Stocks to Watch on Monday: Nifty futures on the Singapore Exchange traded 318.5 points, or 1.97 per cent, lower at 15,866.50, signaling that Dalal Street was headed for a negative start on Monday. Bears were back in control of the Dalal Street after a day’s break and pulled down the benchmark indices by nearly 2 per cent as inflation concerns and growth worries came roiled the sentiment in the last session. The Sensex plunged 1,017 points, or 1.8 per cent, to 54,303, while the Nifty corrected 276 points, or 1.7, per cent to 16,202.
Vedanta
Billionaire Anil Agarwal-owned Vedanta’s iron & steel segment has ventured into iron ore mining operations in Liberia, West Africa through its subsidiary Western Cluster (WCL) with the ground-breaking ceremony that was held at the Bomi iron ore mine on June 8. WCL is a wholly-owned subsidiary of Bloom Fountain (BFL) which in turn is a wholly-owned subsidiary of Vedanta. WCL had signed a Mineral Development Agreement with the government of Liberia for three iron ore mining concessions in Bomi, Bea, and Mano in 2011. However, the operations could not be started due to the outbreak of the Ebola epidemic.
IIFL Finance
British International Investment Plc (formerly known as CDC Group Plc) offloaded 1.6 crore equity shares in the company through open market transactions on June 10. With this, its shareholding in the company stands reduced to 3.557 per cent from 7.772 per cent. However, Max Life Insurance Company acquired 24.6 lakh equity shares in the company and Nomura India Investment Fund Mother Fund bought 44,74,548 shares at an average price of Rs 325.1 a share.
Krishna Institute of Medical Sciences
Mirae Asset Mutual Fund acquired 1,08,472 equity shares in the company through open market transactions on June 9. With this, its shareholding in the company has gone up to 8.236 per cent from 8.1 per cent.
Lemon Tree Hotels
The company has signed a licence agreement for a 44 -room hotel in Gajuwaka, Visakhapatnam, Andhra Pradesh under its brand “Keys Lite by Lemon Tree Hotels”. The hotel is expected to be operational by March 2023. Carnation Hotels Private Limited, a subsidiary and the hotel management arm of the company, will operate this property.
IndInfravit Trust
The company proposes to acquire the entire equity share capital in five special purpose vehicles—three toll-road infrastructure assets (Simhapuri Expressway, Rayalseema Expressway, Mumbai Nasik Expressway) and two annuity infrastructure assets (Kosi Bridge Infrastructure Company, and Gorakhpur Infrastructure Company)—from BIF India Holdings Pte Ltd and Kinetic Holdings I Pte Ltd. Both entities (BIF and Kinetic) are owned by funds managed by Brookfield Asset Management Inc and its affiliates. The payment for the proposed transaction is based on a cumulative gross enterprise value of Rs 8,940.9 crore.
Jammu & Kashmir Bank
The bank said its board has approved the appointment of Pratik D Punjabi as the Chief Financial Officer.
Astron Paper & Board Mill
The company recorded a sharp fall in consolidated profit at Rs 0.32 crore for the quarter ended March 2022 against a profit of Rs 6.8 crore in same period last year, dented by muted revenue and lower other income. Revenue fell to Rs 143.2 crore from Rs 143.8 crore during the same period.
The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Read all the Latest News , Breaking News , watch Top Videos and Live TV here.
For all the latest business News Click Here
