Stocks to Watch: Adani Ports, UPL, Tata Power, BPCL, Reliance, IndusInd Bank
3 min read . Updated: 16 Sep 2022, 07:29 AM IST
Premium- RBL Bank and Indiabulls Housing Finance Ltd to remain under the F&O ban list on Friday. 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.
Here is the list of top 10 stocks that will be in focus today:
Adani Ports: Adani Ports has signed a concession agreement with the Syama Prasad Mookerjee Port, Kolkata (SMPK) for the mechanisation of Berth no. 2 at Haldia Port. Karan Adani, CEO and Whole Time Director of Adani Ports and Special Economic Zone Limited (APSEZ) said the mechanization and upgradation of the Haldia Bulk Terminal will provide the company to establish its footprints in West Bengal.
UPL: Agrochemical firm UPL Ltd on Thursday said it has acquired a 26% stake in Clean Max Kratos Pvt Ltd, which is into renewable energy. Clean Max was incorporated on July 28 with paid-up capital of ₹1 lakh. The company, which is into solar/wind power generation, is yet to commence operations. In a regulatory filing, UPL Ltd said Clean Max Kratos would develop and maintain a hybrid 28.05 MW solar and 33 MW wind power project under the captive model as envisaged under the electricity laws.
Tata Power: Tata Power Transmission and Direction (T&D) Services to invest ₹5,000 crore over the next five years to support the Odisha government’s vision of Make in Odisha via reliable and quality power supply to industries. The announcement comes after Odisha's Chief Minister Naveen Patnaik appealed to investors to take advantage of the state's conducive business ecosystem.
BPCL: Union Minister for Petroleum and Natural Gas Hardeep Puri has said that the disinvestment plans for Bharat Petroleum Corporation Ltd, India's second-largest oil refining and fuel retailing firm, are not on the table as of now. Last month, the government said that it will decide on re-initiating the process of BPCL strategic sale based on a review of the situation in due course.
Reliance Industries: Reliance Retail Ltd has sought shareholders' approval for doubling its borrowing limit to ₹1 lakh crore. The proposal will be put up before the shareholders during the company's Annual General Meeting (AGM) to be held on September 30. In September last year, the shareholders had approved borrowing a sum not exceeding ₹50,000 crore. During its meeting on May 5, 2022, the company's board proposed to increase the borrowing limit "by a sum not exceeding ₹1,00,000 crore".
IndusInd Bank: IndusInd Bank has approved the reappointment of Sumant Kathpalia as the managing directorate and chief executive officer for three more years subject to the RBI's approval. Pursuant to the recommendation of the Compensation and Nomination & Remuneration Committee, the board of directors of the bank at its meeting held Thursday considered and approved the re-appointment of Kathpalia as the Managing Director & CEO of the Bank, the bank said in a regulatory filing.
PVR: Three investors offloaded their holding in the multiplexes operator PVR on Thursday in the open market. Gray Birch Investment exited the company, while Plenty PE firms sold a certain portion of their stake in PVR. Together, the three investors sold 40,45,501 equity shares in PVR amounting to ₹759.14 crore. The company's market cap is around ₹11,267.30 crore.
Fairchem Organics: Billionaire Prem Watsa-backed Fairfax India Holdings Corp. is looking to sell its majority stake in speciality chemicals manufacturer Fairchem Organics Ltd, three people aware of the development said. A transaction may value the publicly listed company at a 25-30% premium to its market capitalization, one of the three people said, adding Fairfax has hired Bank of America (BofA) as an adviser for the deal.
J&K Bank: Jammu & Kashmir Bank's proposal to raise capital by issuing shares to staff members under the employee stock option plan was rejected by the shareholders in the annual general meeting held in late August. In a regulatory filing on Thursday, the bank released the minutes of the 84th annual general meeting (AGM) held on August 24, 2022. The bank had proposed to issue 2 crore shares of the face value of Re 1 each under J&K Bank under the J&K Bank Employee Stock Option Scheme–2022.
SBI Cards: SBI Cards and Payment Services (SBI Card) has raised ₹500 crore by issuing bonds on a private placement basis. The pure-play credit card issuer said it allotted 5,000 fixed rate, unsecured, taxable and redeemable bonds on Thursday, in the nature of non-convertible debentures of ₹10 lakh each aggregating to ₹500 crore. The tenure of the bonds is three years and is set to mature on September 15, 2025. The bonds bear a coupon of 7.39% per annum.
