Last updated: Sep 26, 2023 08:43 IST
Stocks to watch on September 26
Stocks to watch: Shares of companies like Tata Steel, RIL, SBI, Wipro, Indian Hotels, HDFC AMC, Fortis and others will be in focus during Tuesday’s trading.
Stocks to watch on September 26: GIFT Nifty on the NSE IX was trading 61.5 points, or 0.31 percent, lower at 19,667, indicating that Dalal Street was heading for a negative start on Tuesday. Here you’ll find a whole host of stocks that will be in the spotlight today for a variety of reasons.
Nuvama Asset Management: The stock, formerly known as Edelweiss Securities, will be re-listed on the BSE and NSE today.
Dependence (RIL): The Mukesh Ambani-led company plans to vote by letter for the board appointment of Ambani’s third generation – Isha Ambani, Anant Ambani and Akash Ambani as non-executive directors.
Tata steel: Moody’s has upgraded the company’s long-term rating from Ba1 to Baa3; and the outlook from ‘positive’ to ‘stable’.
Banks: With the state and general elections around the corner, the government is considering spending Rs 60,000 crore on subsidized loans for small urban housing over the next five years.
Mahindra & Mahindra (M&M): Canada’s Ontario will buy a 20 percent stake in Mahindra Teqo, a subsidiary of M&M, for Rs 35 crore.
Strides Pharma: The company is in the process of spinning off its contract development and manufacturing (CDMO) business, together with the soft gelatin unit, into an entity called ‘OneSource’ (currently Stelis Biopharma). The latter will go public in the next 12 to 15 months to realize better synergies and unlock value.
SBI, Punjab & Sind Bank, Indian bank: The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of up to Rs 1.62 crore on these three state-owned banks for non-compliance with certain regulations.
Wipro: Earned Rs 266.38 crore by selling a plot of land and a building in Chennai to Casagrand Bizpark.
Sheela foam: The Council approved the QIP issue worth Rs 1,200 crore; Company allots 1.11 crore shares of Rs 1,078 each.
HDFC AMC: To invest Rs 25 crore in its international unit to help it meet the asset requirements prescribed for registered fund management entities (retail) under IFSC rules.
Indian hotels: Injected $11.5 million into its wholly owned Dutch subsidiary IHOCO BV to help pay down its debt and other operations.
DB Real Estate: In its bid to enter the hospitality sector, the company plans to acquire stakes in Bamboo Hotel Global Centre, Goan Hotels and BD&P Hotels for over Rs 2,300 crore.
Fortis Healthcare: To acquire 99.9 percent stake in Artistery Properties for Rs 32 crore.
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