Indian equity markets paused after a 14-day winning streak, closing lower on Wednesday due to weak global cues. Several stocks will be in focus today, including GIC Re, RIL, Vedanta, Sona BLW, PNB Housing Finance, and Suzlon Energy, because of important news developments.
Stocks in Focus:
GIC Re: The government is selling an additional 3.39% stake in GIC Re, increasing the total stake sale under the OFS to 6.78%.
Vedanta: Vedanta expects its display glass business to grow 10 times after consolidating its stake in AvanStrate Inc.
Sona BLW Precision: Sona BLW, an auto parts maker, plans to raise up to ₹2,400 crore via a qualified institutions placement, setting a floor price of ₹699 per share.
PNB Housing Finance: PNB Housing is considering raising ₹2,500 crore through non-convertible debentures on September 9.
Suzlon Energy: Suzlon has signed a deal to sell its One Earth property for ₹440 crore to OE Business Park.
Ritco Logistics: Gautam Mukherjee has resigned as CFO, and Sanjeev Kumar Elwadhi has been appointed MD for a 5-year term starting September 4.
Exide Industries: Arun Mittal has resigned as MD and CEO of Exide’s subsidiary EESL, effective October 31, 2024.
Reliance Industries (RIL): RIL has secured ₹3,620 crore in incentives for producing advanced chemistry cell (ACC) batteries.
These companies are expected to attract attention in today’s market due to these significant updates.
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