Overnight Digest: Stocks to look out for on July 9
Overnight Digest: Stocks to look out for on July 9
As the Sensex fell by 793 points and Nifty settled below the 11,600 level, the stocks to watch out on July 9 include Voltas, BASF India, Eris Lifesciences, Reliance Industries, Mindtree and Punjab National Bank.
Voltas: The company has partnered with EESL (Energy Efficiency Services Limited) to manufacture super energy-efficient air conditioners.
BASF India Limited: As a strategy to manage its portfoilio, BASF India has entered into an agreement with Archroma India Private Limited, a member of the Archroma Group, to divest the company’s Stilbene-based optical brightening agents business for an approximate consideration of Rs. 33.50 crore.
Eris Lifesciences: Through a tender offer, the company has issued a buyback offer of up to 1,739,130 equity shares of face value of Re. 1 each fully paid up at a price of Rs. 575 per equity share.
Reliance Industries Limited (RIL): RIL has joined hands with a Turkish company, Kivanc Tekstil, to create sustainable and innovative fabrics.
Mindtree: After the hostile acquisition by L&T, which now has a controlling stake in the company, the top management officers have resigned.
Punjab National Bank (PNB): PNB has reported a fraud of Rs. 3,805 crore by Bhushan Power & Steel Ltd.