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Home / Markets / Stock Markets /  Stocks to Watch: ONGC, Gail India, M&M, Wipro, Adani Green
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Here is the list of top 10 stocks that will be in focus today

ONGC: State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday signed a Heads of Agreement (HoA) with global oil giant ExxonMobil Corp for exploration of oil and gas in the deepsea on the country's east and west coasts. The two oil explorers would focus on the Krishna Godavari and Cauvery basins in the eastern offshore and the Kutch-Mumbai region in the western offshore, ONGC said in a release.

GAIL: Gail India has received the board approval for fundraising of $3.125 billion from external commercial borrowing and up to 25,000 crore via NCD or non-convertible debentures. The company has already borrowed 25,000 crore and this will be additional fundraising.

M&M: Mahindra & Mahindra has initiated talks with various state governments in India to set up manufacturing infrastructure for its upcoming range of electric sports utility vehicles, according to a top company official. The automaker, which has lined up five new electric Sports Utility Vehicles (SUVs) with the first four expected to hit the roads between December 2024 and 2026, will evaluate incentives offered by different state governments before finalising the strategy for the production of these EVs.

Wipro: Wipro holds back April-June quarterly variable payouts for mid, senior-level employees, according to reports. Wipro said there were no changes in the salary increase and hikes and they will be effective from September. Wipro's move to pause variable pay and defend margins comes amid fears of a possible recession in the US. The tech firm said it has completed its first cycle of quarterly promotions.

Adani Green Energy: Sri Lanka has granted provisional approval to Adani Green Energy for two wind projects of 286 MW and 234 MW for an investment of over USD 500 million in the country’s Northern province, Energy and Power Minister Kanchana Wijesekara announced on Wednesday. Wijesekara said in a tweet that he met officials of the state-owned Ceylon Electricity Board (CEB) and Sustainable Development Authority on Tuesday to discuss the progress of renewable energy projects.

Reliance: Telecom subscriber base in the country grew marginally to 117.29 crore in June with Reliance Jio adding the maximum number of new customers, according to data released by sector regulator Trai on Wednesday. There were 117.07 crore subscribers in May 2022. Reliance Jio's wireless subscriber base grew to 41.3 crore with the net addition of 42.23 lakh customers.

RBL Bank: RBL Bank on Wednesday said it has offloaded over 12% stake in Kilburn Engineering since May for a total consideration of over 17 crore. The private sector lender had acquired 67,50,000 equity shares of Kilburn Engineering (Kilburn) under a debt recast plan. This represented 19.67% share capital of the company, as part of a conversion of loans outstanding under the debt restructuring plan by RBL Bank in February 2021, and subject to lock-in for one year.

J&K Bank: Jammu & Kashmir Bank is looking to raise up to 2,000 crore this fiscal through a mix of debt and equity as it sees loan demand picking up due to increased economic activity. The union territories of Jammu and Kashmir and Ladakh are witnessing "unprecedented growth" with over 1 crore tourists visiting the region during January-July, J&K Bank Managing Director and Chief Executive Officer Baldev Prakash said in an earnings call.

Unitech: The Supreme Court on Wednesday asked the board of management of Unitech Group to upload on its website the timeline for completion of its stalled projects for the benefit of the hassled home buyers. It also asked the board to upload within 48 hours the newly revised payment plan under which the home buyer is required to make payments and asked the flat buyers to give their suggestions or feedback, if any, to the board of management, which would facilitate the court in passing the orders in this regard.

Bank of Baroda: BoB on Wednesday said it has raised 1,000 crore through the issuance of bonds for financing infrastructure and affordable housing projects. The bonds, with a tenure of seven years, will offer a coupon rate of 7.39 per cent, it said in a regulatory filing. Bonds were allotted to investors on Wednesday and the proceed would be utilised for financing infrastructure and affordable housing projects.

 

 

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