Stocks in news: RIL, YES Bank, IREDA, Dixon Tech, Medplus, Genus Power & UCO Bank
Market staus
The Indian benchmark posted modest gains on Tuesday amid the positive global cues. BSE Sensex gained 361.75 points or 0.44 per cent, to end the session at 81,921.29. NSE's Nifty50 advanced 104.70 points, or 0.42 per cent, to close at 25,041.10 for the day. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, September 11, 2024:
Today’s stock market has experienced notable volatility. The CBOE Volatility Index (VIX), often referred to as the “fear gauge,” is currently at 19.45, down from 22.38 the previous market day1. This indicates a decrease in expected market volatility compared to yesterday.
Several factors are contributing to this volatility, including ongoing economic uncertainties and fluctuating investor sentiment. Major indices like the S&P 500 and NASDAQ have seen significant movements, with the S&P 500 down by 1.73% and the NASDAQ by 2.55%2.
Additionally, some stocks have announced dividend hikes despite the market’s fluctuations3. This mixed environment reflects both cautious optimism and underlying concerns among investors.
Corporate actions today: Shares of Andhra Paper will trade ex-split today, while rights issue of Synergy Green Industries will open today. Shares of AGI Greenpac, BCL Industries, GIC of India, Finolex Industries, Subros, TV Today Network, Uttam Sugar Mills and more will trade ex-dividend today.
Reliance Industries: The Mukesh Ambani led conglomerate's Reliance Retail Ventures and Delta Galil Industries have entered a strategic partnership in India. Through the joint venture with Reliance Retail, Delta Galil will expand its presence in India and establish an apparel innovation platform focused on the Indian market.
IREDA: The state-run financial player's wholly owned subsidiary- IREDA Global Green Energy Finance IFSC- has been granted provisional registration as a finance company at Gift City on September 4 by the International Financial Services Centre Authority (IFSCA).
YES Bank: The board of directors of the private lender has approved the appointment of Manish Jain, Country Head - Wholesale Banking, as an Additional Director and Executive Director (Whole-Time Director) for three years.
Dixon Technologies: The Competition Commission of India (CCI) has approved the agreement with Aditya Infotech Limited (AIL) to acquire 6.5 percent of its equity by transferring 95 lakh shares from the JV Company.
Medplus Health Services: Optival Health Solutions, a subsidiary of the pharmacy retail player, has received two suspension orders for drug licenses at its Bangalore stores.
Oil India: The oil production player has signed a memorandum of understanding (MoU) with OVL & KABIL and International Resources Holding RSC Ltd. (IRH), UAE, for global cooperation in critical mineral supply chains.
InterGlobe Aviation: The Bureau of Civil Aviation Security (BCAS) has reduced the Rs 1.2 crore penalty on the budget carrier to Rs 70 lakh following an appeal. The reduced penalty has been paid on September 10, 2024.
Bhageria Industries: The dyes and pigment maker has received a show cause cum demand notice from the Commissioner of CGST, Palghar, alleging a tax demand of Rs 2.09 crore. The company plans to file an appeal before the Commissioner (Appeals) against the order before the due date.
Genus Power: The electrical equipment maker has established two wholly-owned step-down subsidiaries on September 10, 2024. The new subsidiaries are Genus Shekhawati Smart Metering Solutions SPV Private Limited and Genus Marwar Smart Metering Solutions SPV Private Limited.
UCO Bank: The state-run lender's Asset Liability Management Committee (ALCO) has revised the MCLR and TBLR rates, effective September 11, 2024. The new MCLR rates are 8.20 per cent for overnight, 8.40 per cent for one month, 8.55 per cent for three months, 8.85 per cent for six months, and 9.00 per cent for one year.
Ashoka Buildcon: The civil construction company has sold its 90 per cent stake in ABL Indira Projects JV LLP, a joint venture with Indira Projects & Development (Tamil Nadu) Private Limited, for a Maldives project. The stake was sold for Rs 5.44 crore, and payment has been received.
JSW Energy: The office of the Principal Commissioner, CGST and Central Excise, Kolkata, has imposed a penalty of Rs 54.99 lakh on the JSW Group form for allegedly incorrectly availing input tax credit (ITC) during the financial year 2019-20.
Astra Microwave Products: The defence player has signed a Memorandum of Understanding (MoU) with Premier Explosives Limited, Hyderabad, for a strategic alliance to develop and sell multiple products jointly.
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