Wednesday, February 8, 2023
HomeBreaking NewsStocks to Watch: IRCTC, Poonawala Fin, SBI, Vedanta, Tata Motors

Stocks to Watch: IRCTC, Poonawala Fin, SBI, Vedanta, Tata Motors

Here is the list of the top 10 stocks taking center stage today:

IRCTC: The Central Government will sell up to 5% stake in Indian Railway Catering and Tourism Corporation (IRCTC) through an offer to sell (OFS) on the BSE and NSE on December 15-16 as the government attempts a major divestment by target for FY23. The bottom price is set at 680 per share, at a discount of more than 7% from today’s closing price of 733.50.

Poonawalla Fincorp: Poonawalla Fincorp Ltd on Wednesday announced the sale of its housing subsidiary Poonawalla Housing Finance Ltd to Perseus SG Pte Ltd, an entity affiliated with TPG Global for 3,900 crores. “The transaction will maximize long-term shareholder value as Poonawalla Fincorp focuses on building a technology-led and digital-first financial services company, with leadership in consumer and micro, small and medium enterprise finance,” said Cyrus. The Poonawalla group promoted a non-bank lender, it said in a registration application.

National Bank of India: Public lender State Bank of India (SBI) said on Wednesday that the bank board has approved the increase 10,000 crore through the issuance of a Basel III compliant debt instrument. The bank intends to raise new additional Tier 1 (AT1) capital from 10,000 crores. “The raising of new Additional Tier 1 (AT1) capital in the amount of Rs. 10,000 crore, subject to agreement by the Government of India,” the SBI filing added.

Vedanta: In a development paving the way for the resumption of iron ore mining in Goa, the state government announced on Wednesday that Vedanta Limited has emerged as a successful bidder for a mining block that was auctioned earlier this year. Chief Minister Pramod Sawant told reporters that Vedanta was the highest bidder with 63.55 percent revenue for Bicholim Mining Block, spread over 485 hectares.

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Tata engines: Tata Motors said Wednesday it has signed a pact with Everest Fleet Pvt Ltd to supply 5,000 XPRES-T EVs. The company handed over 100 units to Mumbai-based Everest Fleet on Wednesday as part of the deal. In July 2021, Tata Motors launched the ‘XPRES’ brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand.

NTPC: India’s largest energy producer NTPC Ltd is looking to sell a 20% stake in its green energy company this fiscal year, expecting to raise up to 30 billion Indian rupees ($363.97 million), three government sources said. The deal marks the first green transaction by a state-owned Indian company, which has attracted interest from investors including Canada Pension Plan Investment Board (CPPIB), Malaysia’s Petronas and Brookfield.

JB Chemistry and Pharmaceuticals: Private equity KKR-backed JB Chemicals & Pharmaceuticals Ltd has agreed to acquire Glenmark Pharmaceuticals Ltd’s cardiac franchise Razel for 313.7 crore in a cash deal. The transaction, which will be financed by long-term debt and internal accruals (primarily debt), is expected to close by the end of this calendar year, subject to customary closing formalities.

Arham Technologies: Arham Technologies is expected to be listed on the stock exchange today, December 15. The Arham Technologies IPO price range was set at 42 with a market lot of 3000 shares. Arham Technologies Limited is a manufacturer of smart televisions in India. The company produces smart TV under the STARSHINE brand. They are also the manufacturer of fans, air coolers and mixer mills through third party manufacturers.

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PTC India: Power trading firm PTC India said on Wednesday that it has engaged SBI Capital Markets (SBICAPS) as an advisor to monetize investments in its arm PTC Energy. SBICAPS will conduct an investment analysis to propose a future strategy for divestment/retention of investment in its subsidiary PTC Energy Ltd, it stated.

Pharmacy torrent: Torrent Pharmaceuticals said on Wednesday that it has signed a pact with Boehringer Ingelheim India to market diabetes drugs and their combinations in the country. The Company has entered into an agreement to jointly sell Cospiaq (Empagliflozin), Cospiaq Met (Empagliflozin Metformin) and Xilingio (Empagliflozin Linagliptin). Empagliflozin is a novel sodium-glucose co-transporter-2 (SGLT-2) inhibitor useful for improving glycemic control in adults with type 2 diabetes mellitus.

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