Five midcap names that investors should keep an eye on today!
Check out the midcap companies making headlines in the morning trade session.
New India Assurance, Torrent Power, Shyam Metalics, Infebeam Avenues and Macrotech Developers are among the stocks that are in the news today. Let us see why!
New India Assurance Company: The non-life insurance company’s share was the biggest gainer among the midcap stocks in the morning trades gaining as much as 12% on the back of positive momentum in the stock. Founded by Dorabji Tata, it is the wholly Indian owned insurance company in India
At the time of writing the shares of New India Assurance were trading at Rs 128.85, up 1.01% or 15.05 per share.
Torrent Power: Torrent Power Limited, the successful bidder has entered into Special Purchase Agreement and Shareholders Agreement for purchase of 51% Equity Share Capital of Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited (the Special Purpose Vehicle ) from the Hon'ble Administrator of the Union Territory of Dadra and Nagar Haveli and Daman and Diu ( Holding Entity). The SPV operates in the area of Distribution and Retail Supply of Electricity and purchase supports. Torrent Power’s focus area of licensed and franchised power distribution business with diverse consumer base At the time of writing, shares of Torrent Power were trading Rs 485.30 up by 1.58% or 7.55.
Shyam Metalics and Energy: The company has informed in its exchange filing the approval of setting up of further capacities at its integrated units in Sambalpur and its material subsidiary’s plant at Jamuria. Total investment would be Rs 990 crore (Rs 270 crore in Sambalpur unit and Rs 720 crore in Jamuria unit) to be arranged from cash flows existing from internal accruals. The projects shall be set up as brownfield expansion in land available at respective plants. At 10.20 am on Wednesday, Shyam Metalics was trading at Rs 321.05, up 4.21 % or 12.70 per share.
Infibeam Avenues: The company informed in its exchange filing the appointment of Sunil Bhagat as the Chief Financial Officer and Key Managerial Personnel of the company with effect from the start of business hours on March 19, 2022, in place of Hiren Padhya. Sunil Bhagat is a qualified chartered accountant with rich and varied experience of over 22 years in several companies including Piramal Glass Limited, Unimark Remedies Limited and Shalby Limited At 10.20 am on Monday, Infibeam Avenues was trading at Rs 21.20, up 0.9% or 0.20 per share.
Macrotech Developers: Moody’s has revised the rating of USD senior Notes (listed on the Singapore Stock Exchange), issued by Lodha Developers International Limited, it's subsidiary from B3 to 82 with a positive outlook by Moody's Investors Service. At 10.20 am on Wednesday, Macrotech Developers was trading at Rs 1045.35, up 0.9% or 9.30 per share.
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