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“Over the next six months to one year, we are positive on the economy growing. We are looking at the economy facing stocks and betting on the green shoots. We have been buying HDFC Ltd. at lower levels. Among the midcaps, the two stocks we are advising clients to buy are Reddington and Kalpataru Power.”

The scheme proposes the amalgamation of Equitas Holdings into and with Equitas SFB and the dissolution without winding-up of the transferor company pursuant thereto, a filing said. The amalgamation between the two entities is subject to approvals from RBI, stock exchanges, Sebi as well as the National Company Law Tribunal (NCLT).

Chemplast Sanmar, incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 1187.55 Crore) operating in General sector.

“The Prime Minister has made it very clear that we are committed to staying the course for not just one or two policies but to hand-hold the entire digital economy and all of the stakeholders in the digital economy to reach that $1 trillion digital economy mark. Apple’s exports of iPhones manufactured in India crossing Rs 10,000 crore is an important milestone in the expansion of our economy.”

As of 31-Dec-2021, promoters held 48.76 per cent stake in the company, while FIIs held 21.37 per cent and domestic institutional investors had 9.56 per cent.

While recommending institutional investors to vote in favour of the resolution pertaining to approval of preferential allotment to promoters, proxy advisory firm IiAS said the issue would lead to a dilution of 10.5%, and the equity raise gives the company funds required to meet its payment obligations as well as repay its dues and meet its working capital requirements.

The Relative Strength Index of the stock stood at 46.71 on Tuesday.

Despite near term margin headwinds, the stock appears attractive from a 2-3 years horizon.

The company said on Monday that said a wholly-owned subsidiary of APL Apollo Tubes, APL Apollo Mart, had bought 10,00,000 equity shares of the company, accounting for 4.38 per cent of the total paid-up capital.

The stock quoted a 52-week high of Rs 2679.0 and a 52-week low of Rs 1045.83.