Mumbai: The share price of One 97 Communications (Paytm), Rites, Godrej Consumer and Ceat are in focus on December 9 (Monday). The trends indicated that several people are searching for queries related to these stocks.
The stocks of Paytm, Rites and Ceat were trading in Green while Godrej Consumer share price plunged 10 per cent.
Paytm share price
Paytm shares traded in positive at Rs 987 apiece today morning after its parent company One 97 Communications was reported to have received a green signal to offload a “stake in Japan’s PayPay to SoftBank for $250 million.” One97 Communications informed the exchanges that its Singapore-based arm has given the go ahead to the sale of its Stock Acquisition Rights in Japan’s PayPay to Softbank Vision Fund 2 for Rs 2,364 crore.
“One97 Communications Singapore Private Limited has informed the company on December 06, 2024, at 12:49 pm (IST), that its Board of Directors at its meeting held on December 06, 2024, has approved the sale of all its Stock Acquisition Rights in PayPay Corporation, Japan, to SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to Rs 2,364 crore),” the company said in the filing.
Rites share today
Rites shares gained 3 per cent to trade at Rs 307.25 at 9:48 am today. The stock gained after the company secured a Rs 148.25 worth project from the Indian Institute of Management (IIM) Raipur. RITES will serve as the Project Management Consultant (PMC) for the development of Phase II of the institute’s campus in Chhattisgarh. Besides this, the Railway PSU also sealed a deal worth $97.13 million from the Ministry of Public Works, Government of the Co-operative Republic of Guyana. The company is tasked to upgrade the Palmyra to Moleson Creek Highway.
Godrej Consumer share price
Godrej Consumer share price dropped nearly 10 per cent to Rs 1,118 apiece at 9:51 am today. The stock plunged as Godrej Consumer Products projected a “flattish” underlying volume growth and a mid-single-digit sales growth in the domestic market in the December quarter. The company has been hit by the hike in soap prices and unseasonal rainfall which has resulted in slowing down sales of the home insecticides (HI) segment.
“The demand conditions in India have been subdued for the past few months which is evident in the FMCG market growth,” Godrej Consumer Products Ltd (GCPL) stated while informing the exchanges about the business conditions and quarterly performance.
Ceat share price
Ceat share price jumped 10 per cent to trade at Rs 3,408.70 today morning. The stock gained after Ceat sealed a deal with global tyre maker Michelin to acquire its Camso brand’s off-highway tyres and tracks business.
“The track segment is growing faster and (also) has a larger premium play with the customers yet to figure out the right applications of tracks in construction and mining, which means there is a lot of scope for higher penetration in the track segment. So, between the two, tyres and tracks, the latter is more attractive, where CEAT will focus on growth,” CEAT Managing Director and CEO Arnab Banerjee told PTI in an interaction.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Stocks in focus today: The share price of Godrej Consumer, Ceat, One 97 Communications (Paytm), and Rites in news on December 9, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
