Here’s a brief look at the stocks that could be the focus of today’s trading.
KEC International: KEC International, a leading engineering and construction company, has launched a Qualified Institutional Placement (QIP) to raise 4,500 crore by selling equity shares. QIP has set a floor price of ₹976.64 per share; however, the business may allow a reduction of up to 5%. This comes after a special resolution approved at the company’s AGM on August 22, 2024, and board approval on July 26, 2024.
PC Jewellers: The Board of Directors of Multibagger Stock PC Jewellers will meet on September 30, 2024, to debate the subdivision of shares, marking the company’s first-ever stock split. At now, the face value of each equity share is ₹10. It is anticipated that the firm would provide further information regarding the split at the meeting.
NBCC: The Supreme Court will take up NBCC’s proposal to finish 17 Supertech Limited projects that have stalled in a significant judgement that might benefit 27,000 homebuyers. This reminds me of an earlier intervention of a similar nature with the Amrapali Group, which was to provide assistance to homeowners who were stranded in unfinished properties.
MCX: With effect from October 1, 2024, Multi Commodity Exchange (MCX) has modified its transaction costs for contracts involving futures and options. Fees: ₹2.1 per lakh of turnover value will be charged for futures contracts, and ₹41.8 per lakh of premium turnover value will be charged for options contracts.
NHPC: NHPC Ltd, a state-run hydropower company, is expected to raise more than 2,300 crore in the current fiscal year, surpassing its initial goal of 2,000 crore. This action promotes the growth objectives of NHPC and is in line with the Union government’s monetisation aims. In order to do this, the business intends to securitise the return on equity from its Jammu and Kashmir-based Dulhasti Power Station for the following eight years. The project will remain entirely owned by NHPC in spite of this financing arrangement.
HDFC Life Insurance: On September 27, 2024, HDFC Life Insurance’s board will convene to finalise the commercial conditions for the issuance of non-convertible debentures (NCDs). Prior to July 2024, the business had authorised raising up to ₹2,000 crore through NCDs, which would be distributed in several tranches through private placement.
Delta Corp: The demerger of Delta Corp’s real estate and hospitality businesses through a Composite Scheme of Arrangement has been authorised. The merging company will now function as Delta Penland, a recently established subsidiary. The share entitlement ratio states that for each equity share held in Delta Corp, qualified shareholders will get one new equity share in Delta Penland.
Easy Trip Planners:
Easy Trip Planners’ promoter Nishant Pitti is anticipated to use block transactions to sell up to 8.5% of his ownership interest in the business. At an indicative price of ₹41.5 per share, the anticipated block size is ₹622 crore. Pitti owned a 28.13% share in the travel tech platform as of the June quarter.
Car Trade Tech : Recently, Highdell Investment, controlled by Warburg Pincus, sold its 8.64% share in CarTrade Tech for a price over ₹375 crore. A considerable change in ownership has occurred with the acquisition of a 6.4% share in the business by Mirae Asset Mutual Fund.
JSW Group: The JSW Group, owned by Sajjan Jindal, has declared that it will not be moving its ₹40,000 crore project to manufacture batteries and electric vehicles (EVs) from Odisha to Maharashtra. In a press release on Tuesday, the business denied previous rumours that it might relocate to Aurangabad or Nagpur. To begin the project in Cuttack and Paradip, JSW first signed a Memorandum of Understanding (MoU) with the Odisha government in February. The corporation reiterated its commitment to the Odisha locations for the project in spite of rumours of a transfer.