2 min read.Updated: 26 Dec 2019, 08:27 AM ISTIshita Guha
HDFC will raise up to ₹2,500 crore by issuing bonds on a private placement basis
GAIL, after market hours on Tuesday, denied news reports on its plans to hive off it pipeline business into a separate entity
Here is a list of top 10 stocks that may be in focus on Thursday:
Yes Bank: Brickwork Ratings downgraded the ratings of the private lender’s lower Tier II Bonds from BWR AA- to BWR A, and of upper Tier II Bonds, hybrid Tier I Bonds and innovative perpetual debt instruments from BWR A+ to BWR A-.The credit rating agency maintained its negative outlook for the bank.
Bharti Infratel: The board, after market hours on Tuesday, again allowed more time to the company to secure a key government approval for its merger with Indus Towers Ltd. The company’s board had in October extended the long stop date to December 24 in order for the companies to secure this approval and to complete the merger announced in April 2018. Markets were closed on Wednesday due to Christmas.
HDFC: The company will raise up to ₹2,500 crore by issuing bonds on a private placement basis. The secured redeemable non-convertible debentures are to be allotted on a private placement basis on Friday for an issue size of ₹2,500 crore, according to regulatory filing, after market hours on Tuesday. The bonds will be offered at a coupon rate of 7.21% per annum.
NTPC: The state-owned company is likely to add 10 GW of solar energy generation capacity by 2022. This will involve an investment of around ₹50,000 crore to be funded mainly by green bonds, according to a PTI report. Currently, NTPC has installed renewable energy capacity of 920 MW, which constitutes mainly solar energy.
HCL Technologies: The IT company announced the opening of a global delivery center (GDC) in Moncton, New Brunswick, Canada. This will enable the tech company to expand its business in Canada. The company had first opened its Canada office in Toronto in 2009 and partnered with one of Canada’s largest railway companies.
Lupin: The pharmaceutical company announced that Frost & Sullivan’s India Manufacturing Excellence Awards has awarded the drug maker’s Ankleshwar facility ‘Future Ready Factory of the Year’ in the pharmaceutical sector large business category. The 2019 evaluation for the award was done on the basis of an organisation’s manufacturing capability, extended supply chain reliability and technology adoption.
GAIL: The public-sector company, after market hours on Tuesday, denied news reports on its plans to hive off it pipeline business into a separate entity. In a regulatory filing, it said that it is neither in the process of hiving off its pipelines business into a separate entity nor it has received any government directive on this.
TVS Motor: The two and three-wheeler maker announced the launch of TVS NTORQ 125 Race Edition, which comes with signature LED (light emitting diode) DRLs and LED headlamp. Additionally, the vehicle is equipped with hazard lamp that can be enabled by a red-coloured hazard switch. It has a chequered flag graphics along with the ‘race edition’ emblem on the vehicle.
Federal Bank: The Kerala-based private lender said its board approved an investment of ₹22 lakhs in Kerala Infrastructure Fund Management Ltd. The amount is more than 5% of the total paid-up capital of the fund management company.
JSW Steel: Notwithstanding Tuesday’s Cabinet approval for an ordinance to ring-fence successful bidders from criminal proceedings against offences committed by previous promoters, the country's second-largest private steelmaker JSW Steel Ltd may take another three months to complete its purchase of bankrupt Bhushan Power and Steel Ltd, according to a Mint report.
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