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Indian firms set for watchlist ahead of Sept 24 catalysts
Several companies are in focus, including Simplex Castings’ planned preferential share issue and Sheetal Universal’s $1.22 million export order from Dubai.
Indian stock market investors are set to watch a slate of companies on Thursday, September 24, after a mix of order wins, regulatory approvals, fundraising plans, and debt reduction updates, according to LiveMint Markets.
Simplex Castings said its board approved raising funds through a preferential issue of up to 44.91 lakh equity shares at ₹105 each, which would aggregate to about ₹47.15 crore, subject to regulatory and shareholder approvals. The company also approved raising its authorised share capital to ₹15 crore from ₹10 crore.
Max Estates plans to sign a joint development agreement for a 9.76-acre land parcel in Indirapuram, Ghaziabad, with estimated development potential of 1.5 million sq ft and potential gross development value of ₹2,500–₹3,000 crore. Sheetal Universal received a $1.22 million export order from Dubai based Beacon Star General Trading LLC for peanut kernels, received on September 23.
Motilal Oswal Financial Services said its wholly owned subsidiary, Motilal Oswal Custodial Services, received SEBI approval to operate as a securities custodian under the SEBI Custodian Regulations. The watchlist also includes Pyramid Technoplast, which received amended approval from the Gujarat Pollution Control Board to recycle up to 960 MT annually, Accord Transformer & Switchgear’s ₹20.02 crore order for 57 wind turbine transformers for Aditya Birla Renewables’ Bhuj project, and PC Jeweller, which reported repaying outstanding debt to another consortium bank, clearing more than 99% of outstanding bank debt and targeting debt free status within the current month.