Stocks in News, December 28: RVNL, Welspun, Punjab & Sind Bank, India Pesticides

Stocks in News, December 28: Indian frontline indices S&P BSE Sensex and Nifty50 are expected to open amid week global cues. Markets are likely to trade in a narrow range. Singapore-based SGX Nifty futures, an early indicator of movement in Nifty50 trading in red at 18,064.5, down 83.5 points or 0.46 per cent while Dow Futures were trading at 33,267.20, up by 25.60 points or 0.08 per cent.

Asian benchmark indices were trading mix with Nikkei 225 trading 200 points or 0.78 per cent lower at 26,241.50 while China's Shanghai Composite was trading at 3,095.57, up 30.01 points or 0.98 per cent.

Stocks in News, December 28

RVNL

Category-I MiniRatna CPSE under the Ministry of Railways, Rail Vikas Nigam has bagged an international project in Maldives worth Rs 1,545 crore, involving the development of UTF (Uthuru Thila Falhu-Island) Harbour.

The duration of the contract is 24 months. The company has been appointed as the Project Implementation Agency. This is a strategic project of the Government of India in the Maldives.

Welspun Enterprises Ltd

The company will consider a share buyback programme in the board meeting on December 30. The Declaration of an interim dividend will also be considered in the meeting.

Also, read- DIVIDEND STOCKS: 8 highest dividend paying PSU stocks in 2022

Punjab & Sind Bank

The city-based bank will consider raising capital up to Rs 250 crore in the board meeting on December 30. The bank will also consider of raising funds through FPO/QIP/rights issue in one or more phases.

India Pesticides

Subsidiary Shalvis Specialities (SSL) has received environmental clearance to set up a manufacturing plant for agrochemicals and intermediates, API ingredients and intermediates and fine chemicals in Hamirpur.

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