CASH STOCKS TO TRADE ON

 Here are the stocks to watch in trade today:

Va Tech Wabag: Board has approved issuance of up to 75 lakh shares on a preferential basis at Rs 160 per share aggregating to Rs 120 crore. Rekha Rakesh Jhunjhunwala will be issued up to 50 lakh shares on preferential basis while the remaining 25 lakh shares will be issued amongst Basera Home Finance, Sushma Anand Jain and Anand Jaikumar Jain. Board also revised the enabling fund raising proposal from Rs 400 crores to Rs 280 crore. Issue price is at a discount of 30% to the closing prices as on Aug.25.

Punjab National Bank recovered Rs 24 crore in the Nirav Modi case. On liquidation of the Nirav Modi’s assets by the US Chapter 11 Trustee, Rs 82.66 crore has been made available for distribution to unsecured creditors, including PNB. Further recovery is subject to other expenses and settlement of claims of other claimants. This is a maiden repatriation of $3.2 million (Rs 24 crore) for the Indian government in its fight against corporate fraud in an overseas territory.

TCS S&P has revised long term issuer credit ratings of TCS to stable from positive, affirms ‘A’ Rating. Tata Consultancy Services is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology spending. The ratings agency anticipates pricing pressures on new contracts and renewals because of the lower spending ability of clients in a highly competitive market.

Hindustan Oil Exploration: Malaysia tribunal has upheld certain claims by claimant Hardy Exploration & Production in an arbitration case. The claimant has sought to enforce the award through a petition before the Gujarat High Court and the financial implication is Rs 10 crore. Company will be contesting the case in appropriate legal forums both in India and in Malaysia.

JMC Projects received new infra order worth Rs 554 crore in the building and factory segment. Company has won orders of Rs 4000 crore till date in fiscal 2021.

Indiabulls Ventures to consider raising preferential issue to foreign investors on Aug.28

FDC has launched two variants of drug, Favipiravir – PiFLU and Favenza – which will be used to treat mild to moderate cases of COVID-19.

SeQuent Scientific: Dr. Kamal K Sharma and Mr. Milind Sarwate appointed on the board as independent directors. Dr. Kamal K Sharma will also be the chairman of the company as Dr. Gopakumar G. Nair has stepped down from the afore-mentioned post. Nominee directors from Carlyle Group Neeraj Bharadwaj and Rahul Mukim have joined the board.

SBI Trustee has acquired 7.99% stake in UFO Moviez due to encumbrance (pledge) of shares on Aug.22

Acrysil to expand capacity for quartz kitchen sinks by 20% to 6 lakh units per annum at its Gujarat plant to meet increasing demand from the export market. Total capes is Rs 15 crore to be funded by internal accruals and will be commissioned by March 2021.

GOCL Corporation: Promoter Hinduja Capital plans to reduce stake from 74.93% to 73.83% via open market sale, to comply with FDI norms.

Bank of Maharashtra allotted 73.6 crore shares at Rs 11.29 per share on a preferential basis the Government of India aggregating to Rs 831 crore. Government’s holding in the Bank has increased from 92.49% to 93.33%.

Birla Tyres to consider raising Rs 1,100 crore via debt or equity on Aug.28.

Procter Gamble Hygiene and Health Care has appointed CR Dua as the chairperson of the board with effect from Sept.24.

J&K Bank to consider raising Rs 4,500 crore during fiscal 2021, on Aug.28.