Home >Markets >Stock Markets >Stock market update: JSW Steel, Punjab Sind bank, Kaveri Seed in focus today

JSW Steel: Sajjan Jindal-promoted JSW Steel raised $400 million in overseas debt on Tuesday. The 5.5-year non-convertible dollar-denominated debentures were priced at a yield of 5.375%, a person aware of the development told Mint.

SBI Life: Market regulator Sebi has pulled up SBI Life insurance for not complying with minimum public shareholding (MPS) norms and directed the insurer to be cautious in the future."The company and BNP Cardif may note that the dilution of shareholding beyond the permissible limit is not in compliance with provisions of the said circular and hence, such dilution would not be counted towards achieving MPS threshold," SBI Life said in a regulatory filing quoting the letter of Securities and Exchange Board of India (Sebi).

Bank of Baroda: A special court on Tuesday sentenced a former senior manager of the Bank of Baroda and two others to one-year imprisonment for cheating the public sector bank of 2 crore in 2006 by fraudulently processing and availing a trade loan.

Banking stocks: Shares of banks will be in focus after the Reserve Bank of India (RBI) put severe curbs on Punjab and Maharashtra Co-operative (PMC) Bank on Tuesday. India Ratings and Research Pvt. Ltd said that mergers proposed in public sector banks hurt credit growth due to asset-quality pressures.

Auto stocks: Shares of the auto companies likely to be in limelight as the automobile companies expect revival in sales number due to the upcoming festive season. Mahindra and Mahindra managing director Pawan Goenka said on Tuesday that there was a sign of revival in the automobile sector, and the coming festive season will be "decisive".

"The automobile sector was sluggish since last 12 months. But with the Centre's slew of measures to give a fillip to economy since July 6, we are seeing the sluggishness giving way to positivity," Goenka said. There was a hope for revival of automobile market with the onset of Navratra (Durga Puja) following good rainfall in large parts of the country and improvement in banks' finances, he added.

DLF: Gurgaon-based luxury malls developer, DLF is planning to focus more on food and beverages and allocate around 20% of space to the dining options across its project offerings, a senior company official said.

Trent: Tata group's retail chain Trent Ltd will acquire 51% stake in Booker India Pvt Ltd (BIPL) in a cash deal of around 22 crore, a regulatory filing said. Trent in the filing to BSE on Tuesday said the acquisition would help in business expansion by adding six additional stores.

Punjab Sind Bank: State-owned Punjab & Sind Bank on Tuesday said the board has approved capital infusion of up to 800 crore by the government.

Kaveri Seed Company: The board of directors of the company on 24 September approved buyback proposal.

InfoBeans Technologies: The company informed NSE about the acquisition of Philosophie Group Inc. through its wholly-owned subsidiary.

RPP Infra Projects: The firm received new order of 414 crore in Myanmar.

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