Adani Group, Dish TV, Natco Pharma, Bombay Dyeing, CEAT stocks in focus on 20 September

Adani Group, Dish TV, Natco Pharma, Bombay Dyeing, CEAT stocks in focus on 20 September

Indian benchmark indices BSE Sensex, NSE Nifty 50 are likely to open higher on Tuesday, hinted SGX Nifty. The Nifty futures traded 120 pts or 0.7 per cent higher on the Singapore Exchange, signalling that domestic equity markets were headed for a positive start. “We expect choppiness to continue amid the feeble global cues so it’s prudent to place positions on both sides. Banking and financials are doing well on the expected lines and we’re seeing selective buying in auto and FMCG also on dips. On the flip side, mostly stocks from the IT and pharma space trading with a negative bias. Participants should align their positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking.Stocks in focus on 20 September, Tuesday

Adani Group: Adani Group, which last week completed its $6.5-billion acquisition of Swiss major Holcim’s India assets – Ambuja Cements and ACC, plans to double its cement manufacturing capacity to 140 million tonne in the next five years and emerge as the most profitable manufacturer in the country. In a speech made at an event to mark the completion of the acquisition, Adani Group chairman Gautam Adani said he saw a multifold rise in cement demand in the country on the back of record-breaking economic growth and the government’s infrastructure creation push, which will give significant margin expansion.

Adani Enterprises: Adani Group’s flagship company Adani Enterprises on Monday raised Rs 100 crore by allotment of non-convertible debentures on a private placement basis. Adani Enterprises shares witnessed positive sentiment today and the shares climbed by nearly 3%. The said MLD will be listed on the Wholesale Debt Market segment of BSE. The debentures have a face value of ₹10 lakh each.

Dish TV: Satellite service provider Dish TV India’s chairman Jawahar Lal Goel has resigned as a director effective Monday, weeks after he had expressed his unwillingness to seek reappointment. Goel has resigned from the company’s board of directors and committees. Consequently, he ceases to be the chairman of the board. His resignation comes ahead of the company’s annual general meeting (AGM) on September 26, when Goel was slated to step down from the board.

Bombay Dyeing and Manufacturing Company: The company said the board of directors on September 22 will consider a proposal of raising of funds by issue of equity shares on rights basis.

TV18 Broadcast: Fair-trade regulator Competition Commission of India (CCI) on Monday approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In a tweet, CCI said it has approved amalgamation of the Jio Cinema OTT platform with Viacom18 Media. In April, Reliance and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India.

Ceat: The company said the Board of Directors has allotted non-convertible debentures (NCDs) on a private placement basis aggregating to Rs 150 crore.

Also Read: Harsha Engineers IPO share allotment: Check grey market premium, status via BSE, registrar; listing on 26 Sep

Natco Pharma: The pharma company is allowed to launch Chlorantraniliprole (CTPR) and its formulations, through its non-infringing process. It has received order from the Delhi High Court to launch the same. CTPR technical is formulated into broadspectrum insecticides used across wide range of crops for pest management. The company estimates the current market size of CTPR containing products in India to be over Rs 2,000 crore.