BackStock to Watch: Tamilnad Mercantile Bank, Tata Steel, Vedanta, Adani Wilmar
Delta Corp, RBL Bank and Indiabulls Housing Finance Ltd to remain under the F&O ban list on Wednesday. These stocks will be under the ban for the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.
PremiumHere is the list of top 10 stocks that will be in focus today:
Tamilnad Mercantile Bank: The bank is all set to make its debut on BSE and NSE today. The initial public offering (IPO) of Tamilnad Mercantile Bank was subscribed 2.86 times at the end of the three-day window. The company had set a price band of ₹500-525 per share for the IPO. The Thoothukudi (formerly Tuticorin)-based private lender plans to utilise the money raised through the IPO to augment its tier-I capital base to meet its capital requirements.
Tata Steel: Domestic steel maker Tata Steel on Wednesday said its committee of directors decided has approved raising ₹2,000 crore through allotment of non-convertible debentures (NCDs) on a private placement basis. In a filing to the BSE, the company said the committee has approved the issue of debt securities in the form of NCDs. “20,000 NCDs of face value ₹10,00,000 each aggregating to ₹2,000 crore, to be issued in two different series (Series 1 Debenture aggregating to ₹500 crore and Series 2 Debenture aggregating to ₹1,500 crore)."
Vedanta: Vedanta Resources, which has the single largest investment of ₹80,000 crore in Odisha, on Wednesday said it plans to pump in another ₹25,000 crore for expansion of its aluminium, ferrochrome and mining businesses in the state. With this quantum of investment, it is contributing nearly four per cent to Odisha’s state GDP through its operations (direct and indirect), a company statement said.
Adani Wilmar: Adani Wilmar Ltd., the kitchen essentials firm owned by Gautam Adani, is scouting for local and overseas acquisition targets as Asia’s richest man doubles down on boosting his empire’s food operations “We are looking at acquiring brands in staple foods and distribution companies to boost our consumer goods offering and reach," Angshu Mallick, chief executive officer and managing director at Adani Wilmar, said in an interview Wednesday. “We are expecting to conclude a couple of acquisitions by March."
IDBI Bank: The government will seek expressions of interest to sell its stake in IDBI Bank soon, a top official said, in the first case of privatising a public sector bank in India. IDBI bank will witness first-of-its-kind privatisation in the banking sector as the government will soon seek expression of interest for stake sale marking progress in the disinvestment.
HFCL: The Indian telecom company, HFCL on Wednesday received advance purchase orders aggregating to ₹447.81 crore from Bharat Sanchar Nigam Limited (BSNL) and RailTel Corporation of India Limited (RailTel). The company plans to execute the orders in less than a year. Of the total ofRs 447.81 crore, the order from BSNL amounted to ₹341.26 crore. Meanwhile, the remaining advance purchase order of ₹106.55 crore was for 180 railway stations under the western region of RailTel for and on behalf of Indian Railways.
Bharat Electronics: Government-owned Bharat Electronics' (BEL) record date for the bonus issue of its equity shares that it had recommended in the ratio of 2:1 is this week on Friday, September 16, 2022. The stock thus will start trading ex-bonus today, a day ahead of the record date.
Tata Power: Tata Power on Wednesday said that it has inked a pact to develop a 4-MWp solar project at Tata Motors' Pune plant. "Tata Motors and Tata Power have entered into a Power Purchase Agreement (PPA) to develop a 4-MWp on-site solar project at Tata Motors' Pune commercial vehicle manufacturing facility," a BSE filing said. The installation is collectively expected to generate 5.8 million units of electricity, potentially mitigating over 10 lakh tonnes of carbon emission. This is equivalent to planting over 16 lakh teak trees over a lifetime, it stated.
KPI Green Energy: KPI Green Energy on Wednesday said it has inked power purchase agreements to supply a total of 15.88 MW wind-solar hybrid power from its projects to six companies. The companies will be supplied power from the upcoming Wind-Solar Hybrid power project (comprising 16.10MW wind and 10 MW, solar capacity) at Bhungar site in Bhavnagar district of Gujarat, under the Gujarat Hybrid Power Policy 2018, it stated
Glenmark Life Science: Leading developer and manufacturer of Active Pharmaceutical Ingredients (APIs), Glenmark Life Sciences shares will turn ex-dividend today ahead of the record date. The company will pay a final dividend to the tune of 525% to eligible shareholders for fiscal FY22. To determine the eligible shareholders for the dividend benefit, Glenmark Life Sciences in its AGM notice said, "payable to those Members whose names appear in the Register of Members and list of beneficial owners at the close of business hours on Friday, 16 September 2022."
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