Buzzing Stocks in Focus: The Indian stock market is expected to make a positive start on September 26, as indicated by the GIFT Nifty signals, suggesting a potential rise of approximately 54 points for the Nifty index. Investors are closely monitoring ten specific stocks that are anticipated to witness significant action driven by recent news. These stocks range from established companies like Vedanta and Infosys to KPR Mill.
Key Stocks to Watch Today
1. ASK Automotive
Promoter Kuldeep Singh Rathi is set to sell a 6.05% stake in ASK Automotive via an offer for sale (OFS) scheduled for September 26-27. This offering consists of a base size of 5.5% and an additional greenshoe option of 0.55%. The OFS will open for non-retail investors on September 26, followed by retail investors on September 27, with a floor price established at Rs 433 per share.
2. Five Star Business Finance
Sources from CNBC-TV18 suggest that Peak XV Partners and other private equity investors plan to divest up to 20% of their stakes in Five Star Business Finance through a block deal, potentially valued at around $500 million. This move reflects ongoing interest in the financial services sector.
3. PB Fintech
According to reports, PB Fintech is exploring opportunities in the healthcare sector by establishing its own chain of hospitals. The initiative aims to create new value within the healthcare ecosystem, which could significantly diversify the company’s operations.
4. Adani Green Energy
Recently, promoter entities Hibiscus Trade & Investment and Ardor Investment Holding acquired a combined 2.96% stake in Adani Green Energy. Hibiscus obtained 2.01 crore equity shares (1.27% stake) from July 30 to September 18, while Ardor secured 2.67 crore shares (1.69% stake) from September 19 to September 23, indicating strong investor confidence.
5. Vedanta
Vedanta’s board of directors is scheduled to convene on October 8 to deliberate on a fourth interim dividend for the fiscal year 2025. The record date for determining shareholder eligibility for the dividend has been set for October 16, which may attract interest from dividend-seeking investors.
6. SpiceJet
Carlyle Aviation Management recently sold a 1.42% stake in SpiceJet through open market transactions conducted between September 17 and September 23, reducing its holding from 3.75% to 2.34%. This strategic divestment reflects ongoing adjustments within the aviation industry.
7. IDFC
The National Company Law Tribunal (NCLT) in Chennai has approved the merger of IDFC Financial Holding with IDFC, along with the subsequent merger of IDFC with IDFC First Bank. This approval is a significant step towards consolidating operations and enhancing value for shareholders.
8. KPI Green Energy
KPI Green Energy has received a Letter of Award for the development of a 66.20 MW hybrid power project under its Captive Power Producer (CPP) segment, marking a notable expansion in its renewable energy initiatives.
9. Zaggle Prepaid Ocean Services
Zaggle Prepaid Ocean Services has made headlines by acquiring a remarkable 98.32% stake in Span Across IT Solutions. The Board approved the purchase of 10,66,314 equity shares at Rs 300.80 each, signaling a strategic push into new business areas.
10. Coromandel International
Coromandel International has increased its stake in Senegal-based Baobab Mining and Chemicals Corporation (BMCC) by an additional 8.82%, thus reinforcing its total shareholding to 53.8%. The company plans to invest $3.84 million (about Rs 32 crore) in BMCC and extend a loan of $6.5 million (approximately Rs 54 crore) to support expansion projects and working capital needs.
