Wednesday, October 5, 2022
HomeBusinessStocks to Watch: NTPC, Hindustan Zinc, Cipla, Bajaj Hindusthan Sugar

Stocks to Watch: NTPC, Hindustan Zinc, Cipla, Bajaj Hindusthan Sugar

Here is the list of the top 10 stocks in the spotlight today

NTPC: State power giant NTPC launched a tender on Tuesday to increase 5,000 crore term loan from financial institutions. According to the document, the bids can be submitted until August 31, 1100 hours. The minimum loan amount offered by banks or FIs must be 500 crore or in multiples of 500 crores. The proceeds of the loan will be used for capital expenditures, loan refinancing and other business purposes.

Hindu Zinc: ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s remaining 29.53% stake in Hindustan Zinc Ltd, an official said Tuesday. Also, HDFC Bank and IIFL Securities will act as investment bankers and work with the government and handle the stock sale offers, the official said. As many as 6 investment bankers had given a presentation to government officials on August 12.

cipla: Cipla said it has appointed Ashish Adukia as global chief financial officer. Dinesh Jain, who served as the company’s interim chief financial officer, will be relieved of the position. Meanwhile, Jain will continue to serve as Senior Vice President and Head of Corporate Finance.

Bajaj Hindusthan Sugar: State-owned company SBI has filed for bankruptcy against Bajaj Hindusthan Sugar Ltd, the country’s largest sugar producer. As a financial creditor, SBI has submitted the request to the Allahabad bank of the National Company Law Tribunal (NCLT). In a regulatory filing, Bajaj Hindusthan Ltd stated that “We understand that the State Bank of India, the financial creditor through its attorney, has initiated the Corporate Insolvency Resolution Process of Bajaj Hindusthan Sugar Ltd.”

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Future Lifestyle Fashion: Future Lifestyle Fashions Ltd on Tuesday reported an increase in consolidated net loss to 1,879.91 crore in the fourth quarter ended March 2022 due to store closures and increased costs. The company posted a consolidated net loss of 149 crore in the January-March quarter a year ago, Future Lifestyle Fashions Ltd (FLFL) said in a regulatory filing. Operating income decreased by 27.04% in the quarter under review to 607.42 crores. it was about 831.62 crore in the March quarter of FY21.

Mahanagar Gas: Mahanagar Gas cut prices of kitchen fuel Piped Natural Gas (PNG) and automotive fuel Compressed Natural Gas (CNG) on Tuesday, following an increase in the government’s allocation of domestically produced natural gas. The price of PNG has been reduced by 4 per standard cubic meter to 48.50 per SCM, while that of CNG by 6 a kilogram to 80 per kg, according to an official statement. After the tariff review, the use of CNG will help a vehicle owner to save 48% on fuel costs in the financial capital, said Mahanagar Gas Ltd (MGL).

Steel Authority of India Ltd: State steelmaker SAIL will produce a number of special rails this year used in high-speed corridors and metro rail projects, according to a company official. SAIL has set up a facility for the production of head hardened (HH) rails at the new Universal Rail Mill (URM) at its Bhilai Steel Plant (BSP) in Chhattisgarh.

Bajaj Electricals: Sustainable consumer products manufacturer Bajaj Electricals on Tuesday elevated its executive director Anuj Poddar to general manager and general manager (CEO). The company has separated the positions of chairman and chief executive officer and its patron Shekhar Bajaj will continue as the company’s executive chairman, a statement from Bajaj Electricals said.

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National Bank of India: The country’s largest lender, SBI, opened its first-ever startup branch in Bengaluru on Tuesday, which will focus on funding and supporting fledgling entrepreneurs in setting up new businesses up to their IPO. State Bank of India (SBI), while inaugurating the ‘SBI Start-Up Branch’ in Koramangala, said the facility is under a pact between the Karnataka government and SBI to further boost the state’s startup ecosystem.

Techno Electric & Engineering: The company is reported to have received new orders for flue gas desulphurisation (FGD). An order is worth it 666 crore and is from Rajasthan Rajya Vidyut Utpadan Nigam Limited Kota and worth another order 789 crore belongs to Rajasthan Rajya Vidyut Utpadan Nigam Limited Jhalawar.

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