Stocks to Watch: HDFC Bank, Kotak Mahindra Bank, Tata Motors, SBI Card

Market


NEW DELHI: Here is the list of top 10 stocks that could be in focus on Wednesday.

HDFC Bank: India’s largest private lender, HDFC Bank plans to double the amount of loans it makes to retail borrowers over the next couple years as consumer demand ramps up from a pandemic-induced slowdown. Of the bank’s total 11.5 trillion loan book, retail borrowing is worth 3.7 trillion, which is expected to reach almost 8 trillion within the next two years.

Kotak Mahindra Bank: The lender will foray into the healthcare lending space, where it will be taking exposures of up to Rs15 crore apiece. The private sector lender, however, will not be seeking funds from the Reserve Bank of India’s on-tap liquidity scheme for the sector, as its cost of funds is very low.

Tata Motors: The carmaker has said it will raise prices of its commercial vehicle range by around 2%, effective 1 October, to offset the impact of rising input costs. The hike will be implemented based on the model and variant of the vehicle, the auto major said in a statement. 

Tata Power: Has restarted fund-raising efforts for its renewables business, six months after pulling out of negotiations with Malaysia’s Petronas for a potential $2 billion investment. It’s now looking to raise $500 million to $750 million for its subsidiary Tata Power Renewables Energy Ltd.

SBI Cards & Payment Services: Societe Generale acquired 85,06,095 equity shares in the company at 1,021 per share, while Carlyle entity CA Rover Holdings sold 1.6 crore shares in the company at 1,021.25 per share and 1.6 crore equity shares at 1,021.01 per share on the NSE.

Indiabulls Housing Finance: Has raised 807.83 crore through issuance of non-convertible debentures (NCDs). This was the first tranche NCD issue of the housing finance company with a base issue size of Rs200 crore and a greenshoe option of up to Rs800 crore.

SpiceJet Ltd: On Tuesday said it has received shareholders’ approval to transfer its cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Pvt. Ltd, which will result in a one-time gain of 2,555.77 crore for the airline. The transfer of the logistics business will wipe out a substantial portion of the company’s negative net worth.

Torrent Power: Will acquire 156MW wind power projects for about 790 crore from Surya Vidyut, a unit of CESC Ltd. Surya Vidyut operates 156MW wind power plants across Gujarat, Rajasthan and Madhya Pradesh. Long-term power-purchase agreements for the projects are with respective state discoms for a period of 25 years, with a weighted average tariff of 4.68 per kWh.

Adani Group: Adani Group, parent of Adani Enterprises, Adani Green, Adani Transmission, among others, will invest $20 billion in clean energy generation, component manufacturing, transmission and distribution over 10 years. 

KEC International: Has bagged orders worth Rs1,157 crore across its various businesses. In the transmission and distribution segment, the RPG Group company bagged orders worth 663 crore for projects in the Middle East, Africa, and the Americas. In the railways segment, it has orders of 220 crore.

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