Stocks to Watch: Ambuja Cements, IDBI, HDFC, Suzlon, Tata Power | Mint – Mint

  • Tata Consultancy Services and JTL Infra will be focus as they declare the September quarter earnings today.

Here is the list of the top 10 stocks that will be in focus today:
Ambuja Cements: Ambuja Cements Ltd on Saturday said it has received shareholders’ approval for all proposals in its EGM, including a resolution to raise 20,000 crore from an Adani group firm and the appointment of Gautam Adani and others on the board of the company. The Extraordinary General Meeting (EGM) has passed the special resolution proposing to raise 20,000 crore by issuing securities on a preferential basis to Harmonia Trade and Investment Ltd, an Adani group entity, with 91.37% votes, Ambuja Cements said in a regulatory update.
IDBI Bank: The Central government and the Life Insurance Corporation of India (LIC) on Friday said that they will together divest a 60.72% stake in IDBI Bank. The Central government has made it mandatory for interested parties for IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process.
HDFC: Housing Development Finance Corporation (HDFC Ltd) will raise up to 12,000 crore by issuing bonds on a private placement basis next week. The base issue size is 1,000 crore with an option to retain over subscription of up to 11,000 crore, it said in a regulatory filing on Friday. The secured redeemable Non-Convertible Debentures (NCDs) will carry a coupon rate of 8.07% per annum for a tenor of 10 years.
Bandhan Bank: Kolkata-headquartered private sector lender Bandhan Bank on Saturday reported a 22% jump in loans and advances at 99,374 crore at end of the September quarter of this year. The lender’s loans and advances were 81,661 crore in the same period a year ago. The bank’s total deposits grew by 21% to 99,365 crore at end of September quarter 2022, as against 81,898 crore a year ago.
Ruchira Papers: The board of directors of Ruchira Papers has fixed a record date for bonus shares on 11th October 2022 and they have already approved and declared bonus shares in a 1:10 ratio which means one bonus share for every 10 shares of the company held by the shareholder on the record date. Bonus shares will be issued on an ex-date basis. Therefore, the small-cap stock will trade ex-bonus on 10th October 2022 i.e. on Monday.
State Bank of India: The State Bank of India (SBI) has lined up a number of non-performing assets for sale this month and to recover over 746 crore. Accounts of Sintex BAPL with an outstanding of 197.74 crore, Surat Hazira NH6 Tollway Pvt Ltd of exposure of 335.54 crore and Shreebhav Polyweaves Pvt Ltd ( 20.20 crore) will be included in the auction of NPAs.
Suzlon Energy: Suzlon Energy on Friday announced the appointment of Vinod R Tanti as its Chairman and Managing Director with immediate effect for the next three years. The appointment of Vinod Tanti comes after the sudden demise of his brother and Suzlon Energy founder Tulsi Tanti, who was holding the position of Chairman and Managing Director.
IOL Chemicals and Pharmaceuticals: IOL Chemicals and Pharmaceuticals (IOL) on Friday announced it has received REACH certification for the supply of ethyl acetate across European markets. The company exports ethyl acetate to more than 40 countries, it said in a statement. IOL also announced the appointment of REACHLaw as its Only Representative (OR) to assist the company in broadening its arms and expanding its territory in the European nations.
PNB Housing Finance: PNB Housing Finance on Friday announced the appointment of Vinay Gupta as the Chief Financial Officer. The appointment will be effective from October 26, it said in a regulatory filing. Gupta’s appointment follows the resignation of Kapish Jain as the CFO in April this year. The interim CFO Kaushal Mithani had resigned in August. Currently, Gupta is associated with SBI Cards and Payment Services.
Tata Power: Tata Power on Friday said it plans to develop around 10,000 MW of renewable energy capacity, mainly solar energy, in the next five years in Rajasthan, and also build a robust electric vehicle charging infrastructure. “Tata Power plans to have a renewable power portfolio of 10,000 MW in the state of Rajasthan in the next five years,” a company statement said.
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