🔆Good Morning All🔆
💥 Morning Market News & Update💥
💫RITES: Board approves share buyback of up to 96.98 lakh shares or 3.88% of the total equity at Rs 265 per share. The buyback price is a 3.8% premium to Friday's closing price. Record date for the Rs 257 crore buyback is set as September 30.
💫Punjab National Bank: Financial regulator of Kazakhstan has revoked the license of JSC Tengri Bank, where PNB has a 41.64% stake. The license was revoked on account of failure to observe prudential standards and other mandatory norms and limits.
💫Godrej Properties: NCLT allows the petition of amalgamation of Wonder Space Properties with the company.
💫South Indian Bank: Reduces base rate by 10 basis points to 9.75%. MCLR across various tenors too has been cut from September 20. One-Month MCLR now at 7.85% while one-year MCLR at 8.2%.
💫BSE: Arbitration Tribunal declares the termiation of the agreements entered into with Dow Jones as invalid and has ordered that it shall continue to remain in force and effect. The award is being reviewed and shall be dealt with suitably as per advice of the legal counsel.
💫Allcargo Logistics: Sheetal Gulati resigns as CFO from September 18.
💫IGSEC Heavy Engineering: Aditya Puri re-appointed as Managing Director till April 2026.
💫Future Enterprises: Defaulted in payment of commercial papers worth Rs 90 crore, due on September 14.
💫MRPL: Shareholders give nod to raise Rs 5,000 crore through NCDs.
💫Tata Metaliks: One of the blast furnaces and associated facilities in the company's Kharagpur plant is undergoing a planned shutdown for repair and maintenance, including hearth profiling from September 19. The operations are likely to be back on stream in the second half of October.
💫Amber Enterprises: Acquired 20% stake in Sidwal Refrigerations Industries, which has now become a wholly-owned subsidiary of the company.
💫Zydus Wellness: Passes special resolution for approval of issue and allotment of 21.22 lakh equity shares worth Rs 349.9 crore to Zydus Family Trust on a preferential basis. The shares will be alloted at a price of Rs 1,649 per share, a 13.3% discount to Friday's closing price. The company has also passed a special resolution to approve fund raising activities and issuance of securities worth Rs 750 crore through public or private offerings.
💫IRCTC: To start 20 pairs of clone special trains from September 21 on specific routes.
💫Reliance Home Finance: National Housing Bank imposes a penalty of Rs 20,000 for contravention of certain provisions of Housing Finance companies.
💫Route Mobile: To list on the bourses today.
💫CAMS: IPO opens for subscription today. The company has raised Rs 666 crore from anchor investors ahead of the IPO.
💫Chemcon Speciality Chemicals: Anchor allotment of 28.06 lakh shares at Rs 340 per share worth Rs 95.4 crore. The IPO opens for subscription today.
💫Dish TV: Promoter World Crest Advisors invoked pledge on 98.13 lakh shares between September 14-15. #NIFTY50#NIFTYBANK