Indian Stock Market News 18th September 2024
1. Citi continues a sell rating on LTIMindtree at ₹5,635, citing sustained margin pressure and growth that remains a bit modest.
2. Macquarie has outperformed the target price of TCS at ₹5,740, which believes that the company’s growth is more likely than Infosys in FY26 and FY27.
3. CLSA has continued underperform on Bajaj Auto believing that the stock is likely to slide down to ₹7,000 mainly due to competition and export pressures.
4. Inox Wind received Letter of Intent from IGREL Renewables for its 550 MW wind project. This takes the order book of the company to over 3.5GW.
5. Kotak Institutional Equities initiates coverage on Emcure Pharmaceuticals with an Add rating and a target price of ₹1,655.
6. GR Infraprojects has transferred wholly-owned subsidiary GR Aligarh Kanpur Highway to Bharat Highways InvIT for Rs 98.60 crore.
7. Satin Creditcare Network Ltd will deliberate the proposal to raise funds from issuance of non-convertible debentures through private placement on September 20.
8. Vakrangee to consider proposal for fund raising, which has now partnered with Star Health Insurance for health products on September 24.
9. Network18 Media & Investments gets a three-month extension to hold its AGM in plan to merge with The Walt Disney Co India.
10. Tata Motors has joined hands with Spinny to sell and exchange old electric vehicles through used models of the Nexon.
11. Hindalco Industries is entering solar modules with a greenfield facility at Mundra in Gujarat, making it enter parts related to green energy for the first time
12. RBI clears variable remuneration for MD & CEO for FY24 and fixed remuneration for FY25 after AGM shareholder approval.
13. Ties up with Spinny for trading in used electric vehicles, starting with Tata Nexons.
14. AB SKF to carve out global automotive business, list on Nasdaq Stockholm Exchange H1 2026.
15. Managing Director & CEO gets variable remuneration cleared for FY24 along with fixed pay for FY25 after approval by the AGM shareholders.
16. Reliance Infrastructure has reached one-time settlement with Edelweiss Asset Reconstruction Company for settling the company’s non-convertible debentures for Rs 385 crore.
17. Board of Mankind Pharma to meet on September 24 to consider fund raising through issue of securities including non-convertible debentures and commercial papers.
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