Indian Stock Market News 12th September 2024
1. Nazara Technologies purchases 15.86% stake in GetStan Technologies for Rs 18.4 crore as an all-cash deal.
2. State Bank of India and PT Bank KEB Hana Indonesia signed a shareholders agreement for investing in preference shares to achieve the requirement of local shareholding.
3. State Bank of India Closes Rs 10,050.42 crore Loan Agreement for Damodar Valley Corporation’s Koderma Thermal Power Project
4. Delhi High Court has upheld the grounding #Spicejet of three leased engines affecting SpiceJet’s fleet, ordering their return to French lessors.
5. Antique Stock Broking maintains Buy on IEX, with a higher price target of ₹262. Double-digit volume growth and higher EPS estimates for
6. Honasa Consumer to sell up to 10.8% equity in block deal at floor price of *480 per share, which values the transaction at ₹1,680 crore.
7. Ambuja Cements top executive arrested under the Prevention of Corruption Act for bribing an IAS officer in Odisha.
8. Jefferies raises Mahanagar Gas Ltd target price to Rs 2,120, implying 17% upside from the current levels.
9. Honasa Consumer to see a block deal with a sale of 10.9% equity stake valued at Rs 1,763.3 crore, with major sellers like Sequoia Capital and Peak
10. Cholamandalam Investment management expects disbursement growth of 20-25%, thereby driving asset growth on the back of steady asset quality.
11. HSBC sees 15-20% downside risk to Ola Electric’s FY25/26 volume estimates post recent market share loss.
12. Varun Beverages share to turn ex-date for stock split; face value to be split from 5 to 2 from September 12, 2024.
13. Electric vehicle stocks like Ola Electric are likely to be in focus after the Centre approved a new scheme for promotion of electric vehicles.
14. HSBC maintains Buy rating on Kalyan KALYAN Jewellers with increased price target of 810 against earlier ₹600. Strong growth momentum coupled with capital-light expansion strategy could drive long-term growth.
15. Inox Wind’s subsidiary Resco Global Wind Services issued Rs 350 crore through preferential allotment and hence it ceased to be wholly-owned subsidiary of the company.
16. ICICI Securities and IIFL Securities CEMENT have given Buy rating on Star Cement with target at Rs 257.
17. Jefferies has maintained Buy rating on Cholamandalam Investment with increased target price of Rs 1,800 on the back of strong loan growth and operation leverage.
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