Stocks

Stocks that will see action on September 29

K. S. Badri Narayanan | Updated on: Sep 29, 2021

Stock Market Chart. 2d illustration | Photo Credit: bluebay2014

Focus on InterGlobe, HDFC AMC, Max Healthcare, TCS, Newgen Soft, KPI Global, Orbit Exports, Atul Auto, Compucom Software, Gujarat Gas

HDFC AMC: Media reports indicate that foreign promoter Standard Life Investments is likely to sell 1.06 crore equity shares (5 per cent stake) in HDFC Asset Management Company via an open market transaction on September 29. It may be recalled that LIC Of India had acquired 1.24 lakh equity shares in the company via an open market transaction on September 24, increasing shareholding to 5.007 per cent from 4.949 per cent earlier.

Max Healthcare: Reports suggest that American private equity major KKR is selling a 6.5 per cent stake in Max Healthcare Institute Ltd, worth Rs2,220 crore, in a block trade. KKR affiliate Kayak investments Holdings Pte Ltd is selling about 6.347 crore shares or 6.57 per cent of Max Healthcare at an indicative price range of ₹350-369.7 apiece, a discount of over 5 per cent to the closing price of ₹368.10.

Gujarat Gas/Adani Gas: State-run gas distributor Gujarat Gas Ltd has won a legal battle in the Supreme Court to secure distribution rights for outer Ahmedabad region, the company said in a regulatory filing on September 28. The case was fought against private sector player Adani Gas over the right for authorised distribution of gas in Ahmedabad Rural.

Interglobe Aviation: American Airlines is opening new doors across India this fall thanks to a new codeshare agreement with IndiGo. The agreement, announced on Tuesday, will place American's code on 29 of IndiGo's domestic routes in India, providing a convenient option for American Airlines customers arriving on the carrier's new Bengaluru (BLR) and Delhi (DEL), India, flights. The codeshare, which will require the US and Indian governments' approvals, is expected to begin in October, as American launches new service between New York (JFK) and DEL on October 31 and between Seattle (SEA) and BLR on January 4, 2022.

Newgen Software/TCS: Newgen Software, a global provider of low code digital transformation platform, has partnered with Tata Consultancy Services (TCS)-a leading global IT services, consulting, and business solutions organization-to deploy an enterprise-wide content repository and a multi-channel, multi-lingual communication suite for the Banking Service Bureau (BSB) in Israel

Shreyas Shipping and Logistics Limited has signed a Memorandum of Agreement (MOA) for acquisition of one Bulk carrier of 35,152 DWT and it will be delivered between before November end.

KPI Global Infrastructure has successfully commissioned 600 KW (AC) / 693 KW (DC) Solar Power Plant for N. J. Textile Industries Pvt. Ltd., Surat under Captive Power Producer category.

Orbit Exports has completed setting up of the Process / Dyeing House situated at GIDC, Sarigam Industrial Estate, Valsad, Gujarat. The land was acquired in August 2020 and the operations have started from September 28. The company had also completed setting up of the waterjet looms at an Industrial Plot at Fairdeal Textile Park, Mangrol, Surat that was acquired in February. The Plant has also started operations from September 28.

Ganesh Benzoplast: A meeting of the Board of Directors of the Company is scheduled on October 4 to consider and approve the Job Work agreement and other terms for conducting the chemical business between the parent company - Ganesh Benzoplast Limited and its 100% subsidiary (Wholly Owned Subsidiary) GBL Chemical Limited, without transferring any immovable property owned by the company, as approved by the members in the Annual General Meeting of the company held on September 27, 2021.

IMP Powers Limited has submitted a Resolution Plan to its lenders for restructuring of its credit facilities under the RBI guidelines. The same is under discussion with lenders. The Company is confident of successful restructuring of its debt and shall intimate its outcome.

Atul Auto has informed the exchange that the commercial production at Bhayla, Ahmedabad plant of the company for manufacturing three-wheeler automobiles commenced on September 27.

Compucom Software has won a tender and received a Letter of Acceptance for job works for building and other construction work from Building and Other Construction Worker Welfare Board (BOCW), Labour Department, Rajasthan for a period of 12 months, worth ₹6.07 crore.

Gallantt Metal: Considering the economically not viable, the Board of Gallantt Metal Ltd has approved the proposal to sell the 106 acres (approx.) of land situated at Village - Halavarthi, Koppal, Karnataka which was acquired to set up a steel manufacturing plant.

Published on September 29, 2021
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