Stocks that moved the most on September 20

Blue Star | CMP Rs 904 | Shares of the company soared 13 percent after the company floated a qualified institutional placement (QIP) issue to raise funds. The floor price for the QIP is set at Rs 784.55 per share, which reflects a 2 percent discount to Monday’s closing price of Rs 800.05. The company, at its discretion, may offer a discount of not more than 5 percent on the floor price. The executive management committee of the company will hold a meeting on September 22 to consider the issue price.

Reliance | CMP Rs 2,380 | Shares slumped 2.3 percent after two crore shares changed hands on the exchanges as against the one-month daily traded average of 73 lakh shares. A block deal involving 1.9 crore shares or 0.3 percent equity also took place on the exchanges, worth around Rs 4,563 crore. Moneycontrol could not immediately identify the buyers and sellers involved in the transaction.

Jindal Steel and Power | CMP Rs 691 | Shares declined 1.6 percent. The company, September 18, announced that Chairman Naveen Jindal will continue on as a non-executive chairman post completion of his term. According to the regulatory filing, Jindal Steel and Power’s executive director and chairman Naveen Jindal has chosen to continue on the Board in the capacity of non-executive chairman, with effect from October 1, 2023. Under the new designation, Jindal will “continue to guide the Company to shape its vision of being an ever flourishing company focused on nation building, value creation, and sustainable development,” the filing said.

Union Bank of India | CMP Rs 100 | Shares rallied over 1.2 percent after the government extended the term of Nitesh Ranjan as executive director of the bank by another two years. Ranjan’s current term ends on March 9, 2024, according to a filing with the BSE on September 18. Union Bank of India has a market capitalisation of Rs 73,309 crore. Promoters i.e. the President of India holds 83.49 percent stake in the public sector bank, while DIIs and the public own 7.88 percent and 7.16 percent in the bank. FIIs own the remaining 1.46 percent stake in the bank.

Garden Reach Shipbuilder | CMP Rs 845 | Shares traded 3 percent higher after the company said that it has signed non-binding pacts with Lloyd’s Register and Caterpillar Inc. The company had participated in the Defence and Security Equipment International Exhibition in London, 2023, and entered into two non-binding agreements which are confidential in nature, Garden Reach said in a regulatory filing.

IRFC | CMP Rs 77 | Shares traded 1 percent higher after the union government extended its current chief managing director Shelly Verma’s tenure by six months. “The extension has been provided for a further period of six-months to Ms. Shelly Verma who holds the charge of chief managing director in additional capacity apart from the position Director of Finance. This will be in effect from October 15, 2023,” the state-owned company said in a regulatory filing at the exchanges.

Venus Remedies | CMP Rs 232 | Shares traded over a percent lower. The company received the marketing approval from Serbia for its drugs used in treatment of cancer. “The company has secured marketing authorisation from Serbia for gemcitabine and docetaxel, widely used chemotherapy drugs beneficial in the treatment of various types of cancer. With this, Venus Remedies has now secured a total of 511 marketing approvals for its oncology products across 66 countries,” the company said in a regulatory filing with the exchanges.

BL Kashyap | CMP Rs 54 | Shares jumped over a percent higher after the company secured a new order aggregating to Rs 167 crore approximately, from the Delhi International Airport. The total order book as on date stands at Rs 3,005 crore (excluding GST), company said. The order is for the construction of structural works and other finishing works and is to be executed in 18 months.

Prakash Industries | CMP Rs 139 | Shares darted up 6.4 percent after the steel products manufacturer received the environmental clearance for commercial coal mining at Bhaskarpara in Chhattisgarh. “The development of the mine is fast in progress and the mining lease is likely to be executed by the next quarter. The supply of coal from this mine shall provide stability to the company’s integrated steel operations as well as significant cost reductions,” the company said in a regulatory filing at the exchanges.

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