VRIGHT Exchange | Daily Corporate Action & Market Report

Market View

• GIFT Nifty (Sept 18, 8:10 am IST): +84 at 25,498.

• Nifty Trend: Bullish, supported by Fed’s 25 bps rate cut and expectations of two more cuts in 2025.

• Upside Levels: 25,500 / 25,670; Aggressive 25,900–26,250.

• Bank Nifty (55,493): Buy at CMP; targets 55,700 / 56,100;
Aggressive 56,500–57,000.

Corporate & Economy

Cohance Lifesciences: Jusmiral Holdings to sell 1.9 crore shares (5.1% stake) worth ₹1,756.2 crore. Floor price fixed at ₹900/share, a 6.9% discount to CMP. IIFL Capital Services sole broker.

• Marico: Income Tax department officials visited some company offices and manufacturing units. Proceedings are ongoing; company extending full cooperation.

• Zinka Logistics: To be renamed Blackbuck effective Sept 22.
• Yes Bank Block Deals:

o Bandhan Bank sold 15.39 crore shares at ₹21.5/share; stake down to 0.21% from 0.7%.

o Federal Bank sold 16.62 crore shares at ₹21.5/share to SMBC
.
o SBI already divested its entire 13.18% stake earlier to SMBC for ~₹8,889 crore.

• Lodha Developers (Macrotech): To refer Rajendra Lodha’s resignation matter (Aug 17) to authorities.

• Bajaj Finserv: Ambitious 2029 targets —

o Total income growth: 20–22% to ~₹3 lakh crore

o Profit growth: 18–22% to ~₹20,000 crore

o Customer base: 20 crore (15–17% CAGR)

• Aavas Financiers: Board approved raising up to ₹8,500 crore via NCDs (private placement).

• Poonawalla Fincorp: Approved allotment of 3.3 crore shares worth ~₹1,500 crore to promoter Rising Sun.

• Indosolar: Promoter Waaree Energies to sell 61 lakh shares (14.66% stake) via OFS on Sept 18–19. Floor price: ₹500/share.

• Biocon Biologics: Received USFDA approval for two biosimilars:
o Bosaya (subcutaneous Prolia biosimilar)

o Aukelso (subcutaneous Xgeva biosimilar)

• Dixon Technologies: To acquire 51% stake in Kunshan Q Tech Microelectronics (₹553 crore). Kunshan manufactures camera/fingerprint modules for mobile, IoT, and automotive applications.

• SVP Global Textiles: Fire at Jhalawar, Rajasthan plant/warehouse. Several records damaged beyond retrieval.

• Central Bank of India: Board approved infusion of ₹64.40 crore in rights issue of subsidiary Cent Home Bank Finance (total issue ₹100 crore)..

Stocks in Focus

Positive Developments

• MOIL: First-ever manganese ore export; 54,600 tonnes shipped to Indonesia.

• Escorts Kubota: Launches new combine harvester “PRO588i-G” in Punjab & Haryana.

• Go Digit: CRISIL rating upgraded to AA-/Stable.

• Uttam Sugar: CARE Ratings upgrade to CARE A (Positive Outlook).

• Colab Platforms: Strategic MoU with RRP Drones Innovation for drone tech entry.

• Qualitek Labs: Secured ₹10.19 crore IOCL O&M contract + acquired Mumbai food testing lab for ₹8.82 crore.

• RailTel: Wins ₹105.75 crore smart classroom order.

• Landmark Cars: Receives Kia India LOA for Kolkata showroom.

• Smartworks: Launches largest Mumbai campus (5.57 lakh sq. ft.) at Intellion Park.

• Veerhealth Care: Fresh OTC drug order from U.S. customer.

• ELCID Investments: Secures RBI Type-1 NBFC-ND license.

• Mach Conferences & Events: Wins ₹14 crore MICE contracts in Prague & Vienna.

• B.R. Goyal Infra: Order book expands to ₹1,443 crore.

• Cochin Shipyard: ₹200 crore ONGC contract for dry dock & rig repairs.

• TVS Motor: Launches CNG 3-wheeler in Tanzania.

• Biocon Biologics & Dixon Technologies: Strong strategic expansion (details above).

Neutral / Monitoring Required

• Muthoot Microfin: NCD issue of ₹75 crore.

• Vedanta: SEPCO withdraws intervention application.

• Emkay Global: To consider preferential issue on Sept 22.

• Union Bank: CARE Ratings reaffirmed (Stable).

• Gujarat Fluorochemicals: Devansh Trademart sold 13 lakh shares (1.18%).

• Adani Ports: Sri Lanka container terminal expansion on track.

• Zinka Logistics: Renaming to Blackbuck effective Sept 22.

• Multiple companies announce dividends, stock splits, or ASM framework inclusion/exclusion (detailed list maintained separately).

Negative Developments

• Allied Blenders: SC appeal disposed; trial court directed to expedite case.

• Kaira Can: CRISIL downgrade to BBB/Stable (from BBB+).

• Chemplast Sanmar: CRISIL outlook revised to Negative; short-term rating downgraded.

• Marico & Mirza International: Income Tax searches/visits at premises.

Analyst Takeaways

1. Yes Bank stake churn signals increasing Japanese strategic ownership via SMBC — positive for stability, neutral for PSU banks selling stakes.

2. Fed’s dovish tilt keeps global liquidity favorable; Nifty aiming for 25,670 in near term.

3. Biocon & Dixon approvals/expansions reinforce Indian pharma & electronics manufacturing momentum.

4. Infra, PSU, and export-linked names remain attractive with order wins and capex visibility.

5. Credit downgrades (Chemplast, Kaira Can) caution investors on leveraged plays.