Stocks

Companies and stocks to track today: Sept 29, 2020

K.S. Badri Narayanan Chennai | Updated on September 28, 2020 Published on September 29, 2020

Scrips likely to see action: HDFC Asset Management, Nippon Life India Asset Management, State Bank of India, Life Insurance Corporation of India, Bank of Baroda, Punjab National Bank, Anuh Pharma, Cosmo Films

UTI Asset IPO: Focus on peers, selling shareholders

Shares of HDFC Asset Management and Nippon Life India Asset Management will remain in focus as the initial public offering of UTI Asset Management Co opens for subscription on Tuesday.

As the IPO comprises an offer-for-sale of up to 3.90 crore shares by five shareholders - State Bank of India, Life Insurance Corporation of India, Bank of Baroda, Punjab National Bank and T Rowe Price International (TRP) - shares of these listed banks will also be in focus.

The price band of the issue has been fixed at Rs 552-554 a equity share.

As UTI AMC came out with a slightly higher valuation compared with other AMCs, analysts will watch the response to the issue.

WHO nod may boost Anuh Pharma

The stock of Anuh Pharma will remain in focus as the company has received pre-qualification approval from WHO Geneva for pyrimcthamine API, which is used in anti-malarial drugs. Though the stock may see buying interest following the announcement, shareholders will closely monitor further developments.

Cosmo Films: Will new launch add fragrance to stock?

Cosmo Films, a global leader in speciality films for flexible packaging, lamination, labelling applications and synthetic paper, has introduced a new bi-axially oriented polypropylene (BOPP) based coated film. The new product is designed to slowly release a fragrance which lasts for a long time.

The film has a matte finish on one side, while the other side is extrusion coated for thermal lamination applications. Through initial tests, these newly designed films have proven to remain fragrant for more than two months, and it is expected that the film would continue to release a soothing fragrance for almost six months, it said in a release to the stock exchanges. The film is available in 24 micron thickness and is suited for thermal or wet lamination.

The film can be widely used for applications such as catalogues, book covers, various bonds, magazines, visiting cards, packaging for cosmetics, personal care items and more.

Shareholders will closely monitor further developments on the product.

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Published on September 29, 2020
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