Stocks of the company will be in focus as the JK Group on Sunday said that it will acquire BK Birla flagship firm Kesoram Industries’ tyre manufacturing plant at Haridwar for up to Rs 2,200 crore. (PTI)
The BSE Sensex and NSE Nifty were trading flat in early trade on Monday ahead of inflation data to be released later in the day. At 9.24 am, Sensex was up 32.61 points at 25,642.82. Similarly, Nifty was up 5.50 points at 7,794.80 during the same time.
Below are the stocks that are likely to be in focus today:
JK Tyre Ltd: Stocks of the company will be in focus as the JK Group on Sunday said that it will acquire BK Birla flagship firm Kesoram Industries’ tyre manufacturing plant at Haridwar for up to Rs 2,200 crore. JK Tyre and JK Asia Pacific Singapore Pte Ltd, a wholly-owned subsidiary of the company, have signed a binding term sheet with Kesoram Industries Ltd (KIL) to acquire 100 per cent equity in Cavendish Industries Ltd (CIL).
Oil India Ltd: The company has received approval from the Ministry of Environment and Forest for drilling 20 wells in three blocks in Jaisalmer, Rajasthan for production of 1 mmscmd gas at an estimated cost of Rs 96 crore.
Amtek Auto: According to reports, Amtek Auto plans to raise about Rs 6,500 crore by selling assets. The proceeds will go towards reducing the company’s debt of about Rs 15,000 crore.
Indiabulls Housing Finance Ltd: The company said it has raised Rs 3,996.79 crore by allotting over 5.69 crore shares to qualified institutional buyers (QIBs).
Vivimed Labs: The company plans to divest part of its specialty chemicals business to a strategic investor or special purpose vehicle of the company or third party on slump sale basis for a consideration of not less than Rs 380 crore.
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