Rishabh Instruments, Ratnaveer Precision Engineering to List on Stock Exchanges on September 11
The Indian stock market was mixed on Tuesday, with the Nifty50 index closing marginally lower. However, there were some stocks that made headlines, with investors closely tracking their developments.
Here are some of the buzzing stocks in the Indian market today:
- Vakrangee: The technology company has entered into a binding term sheet with private equity investor Aaviskaar Capital to acquire 48.5% equity stake in Vortex Engineering. Vortex is one of the leading providers of automated teller machines (ATMs), and so far has shipped 10,000+ ATMs across India, Africa and South Asia and Software products to complement ATM hardware. This acquisition will help Vakrangee achieve backward integration.
The acquisition is expected to be completed by the end of this year. Vakrangee is a leading technology company that provides a range of services, including e-commerce, financial services, and education. The company has over 100 million registered users and over 50,000 outlets across India.
Vortex is a leading provider of ATMs in India. The company has over 10,000 ATMs installed across the country. The acquisition will help Vakrangee to expand its ATM network and provide better services to its customers.
- Adani Enterprises: The company has signed a joint venture agreement with Kowa Holdings Asia Pte Ltd, Singapore, for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group.
The joint venture will be called Adani Kowa Clean Hydrogen. It will be headquartered in Singapore and will have a presence in India, Japan, South Korea, and other countries in the Asia Pacific region.
The joint venture will focus on the development and commercialization of green ammonia, green hydrogen and its derivatives. These products are considered to be clean energy alternatives to fossil fuels.
- SJVN: The subsidiary SJVN Green Energy has signed a power purchase agreement with Bhakra Beas Management Board for a 18 MW solar power project. The project is scheduled to be commissioned by August 2024.
The project will be located in Bilaspur district of Himachal Pradesh. It will use solar photovoltaic technology to generate electricity.
The power generated from the project will be sold to Bhakra Beas Management Board under a 25-year power purchase agreement.
- VRL Logistics: SBI Mutual Fund has bought 19.29 lakh equity shares, equivalent to 2.2% of paid-up equity through open market transactions. These shares were bought at an average price of Rs 681 per share and were worth Rs 131.36 crore. However, promoter Anand Vijay Sankeshwar sold 35 lakh shares or 4% stake at an average price of Rs 681.08 per share.
The share purchases by SBI Mutual Fund and the share sale by Anand Vijay Sankeshwar indicate that there is interest in VRL Logistics stock. However, investors should carefully evaluate the news and updates related to the company before making any investment decisions.
These are just a few of the buzzing stocks in the Indian market today. Investors should carefully evaluate the news and updates related to these stocks before making any investment decisions.
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