Stocks To Watch: Rashtriya Chemicals, KEC International, Aditya Birla Fashion, Ashoka Buildcon And More
Here are the stocks to watch before going into trade on Friday.
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Rashtriya Chemicals and Fertilizers Ltd., KEC International Ltd., Aditya Birla Fashion and Retail Ltd., and Ashoka Buildcon Ltd. will be in focus on Friday.
Rashtriya Chemicals' board approved the issue of non-convertible debentures of up to Rs 1,400 crore in one or more tranches through a private placement basis, according to an exchange filing. The company will have to raise the approved funds in the period of the next 12 months, subject to the approval of the shareholders at the annual general meeting.
KEC International Ltd. announced that it has secured new contracts worth Rs 1,423 crore for the design, supply, and installation of 380 kilovolt transmission lines in Saudi Arabia. Officials of the firm said that the orders in Saudi Arabia, along with the earlier orders in the UAE and Oman, have further reinforced their leadership in the Middle East and substantially enhanced their international transmission and distribution order book.
Aditya Birla Fashion and Retail Ltd. will raise funds up to Rs 500 crore through non-convertible debentures. At a meeting on Thursday, the finance committee of the board of directors approved raising of funds by way of issuance of the NCDs, according to an exchange filing.
Ashoka Buildcon Ltd. announced on Thursday that its wholly owned subsidiary, Viva Highways Ltd., has successfully monetised its land in Hinjewadi in Pune. This will bring VHL's real estate portfolio to a total consideration of Rs 453 crore.
India's benchmark indices ended lower on Thursday, dragged down by heavyweights Reliance Industries Ltd. and Bharti Airtel Ltd. The NSE Nifty 50 extended fall for the second day to end 53.60 points or 0.21% lower at 25,145.10, while the S&P BSE Sensex declined for the third straight session to settle 151.48 points or 0.18% down at 82,201.16.
Nifty is expected to find strong support in the 25,000–25,100 range, according to analysts who say it might provide an opportunity for a "buy-on-dips" strategy.
They also say that on the upside, the index could test the 25,500–25,600 levels in the near term.
The key support levels of 25,100–25,000 are likely to act as a cushion for intraday dips,if this range is breached, investors believe it may trigger further downsides. On the higher side, resistance is expected between 25,250 and 25,350.
Here Are The Stocks To Watch On Friday
KEC International: The company received new orders worth Rs 1,423 crore for the supply and installation of 380 kilovolt transmission lines in Saudi Arabia.
Rashtriya Chemicals & Fertilizers: The company approved the issue of secured/unsecured, non-convertible debentures aggregating up to Rs 1,400 crore in the period of the next 12 months through a private placement basis.
Aditya Birla Fashion and Retail: The company will raise funds up to Rs 500 crore through non-convertible debentures. The company also approved the allotment of 5.57 crore shares to shareholders of TCNS Holdings. The company will allot 11 ABFRL shares for every six held in TCNS Holding.
Ashoka Buildcon: The company announced that its wholly-owned subsidiary, Viva Highways Ltd, has successfully monetised its land in Hinjewadi, Pune, for a total value of Rs 453 crore.
L&T Finance: The company has issued 17,500 listed, secured, rated, redeemable non-convertible debentures worth Rs 175 crore to selected investors through a private placement on Sept 5, 2024.
Wipro: The company has been enlisted by JFK International Air Terminal the operator of JFK’s Terminal 4 to help meet its net zero targets.
JSW Energy: The company has received a Rs 55 lakh tax penalty for the financial year 2019-20.
Adani Enterprises: The company approved the early closure of the NCD issue. The issue will now close on Sept. 6 instead of Sept. 17.
Sky Gold: The company approved the issuance of 4.17 lakh fully paid equity shares worth Rs 50 crore. These shares were issued as part of a share swap deal, in exchange for acquiring 100% ownership of Sparkling Chains Private Ltd and Starmangalsutra Private Ltd, rather than for cash.
Matrimony.com: The board approved Rs 72 crore buyback at Rs 1,025 per share.
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