Let's catch up on the latest news from the stock market. From significant investments to major deals, fund raising and appointments, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
The company has received approval from the board for an investment of Rs 11,130.98 crore in the Darlipali Super Thermal Power Project, Stage-II (1x800 MW), and Rs 9,790.87 crore in the Sipat Super Thermal Power Project, Stage-III (1x800 MW).
The Reserve Bank of India (RBI) has approved the re-appointment of V Vaidyanathan as Managing Director and Chief Executive Officer (MD & CEO) of IDFC First Bank for three years, effective from December 19, 2024.
The Board has approved the issuance of up to 12.56 crore equity shares of the company, or warrants convertible into equity shares, at an issue price of Rs 240 per share through preferential allotment, and the raising of up to Rs 3,000 crore through the issue of equity shares to qualified institutional buyers via qualified institutional placement.
The company's subsidiary, Casper Realty, has been declared the highest bidder for two prime city-centric plots (measuring 13.14 acres) in Mohali, Punjab, with a combined bid value of approximately Rs 891 crore.
The real estate developer has issued corporate guarantees of Rs 545 crore to secure credit facilities being availed by Techzone Technologies and Thomsun Realtors.
The bank will receive a refund of Rs 123.9 crore from the Income Tax Department for the Assessment Year 2021-22.
The bank has announced a partnership with Niva Bupa Health Insurance Company to offer health insurance products to its customers.
SEBI has restrained Axis Capital (a subsidiary of Axis Bank) from undertaking any new assignments as a merchant banker, arranger, or underwriter for any issue of securities in the debt segment. The regulator has also asked Axis Capital to respond to its observations within 21 days.
The company has dissolved Dextara Digital (UK), its step-down subsidiary based in the UK.
The company has acquired the remaining 51% stake in its joint venture, Rane NSK Steering Systems (RNSS), from NSK Ltd, Japan. Following the acquisition, RNSS has become a wholly-owned subsidiary and will be renamed Rane Steering Systems.
The Reserve Bank of India (RBI) has lifted the restrictions imposed on IIFL Finance's gold loan business, allowing the company to resume sanctioning, disbursing, assigning, securitizing, and selling gold loans.
The company has agreed to invest Rs 17 crore in SpaceTech startup GalaxEye Space Solutions as part of its Infosys Innovation Fund.
Tata Power and Singapore-based Indonesian mining company Adaro International have both sought compensation from each other over a dispute related to a coal supply agreement. Adaro has claimed $106 million and sought arbitration, while Tata Power has countered with a claim of $229.947 million for non-supply of coal.
The board has approved a rights issue at Rs 50 per share, with a rights entitlement ratio of one equity share for every six equity shares held by eligible shareholders. The company had previously approved a Rs 200 crore rights issue in July.
The Board has approved the appointment of Vaibhav Khadke as Chief Financial Officer, effective September 20, and Suresh Jagdale as General Manager-Account, effective September 19.
Sandur Manganese and Iron Ores
The Karnataka State Pollution Control Board (KSPCB) has granted Consent for Operation for the company’s manganese and iron ore mines, allowing the enhancement of manganese ore production from 0.43 MTPA to 0.55 MTPA.
Bulk Deals
Rohini Nilekani’s Small Cap Portfolio has acquired a 0.55% stake in the company at an average price of Rs 105.21 per share.
India Advantage Fund S4-I has sold a 1.04% stake in the company at an average price of Rs 380.19 per share.
Ace investor Radhakishan Damani has sold an additional 1 lakh shares in the company at an average price of Rs 439.05 per share. However, Reliance Mutual Fund has purchased 85,000 shares at an average price of Rs 439.96 per share, and Thrift Savings Plan has bought 83,970 shares at an average price of Rs 440.74 per share.
SME Listing on September 20
Sodhani Academy of Fintech Enablers
Stocks Trade Ex-Dividend
Stock Trades Ex-Date for Split
Fedders Holding
Stocks Trade Ex-Date for Bonus
Phoenix Mills, Axita Cotton, IFL Enterprises, Mindteck, RITES, Ujaas Energy
Stock Trades Ex-Date for Spin Off
Rossell India
F&O Ban
Chambal Fertilisers and Chemicals, NALCO, SAIL, Aarti Industries, Biocon, Birlasoft, GNFC, Granules India, LIC Housing Finance, Oracle Financial Services Software, Punjab National Bank, RBL Bank
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