Business News Desk, Sensex and Nifty are expected to open almost flat today on 3rd September. According to the indications from GIFT Nifty, the Nifty index may start trading today with a slight decline of 4 points. Meanwhile, let’s take a look at those 10 stocks, which can see the most movement on the basis of news during today’s trading. These stocks include Medi Assist to Hindustan Aeronautics and Gensol Engineering.
1. Medi Assist Healthcare Services
A big block deal of Rs 540 crore can happen in the company’s shares today. In this deal, shares are likely to be sold by the promoter Bessemer India Capital Holdings II Limited. The shares can be sold at Rs 570 per share, which is about 7 percent discount from its current market price.
2. Adani Green Energy
The company’s board has approved the execution of binding documents between Adani Renewable Energy Sixty Four (ARE64L) and TotalEnergies Renewables Singapore Pte. TotalEnergies will invest an additional $444 million to form a new 50:50 joint venture company with Adani Green Energy. The new joint venture will have a portfolio of 1,150 MW capacity.
3. Hindustan Aeronautics
The Cabinet Committee on Security has approved a proposal to buy 240 aero-engines (AL-31FP) for the Indian Air Force’s Su-30MKI aircraft from the company. The cost of this purchase is more than Rs 26,000 crore.
4. Muthoot Finance
Its subsidiary Belstar Microfinance has received approval from market regulator SEBI to launch its IPO. Belstar plans to raise Rs 1,000 crore through a fresh issue and Rs 300 crore through an offer-for-sale.
5. Gensol Engineering
Gensol and Matrix Gas & Renewables emerged as the lowest bidders for the EPC contract to develop a bio-hydrogen project for India’s leading power generation company. Through this project, the companies will convert 25 tonnes of bio-waste into 1 tonne of hydrogen per day. The project is valued at Rs 164 crore.
6. Lemon Tree Hotels
The company has signed a license agreement for an 80-room hotel property in Gir, Gujarat. The property will be managed by its subsidiary Carnation Hotels and is expected to open in FY30.
7. Matrimony.com
The board will meet on September 5 to discuss the proposal to buy back the company’s shares.
8. Maruti Suzuki India
The company’s total production in August increased by 2.1% to 1.69 lakh units as against 1.65 lakh units in the same period last year.
8. Welspun Corp
The board has approved an investment of $100 million by the company’s subsidiary Welspun Pipes Inc. to upgrade its HFIW (high-frequency induction welding) pipes manufacturing and coating capacity in the US. The investment will be raised through domestic debt and internal accruals and will be completed in 18 months.
10. Hindustan Composites
The company has entered into a share purchase agreement with Swiggy to acquire 1.5 lakh equity shares of the company at Rs 1 per share by investing Rs 5.175 crore.
