Home / Markets / Stock Markets /  Stocks to Watch: ACC, Ambuja Cements, HDFC Life, Hero MotoCorp, REC

Here is the list of top 10 stocks that will be in focus today:

ACC: The Adani family on Friday said it has completed the acquisition of ACC Ltd and has become the country's second-largest cement player. Adani family, through their special purpose vehicle Endeavour Trade and Investment Ltd, completed the acquisition after completing the transaction with Swiss firm Holcim and an open offer, said a statement. "The transaction involved the acquisition of Holcim's stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations," it said.

HDFC Life: The National Company Law Tribunal (NCLT) on Friday approved the merger of Exide Life Insurance with HDFC Life Insurance. The Scheme of Amalgamation was approved by the Mumbai bench of NCLT, HDFC Life Insurance said in a regulatory filing. Earlier this year, HDFC Life had announced the acquisition of a 100% stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore shares at an issue price of 685 and a cash payout of 726 crore, aggregating to 6,687 crore.

Ambuja Cements: Ambuja Cements, which has been acquired by the Adani family, has called for an extraordinary general meeting with its shareholders on October 8. In the EGM (Extraordinary General Meeting), Ambuja Cements will seek shareholders' approval for the appointment of Gautam Adani and others on the board and a 20,000 cash infusion in the company through preferential allotment of warrants.

Hero MotoCorp: The country's largest two-wheeler maker Hero MotoCorp is all set to foray into the electric segment next month with the launch of its first model in the domestic market. In a regulatory filing, the company said that "a new era in mobility is about to begin" alluding to an event under its Vida brand on October 7, 2022. The two-wheeler major has issued invites to its dealers, investors and global distributors for the event to be held in Jaipur, Rajasthan.

REC: Centre is considering granting the status of a development finance institution (DFI) to REC Ltd to enable the state-run company to steer global climate funding and net zero investment in the country. The estimated fund requirements for transitioning towards a net zero economy would be around $3.5 trillion till FY2050 and around $10 trillion till 2070 out of which a large share of investment will be required in the power sector

SBI: State Bank of India (SBI) on Friday said SBI Global Factors Ltd has become its 100% subsidiary as the country's biggest lender has acquired about 14% stake from other shareholders. SBI has acquired 13.82% equity of existing shareholders i.e., SIDBI (6.53%), Bank of Maharashtra (4.34%), and Union Bank of India (2.95%), a regulatory filing said.

ONGC: The government on Friday lowered the windfall tax on the sale of domestic crude oil by a sharp 21% to 10,500 a tonne in line with the reduction in global oil prices seen in the last fortnight, showed an official order. For over two weeks, the sale of crude oil produced in India attracted an additional duty of 13,300 per tonne

Adani Power: Adani Power on Saturday said its promoter entity Adani Properties has withdrawn a proposal to delist the company due to non-receipt of in-principle approval of stock exchanges. The company in a regulatory filing stated that it has received a letter from a member of the promoter group seeking withdrawal of the delisting offer. The company shall be taking necessary steps including inter alia noting and taking on record the Delisting Withdrawal Letter by the Board of Directors of the company, it stated.

Yes Bank: Yes Bank on Saturday said its shareholding of 8.74 per cent in Jhabua Power has been extinguished following the debt resolution of the company under the corporate insolvency process. Yes Bank had acquired 12,63,50,146 equity shares representing 8.74 per cent of the share capital of Jhabua Power pursuant to invocation of pledge. The existing equity share capital held by the existing lenders stands extinguished and settled with effect from the transfer date without liabilities, claims or obligations whatsoever against the company, Yes Bank said in a regulatory filing on Saturday.

Maruti Suzuki: Maruti Suzuki India on Friday said it will recall 5,002 units of its light commercial vehicle Super Carry to inspect and fix a faulty co-driver seat. The affected lot has been manufactured between May 4 and July 30, 2022, the country's largest carmaker said in a regulatory filing. "The recall is being undertaken for inspection and torquing of a bolt attached to seat belt buckle bracket of co-driver seat," it said.


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