Indian benchmark indices BSE Sensex and NSE Nifty 50 are expected to open higher on Thursday, weekly & monthly F&O expiry. SGX Nifty was up in green ahead of the session hinting at a positive start for the Indian share market. “Markets are not seeing any relief citing feeble global cues and a breakdown of 16,800 in Nifty could further dampen the sentiment. Meanwhile, oversold positions in select index majors may result in a marginal bounce in between. We reiterate our view to focus more on risk management and prefer defensive,” said Ajit Mishra, VP – Research, Religare Broking.
Stocks in focus on 29 September, Thursday
Nykaa: FSN E-Commerce Ventures, Nykaa’s parent company, on Wednesday informed the stock exchanges in a regulatory filing that a meeting of its board of directors is scheduled for 3 October to consider and approve the issuance of bonus shares to shareholders. The board may seek the shareholders’ approval by way of a postal ballot and other approvals for the share issue.
Hindustan Copper: The company on Wednesday announced the highest-ever dividend per share at 30.01% of the net profit in FY22 with a net profit of Rs 373.78 crore, a 338% jump over the previous year’s net profit of Rs 109.98 crore. The total payout on account of the dividend would be Rs 112.17 crore.
Godrej Properties: The company has acquired a 7-acre land parcel in Bengaluru for development of a premium housing project that has an estimated Rs 750 crore revenue potential. It did not disclose the price at which the land has been acquired. The name of the seller was also not mentioned. In a regulatory filing, Godrej Properties said it has acquired a land parcel that is strategically located in the immediate vicinity of Indiranagar, Bengaluru.
Gensol Engineering: The company said the board has approved the preferential allotment of 12,81,993 equity shares at an issue price of Rs 1,036.25 per share. With this, it has raised Rs 132.84 crore via preferential issue.
Blue Dart Express: The company has announced an average shipment price increase of 9.6 percent for 2023 as compared to 2022. The general price increase will be effective from January 1, 2023.
Dish TV: The company’s board approved the transfer of its entire stake in Dish TV Lanka to Union International for 25 million Sri Lankan rupees (Rs 55.84 lakh). Following the transaction, Dish TV Lanka will stop to be a subsidiary of the company.
Supriya Lifescience: The company has received Certification of Suitability (CEP) for Diphenhydramine hydrochloride, API in anti-histamine therapy, from European Directorate for the Quality of Medicines and HealthCare (EDQM). This will be an added advantage for Supriya Lifescience in the European market. Global demand for Diphenhydramine Hydrochloride is 1850 tons, of which major demand is in the regulated markets.