Nifty futures on the Singapore Exchange traded 19 points, or 0.11 per cent higher at 17,582, signaling that Dalal Street was headed for a positive start on Monday. Here are a dozen stocks which may buzz the most in today’s trade:
: The state run lender said SBI Global Factors has become its 100 per cent subsidiary as the country’s biggest lender has acquired about 14 per cent stake from other shareholders. SBI has acquired 13.82 per cent equity of existing shareholders of SIDBI (6.53 per cent),
(4.34 per cent), (2.95 per cent).
Hero MotoCorp: The country’s largest two-wheeler maker is all set to foray into the electric segment next month with the launch of its first model in the domestic market. The company said that a new era in mobility is about to begin alluding to an event under its Vida brand on October 7, 2022.
: The country’s largest car maker has decided to recall 5002 super carry vehicles manufactured between May 4 and July 30. The recall is being undertaken for inspection and torquing of a bolt attached to seat belt buckle bracket of co-driver seat. It is suspected that there is a possible defect in bolt torquing.
, ACC: The Adani family said it has completed the acquisition of Ambuja Cements & ACC and has become country’s second largest cement player. Adani family, through their special purpose vehicle Endeavour Trade and Investment, completed the acquisition after completing the transaction with Swiss firm Holcim and an open offer.
Adani Power: The Adani Group’s utility arm said its promoter entity Adani Properties has withdrawn a proposal to delist the company due to non-receipt of in-principle approval of stock exchanges. The company in a regulatory filing stated that it has received a letter from a member of the promoter group seeking withdrawal of delisting offer.
Yes Bank: The private lender said its shareholding of 8.74 per cent in Jhabua Power has been extinguished following debt resolution of the company under the corporate insolvency process. Yes Bank had acquired 12,63,50,146 equity shares representing 8.74 per cent of share capital of Jhabua Power pursuant to invocation of pledge.
Tata Power: Resurgent Power Ventures completed acquisition of South East UP Power Transmission Company (SEUPPTCL). Resurgent Power Ventures is a joint venture based out of Singapore, wherein 26 percent shareholding is held by Tata Power through its wholly owned Singapore based subsidiary.
, HDFC Life: The National Company Law Tribunal (NCLT) approved the merger of Exide Life Insurance with . The Scheme of Amalgamation was approved by the Mumbai bench of NCLT.
: The pharmaceuticals company’s buyback offer will open on September 27 and the offer will close on October 11. The company will buy back shares worth up to Rs 250 crore and the buyback price has been fixed at Rs 400 per share.
: Bimal Dayal has tendered his resignation as Managing Director and CEO of the company and as a Director from the Board. Tejinder Kalra, the Chief Operating Officer and Vikas Poddar, the Chief Financial Officer will be jointly responsible for the functioning of the company under the guidance of the board and the Chairman.
REC: The state-owned power sector finance company said that the government is considering a proposal to accord the firm the status of a development financial institution. REC Limited, under the ministry of power, is being considered for the status of a Development Financial Institution (DFI) by the government of India.
& Resorts India: The leisure company has increased its shareholding in Rocksport to 23.42 per cent. It has subscribed to balance 3,25,547 equity shares of Rocksport for nearly Rs 8 crore. Rocksport provides outdoor entertainment, adventure programs, educational adventure tours and retail of branded adventure products in India.
: The textile products player said the Board of Directors has given approval for sub-division of existing equity share from one equity share (face value Rs 10 each) into five shares (face value Rs 2 each). The record date for sub-division of equity shares will be intimated in due course.
: The sugar company said the expanded capacity for ethanol production, from 720 KLPD to 1250 KLPD, is expected to go on stream by December 2022.
Bharat Wire Ropes: The iron and steep products company said the board meeting is scheduled on September 23 to evaluate the proposal for raising of funds by way of a preferential allotment.
& Industries: The realty firm said it has partnered with HDFC Capital to set up Rs 350 crore fund to develop residential projects across many cities. Eldeco has identified four residential developments in Delhi-NCR, Himachal Pradesh and Uttarakhand for an initial investment of Rs 175 crore.
SAL Steel: The steel and ferro alloy’s firm company is going to supply ferro chrome to
as it has entered into a supply agreement for 3 years with the company on a non-exclusive basis, while AIA has also agreed to provide a secured inter corporate deposit of Rs 125 crore to the company
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