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Stocks in Focus on September 25: IRCTC, Kaveri Seed to GATI; Here are 5 Newsmakers of the Day
Even as the key benchmarks, Sensex and Nifty, ended almost flat on Tuesday, certain stocks came in news after the market was closed for trading which can have an impact on the indices when it reopens today.
After surging in the previous two sessions, the key benchmarks, Sensex and Nifty, ended almost flat on Tuesday, September 24, 2019. However, certain stocks came in news after the market was closed for trading and can have an impact on the indices when it reopens on Wednesday, September 25, 2019. Here is a list of five such stocks:
IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) has plans to launch its initial public offering (IPO) on September 30, 2019. Meanwhile, it is likely to announce the price band for its IPO today, September 25, 2019.
Kaveri Seed Company Limited: The Board of Directors of the company on Tuesday considered and approved the proposal for buyback of fully paid-up Equity Shares not exceeding 28 lakh share, representing 4.44% equity shares of the company, aggregating to Rs 196 crore. The buyback price is set at Rs 700 per share.
IDBI Bank: To clean up its balance sheet, the bank has put its non-performing loans worth over Rs9,750 crore on the block. The block that will be put on sale includes Reliance Communication, JBF Petrochemical, JBF Industries, Lanco Amarkantak and Unitech among others.
GATI: Goldman Sachs sold 2.17 lakh shares of GATI Ltd on September 20, 2019. With this, Goldman Sachs has reduced its stake in the company from 7.12% to 5.12%.
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PTC India/PTC Financial: India's top power company, PTC India, has plans to sell two subsidiaries, namely PTC India Financial Services (a non-bank lender) and PTC Energy (renewable energy firm), to raise around Rs2,000 crore, media reports. The company seeks to exit from the non-core business.
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