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Kolkata-based diversified conglomerate, Emami Group, has decided to consolidate its realty arm into a single listed entity to unlock value and raise funds from the market to fund its ongoing projects.
Emami Infrastructure Ltd, the realty arm of the Emami Group, will merge Zandu Realty with itself.
Kolkata-based Emami Infrastructure, an FMCG company engaged in the personal care/cosmetics and healthcare, hit the roof as its board approved the merger with Zandu Realty.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today -- ITC, Adani Enterprise, Bank of Baroda, Zandu Realty, Emami Infrastructure, Bharti Infratel, Shiva Cement, and RBL Bank.
Shares of Zandu Realty rose 20 percent and Emami Infrastructure has locked at 5 percent upper circuit (touched 52-week high of Rs 155.25) intraday Monday on the back of approval of merger between the companies.
Close to two dozen companies including Accelya Kaya, Ajanta Pharma, Alembic Pharma, Agro Tech Foods, Dewan Housing, Everest Ind, IG Petrochem, ICICI Bank, Kaya, Intellect Design, Merck, KPR Mills, L&T Technology, R Systems, Sundaram Clayton, Shanthi Gears, TBZ, Vardhman Acrylics, V-Mart Retail, and Zandu Realty will announce their quarter and year-ending March 2017 financial performance on Wednesday.
There is no respite in selling by foreign institutional investors. Their fury took a heavy toll on several mid- and small-cap stocks, many of which are at 52-week lows.
About 100 firms including Aarti Drugs, Apollo Tyres, Bosch, Cipla, Godrej Properties, Hinduja Foundries, IMPAL, Indian Bank, Jamna Auto, JK Tyre, J&K Bank, Karnataka Bank, Kesoram, L&T Infotech, Lupin, Max India, NCC, Oracle Financial, Orchid Pharma, Orient Cement, Oriental Bank, Pidilite, Polaris Consulting, Power Finance Corp, PowerGrid, Ramco Systems, RECL, TBZ, UCO Bank, Ujjivan, Voltamp and Zandu Realty will announce their Q2 results on Tuesday.
Emami Infrastructure Ltd has informed the BSE that the Calcutta High Court had on Tuesday sanctioned the Scheme of Arrangement for the amalgamation of Emami Realty Ltd and Emami Rainbow Niketan Pvt Ltd, the wholly-owned subsidiaries, with the company.
SBI | Tata Motors | HUL | Bharti Airtel | Cipla | ACC | Ambuja Cements | Emami | NHPC | Aurobindo Pharma | Visa Steel | Ruchi Soya | Venus Remedies | Financial Technologies | Tata Global | BL Kashyap | Asahi India Glass | IVRCL | Alstom T&D India | GSK Pharma and Capital First are stocks, which are in the news today...
AB Nuvo, Amrutanjan, Ashok Leyland, Amtek Auto, BHEL, BEML, Chennai Petroleum,