Market this week 17-12-2021

Market this week 17-12-2021
  • Company fixes Dec 23 as record date for stock split as Precision Wires reaches 52-week high
  • Shares of Ashika Buildcon rise after bagging a Rs 769.41-crore road project in Goa
  • The share price of Adani Green Energy rose following the agreement with Solar Energy Corp.
  • The share price of Bajaj Electricals jumped 10% after the board approved a review of the corporate structure
  • Following the IPO of JK Files, Raymond shares gain 3%

Company fixes Dec 23 as record date for stock split as Precision Wires reaches 52-week high

Precision Wires India’s shares rose nearly nine percent intraday on December 15 after the company fixed December 23 as the record date for a stock split.

On November 3, Precision Wires India’s board of directors approved the sub-division of the company’s equity shares with a face value of Rs 5 each into 5 equity shares with a face value of Rs 1 each. The board has also approved subdividing unissued equity shares of Rs 10 each into 10 equity shares of Rs 1 each, subject to shareholder approval and other approvals.

Shares of Ashika Buildcon rise after bagging a Rs 769.41-crore road project in Goa

The shares of Ashika Buildcon increased more than 2 percent in the morning session on December 15 after the company received a letter of award (LoA) for a road project worth Rs 769.41 crore in Goa.

Shoka Buildcon has been awarded a six-lane highway (NH-1665) with paved shoulders going to Mopa Airport in Goa on the engineering, procurement, and construction (EPC) basis by the Ministry of Road Transport and Highways. According to an exchange filing, the company has accepted the quoted offer of Rs 769.41 crore for the project.

The share price of Adani Green Energy rose following the agreement with Solar Energy Corp

After the company announced it had signed a deal with Solar Energy Corp to supply 4,667 MW of green power in the world’s “largest” deal of its kind on December 14, Adani Green Energy shares gained 2 percent during the morning session.

“Adani Green Energy (AGEL), the largest solar power developer in the world and part of the diversified Adani Group, has signed a deal to supply 4,667 MW of green energy to the Solar Energy Corporation of India (SECI). The company said it was the world’s largest green power purchase agreement.

The share price of Bajaj Electricals jumped 10% after the board approved a review of the corporate structure

After Bajaj Electricals announced it will review its corporate structure on December 10, the company’s share price soared 10 percent to Rs 1,159.95 intraday.

On December 9, 2021, the Board of Directors of the Company authorized several of its directors and officials to review the corporate structure of the Company to unlock growth and value creation across all business segments .Company segments include Consumer Products (CP) and Engineering Procurement and Construction (EPC).

Following the IPO of JK Files, Raymond shares gain 3%

The share price of Raymond gained 3 percent intraday on December 10 after its subsidiary JK Files & Engineering filed DRHP with the market regulator SEBI.

Raymond-backed JK Files & Engineering has filed a draft red herring prospectus (DRHP) with SEBI to raise funds via an initial public offering. It is planned by the company to raise Rs 800 crore through a public offering that consists entirely of an offer for sale by the promoter, Raymond. As a result, it will not receive any money from the public offering, and all proceeds will go to the selling shareholder.

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