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Shares of Manjushree Technopack will remain in focus, as the delisting offer from its promoters kicks off on Tuesday. The offer ends on February 2. Promoters, who hold 71.08 per cent stake, have fixed ₹378.49 a share as floor price for the delisting. With the stock on Friday closing at ₹435 apiece, the response to the offer remains to be seen. The acquirers plans to mop up 39.18 lakh shares. The offer will be successful if promoters' holding touches 90 per cent post-offer.
Promoters to dilute stake in Accel Frontline
The stock of Accel Frontline will remain active as its promoters - NR Panicker, Accel Systems Group Inc, US, and Accel Ltd - have decided to sell 38.88 lakh shares in it through the offer for sale route on the NSE on Tuesday. The floor price of the offer will be submitted to the NSE in a sealed cover. Promoters now hold 89.02 per cent stake in the company. The proposed sale will help the company meet SEBI's minimum public shareholding norm of 25 per cent.
Maruti Suzuki, Idea results on Tuesday
Maruti Suzuki, Idea Cellular, Titan Company, Union Bank of India, Welspun Projects, Max India, Karnataka Bank, Godrej Properties, Gujarat State Fertilizers & Chemicals, Amara Raja Batteries, Chennai Petroleum Corporation and Cholamandalam Investment and Finance are some of the prominent firms that will declare their financial performance on Tuesday. Tata Coffee, Gati, Shriram Transport Corporation and City Union Bank will announce their numbers on Saturday
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