Stocks to Watch: Key Developments on September 12, 2024
On September 12, 2024, several stocks gained attention due to key announcements and developments in the market. The Nifty index saw a rise of 1.89%, closing at 24,918.45, while the Sensex gained 1.77%, ending the day at 81,523.16.
Stocks on the Rise
- Nazara Tech: Announced an investment of ₹982 crore in Moonshine Tech (PokerBaazi) through a cash and share swap deal.
- Tata Power: Signed a Memorandum of Understanding (MoU) with TAMO to set up 200 fast-charging stations for electric commercial vehicles across five major metros.
- Power Grid: Declared as the successful bidder to establish an inter-state transmission system in Gujarat.
- Muthoot & Manappuram: Benefiting from the rise in gold prices, which hit an all-time high of $2,563/oz.
- Intellect Design: Launched its new eMACH.ai platform for Sri Lanka’s finance sector.
- BLS International: Acquired a UAE citizenship venture for $31 million.
- Puravankara: Secured redevelopment rights for a 2,000 sq m plot at Breach Candy, Mumbai.
- BPCL: Formed joint ventures for green hydrogen and compressed biogas, and announced plans to increase the capacity of the Cochin pipeline.
- HG Infra: Bagged an order worth ₹716 crore from Central Railway.
Stocks Facing Pressure
- Patanjali: Sources reveal that promoters are set to sell a 3.1% equity stake via block deals, with a floor price of ₹1,815 per share.
- Honasa: In yesterday’s block deals, Peak XV and Sequoia Capital were sellers, while MS Asia and ICICI Prudential were among the buyers.
- PNB Housing: Asia Opportunities V was the seller in yesterday’s block deals, with the Singapore government among the key buyers.
These updates reflect the dynamic movements in the stock market, offering insights into key sectors and companies that are making headlines.
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Stock Market