Stocks to watch: Shares of firms like Tata Steel, RIL, SBI, Wipro, Indian Hotels, HDFC AMC, Fortis, and others will be in focus on Tuesday’s trade.
Stocks To Watch On September 26: GIFT Nifty on the NSE IX traded 61.5 points, or 0.31 per cent, lower at 19,667, signaling that Dalal Street was headed for negative start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Nuvama Wealth Management: The stock, formerly known as Edelweiss Securities, will be re-listed on the BSE and the NSE today.
Reliance (RIL): The Mukesh Ambani-led firm seeks postal ballot vote for Ambani third-generations’ board appointment – Isha Ambani, Anant Ambani, and Akash Ambani as non-executive directors.
Tata Steel: Moody’s has raised the company’s long-term rating from Ba1 to Baa3; and the outlook from ‘Positive’ to ‘Stable’.
Banks: With state and general elections round the corner, the government is considering spending Rs 60,000 crore to provide subsidised loans for small urban housing over the next five years.
Mahindra & Mahindra (M&M): Canada’s Ontario to buy 20 per cent stake in Mahindra Teqo, a subsidiary of M&M for Rs 35 crore.
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Strides Pharma: The company is spinning off its contract development and manufacturing (CDMO) business along with the soft-gelatin unit into an entity called ‘OneSource’ (currently Stelis Biopharma). The latter will be listed in the next 12-15 months in order to have 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-run banks owing to non-compliance with certain regulations.
Wipro: Garnered Rs 266.38 crore by selling a land parcel and building in Chennai to Casagrand Bizpark.
Sheela Foam: Board approved QIP issue worth Rs 1,200 crore; Company to allocate 1.11 crore equity shares at Rs 1,078 each.
HDFC AMC: To invest Rs 25 crore in its international unit to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.
Indian Hotels: Has infused $11.5 million in its wholly-owned Netherland based subsidiary IHOCO BV to help it repay debt, and other operations.
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DB Realty: In its bid to enter the hospitality sector, the company plans to acquire stake in Bamboo Hotel Global Centre, Goan Hotels, and BD & P Hotels for over Rs 2,300 crore.
Fortis Healthcare: To acquire 99.9 per cent stake in Artistery Properties for Rs 32 crore.
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