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Business News/ Markets / Stock Markets/  Stocks to Watch: Tata Power, Maruti Suzuki, TVS Motor, ONGC, IDFC

Stocks to Watch: Tata Power, Maruti Suzuki, TVS Motor, ONGC, IDFC

RBL Bank has been put on the list of banned securities under the F&O segment for Thursday trading as it has crossed 95% of the market-wide position limit. Websol Energy System and Consolidated Construction Consortium will be declaring their June quarter results and thus will be in focus.

Stocks to WatchPremium
Stocks to Watch

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

Tata Power: A Tata Power arm has raised USD 320 million through Sustainability Linked Loans (SLL) to refinance its debt. The SLLs are typically available up to 0.25% cheaper than conventional loans, finance industry watchers said. The loan raised by Tata Power's overseas arm is a three-year tenor loan meant for general corporate purposes. The company has committed to certain Key Performance Indicators (KPI) in order to get the loan recognised as SLL.

Maruti Suzuki: Maruti Suzuki India on Wednesday said it is recalling 166 Dzire Tour S units to replace faulty airbag components. The affected lot of the compact sedan has been manufactured between August 6 and August 16 this year, the country's largest carmaker said in a regulatory filing. "The recall is being undertaken to replace Airbag Control Unit, free of cost, in these vehicles," it added.

TVS Motor: TVS Motor Company on Wednesday said it will acquire a 48% stake in Narain Karthikeyan’s pre-owned two-wheeler startup 'DriveX' for a consideration of 85 crore. The company said it will acquire a 48.27% stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand ‘DriveX’. Founded by Formula 1 driver Karthikeyan, DriveX is into leasing of two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters.

Mahindra Logistics: Mahindra Logistics is set to come up with the third and last unit of its warehousing facilities in Luhari in the Delhi-NCR region besides adding two more in Bhiwandi and Nashik in the current quarter of this fiscal, a senior company official has said. The company is now also looking beyond the major cities for enhancing its warehousing footprint in the second phase of its network expansion as it sees a surge in demand from smaller cities such as Lucknow, Patna and Guwahati, among others.

IDFC: IDFC Limited on Wednesday announced that its board of directors has approved the appointment of Mahendra N Shah as the managing director (MD) of the company with effect from October 1, 2022. The term of Sunil Kakar as Managing Director and CEO of the Company will end at the close of business hours on September 30, 2022. Shah is the Company Secretary & Compliance Officer of IDFC Limited since May 24, 2019.

ONGC: Oil and Natural Gas Corporation (ONGC) has relaunched a tender to sell gas from its KG fields at a higher price of USD 15 per mmBtu as it looks to capitalise on a global surge in energy prices. The firm sought bids for the sale of 0.75 million standard cubic meters per day of gas for one year from the KG-DWN-98/2 (KG-D5) fields in the Bay of Bengal, according to the tender document.

Bandhan Bank: Bandhan Bank will open 551 more branches in 2022-23 fiscal, as a part of the lender's focus to make its distribution stronger in other parts of India outside the eastern region, MD & CEO Chandra Sekhar Ghosh said. With the latest addition, the Kolkata-headquartered bank's branch count will exceed 6,000, he said.

Lupin: Lupin on Wednesday said it has received approval from the USFDA for Formoterol Fumarate Inhalation Solution, used in treating symptoms of chronic obstructive pulmonary disease. The company has received approval from the US Food and Drug Administration (USFDA) for the product which is a generic version of Mylan Specialty's Perforomist Inhalation Solution, the Mumbai-based drug maker said in a statement.

Wipro: IT company Wipro Limited on Wednesday announced the appointment of Wagner Jesus as country head and managing director for operations in Brazil. Wagner joined Wipro three years ago, taking the lead in the non-financial business cluster. Wagner holds a management certification from Harvard Business School, a Master's in Business Administration (MBA) by FIAP, Brazil and a bachelor's degree in Computer Science from Vale do Paraiba University, also in Brazil.

Vedanta: Oil-to-metals conglomerate Vedanta Ltd on Wednesday said that it will not prune its USD 2 billion capex target for the current financial year despite falling metal prices. Vedanta has planned a total investment of around USD 2 billion in its zinc, oil and gas, and aluminium businesses in FY23. "We are going ahead (with the capex target for the current fiscal). We cannot stop the project in between and these are all the brownfield projects where the returns are very good and this will make our operation more effective, more productive, more efficient," Vedanta's Chief Executive Officer Sunil Duggal said.



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Published: 25 Aug 2022, 07:27 AM IST
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