As markets gear up for the day, all eyes are on Sensex and Nifty, with positive indications pointing towards a strong opening. GIFT Nifty suggests Nifty could open with gains of around 54 points. With the market sentiment looking positive, these 10 stocks are likely to be in the spotlight today. From corporate deals to mergers and new projects, these companies could see significant action.
Let’s take a closer look at the key stocks making headlines today:
1. ASK Automotive
ASK Automotive could see some movement as its promoter, Kuldeep Singh Rathi, plans to sell a 6.05% stake through an Offer for Sale (OFS). The base issue size is 5.5%, with a greenshoe option of 0.55%. Non-retail investors will have access to the OFS on September 26, followed by retail investors on September 27. The floor price has been set at ₹433 per share.
2. Five Star Business Finance
Sources suggest that Peak XV Partners and other private equity investors may sell up to a 20% stake in Five Star Business Finance through a block deal. The deal, potentially worth around $500 million, could lead to a significant movement in the stock during trading.
3. PB Fintech
PB Fintech, known for its presence in the financial tech space, may be exploring new opportunities in the healthcare sector. Reports indicate that the company is planning to launch its own chain of hospitals, marking a significant expansion into the healthcare ecosystem. This move could boost investor confidence and drive stock action today.
4. Adani Green Energy
Adani Green Energy’s promoter entities, Hibiscus Trade & Investment and Ardor Investment Holding, have purchased a combined 2.96% stake in the company. Hibiscus acquired a 1.27% stake (2.01 crore shares) between July 30 and September 18, 2024, while Ardor bought a 1.69% stake (2.67 crore shares) between September 19 and September 23, 2024. This increase in promoter holdings could give the stock a positive push.
5. Vedanta
Vedanta is set to announce its fourth interim dividend for FY25, with the company’s board scheduled to meet on October 8. The record date for determining shareholder eligibility has been fixed for October 16. Investors may closely watch the stock ahead of the board meeting.
6. SpiceJet
Carlyle Aviation Management has reduced its stake in SpiceJet, selling 1.42% of its holdings through open market transactions between September 17 and September 23, 2024. Carlyle’s stake in the company now stands at 2.34%, down from 3.75%. This news may trigger some movement in SpiceJet shares today.
7. IDFC
A major update from IDFC as the National Company Law Tribunal (NCLT) in Chennai has approved the merger of IDFC Financial Holding with IDFC and the subsequent merger of IDFC with IDFC First Bank. This development could lead to positive market action for IDFC today.
8. KPI Green Energy
KPI Green Energy has secured a Letter of Award (LoA) for the development of a 66.20 MW hybrid power project. This project falls under the company’s Captive Power Producer (CPP) segment, and the announcement may boost investor sentiment, leading to upward movement in its stock.
9. Zaggle Prepaid Ocean Services
Zaggle Prepaid Ocean Services is in the news after its board approved the acquisition of a 98.32% stake in Span Across IT Solutions. The acquisition will involve purchasing 10,66,314 equity shares at a price of ₹300.80 per share, resulting in Span Across becoming a subsidiary of the company. Zaggle also approved an investment of ₹15.6 crore for a 26% ownership stake in Mobileware Technologies, signaling its intention to expand its technological footprint.
10. Coromandel International
Coromandel International has increased its stake in Senegal-based Baobab Mining and Chemicals Corporation (BMCC), acquiring an additional 8.82% to bring its total shareholding to 53.8%. The company will invest $3.84 million in BMCC and provide a loan of $6.5 million to support expansion projects and working capital. This move could strengthen its position in the global fertilizer market and lead to positive market sentiment around its stock.
With the market looking to open strong, these 10 stocks are well-positioned to see significant movement during the trading day. Keep an eye on these companies as they make headlines with important announcements and strategic decisions.
