Stocks to Watch: HDFC, ICICI, IDBI Bank, TVS Motors, JSW Infra, Delhivery

Here are the top stocks that could be in focus in today's trade:

HDFC/ICICI/SBI Cards/Bajaj Finance: The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. A higher risk weight means that lenders need to set aside more funds as a safety net for consumer loans, which could make such credit more expensive.

IDBI Bank: Department of Investment and Public Asset Monetisation (DIPAM) secretary Tuhin Kanta Pandey on Thursday said the disinvestment in IDBI Bank Ltd may not be completed in the current fiscal year. Pandey said that the transaction is “on course" but there are aspects like the RBI's fit and proper criteria which need to be complied with. “We practically don't think that before March, we can conclude it (IDBI Bank stake sale)," he said.

TVS Motors: To mark its entry into the European market, TVS Motors signed an agreement with Emil Frey for the import and distribution of two-wheelers, the company said in its stock exchange filing on Thursday. The Zurich-based Emil Frey is one of the largest automobile importers and retailers in Europe with strong ties with leading automotive brands across the region. Under the agreement, Emil Frey will be responsible for the distribution of TVS products in selected countries.

JSW Infrastructure: Sajjan Jindal-led JSW Infrastructure Ltd on Thursday announced it has acquired the rights to develop a greenfield port in Karnataka with an initial capacity of 30 million tonnes per annum (mtpa). The project is set to be completed in the next five years. The company emerged as the winning bidder for developing the all-weather, deep-water Keni port on a public-private partnership basis at a cost ₹4,119 crore. It will operate the project for 30 years.

Delhivery: Japan’s SoftBank Group Corp. will sell shares worth $154 million ( ₹1,250 crore) in Delhivery in a block deal on Friday, a term sheet for the transaction showed. The investment firm will continue to hold 10-11% in the new-age logistics firm after the sale. SVF Doorbell (Cayman) Ltd, an entity owned by Masayoshi Son-led SoftBank, will sell 31 million shares at ₹403.5-413.85 each, a discount of not more than 2.5% to Thursday’s closing. Kotak Securities Ltd will manage the transaction.

UCO Bank: UCO Bank on Thursday said it has recovered ₹649 crore or 79% of the ₹820 crore erroneously credited to some account holders of the bank via Immediate Payment Service (IMPS). In a regulatory filing, the bank said that by taking various proactive steps, it blocked the recipients' accounts and has been able to recover ₹649 crore out of ₹820 crore. The bank has initiated requisite actions to recover the balance amount of ₹171 crore, it added.

SJVN: State-owned power producer SJVN Ltd on Thursday said it has signed a pact with Solar Energy Corporation of India to supply 200 MW of wind power. The power producer has signed a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Ltd (SECI), SJVN Chairman & Managing Director Nand Lal Sharma said in a statement.

Axis Bank/Manappuram/Anand Rathi Global Finance: The Reserve Bank has imposed monetary penalties on Axis Bank, Manappuram Finance, and Anand Rathi Global Finance for deficiencies in regulatory compliance. The banking regulator in a release on Thursday said it has imposed a monetary penalty of 90.92 laksh on Axis Bank and ₹42.78 lakh on Manappuram Finance Limited. Separately, the RBI imposed a monetary penalty of ₹20 lakh on Anand Rathi Global Finance Limited.

JSW Steel: JSW Steel on Thursday said it has withdrawn the application to surrender one of its iron ore mines in Odisha's Keonjhar. The company had in September submitted a notice to surrender the mining lease of the Jajang iron ore mine, which it had acquired through auction. "The company upon considering demand and supply scenario of iron ore in India, has today withdrawn its application for the Final Mine Closure Plan submitted on 1st September 2023 before the Indian Bureau of Mines," the company said in a filing to the BSE.

Brigade Enterprises: Realty firm Brigade Enterprises has entered into a partnership with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru with an estimated sales value of ₹2,100 crore. In a regulatory filing, Brigade Group said it has signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop around 2 million sq ft of residential project in Bengaluru with a Gross Development Value (GDV) of ₹2,100 crore.