ARIHANTCAP

Sept 6 (Reuters) - Arihant Capital Markets Ltd ARCM.NS:

• APPROVED ISSUE OF SHARES FOR UP TO 1.50 BILLION RUPEES BY RIGHTS ISSUE

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(Reporting by VijayDattaram Malkar)

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Aug 30 (Reuters) - Arihant Capital Markets Ltd ARCM.NS:

• APPROVES SALE OF STAKE IN ARIHANT INSURANCE BROKING SERVICES

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** Shares of chemicals maker India Glycols IGLY.NS rises 3.3% to 1,053.05 rupees, on track for seventh gaining session

** IGLY's measures including ethanol capacity addition, divestment of stake in non-core businesses to help manage cash-flows better, says Nuvama

** Brokerage starts coverage on IGLY with "buy" and PT of 1,365 rupees, per LSEG

** Nuvama second brokerage to start coverage on IGLY after Arihant Capital Markets, which also rates it "buy", per LSEG

** Expects healthy growth momentum on increase in supply of Indian-made foreign liquor in four more states after Uttarakhand and Uttar Pradesh

** Price hikes taken in country liquor Q4FY24 onwards to also boost growth - Nuvama

** Stock up 37% YTD after a flat 2023

(Reporting by Kashish Tandon in Bengaluru)

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June 21 (Reuters) - Arihant Capital Markets Ltd ARCM.NS:

• ENTERED INTO SHARE SALE AND PURCHASE AGREEMENT WITH LOCKTON OVERSEAS

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** India's benchmark indexes NSE Nifty 50 .NSEI and BSE Sensex .BSESN drop 1% each as investors book profits ahead of key economic data

** Volatility index .NIFVIX rises to 16.42, slightly below 10-month high of 16.58 hit on Jan. 30

** Volatility will rise further ahead of monthly derivatives expiry on Thursday and also in run-up to national elections - Anita Gandhi, founder and head of institution, Arihant Capital Markets

** Expects bouts of profit taking to continue, terms consolidation near record high levels "healthy", providing attractive entry opportunities

** More domestically-focussed small- .NIFSMCP100 and mid-caps .NIFMDCP100 drop 2% each

** "Small- and mid-caps represent risk area for markets. Multiple asset managers are stopping taking in funds in theses segments" - Samrat Dasgupta, CEO of Esquire Investment Advisors

** All 13 major sectors log losses; energy .NIFTYENR and oil and gas .NIFOILGAS drop 2% each, dragged by Reliance Industries RELI.NS and oil marketing companies

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of agriculture chemicals producer UPL UPLL.NS up 0.4% ahead of its Q2 results

** Analysts, on avg, expect consolidated profit to fall ~43% and revenue to fall ~12% - LSEG data

** Analysts at Jefferies expect a weak FY24 for UPL due to competition from Chinese post-patent players and oversupply

** Prabhudas Lilladher expects subdued performance in Q2 with growth expected to be in the mid-single to low double digits YoY, due to delayed monsoon

** Nineteen of 25 analysts have a "buy" or "strong buy" rating, five "hold" while one rates it "sell" or "strong sell"; median PT is 800 rupees - LSEG data

** UPL fell over 10.4% in Sept-qtr, underperforming Nifty 50 index .NSEI which gained 2.3%

(Reporting by Anuran Sadhu in Bengaluru)

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June 15 (Reuters) - Arihant Capital Markets Ltd ARCM.NS:

• APPROVED RAISING OF FUNDS VIA ISSUANCE OF NON-CONVERTIBLE DEBENTURES FOR UPTO 1 BILLION RUPEES

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** Shares of Shilpa Medicare Ltd SHME.NS rise as much as 3.5% to 247.25 rupees

** Brokerage Arihant Capital says SHME may look to monetize assets and biologic business to bolster balance sheet and invest in future initiatives

** Pegs double-digit growth in FY24 topline, with op margin expansion

** If trends hold, stock on track to advance for third consecutive session

** About 776,303 shares change hands by 11:36 a.m. IST, 2x the 30-day avg - Refinitiv data

** Stock last up ~2%, cutting YTD losses to ~13%

(Reporting by Priya Sagar in Bengaluru)

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