Business News Desk – Today, on 24 September, Sensex and Nifty are expected to open with gains. According to the signals received from GIFT Nifty, the Nifty index can start trading today with a gain of about 57 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 Punjab National Bank, Coal India and Reliance Power.
1. Punjab National Bank (PNB)
The bank opened its qualified institutions placement (QIP) issue on September 23 with a floor price of Rs 109.16 per share. According to sources, the base size of the QIP is Rs 2,500 crore with a green shoe option of Rs 2,500 crore.
2. Coal India
The state-run company has signed a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to set up a 2×800 MW brownfield thermal power project at RRUVNL’s existing Kalisindh thermal power station. Coal India will hold 74% stake in the joint venture while the remaining 26% will be held by RRVUNL.
3. Reliance Industries, ONGC, Vedanta, Oil India
In India’s biggest oil and gas bidding round, four bidders, including state-owned ONGC and Oil India and Vedanta, received only two bids each for most blocks. In the OALP-IX bidding round, where 28 blocks were offered for oil and gas exploration, Reliance Industries Ltd-BP Plc, in association with ONGC, bid for the first time for a block in the Gujarat offshore. ONGC bid independently for 14 blocks and in partnership with Oil India and Indian Oil Corporation for four additional blocks. Vedanta submitted bids for all the 28 blocks on offer.
4. Pondy Oxides & Chemicals
The company plans to raise up to Rs 250 crore through Qualified Institutions Placement (QIP) in one or more tranches.
5. Thangamayil Jewelery
The company’s board will meet on September 26 to consider raising funds by issuing equity shares or bonds.
6. Firstsource Solutions
Firstsource Solutions UK, a subsidiary of RP-Sanjiv Goenka Group company, has entered into a share purchase agreement to acquire 100% ownership of Ascensos, UK for £42 million.
7. Power Grid Corporation of India
The company has received an order to set up an inter-state transmission system in Gujarat. The company won the order by quoting the lowest bid. The project involves the installation of STATCOM at Khavda Pooling Station 1 and Khavda Pooling Station 3 in Gujarat along with associated bay expansion works.
8. GR Infraprojects
The company has received an order worth Rs 903.53 crore from Maharashtra Metro Rail Corporation, Nagpur. The company has won this order by quoting the lowest bid. The project involves the design and construction of an elevated metro viaduct.
9. AstraZeneca Pharma
The company has received approval from the Central Drugs Standard Control Organisation of the Directorate General of Health Services, Government of India for the import, sale and distribution of Durvalumab Solution for Infusion (Imfinzi). The drug Durvalumab is used to treat adults suffering from bile duct cancer (BTC).
10. Reliance Power
The board has approved the issuance of up to 46.2 crore equity shares and/or warrants convertible into equity shares at a price of Rs 33 per share, aggregating to Rs 1,524.60 crore, by way of preferential allotment.
