India Movers: Annapurna Swadisht, Lemon Tree Hotels, PDS, Shaily Engineering, Reliance Industries, TCNS Clothing, VLS Finance

Arun Goswami
29 Aug, 2024
Mumbai

The Competition Commission approved the merger of Reliance-promoted Viacom 18 and Disney-controlled Star of India. 

Reliance Industries holds its annual general meeting today. 

The Sensex index increased by 0.4% to 81,961.13, and the Nifty index rose 0.2% to 25,097.50. 

On the Mumbai stock exchange, 158 stocks traded at their 52-week highs, and 14 stocks traded at their 52-week lows.

Reliance Industries decreased 0.2% to ₹2,990.25, and the company is holding its annual general meeting today. 

Moreover, the Competition Commission of India approved the merger of Reliance-controlled Viacom18 with Disney-owned Start India. 

After the merger, Reliance Industries will control a 56% stake in the media and entertainment company, Disney 37%, and Bodhi Tree Systems 7%. 

Annapurna Swadisht declined 6.8% to ₹467.05, and the company launched its institutional secondary offering with a floor price of ₹434.96 per share. 

PDS Ltd. decreased 2.8% to ₹587.50, and the apparel manufacturing company completed its 430 crore secondary offering to institutional investors. 

Shaily Engineering Plastics increased 0.6% to ₹965.0, and Motilal Oswald Mutual Fund acquired an additional 0.68% stake in the company at an average price of ₹923.63 per share. 

The company previously acquired a 1.04% stake in the company for ₹940 per share. 

TCNS Clothing Company fell 0.1% to ₹572.85, and mutual funds controlled by Religare Invesco, Edelweiss, and Invesco acquired about 3.2% stake in the company from funds controlled by Morgan Stanley Asia, Nomura Asia, and Setu Securities. 

Lemon Tree Hotels increased 1.2% to ₹134.29, and the company plans to open a hotel in Ujjain, Madhya Pradesh, with 72 rooms and other facilities in the financial year 2027. 

VLS Finance added 0.7% to₹374.15, and the company announced a 33 lakh stock buyback plan at a price of₹380 per share, totaling ₹125.4 crore.