Buzzing stocks: GVK Power & Infra jumps, Axis Bank slips, Gujarat Alkalies up

India Infoline News Service | Mumbai | September 19, 201615:08 IST

Check out the most important and latest stock news from NSE and BSE.

Stock Exchange
GVK Power & Infrastructure Ltd is currently trading at Rs. 6.93, up by Rs. 0.42 or 6.45% from its previous closing of Rs. 6.51 on the BSE.

Mumbai International Airport Private Limited (MIAL), a subsidiary of GVK Power Infrastructure & Ltd Company entered into a Slum Rehabilitation Agreement with Housing Development & Infrastructure Limited for implementation of the slum rehabilitation project at Chhatrapati Shivaji International Airport in a time bound manner for the consideration and on the terms and conditions contained therein. Due to disputes between the MIAL and HDIL (Parties), the agreement was terminated by MIAL on 06-02-2013.

United Breweries (Holdings) Ltd hit 20% upper circuit on the BSE. Vijay Mallya remains in “full control” even after relocating to the UK, his UB Group’s holding firm United Breweries Holdings Ltd (UBHL) has said while disclosing remuneration totalling Rs. 1.6 crore, as per media reports.

Castrol India Ltd is currently trading at Rs. 425.05, down by Rs. 17.1 or 3.87% from its previous closing of Rs. 442.15 on the BSE.

Hindustan Foods Ltd is currently trading at Rs. 106.4, down by Rs. 5.6 or 5% from its previous closing of Rs. 112 on the BSE.

Cox and Kings
zoomed 2% to Rs.233.75 on the BSE. According to TV reports, 15.7 lakh shares have changed hands in a single block deal.

Unitech is trading marginally down at Rs 6.43. The company has sold 2 million square feet of area amounting to Rs.362 crore during the quarter ended June 30, compared with the year-ago period, on account of higher volumes in the commercial segment. The company had sold 0.23 million square feet area for Rs. 178 crore in the corresponding period of the previous financial year.

NHC Foods Ltd slipped 3.2% on the BSE. The company announced that Malaysia based MAP Enterprises picked up a stake. MAP Enterprises has been the NHC’s overseas partner for the last two decades.

Vipul climbed 7.3% to Rs 80.25. The company has received Environmental Clearance from State Environment Impact Assessment Authority, Haryana for its project ‘Aarohan’ on Golf Course Road in Gurgaon. By June 2016, the company had already sold more than 26 per cent of flats in Phase 1 of the project. Further, the company had raised debt from DMI Finance (DMI) to the tune of Rs.175 crore.

Motherson Sumi Systems gained 0.69%. The company has raised Rs 1,993.44 crore through issuance of 62,884,827 shares to qualified institutional buyers (QIBs). The company’s qualified institutional placement (QIP) issue opened on September 8 and closed on September 13 for receiving applications from investors. For the QIP, 62,884,827 shares were issued to qualified institutional buyers at an issue price of Rs 317 after giving a discount of 2.79 per cent.

Axis Bank slipped 1% to Rs.597. Axis Bank has signed a Share Purchase Agreement with IFCI for acquistion of 73,28,334 equity shares (13.67% of total outstanding shares) of face value of Rs.10 per share in Assets Care and Resconstruction Enterprise Ltd (ACRE) from IFCI at Rs.31 per share, resulting in a total cash consideration of Rs.22.72 crore. The above transaction is subject to requisite regulatory approvals, including from RBI.

Karur Vysya Bank gained 1.9%. The board of directors of private sector Karur Vysya Bank will meet on Monday to consider a stock split. The board will consider the feasibility of sub-division of equity shares

Sharp India Ltd is currently trading at Rs. 67.7, up by Rs. 10.7 or 18.77% from its previous closing of Rs. 57 on the BSE. The Board of Directors of the Company will be held on September 28, to constitute the Committee of Independent Directors of the Company to provide the reasoned recommendations on the mandatory open offer made by Sharp Corporation, Japan and the persons acting in concert with them to the public shareholders for acquisition of their shares.

Gujarat Alkalies & Chemicals Ltd is currently trading at Rs. 332.2, up by Rs. 7.4 or 2.28% from its previous closing of Rs. 324.8 on the BSE. The company has signed an agreement with Chematur Engineering AB, Sweden and with IBI Chematur for procuring detailed engineering and project management services for the establishment of 14000 MTPA Hydrogen Peroxide Plant at Dahej.

South Indian Bank is trading down 0.21%. RBI has restricted overseas investors to make further investment in South Indian Bank as the prescribed foreign shareholding limit has reached the trigger limit.

ICICI Bank advanced 1.3% to Rs.271.10 on the BSE.

Heritage Foods rallied 5.5%. Future Group is in advanced talks to acquire the retail business of Heritage Foods, a deal that will give Kishore Biyani sway over a network of more than 100 grocery outlets in Hyderabad, Chennai and Bengaluru, as per media reports.

***Note: This is a NSE Chart



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