Business News/ Markets / Stock Markets/  Stocks to Watch: Bank of Baroda, Paytm, SpiceJet, Reliance, L&T

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

SpiceJet: SpiceJet on Friday said it has received an extension of up to three months for conducting its annual general meeting for the financial year ended March 2022. Now, the Annual General Meeting (AGM) for the last financial year will be held on or before December 31, 2022. The budget carrier announced its results for 2021-22 fiscal along with June quarter results on August 31.

Bank of Baroda: Bank of Baroda has raised 2,474 crore by issuing bonds at the rate of 7.88% through stock exchanges. The bank allotted a total of 2,474 unsecured Basel III additional tier I perpetual non-convertible bonds, valuing 1 crore each on Friday. The bonds are rated AAA with a stable outlook by Icra and India Ratings, the bank said in a regulatory filing.

Reliance: Reliance Retail Ventures Ltd (RRVL) has bought a controlling stake in makeup and personal care brand Insight Cosmetics, said two people aware of the deal, marking the entry of the billionaire Mukesh Ambani-owned company into the cosmetic business. The deal was valued at $10-15 million, one of the people said, requesting anonymity. The person declined to elaborate on the transaction. Insight Cosmetics was launched by Mumbai-based entrepreneur Dinesh Jain in 2001.

Yes Bank: The Ritz Carlton hotel in Bengaluru, developed by NEL Holdings South Ltd (formerly Nitesh Estates), could see a change in ownership as Yes Bank plans to take over the property over non-payment of 300 crore in loans. Once it takes over the property, Yes Bank will either sell it to a new buyer or seek a suitor when it petitions the National Company Law Tribunal, two executives familiar with the development said, requesting anonymity.

Paytm: Digital financial services firm One97 Communications, which operates under the Paytm brand, on Sunday denied any link with the merchants that are under the Enforcement Directorate scanner in the Chinese loan app case. Paytm said that none of the funds frozen by the Enforcement Directorate (ED) belongs to it or any of its group firms. The company said that it seeks to clarify that these merchants are independent entities.

Petronet LNG: Petronet LNG Ltd, India's biggest gas importer, will invest 40,000 crore in the next five years for expanding import infrastructure as well as foraying into a new business to boost profitability to 10,000 crore. Petronet, which operates two liquefied natural gas (LNG) import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm's latest annual report.

L&T: The Hindustan Aeronautics Limited-L&T consortium has won a 860 crore deal from NewSpace India Limited to build five rockets, marking the industry's maiden foray into end-to-end production of Polar Satellite Launch Vehicles (PSLVs). The contract is for manufacturing five PSLV rockets, the versatile workhorse launch vehicle of India, sources told PTI. After the techno-commercial evaluation of three bids, the HAL-L&T consortium had emerged as the technically qualified and the L1 bidder to undertake end-to-end production of PSLV.

NTPC: NTPC has registered a 62% growth in coal production from its captive mines, the state-run power producer said on Friday. NTPC continues to demonstrate an increasing trend in coal production from its captive mines, a company statement said. The coal production in this fiscal till August 2022, was 7.36 MMT, posting a robust growth of 62% when compared to 4.55 MMT achieved in the same period of the last year, it stated.

Hindustan Zinc: Vedanta group firm Hindustan Zinc on Saturday said it has entered into a pact with special purpose vehicle Serentica Renewables India 4 Pvt Ltd for the delivery of renewable power on a long-term basis. The SPV has been formed in a bid to supply power over the long term to the company. The delivery of renewable power would be for a capacity of up to 200 MW. This project will be funded on a 70:30 debt-to-equity basis.

Stylam Industries: Lighthouse Emerging India on Friday offloaded 5 lakh shares of laminate maker Stylam Industries Ltd for over 56 crore through an open market transaction. According to the bulk deal data available with BSE, Lighthouse Emerging India Investors Ltd sold 5,00,000 shares or a 2.95% stake in the company. The shares were offloaded at an average price of 1,126.67 apiece, taking the transaction value to 56.33 crore.




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Updated: 05 Sep 2022, 07:36 AM IST
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