The domestic stock markets on Wednesday closed in green after the Sensex witnessed a growth of 305 points and Nifty 50 saw a rise of 82 points. However, there were certain stocks, like Jain Irrigation, RCF to Vedanta Limited, that came in the news after the market was closed for trading on the day and will have an impact on the market on Friday, September 14, 2018.
Written By: ZeeBiz WebTeam
Updated: Fri, Sep 14, 2018
09:20 AM IST
09:20 AM IST
ZeeBiz WebDesk
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Anil Singhvi's Market Strategy September 14: Market trend is negative; PSU, Aluminium, FMCG, Banks, Pharma are positive The domestic stock markets on Wednesday closed in green after the Sensex witnessed a growth of 305 points and Nifty 50 saw a rise of 82 points. However, there were certain stocks, like Jain Irrigation, RCF to Vedanta Limited, that came in the news after the market was closed for trading on the day and will have an impact on the market on Friday, September 14, 2018. Here is the list of such stocks:
Godrej Agrovet: Board of Directors of the company will meet today to consider and approve the scheme of amalgamation of Astec LifeSciences (a subsidiary of the company) with the company and also to discuss on business strategies.
Jain Irrigation Systems: The company has acquired ETwater, an innovator of intelligent irrigation technology and in the vanguard of the creation of the smart irrigation controller. ETwater is dedicated to helping solve the real-world problem of water scarcity. Jain Irrigation has said that the acquisition is small but will help the company to fortify the company’s position in the US smart agriculture market with the Internet of Things and also help scale up its operations.
Rashtriya Chemicals & Fertilizers (RCF): The Union Cabinet on Wednesday gave ex-post facto approval for the transfer of land from Rashtriya Chemicals and Fertilizers Limited (RCF) to Mumbai Metropolitan Regional Development Authority (MMRDA). With this approval, RCF will be able to sell the Transfer of Development Rights (TDR) that it got from the Mumbai MMRDA and the BMC.
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Parag Milk Food/Prabhat Dairy/Kwality Ltd./Heritage Foods: Stocks of these companies will remain in focus because Patanjali Ayurveda Ltd has announced its plans to sell packaged cow milk and milk-based products such as curd, chachh, paneer and cheese. A packet of milk will be Rs 2 cheaper than the average market price. The company says that it hopes to generate about Rs 500 crore by end of March 31, 2019, and double that the next fiscal year.
Vedanta Limited: Mining baron Anil Agarwal's company on Thursday announced hydrocarbon discovery in a Krishna-Godavari Basin block in the Bay of Bengal. Vedanta holds 100 per cent participating interest in the block.
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