Indian Stock Market News 17th September 2024
1. T V S Holdings Ltd acquired 100% stake in step-down subsidiary, TVS Digital, from TV S Motor Company.
2. Globus Spirits Ltd has rolled out its first single malt whisky called DOAAB India Craft Whisky at the mass luxury frontier of Indian whisky market.
3. PhillipCapital has initiated coverage on Bajaj Housing Finance with ‘BUY’, targeting ₹210, three times its IPO price.
4. Gulshan Kumar Sakhuja resigned as Chief Financial Officer of HEG Ltd on September 18 to seek opportunities outside the organization.
5. Goldman Sachs bought over 7.4 lakh shares in India Shelter Finance Corporation through block deal for around Rs 56 crore.
6. Samvardhana Motherson launches QIP to raise up to $1 billion, with a floor price of Rs 188.85 per share.
7. Goldman Sachs and BofA Securities boost Ola Electric Mobility to ‘Buy’ from ‘sell’ and upgrade, reporting the potential upside would be over 48% and 34% respectively.
8. CARE Ratings upgrades Yes Bank’s Infrastructure Bonds and Tier II Bonds of CARE A+/Stable. Meanwhile, it kept Certificate of Deposit at CARE A1+.
9. UBS lifts Indraprastha Gas Ltd. to Buy from Sell. The price target is raised to 700, and improvement in volume growth as well as prospects of inorganic growth are cited as the reason for this.
10. UBS maintains Buy rating on Mahanagar Gas Ltd, raises target price to ₹2,400 and lifts FY25-27 volume estimates by 7-11%.
11. Sandur Manganese & Iron Ores Ltd gets a nod from its board for raising up to Rs 1,000 crore through QIP.
12. Krishival Foods to acquire a 52.94% stake in Melt N Mellow Foods; will have the later as subsidiary; foray in ice cream and bakery products.
13. Motilal Oswal maintains Buy on Multi Commodity Exchange of India with target price of Rs 6,500
14. Motisons Jewellers to host Board Meeting on September 19, 2024 to consider and adopt a proposal for the sub-division/split of its Equity Shares.
15. Investec initiates coverage on Adani Green with buy rating and target price of Rs 2,515, potential 5x growth in installed capacity by FY30.
16. HDFC Bank is planning a collaborative engagement with a number of fintechs by co-creating tech solutions for many banking services as part of its strategy for growth.
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