Stocks to watch on September 20
Stocks to watch: Shares of companies like HDFC Bank, RR Kabel, Tata Motors, Cipla, Coal India, Biocon and others will be in focus during Wednesday’s trading.
Stocks to watch on September 20: GIFT Nifty on the NSE IX was trading 11 points, or 0.05 percent, lower at 20,089, indicating that Dalal Street was heading for a quiet start on Wednesday. Here you’ll find a whole host of stocks that will be in the spotlight today for a variety of reasons.
HDFC bank: The Reserve Bank of India has approved the reappointment of Sashidhar Jagdishan as managing director and chief executive officer of HDFC Bank for another three years till October 26, 2026, the bank said in a regulatory filing. Jagdishan joined the bank in 1996 as a manager in the finance function and became head of the finance department in 1999. He was later appointed CFO in 2008. Before his appointment as CEO in October 2020, he was also group head of the bank. to supervise other functions.
RR cable: RR Kabel will make its debut on the stock exchanges today, and according to the latest gray market trend, the stock could be listed at a premium. The company has become the first IPO company to complete its listing under the T+2 timeline. Under this standard, an IPO company must complete its listing process within three business days of the closing of the IPO. The company’s action was voluntary and SEBI has not made the deadline mandatory for IPO companies till November 30.
Tata engines: Tata Motors on Monday announced it will increase prices of its commercial vehicles by up to 3%, the third increase this calendar year, to offset the remaining impact of post-input costs, according to a report published by Reuters. The price increase will take effect from October 1. The higher prices will apply to the entire range of commercial vehicles, the Indian carmaker said.
Torrent Pharma/Cipla: India’s Torrent Pharmaceutical is in preliminary talks with Apollo Global Management to secure a loan of up to $1 billion to finance a planned bid for Cipla, two people briefed on the talks said. Torrent hopes to secure about $3 billion to $4 billion in financing for its bid for its much larger rival, they said. Bernstein analysts estimate that a deal for about 60% of India’s No. 3 drugmaker could be worth as much as $7 billion — possibly India’s largest pharmaceutical deal to date.
Adani Group shares: The Supreme Court of India has received a new plea questioning the integrity of the existing expert committee probing the Hindenburg report on the Adani Group and accusing it of stock manipulation. The plea sought that the Supreme Court should constitute a new panel comprising persons with impeccable integrity and without conflict of interest in the matter relating to the Hindenburg report. The plea was filed by one of the petitioners, Anamika Jaiswal, through her lawyer Ramesh Kumar Mishra.
Coal India/NHPC: State-owned Coal India Ltd and India’s largest hydropower company NHPC Ltd could join hands to explore the possibility of converting abandoned or closed mines into pumped storage projects (PSP). A person aware of the development said that the Coal Ministry, under its plan to set up PSPs in “decarbonized areas”, where all the coal has been mined, has directed Coal India to tie up with NHPC and other related agencies. Coal India is currently in the process of appointing a consultant for the project.
Jindal steel and strength: Naveen Jindal, the chairman of Jindal Steel & Power (JSPL), will be redesignated as non-executive chairman with effect from October 1, 2023, the company said in an exchange filing on Monday. Jindal currently serves as executive director and has been designated as chairman, which expires on September 31, 2023, according to the steelmaker’s stock exchange filing. In his new role, Jindal would not be entitled to any compensation from the company, other than a sitting allowance for attending meetings.
Shree cement: Leading cement company Shree Cement on Tuesday said it plans to issue non-convertible debentures (NCDs) worth ₹700 crore on a private placement basis. The company’s board of directors will consider approving the issuance of NCDs on September 25. The fundraising plan is expected to be part of the company’s ₹7,000 crore investment plan in its next phase of growth, during which it aims to add another 12 million euros. ton capacity.
Biocon: Biotechnology giant Biocon Ltd. on Monday appointed Peter Bains, member of the Board of Directors, as the new Group Chief Executive Officer. To take over the role, Peter Bains has resigned from his role as non-executive independent director of the Board of Directors of Biocon Ltd with immediate effect. He has more than 30 years of experience in strategic and operational leadership, including at board, CEO and senior corporate levels.
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