Categories: बिजनेस

Stocks to Watch: HDFC Bank, RR Kabel, Tata Motors, Cipla, Coal India, Biocon, and Others – News18


Stocks to watch on September 20

Stocks to watch: Shares of firms like HDFC Bank, RR Kabel, Tata Motors, Cipla, Coal India, Biocon, and others will be in focus on Wednesday’s trade.

Stocks to Watch on September 20: GIFT Nifty on the NSE IX traded 11 points, or 0.05 per cent, lower at 20,089, signaling that Dalal Street was headed for muted start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.

HDFC Bank: The Reserve Bank of India has approved the reappointment of Sashidhar Jagdishan as HDFC Bank managing director and chief executive officer for three more years till 26 October 2026, the bank said in a regulatory filing. Jagdishan joined the bank in 1996 as a manager in the finance function and became business head of finance in 1999. He was later appointed CFO in 2008. Prior to his appointment as CEO in October 2020, he was the group head of the bank in addition to overseeing other functions.

RR Kabel: RR Kabel is set to make its debut on stock exchanges today, and according to the latest trend in the grey market, the stock could be listed at a premium. The company has become the first IPO firm to complete its listing under the T+2 timeline. Under this norm, an IPO firm needs to complete its listing process within three working days from the closure of the IPO. The company’s act was voluntary and SEBI has not made the deadline mandatory for IPO firms till November 30.

Tata Motors: Tata Motors on Monday announced that it will raise the prices of its commercial vehicles by up to 3%, its third hike this calendar year to offset the residual impact of post-input costs, according to a report published by Reuters. The price hike will be effective from October 1. The increased prices will be applicable across its range of commercial vehicles, the Indian automaker 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 help fund a planned bid for Cipla, two people briefed on the discussions said. Torrent is hoping to secure roughly $3 billion to $4 billion in financing for the bid for its much bigger rival, they said. Bernstein analysts have estimated that a deal for about 60% of India’s No. 3 drugmaker could be worth as much as $7 billion – potentially India’s largest pharma deal to date.

Adani Group stocks: The Supreme Court of India has received a fresh plea that questions the integrity of the existing expert committee looking into the Hindenburg report on Adani Group accusing it of stock manipulation. The plea sought that the apex court formulate a new panel comprising individuals with unblemished integrity and no conflicts of interest in the matter related to the Hindenburg report. The plea was filed by one of the petitioners, Anamika Jaiswal, through her advocate Ramesh Kumar Mishra.

Coal India/NHPC: State-run Coal India Ltd and India’s largest hydropower company NHPC Ltd may join hands to explore the possibility of converting abandoned or closed mines into pump storage projects (PSP). A person aware of the development said the coal ministry under its plan to set up PSPs at “de-coaled areas”, where all the coal has been mined, has directed Coal India to partner with NHPC and other related agencies. Coal India is currently in the process of appointing a consultant for the project.

Jindal Steel & Power: Naveen Jindal, the chairman of Jindal Steel & Power (JSPL), will be re-designated as a non-executive chairman, with effect from 1 October 2023, the company said in an exchange filing here on Monday. Jindal is currently acting as an executive director, designated as chairman, which is due to end on 31 September 2023, as per the exchange filing of the steel manufacturer. In his new role, Jindal would not be entitled to draw remuneration from the company, except for a sitting fee for attending the meetings.

Shree Cement: Leading cement company Shree Cement said on Tuesday that it is planning 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 capex plan in the next phase of growth, during which it aims to add an additional 12 million tonne of capacity.

Biocon: Biotechnology major Biocon Ltd., on Monday, appointed its Board of Director member, Peter Bains, as its new Group Chief Executive Officer. To take over the position, Peter Bains, stepped down from his role as non-executive independent director from the Board of Biocon Ltd with with immediate effect. He has over 30 years of experience in strategic and operational leadership, including at board, CEO and senior corporate levels.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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