Stocks in Focus on September 28: Raymond, BPCL, Shyam Metalics, UTI AMC to Textile Stocks; here are the 5 Newsmakers of the Day
At the stock markets, S&P BSE Sensex at the Bombay Stock Exchange ended with a marginal rise of 29.41 points, or 0.05%, at a fresh record high of 60,077.88, on Monday, September 27, 2021.
At the stock markets, S&P BSE Sensex at the Bombay Stock Exchange ended with a marginal rise of 29.41 points, or 0.05%, at a fresh record high of 60,077.88, on Monday, September 27, 2021. The Nifty at the National Stock Exchange moved up just 1.90 points, or 0.01%, to another all-time high of 17,855.10. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, September 28, 2021. List of such five stocks:
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Raymond Ltd.: Textile to engineering conglomerate Raymond has announced an organisational restructuring plan to improve synergies and explore monetization options for deleveraging the company. The board has approved the demerger of the apparel business and transfer it into Raymond Limited to consolidate the B2C business. The board has also approved the transfer of Tools & Hardware and Auto Components businesses into Engineering business (JK Files). Zee Business in the past has exclusively reported about restructuring plans by Raymond. Gautam Singhania says, “We are consolidating the business to explore all options available to us for monetisation, which will enable deleveraging leading to value creation.”
BPCL + IGL
BPCL: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) has plans to invest Rs 1 lakh crore over the next five years. It will invest Rs 30,000 crore in the petrochemical business, Rs 20,000 crore on gas proliferation, Rs 5,000 crore on renewable energy, Rs 7,000 crore on biofuels. Chairman on Divestment, “Government intends to complete disinvestment by the end of March 2022”. Besides, the company is waiting for SEBI’s response on the stake in Indraprastha Gas and Petronet.
IGL: State-owned Indraprastha Gas Limited (IGL) has signed a pact with South Delhi Municipal Corporation (SDMC) to set up a waste-to-energy plant in the national capital to convert municipal solid waste into compressed bio-gas (CBG) for fuelling CNG-run vehicles.
Shyam Metalics: Shyam Metalics on Monday said it is planning to invest Rs 850 crore in 2021-22 as part of its ongoing capacity expansion. Under the framework, the Asset management companies (AMCs) should have approved internal policy for measurement of organization-wide risk like operational risk, technology risk, legal risk, talent risk, outsourcing risk, etc.
SEBI’s risk management framework + Textile Stocks
UTI AMC/Nippon Life/HDFC AMC: Markets regulator SEBI on Monday released a revised risk management framework for mutual funds with certain mandatory and recommendatory elements. The risk management framework will apply from the fund house level to the scheme level. Under the framework, the asset management companies (AMCs) will have to focus on investment risk to talent risk. The new risk management framework will be considered effective from January 1, 2022.
Textile Stocks: Textile Ministry notifies the textile PLI scheme of Rs 10,683 crore. Incentives will be available on manmade fibre clothing and fabric. Zee Business had exclusively reported the news earlier.
Insider Trades + Bulk Deals
PSP Projects: Abakkus Emerging Fund Bought 4.45 Lakh shares at Rs 425.68/share. Bellwether Capital Sold 3.34 Lakh shares Rs 490.53/share. Patel Shilpaben Sold 15.50 Lakh Shares at Rs 423.07/share.
Royal Orchid: Promoter Keshav Baljee Sold 2.71 Lakh shares at Rs 103/share.
Greenlam Industries: Promoter Saurabh Mittal sold 1% (2.4 lakh shares) on September 27, 2021.
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