IRCTC, Ceat, Sugar Stocks, GAIL, Oil stocks and others

The market rebounded with gains of 0.5% on September 19, after losing 3% in the previous three trading sessions, as traders await the Federal Reserve’s interest rate decision, which is due come in the middle of this week. The BSE Sensex rallied 300 points to 59,141, while the Nifty50 climbed 92 points to 17,622.

Stocks in the news

Adani Enterprises

The company has raised Rs 100 crore by allocating 1,000 non-convertible debentures with a face value of Rs 10 lakh each on a private placement basis. Said MLD will be listed on the BSE Wholesale Debt Market segment.

IRCTC

Indian Railway Catering and Tourism Corporation (IRCTC) can now apply for a payment aggregator license from the Reserve Bank of India (RBI) and if approved can enter the payment space with one of the largest Country back-end databases of over 100 million users.

Mahindra & Mahindra (M&M)

The launch of M&M’s first electric SUV – SUV-XUV400 – on September 8 has generated great excitement. With the launch, M&M entered the competition in the new e-SUV segment, which also includes Tata Nexon EV (87% market share in FY22). The future course of M&M’s stock price will largely depend on the response to its EV, when bookings open in January 2023.

Sugar stocks

Maharashtra, India’s top sugar-producing state, is expected to hit record highs for the second consecutive year as farmers expanded the area under cane cultivation. Higher production will weigh on local prices and could prompt New Delhi to allow sugar exports in the 2022/23 marketing year from October 1.

India

The company bought several LNG shipments to be delivered between October and November at more than double the price it paid this time last year after vital Russian deliveries were canceled. The New Delhi-based company is struggling to replace supply from Gazprom’s former trading arm PJSC, which was nationalized by Germany earlier this year and is paying contract fines rather than delivering fuel.

Oil stocks

The Ministry of Petroleum has called for a review of the two-and-a-half-month windfall tax on locally produced crude oil, saying it goes against the principle of fiscal stability provided for in research and development contracts. oil production.

Capital of Ugro

The company said the board would consider raising funds through the issuance of non-convertible debentures in a private placement on Sept. 22.

Natco Pharma

The pharmaceutical company is authorized to launch chlorantraniliprole (CTPR) and its formulations, thanks to its non-infringing process. He received an order from the Delhi High Court to initiate the same. Technical CTPR is formulated into broad-spectrum insecticides used in a wide range of crops for pest control. Natco estimates that the current market size of CTPR-containing products in India is over Rs 2,000 crore.

Ceat

The company said the board had awarded non-convertible debentures (NCDs) based on a private placement totaling Rs 150 crore.

Future Supply Chain Solutions

The company canceled a proposal to sell or divest the warehouse assets and decided to explore other opportunities to rehabilitate business operations.

Ircon International

The stock will be the focus of attention as the company has been awarded a work order for detailed engineering services and project management consultancy for the development of railway infrastructure for Ananta OCP from Jagannath region to Talcher, of Mahanadi Coalfields. The total value of the order is Rs 256 crore.

Appliances Butterfly Gandhimathi

Promoter Crompton Greaves Consumer Electricals is to sell 10.72 lakh shares or a 6% stake in the subsidiary via a sell offer on September 20-21. The floor price for the sale will be 1,370 rupees per share.

Bombay Dyeing and Manufacturing Company

The company said the Sept. 22 board would consider a proposal to raise funds by issuing shares.

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Rachel J. Bradford