Top 5 stocks in focus on September 25: GRSE, Aavas Financiers to Yes Bank; here are the 5 newsmakers of the day
Sensex closed 537 points down, while Nifty 50 settled down at the mark of 10,967. But there were certain stocks like YES Bank, Kajaria Ceramics and Garden Reach Shipbuilders, that came in the news after the market was closed and may have an impact on the market on September 25, 2018.
In the domestic share market, the S&P BSE Sensex and Nifty 50 slipped about 1.5 per cent each to reach and close at the two-month closing lows on September 24, 2018. Sensex closed 537 points down, while Nifty 50 settled down at the mark of 10,967. But there were certain stocks like YES Bank, Kajaria Ceramics and Garden Reach Shipbuilders, that came in the news after the market was closed and may have an impact on the market on September 25, 2018. Here is the list of 5 of such stocks:
Garden Reach Shipbuilders & Engineers (GRSE): The initial public offering (IPO) by state-run GRSE received a tepid response on the first day of the bidding process on Monday. The issue received bids for just over 1 per cent of total issue size of 2,92,10,760 shares.
Aavas Financiers: The company's initial public offering (IPO) to raise up to Rs 1,734 crore will open on Tuesday, .i.e. Today. Aavas has fixed its price band at Rs 818-821, aiming to raise up to Rs 1,734
YES Bank: The board of the private lender will meet today to decide on future course of action following the RBI's directive that the current CEO and MD Rana Kapoor should step down by end-January. Ahead of the board meeting, the bank said it has performed consistently under the leadership of Kapoor.
Public Sector Banks (PSBs): PSBs will remain in focus as the finance minister Arun Jaitley will meet their heads on Tuesday as part of the annual financial performance review exercise and to take stock of the sector reeling under non-performing assets (NPAs) and scams.
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Kajaria Ceramics: The Board of Kajaria Ceramics at its meeting held on Monday approved the acquisition of 30,00,000 equity shares of Rs. 10/- each of Kajaria Floera Ceramics, a subsidiary company, at a consideration aggregating to Rs. 3 crore, subject to applicable laws. Consequent upon the completion of the acquisition of the above said shares, Floera would become a wholly-owned subsidiary of the Company.