Stocks in Focus on September 25: Canara Bank, Telecom Stocks, RITES to Mahindra & Mahindra; here are expected newsmakers of the day
Stocks in Focus on September 25: Canara Bank, Tomas Cook India, Telecom Stocks, RITES, Mahindra & Mahindra, etc. are expected to remain newsmakers throughout the intraday trade session.
Stocks in Focus on September 25: Benchmark indices plunged on Thursday, September 24, 2020, around three per cent amid tumbling global share markets. Domestic stocks fell for the sixth session in a row. The Sensex at Bombay Stock Exchange lost 1,115 points, or 2.96 per cent, to close at 36,554. The Nifty at National Stock Exchange also declined 326 points, or 2.93 per cent, to settle at 10,806. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, September 25, 2020. List of such five stocks:
Triggers: Certain events, like October Series, Nifty changes, Canara Bank, Thomas Cook, Flight Refund Case and AGM, can create positive/negative reactions in the share market when it opens today. Find them in detail:
October Series begins: The October 2020 F&O contracts series will begin today, i.e. on September 25, 2020.
Changes in Nifty 50 Index: Divi’s Laboratories and SBI Life Insurance Co will replace Bharti Infratel and Zee Entertainment Enterprises in the Nifty50 index from September 25.
Canara Bank: The Board of Directors of the public sector bank will meet today to consider and approve the capital raising plan through Qualified Institutional Placement (QIP).
Tomas Cook India: Board of Thomas Cook (India) will meet today to consider and evaluate certain matters about the Buyback of more than 2.60 crores fully paid-up equity shares at Rs 57.50 per equity share for a maximum aggregate amount of Rs 150 crore.
Flight Refund Case: The Supreme Court is scheduled to hear the flight refund case today.
AGM: Annual General Meeting of companies, namely Apollo Hospitals Enterprise Ltd, Balmer Lawrie & Company Ltd, BEML Ltd, Berger Paints India, Bliss GVS Pharma, D B Corp Ltd, Gujarat Alkalies & Chemicals Ltd, Gujarat Fluorochemicals Ltd, Hathway Cable & Datacom, IDFC Ltd, IndusInd Bank Ltd, Jindal Saw, NCC Ltd, P I Industries Ltd, Phoenix Mills Ltd, REC Ltd, Suzlon Energy and WABCO India Ltd, is scheduled to be held today.
See Zee Business Live TV streaming below:
Angel Broking IPO Update: The Rs 600 crore initial public offering of Angel Broking was subscribed 3.95 times on the last day forbidding, i.e. September 24, 2020. The quota set aside for qualified institutional buyer (QIB) was subscribed 5.76 times, while retail investors’ quota was subscribed 4.32 times. The non-institutional investors (NIIs) section was subscribed 0.69 times. The price band for the issue has been fixed at Rs 305-306 per share.
Telecom Stocks in Focus (TRAI Data- June): The latest subscription data released by the Telecom Regulatory Authority of India (TRAI) for June 2020 said that Reliance Jio added nearly 44.9 lakh subscribers in June 2020, while Vodafone Idea (Vi) lost 48.2 lakh users in June and Bharti Airtel also lost 11.2 lakh customers in the same period. According to the latest data, Reliance Jio’s subscriber base increased to 30.5 crore in June, while the subscriber base for Bharti Airtel and Vodafone Idea went down to 31.6 crore and 30.5 crore, respectively.
RITES: The state-owned infrastructure development company RITES on Thursday said that it has bagged a major turnkey contract worth Rs 206 crore for construction of road over bridges in Andhra Pradesh from Indian Railways.
Mahindra & Mahindra (M&M): The world’s largest farm tractor manufacturer by volume Mahindra & Mahindra Ltd on Thursday said that it has raised its shareholding in Sampo Rosenlew Oy to 74.97 per cent from 49.14 per cent. Mahindra & Mahindra has been a shareholder in Sampo Rosenlew since July 2016. Pursuant to the said transaction, Sampo would become a subsidiary of the Company.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.