Stocks in News Today: Bajaj Finance, JSW Steel, Delta Corp, Zen Technology and More
Stocks in News Today 25 Sept 2023: The Indian stock market indices, Sensex and Nifty are trading higher by 0.27 percent and 0.25 percent respectively. The Bank Nifty is trading higher by 0.56 percent at 12.55 p.m IST. The broader markets are also trading higher following their larger peers, as the Nifty mid and smallcap indexes are trading higher by 0.32 percent and 0.29 percent respectively.
Among the sectors, Financial Services, Bank, and Realty Sectors are trading as top gainers, while IT, Media, and Metal sectors are trading slightly lower.
Nifty 50 Stocks in News
SBI: The leading PSU Bank, SBI has raised Rs 10,000 crore through long-term infrastructure bonds at a 7.49% coupon rate. The amount will be utilized to enhance long-term resources for funding infrastructure and the affordable housing segment. The bank has a total of outstanding long-term bonds worth Rs 39,718 crore with this issue. The share price of SBI is trading lower by 0.61 percent and at Rs 594.45 per share
Reliance Industries: The Reliance Retail Ventures, the retail segment of Reliance Industries received the full subscription amount of Rs 2,069.50 crore from the global investment firm KKR. It allotted 1.72 crores of equity shares to KKR, with this KKR’s holding now increased to 1.42 percent. The share price of Reliance Industries is trading lower by 0.42 percent at Rs 2345 a piece
JSW Steel: The Indian multinational steel producer has executed the Termination Agreement with New Zealand’s National Steel Holdings (NSHL) for the termination of the JV agreement for establishing scrap shredding facilities in India. It signed the Securities Purchase Agreement with NSHL to acquire a 50% stake in NSL Green Recycling. The share price of JSW Steel is trading higher by 0.80 percent at Rs 780.50 per share
Bajaj Finance: The share price of the leading NBFC company is trading higher by 4.52 percent at Rs 7809.95 per share, as the board will convene on Oct. 5 to consider raising funds via QIP.
Mid and Smallcap Stocks in News
Mahindra & Mahindra Financial Services: The Indian rural NBFC has completed the acquisition of Mahindra Insurance Brokers for Rs 206 crore, at a price of Rs 1,001 per share. MIBL is now a wholly-owned subsidiary of the company. The share of M&M Fin Service is trading lower by 0.79 percent at 300.05 per share
Ircon International: The Indian Railway Construction International Limited has a contract worth $14.89 million, or Rs 122 crore, with Sri Lanka Railways for the design, installation, and commissioning of signaling and telecommunication systems. The share of Icron International is trading higher by 1.48 percent at 143.70 per share
Zen Technologies: The Defence Training & Solution company has bagged a Rs 227.65 crore order from the Defence Ministry. The share price of Zen Technologies is trading higher by 5 percent at 756.20 per share
Delta Corp: The only listed Indian Gaming and Hospitality company received a Rs 11,139-crore GST demand order from Hyderabad’s Directorate General of GST Intelligence. The company informed the tax liability amount claimed is based on the gross bet value of all games played at casinos rather than gross gaming revenue. It will pursue remedies to challenge the tax demand. The share price of Delta Corp is trading sharply lower by 17.42 percent at Rs 144.90 per share.
Inox Green Energy: The major Wind Power operation and maintenance company has entered into a share subscription agreement to acquire a 51% stake in Resowi Energy. The share price of Inox Green Energy is trading lower by 0.31 percent at Rs 65 per share.
Global Stock Market Updates
On the global front, Asian markets are trading mixed on Monday. Japan’s Nikkei closed higher by 0.85 percent while China’s Shanghai index is down by 0.51 percent. Hang Seng extended early losses and is trading lower by 1.79 percent. Australi’s S&P ASX 200 closed slightly higher. The European markets are heading for a lower opening on Monday, while the US future indexes, Dow Futures and Nasdaq futures are trading slightly higher at 12.30 pm IST.
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Also, read Stock Market Prediction Next Week (18-22 Sept 2023)
Nifty and Sensex Teetering on the Edge Amid Mixed Asian Cues
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