Punit Goenka, for not calling an extraordinary general meeting (EGM) of the company, as sought by the US fund.
HDFC: Private sector lender, HDFC Bank on September 29 said it has issued over four lakh credit cards since the embargo by the Reserve Bank of India (RBI) was lifted.
Ashoka Buildcon: The company further acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road (ABSRPL) for Rs 2 lakh. ABSRPL is now a wholly owned subsidiary of the company post the acquisition.
Lincoln Pharmaceuticals: Promoter Ashish Rajanibhai Patel picked 31,000 equity shares in the company via open market transaction on September 27, increasing shareholding to 5.16% from 5% earlier.
JK Cement: The company has undertaken upgradation of clinker Line 3 at JK Cement Works, Nimbahera Unit. With this the clinker capacity of Line 3 stands increased to 6,500 tonnes per day (TPD), from 5,000 TPD.
Karur Vysya Bank :Olympus India Holdings sold 2.1 crore equity shares in the bank at Rs 46.62 per share on the BSE, the bulk deals data showed
Persistent Systems: US subsidiary acquire Software Corporation and its affiliate Fusion360. The company also entered into an agreement with Shree Infosoft, India to acquire its business. Along with this transaction, its US subsidiary will acquire certain assets from Shree Partners LLC, USA, parent company of Shree Infosoft.
Indag Rubber: The company approved sale of 15 lakh equity shares of joint venture company SUN Mobility EV Infra, to joint venture partner EPIC Mobility Technologies ,
IndiaMART InterMESH: The company has made an additional investment of Rs 10 crore to acquire 7 percent stake in Mobisy Technologies (MTPL). The total shareholding of the company in MTPL, post this investment, would be 15.98 percent.
unteck Realty | Tata Mutual Fund: Money Market Fund bought 11 lakh shares in the company at Rs 465.12 per share on the NSE, the bulk deals data showed.
HDFC AMC: Foreign promoter Standard Life Investments sold 1,06,50,000 equity shares in the company at Rs 2,873.79 per share, whereas T Rowe Price Emerging Markets Stock Fund acquired 15,19,557 equity shares at Rs 2,871.05 per share on the BSE, the bulk deals data showed
Max Healthcare Institute: Veritas Funds Plc on behalf of Veritas Asian Fund acquired 52 lakh shares in the company at Rs 350 per share, SBI Mutual Fund bought 4,28,57,000 shares at same price, and HDFC Mutual Fund purchased 57 lakh shares at same price. However, promoter Kayak Investments Holding sold 6,02,19,498 equity shares in the company at Rs 350 per share, and 2,42,30,377 equity shares at Rs 350.13 per share on the NSE, the bulk deals data showed.
Just Dial : Nalanda India Equity Fund sold 10,18,295 equity shares in the company at Rs 990.01 per share on the NSE, the bulk deals data showed..
Faze Three : Ace investor Ashish Rameshchandra Kacholia bought 4.5 lakh equity shares in the company at Rs 288.80 per share, and Ajay Anand acquired 2.5 lakh shares in the company at Rs 288.20 per share, whereas Salim Pyarali Govani sold 7,34,184 equity shares in the company at Rs 288.92 per share on the BSE, the bulk deals data showed.
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