5 midcap stocks that are buzzing on the bourses on September 21

5 midcap stocks that are buzzing on the bourses on September 21

Indian Market
by 5paisa Research Team Last Updated: 2022-09-21T17:50:24+05:30

Check out the midcap companies making headlines in Wednesday’s session.

Among the midcap companies, KPIT Technologies Ltd, Kajaria Ceramics Ltd, CE Info Systems Ltd, V-Mart Retail and Crompton Greaves Consumer Electricals are the stocks in the news on Wednesday. Let us see why!

KPIT Technologies

KPIT Technologies Ltd, a global technology company, is up on the bourses today. The BSE 500 company is all set to acquire Technica Engineering, a company specializing in production-ready system prototyping (combination of network system architecture, hardware prototyping, integration), automotive ethernet products, and tools for validation. This will create across-the-stack expertise offering a one-stop shop for the industry to transform towards SDV. Technica Engineering is based in Munich with a presence in Spain, Tunisia, and the USA. The deal is expected to be closed by the end of October 2022, after fulfillment of customary closing conditions, and at the end of it, Technica Engineering will be fully owned by KPIT Technologies. The deal will be EPS accretive upon consolidation.

Kajaria Ceramics  

Kajaria Ceramics Ltd, the largest manufacturer of ceramic/vitrified tiles in India, has incorporated a wholly-owned subsidiary ‘Kajaria International DMCC’ in Dubai. The company initially subscribed to 50 ordinary shares of Kajaria DMCC for AED 1000 each, equivalent to Rs 10,87,500. The company has subscribed 100% shares of the Kajaria DMCC. With this, Kajaria DMCC has become a related party of the company. The newly incorporated company will carry out marketing of tiles/sanitary ware/faucet/plywood/laminates in UAE and/or may also in other international markets.

CE Info Systems

CE Info Systems (MapmyIndia), a part of S&P BSE 500 index, launched the Mappls swadeshi consumer app, logistics tech & APIs integrated with the Government of India’s ULIP during the launch event of of India’s National Logistics Policy. Mappls app is free, fully indigenous and highly accurate. CE Info Systems is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). It is India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies.

V-Mart Retail  

V-Mart Retail is in the news after Amansa Holdings purchased 2.88 lakh equity shares in the company. The stake purchase was done at an average price of Rs 2,914.99 per share. On the other hand, Plutus Wealth Management LLP has offloaded 3.03 lakh shares in the company at an average price of Rs 2,915.04 per share. V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities. 

Crompton Greaves 

Crompton Greaves Consumer Electricals (Crompton Greaves), an S&P BSE 100 company, is up on the bourses today. Recently, the company received approval to sell up to 10,72,775 equity shares of face value of Rs 10 each of Butterfly Gandhimathi Appliances, which is a material subsidiary of the company. Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.

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