Shares of Zee Entertainment will see higher activity as it replaces United Spirits in the NIfty. United Spirits will also be replaced from other indices, such as CNX Nifty Junior, CNX 100, CNX 200, CNX 500, CNX FMCG, CNX Consumption, LIX 15 and NI15. Mutual funds, mainly index and exchange traded funds, tracking Nifty will have to adjust their portfolios to accommodate the latest changes. This rejig will adversely affect United Spirits’ share prices while benefiting Zee Entertainment.
‘Aagadu’ release to keep Eros Intl in focus
Stock of Eros International Media will remain in focus as the company on Friday releases Mahesh Babu-starrer and Tamanna Bhatia Telugu actioner “Aagadu” in collaboration with 14 Reels Entertainment. The film, directed by Srinu Vaitla, will release on 2,000 screens across the globe. Eros International has so far not revealed the financial details of the release. Expectations are running high and a box-office hit will boost the shares further. The film is dubbed in other southern languages too.
Panama Petrochem turning ex-split
Shares of Panama Petrochem will start trading at around ₹60 from Friday, as the company has fixed September 19 as ex-date for the stock split. Panama Petrochem proposes to split the face value of its shares from ₹10 to ₹2 to enhance liquidity in the stock. The stock on Thursday closed around ₹310. However, those buying the shares of Panama Petrochem on Friday will not be eligible to receive the post-split shares. The stock, which has been on the rise, hit a multi-year high of ₹319 on Thursday.
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