Nifty closed below 25,200 as the Sensex dropped 203 points. Top gainers on the Nifty include Asian Paints, Grasim Industries, HUL, Apollo Hospitals, and Sun Pharma. Wipro, Coal India, ONGC, Hindalco Industries, and M&M were the top losers. Sector-wise, FMCG, realty, and pharma each saw a 0.5% rise, while auto, banking, energy, IT, and metal sectors declined by 0.4% to 1%. The BSE Midcap index ended slightly lower, while the Smallcap index closed in the green.
Several companies are making headlines today with significant developments and decisions –
- Sona BLW Precision Forgings has opened its Qualified Institutions Placement (QIP) on September 4, with a floor price of Rs 699.01 per share. The company is expected to raise Rs 2,400 crore through this placement. Additionally, Sona BLW received certification under the Production-Linked Incentive (PLI) Scheme for its Hub Wheel Motor designed for electric two-wheelers.
- Reliance Industries is in focus as its Board will meet on September 5 to discuss issuing bonus shares in a 1:1 ratio. The company also secured a project to build a 10 GWh battery storage system under the PLI Scheme.
- PNB Housing Finance will hold a board meeting on September 9 to consider issuing non-convertible debentures (NCDs) worth Rs 2,500 crore on a private placement basis in tranches.
- General Insurance Corporation of India saw the government exercising an oversubscription option in its offer for sale on September 5, after non-retail investors subscribed 1.08 times the base size on September 4.
- Ritco Logistics has announced management changes with Gautam Mukherjee stepping down as CFO. Man Mohan Pal Singh Chadha has been appointed as Whole-Time Director and Interim CFO, while Sanjeev Kumar Elwadhi has been named Managing Director.
- Vedanta received an upgraded rating from ICRA, improving its long-term instrument rating from ‘AA-’ to ‘AA’.
- Century Textiles and Industries issued a corporate guarantee for Hindalco Industries, as its subsidiary Ekamaya Properties acquired a land parcel from Hindalco.
- Suzlon Energy has completed the sale of its corporate office, One Earth Property, for Rs 440 crore, with the property leased back to the company for five years.
- Kalpataru Projects International has converted an outstanding loan to equity in its Brazilian subsidiary, Kalpataru Power Do Brasil Participações S A.
- Exide Industries saw the resignation of Arun Mittal as MD & CEO of its subsidiary Exide Energy Solutions, effective October 31. Mandar V Deo will take over as the new MD & CEO from November 1.
Bulk Deals
- DCW: Baron Emerging Markets Fund bought a 0.52% stake at Rs 88.66 per share.
- Ecos India Mobility and Hospitality: Nomura India Stock Mother Fund, Matthews India Fund, and Plutus Wealth Management LLP collectively acquired stakes worth Rs 205.6 crore.
- Hinduja Global Solutions: Aviator Global Investment Fund sold a 0.64% stake, amounting to Rs 26.62 crore.
- Mastek: ICICI Prudential Mutual Fund and Ghisallo Master Fund LP purchased a 2.36% stake, while Europacific Growth Fund sold a 5.57% stake, totaling Rs 475.6 crore.
- Sicagen India: AMI Holdings acquired a 0.97% stake at Rs 107.25 per share.
Other Highlights
- SME Listing: Travels & Rentals debuts on September 5.
- Ex-Dividend Stocks: BLS International, Gulf Oil Lubricants, Heranba Industries, and more trade ex-dividend.
- Ex-Date for Buyback: Aarti Drugs.
- Ex-Date for Rights: Oriental Trimex.
- Ex-Date for Stock Split: Sapphire Foods India.
