Stocks to watch today: Shares of firms like SBI, Route Mobile J&K Bank, Tata Steel, and others will be in focus in Wednesday’s trade
Nifty futures on the Singapore Exchange traded 160.5 points, or 1.01 per cent, lower at 15,681.50, signaling that Dalal Street was headed for a gap-down start on Wednesday. The recovery in last hour of trade helped the market close with moderate gains in the last session, backed by auto, metal, IT, select FMCG stocks and Reliance Industries. However, the gains were limited due to selling in private banking and financial services. Positive global cues also supported the market. The BSE Sensex rose 16 points to 53,177, while the Nifty50 climbed 18 points to 15,850.
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Route Mobile
The company said the board has approved the proposal of buyback of equity shares of the company up to Rs 120 crore at a price of up to Rs 1,700 per share. With this, the size of maximum buyback shares would be 7.05 lakh equity shares, which is 1.12 per cent of paid-up equity.
Tata Steel
Tata Steel Chairman N Chandrasekaran on Tuesday said the company, after completing acquisition, will boost the operation of Neelachal Ispat Nigam Ltd to rated capacity of 1.1 million tonne per annum within the next one year.
Ruchi Soya
Edible oil firm Ruchi Soya Industries Ltd on Tuesday said the name of the company has been changed to Patanjali Foods Ltd with effect from June 24. In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya for Rs 4,350 crore through an insolvency process.
Orient Bell
The company announced on-time completion of two of projects involving capex of Rs 20 crore. GVT Tile plant capacity in Sikandrabad (UP) has increased by 0.7 million square metres (MSM) per annum and there was a conversion of Dora plant (Gujarat) from ceramic floor to vitrified floor with incremental volume potential being around 1.2 MSM per annum.
State Bank of India
The country’s largest lender has entered into an agreement for investment of Rs 4 crore in equity shares of Perfios Account Aggregation Services Private Limited, the NBFC-account aggregator. This investment would be subject to RBI approval. SBI will hold 9.54 percent stake in Perfios Account Aggregation Services.
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Hazoor Multi Projects
The company has received work order from Nagpur Mumbai Super Communication Expressway Ltd for execution of change of scope work in district Ahmednagar of package-11 on EPC mode for Rs 14.11 crore.
Jammu & Kashmir Bank
The bank said the board has approved raising of equity capital upto Rs 500 crore in one or more tranches, and another Rs 1,500 crore through debentures on a private placement basis.
Godawari Power & Ispat
The company has acquired 37.79 lakh equity shares of Alok Ferro Alloys (AFAL) at a fair value comprising of 78.96 percent of the paid-up capital of AFAL. AFAL is into ferro alloys with captive power generation, having operations in Raipur, Chhattisgarh only.
Shri Bajrang Alliance
The company has signed a contract with LULU Group International LLC, Abu Dhabi for supply of GOELD frozen food items in Middle East Markets (UAE, KSA etc.) and also through their Indian network. The purchase orders for the first 2 lots have been received.
