BackStocks to Watch: HDFC Bank, Maruti Suzuki, Bajaj Finserv, Vedanta, ICICI Bank
The India Bulls Housing Finance securities have been put on ban under the F&O segment by the NSE for October 4. The company security has been placed under the list as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE
PremiumHere are the top stocks that could be in focus in today's trade:
HDFC Bank: HDFC Bank Ltd. is revamping some parts of top management as the Indian bank seeks to propel its mortgage business. It has brought IT and digital functions, led by Ramesh Lakshminarayanan directly under CEO Sashidhar Jagdishan as the bank leans on technology to offer more products and services across its branches. Ashish Parthasarthy a bank veteran, will get responsibility for the key retail branch business.
Maruti Suzuki: Automobile major Maruti Suzuki India on October 3 informed the stock exchanges that it has received a draft assessment order for pending dues amounting to ₹2,160 crore from the Income Tax department. The case pertains to the period of financial year 2019-20. The company, in response to the order, said it will file its objections before the Dispute Resolution Panel. The order will have “no impact on financial, operation or other activities of the company", it further noted.
Bajaj Finserv: Bajaj Allianz gets GST demand notice for ₹1,010 crore on Tuesday. It received the show cause cum demand notice from the Directorate of GST Intelligence for the non-payment of GST on co-insurance and re-insurance premiums, said Bajaj Finserv in its stock exchange filing on Tuesday. The company is expected to file an appropriate response to the said Show Cause Cum Demand Notice within the prescribed timelines.
Vedanta: Billionaire Anil Agarwal’s Vedanta Resources Plc is in advanced talks with JPMorgan Chase and Standard Chartered Bank (StanChart) to secure a $3 billion refinancing facility to stave off a default, people familiar with the development said. The top management of the mining and metals conglomerate held meetings with several large banks across Europe and the US over the past few weeks, the two people said, requesting anonymity.
ICICI Bank: Private sector lender ICICI Bank on Tuesday said it has raised ₹4,000 crore via bonds to fund business growth. The bank has allotted 4,00,000 senior unsecured redeemable long-term bonds in the nature of non-convertible debentures aggregating to ₹4,000 crore on a private placement basis and the date of the allotment being October 3, 2023, ICICI Bank said in a regulatory filing. The bonds are redeemable at the end of 10 years, it said.
Tata Motors: Tata Motors subsidiary Tata Technologies filed an addendum today with SEBI to its DRHP. One of the most-awaited IPOs on the Street, Tata Tech said it will offer 9.57 crore shares in its planned initial public offering (IPO) with a face value of ₹2 per share, according to the addendum filed with SEBI. As part of the Tata Tech IPO, Tata Motors will sell up to 8.11 crore shares via offer for sale, Alpha TC will sell up to 9.71 crore shares, and Tata Capital Growth Fund I will offer up to 48.58 lakh shares.
Nestle India: Fast-moving consumer goods company Nestle India will declare its second interim dividend for 2023, if any, while also considering a stock split at its board meeting later this month. In a filing with the exchanges on Tuesday, the company said a meeting of the board of directors is scheduled for Thursday, 19 October, to consider the financial results of the company for the third quarter and the nine months to 30 September.
Adani Enterprises: An Abu Dhabi firm controlled by a key member of the emirate’s royal family increased its shareholding in Gautam Adani’s flagship conglomerate to a little over 5%, days after selling stakes in two other companies owned by the Indian billionaire as part of a portfolio rejig. International Holding Co., through its units, bought an additional 0.06% stake in Adani Enterprises Ltd. to take its total shareholding to 5.04%, according to an exchange filing.
IDFC First Bank: Private sector bank, IDFC First Bank is reportedly planning to raise ₹3,000 crore via a qualified institutional placement (QIP), reported CNBC TV 18 citing sources. The report suggests that the private lender is likely to raise funds via QIP on October 3. Mint could not independently verify the report. So far, there has been no official announcement by the bank.
Titagarh Rail Systems: Titagarh Rail Systems Ltd (TRSL), formerly known as Titagarh Wagons Ltd, on Tuesday, inked a pact worth ₹857 crore with Gujarat Metro Rail Corporation. The contract is for the manufacturing of 72 standard gauge cars for the first phase of Surat Metro Rail. The order value for this project is approximately ₹857 crores. The execution of the project is slated to begin 76 weeks after the signing of the contract and is likely to be completed in 132 weeks thereafter.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
