Stocks to Watch: Bikaji Food, Global Health, HDFC, Vedanta, SBI, ONGC

Market


Bikaji Foods: The shares of Bikaji Food International IPO is expected to be listed today, 16th Nov 2022. The initial public offering of Bikaji Foods International was subscribed 26.67 times on Monday, November 7, 2022, the last day of subscription. The 881-crore IPO received bids for 55,04,00,900 shares against 2,06,36,790 shares on offer, as per data available with the NSE.

Global Health: The company’s shares are expected to list on the leading stock exchanges BSE and NSE on Wednesday, November 16, 2022. The initial public offering (IPO) of Global Health, which operates a chain of hospitals under the Medanta brand, was subscribed 9.58 times on the last day of the offer that closed on Monday, November 7, 2022. The public issue received bids for 44.79 crore shares against 4.67 crore shares on offer, according to the NSE data.

HDFC: NBFC giant, HDFC is set to raise approximately 5,500 crore by issuing secured redeemable non-convertible debentures via private placement. The NCDs have a rating of ‘AAA’ by major agencies like CRISIL and ICRA. The issue is part of HDFC’s shelf placement memorandum ‘AA’ series aggregating a whopping 75,000 crore. As per the regulatory filing, the base issue size is around 4,000 crore, while can be retained for an oversubscription of up to 1,500 crore — taking the total size to be around 5,500 crore.

Vedanta: Vedanta Group on Tuesday said it was focused on completing the expansion of Electrosteel Steels Ltd to three million tonnes from 1.5 million tonnes amid rumours about the company’s exit from the steel business. Anil Agarwal-led Vedanta Group scooped Electrosteel Steels four years ago. “As of date, this (exiting Electrosteel) is not a topic for us. The only priority is to raise the (production) capacity to 3 million tonnes,” Vedanta Group CEO Sunil Duggal told reporters.

State Bank of India: State Bank of India (SBI) on Tuesday said the government has nominated Vivek Joshi to its board following the cessation of the previous director. The Department of Financial Services, Ministry of Finance, in a letter dated November 15, 2022, has nominated Vivek Joshi (secretary, Ministry of Finance) as a director on the central board of directors of State Bank of India, the bank said in a regulatory filing.

ONGC: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has submitted an application to Russian authorities to retake a 20% stake in the Sakhalin-1 oil and gas fields in the far east region of the country, the company said. Russian President Vladimir Putin last month disbanded Exxon Neftegaz – a regional subsidiary of US super major ExxonMobil – as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator.

InterGlobe Aviation: Low-cost carrier and the country’s largest airline by the number of aircraft — IndiGo — has commenced operations of its first A321 freighter aircraft between Delhi and Mumbai. The cargo aircraft services started on November 15. The airline said the aircraft, converted from a passenger jet into a full-freighter configuration, would be used for general freight on the inaugural Delhi-Mumbai flight while carrying general and e-commerce cargo on the return leg.

M&M: Mahindra & Mahindra Farm Equipment Services (FES), part of the Mahindra group, on Tuesday announced the opening of its first dedicated farm machinery manufacturing facility in Pithampur near Indore in Madhya Pradesh. The new plant is part of the group’s plan to grow its farm machinery business (beyond tractors) by 10 times in 5 years, through the launch of ‘made-in-India’ farm machinery products, the company said in a statement.

IIFL Wealth Management: IIFL Wealth & Asset Management, a wealth and asset management firm in India, has rebranded itself as 360 ONE. The new brand and identity were unveiled by Karan Bhagat, Founder, MD & CEO. According to the press release, the new brand – 360 ONE – will help the company retain all the elements that make it unique while also injecting the vibrancy and freshness of a modern India. It is expected to capture the company’s ethos but will also resonate with a more diverse set of clients and prospects, including the next generation.

Ashiana Housing: Realty firm Ashiana Housing Ltd has reported a consolidated net loss of 1.81 crore for the quarter ended September of this financial year. Its net loss stood at 5.74 crore in the year-ago period. Total income, however, rose to 91.72 crore in the second quarter of the 2022-23 financial year from 60.69 crore in the corresponding period of the previous year.

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