Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Markets / Stock Markets/  Stocks to Watch: RIL, Adani Group, IndiGo, Tata Steel, Bank of India, Paytm

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

Reliance Industries: Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion. The discussions of India's largest retailer with investors are part of an internal target to raise $3.5 billion which the company wants to close by the end of this month, according to a report by news agency Reuters. Out of that, QIA last month announced a $1 billion investment and KKR & Co this week $250 million.

Adani Group: The Adani Group is in talks with global banks to refinance debt taken on to fund its purchase of Ambuja Cements Ltd, with lenders divided into three categories, in what could be one of Asia’s largest syndicated loan deals of the year. The global banks are likely to refinance a total of $3.5 billion, according to a report by Bloomberg News. The ports-to-power conglomerate would repay at least $300 million on the original Ambuja facility.

InterGlobe Aviation: Interglobe Aviation - the operator of low-cost IndiGo airlines, has received approval from the DGCA to wet-lease 11 A320 aircraft, according to CNBC-TV18. This comes amid IndiGo grounding nearly 40 planes due to a Pratt & Whitney engine issue, the report said. Earlier this week, Pratt's owner RTX had said that it would have to pull a total of 600 to 700 engines off their Airbus A320neo jets for lengthy quality inspections between 2023 and 2026.

Tata Steel/JSW Steel/SAIL: Rating agency Icra on Wednesday revised upwards its growth estimate for the domestic steel industry to 9-10 per cent this fiscal, on account of the robust government capital expenditure. It had estimated the steel industry to grow in the range of 7-8 per cent at the start of the current 2023-24 fiscal, the rating agency said in a statement.

Bank of India: Public sector undertaking lender Bank of India on 13 September announced that it has raised Basel III compliant Tier II bonds of 2,000 crores at 7.88 per cent per annum. Informing about the updates, the PSB issued a press release saying the fundraising was done through NSE’s Electronic Bidding Provider Platform. Informing more, the BoI said that it received a total of 83 bids amounting to 3,770 crores.

One97 Communications: Digital payment services provider Paytm on Wednesday said its shareholders have approved the appointment of a new statutory auditor, S.R. Batliboi & Associates LLP, for five years. S.R. Batliboi & Associates LLP has been approved as the new statutory auditor of Paytm for five years in the 23rd annual general meeting held on September 12, Paytm said in an exchange filing.

Suven Pharmaceuticals: The government on Wednesday approved an FDI of up to 9,589 crore in Suven Pharmaceuticals by Cyprus-based Berhyanda Ltd to fund capacity expansion of the Indian pharma company and also generate new jobs. The proposal has been evaluated by SEBI, RBI, CCI and other relevant agencies, said an official release after the meeting of the Cabinet Committee on Economic Affairs (CCEA).

Bombay Dyeing: Wadia group-owned Bombay Dyeing and Manufacturing said it has agreed to sell 22 acres in Worli to Goisu Realty Pvt, a subsidiary of Sumitomo Realty & Development Company Limited, for 5,200 crore in one of Mumbai's largest land deals to repay debt and fund future projects. The company in an exchange filing said its board of directors approved the proposal to sell the land parcel of about 22 acres in Worli in two phases, for a total consideration of about 5,200 crores.

Power Finance Corporation: State-owned Power Finance Corporation (PFC) has received shareholders' approval to issue bonus shares by capitalising up to 660.02 crore in its securities premium account. The PFC had proposed to issue bonus shares by capitalising securities premium account to the extent that each shareholder is entitled to a new equity share of 10 each for every four equity shares of 10 each.

Spencer's Retail: RP-Sanjiv Goenka Group arm Spencer's Retail Ltd on Wednesday said it will close 10 loss-making stores in Tamil Nadu by the end of the month. This is part of the process of evaluating the performance of all stores on a regular basis, Spencer's Retail said in a regulatory filing. It "has decided to close down its 10 loss-making stores in Tamil Nadu by September 30. These stores contributed 1.2 pc of the consolidated revenue of the company in 2022-23," the company said.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 14 Sep 2023, 07:45 AM IST
Next Story
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App