2 hrs ago

Indian Stocks in Focus as SAIL, Power Grid Announce Moves

Top stocks in focus today: Investors must watch Power Grid, Cupid, SAIL shares on Monday, 28 Sept · livemint.com

Indian stock markets were expected to start quietly or slightly lower on Monday, 28 September.

GIFT Nifty pointed to a subdued opening.

Investors were watching companies because of new business announcements and fundraising plans.

SAIL and Bharat Coking Coal agreed to work together on two coal blocks in West Bengal.

Power Grid received approval to raise up to ₹10,000 crore from State Bank of India.

Rashtriya Chemicals and Fertilizers gave Larsen & Toubro a large contract to improve an ammonia plant.

Cupid approved converting warrants into shares of Baazar Style Retail.

Investors were also concerned about geopolitical tensions and higher crude oil prices.

Key facts

Market indicator: GIFT Nifty was around 23,161.50, down nearly 25.20 points from the previous Nifty futures close.
Power Grid fundraising: The board approved raising up to ₹10,000 crore through an unsecured rupee term loan or line of credit from State Bank of India.
SAIL-BCCL agreement: The companies signed an MoU to jointly develop and operate two coal blocks in West Bengal.
RCF contract: Rashtriya Chemicals and Fertilizers awarded Larsen & Toubro a ₹797 crore purchase order, excluding taxes.
Wheels India QIP: Wheels India allotted 11.97 lakh shares at ₹2,088 each after completing its qualified institutional placement.
CleanMax block deal: Augment India Holdings was reportedly seeking to sell 85 lakh shares, or a 7.25% stake, in Clean Max Enviro Energy Solutions for an estimated ₹1,062.8 crore.
Cupid warrant conversion: Cupid approved conversion of up to 30 lakh warrants into an equal number of Baazar Style Retail equity shares, in one or more tranches.

livemint.com · 2 hrs ago