Stocks to watch: SBI, agri-related stks, GMM Pfaudler, Aarti Drugs, IDBI Bk
At 8:49 AM, Nifty futures on the Singapore Exchange (SGX) traded 81 points, or 0.72 per cent higher at 11,307, indicating a gap-up start for the Indian market on Tuesday.
Here’s a look at the top stocks that may remain in focus today-
Bharti Airtel, Vodafone Idea: On Monday, a Press Trust of India report quoted an unnamed DoT official to say that telecom operators, including Bharti Airtel and Vodafone Idea, which have pending AGR dues, will have to pay 10 per cent of the total liability by March 31, 2021, irrespective of the part-payments made by them.
Aarti Drugs: The company’s board has fixed October 1, 2020 as the Record Date for the bonus issue in the ratio of 3:1.
CEAT: The company is scheduled to hold a board meeting on Friday (September 25) to consider and approve the proposal for raising of funds through issuance of Non-convertible Debentures on private placement basis.
Deepak Nitrite: Vanguard Group has bought 12,02,981 shares of the company at an average price of Rs 839.18, NSE bulk deal data shows.
HSIL: The company’s board has approved buyback of up to Rs 70 crore worth of shares at Rs 105 apiece.
GMM Pfaudler: Promoters of the company, Pfaudler Inc, Millars Machinery, and Urmi Patel, have proposed to sell up to 25,71,429 shares via offer for sale. The floor price has been set at Rs 3,500 apiece. For non-retail investors, OFS will open today and for retail investors, the date of the opening of the offer is September 23 (Wednesday).
SBI: The country’s largest lender State Bank of India on Monday said it has raised Rs 7,000 crore by issuing Basel III compliant bonds.
Kwality: The Central Bureau of Investigation conducted searches at eight locations after booking Delhi-based dairy products company Kwality and its directors for allegedly cheating a Bank of India (BoI)-led consortium, causing a loss of over Rs 1,400 crore, officials said.
Agri-related stocks: The government on Monday hiked the minimum price for buying six rabi crops, including wheat, by up to six per cent, as it sought to send a strong message to farmers on continuation of MSP-based procurement system.
IDBI Bank has appointed six investment banks in the run-up to its mega fundraising exercise in November. Sized at Rs 11,000 crore, the qualified institutional placement will be the bank’s maiden equity raise exercise in over five years.