Stocks to Watch: SBI, Paytm, Tata Motors, Coal India, Hindustan Zinc

Market


Here is the list of the top 10 stocks that will be in focus today:

State Bank of India: State bank of India on Wednesday said that it has signed a 150 million euro ( 1,240 crore) loan agreement with the German development bank KfW for funding solar projects. The long-term loan under the Indo-German solar partnership is to facilitate new and upcoming capacities in the solar sector and further contribute to the country’s goals announced during the COP26, the bank said in a statement on Wednesday.

One97 Communications: Japan’s SoftBank will sell a third of its stake in One97 Communications Ltd, the owner of the Paytm payments app, through a $200 million block deal, according to deal terms reviewed by Mint. SoftBank owns 12.9% of Paytm and plans to sell 29 million shares or 4.5% of the fintech company on Thursday. The shares are being offered to institutional investors at 555-601.45. At the lower end of the band, it is a 7.7% discount to the closing price of 601.3 on Wednesday.

Tata Motors: Luxury carmaker Jaguar Land Rover’s (JLR) chief executive officer Thierry Bollore has tendered his resignation from the company for personal reasons. He will leave the company on 31 December 2022. “We wish to inform you that Mr Thierry Bolloré, Non-Executive Non-Independent Director of Tata Motors Limited (the Company) has tendered his resignation w.e.f. December 31, 2022,” Tata Motors said in a BSE filing.

Coal India: Coal India is targeting 50 million tonne sales through the e-auction route in the second half of the current fiscal, a top company official said on Wednesday. The coal behemoth had sold around 30 million tonnes via e-auction in the first six months of the 2022-23 financial year. Coal India’s e-auction sales were at 108 million tonnes in 2021-22.

Hindustan Zinc: Vedanta group firm Hindustan Zinc on Wednesday said that its board has approved the second interim dividend of 15.50 per equity share for the current financial year 2022-2023. The total payout would amount to 6,549.24 crore. The record date for the purpose of payment of the dividend is 24 November 2022. The second interim dividend will be paid within stipulated timelines as prescribed under law.

Berger Paints: U.K Paints (India) Ltd on Wednesday announced that it has acquired a 50.09% stake in Berger Paints. UK Paints (India) acquired the shares through open market operations. The company has acquired the 20,000 shares that carry voting rights. Berger Paints India reported a consolidated net profit of 219.51 crore for the second quarter, up marginally from 219.21 crore in the year-ago period.

ONGC: The Central government has hiked windfall tax on domestically produced crude oil while reducing the rate of export on diesel. The change is effective from today i.e. 17 November, a government notification showed. The Central government has hiked windfall tax on domestically produced crude oil while reducing the rate on export of diesel. The change is effective from today i.e. 17 November, a government notification showed.

Spandana Sphoorty Financial: Microfinance lender Spandana Sphoorty Financial will raise up to 300 crore by issuing bonds next week, the company said on Wednesday. The board of directors in a meeting held on November 16, 2022, has approved to issue market-linked rated non-convertible debentures (NCDs) with a base issue size of 200 crore and green shoe option of 100 crore, the company said in a regulatory filing.

Ircon International: Ircon International Ltd on Wednesday said it has emerged as the lowest bidder for a construction project worth 392.5 crore in Madhya Pradesh. The project was floated by the Water Resources Department of Madhya Pradesh. “Ircon International has emerged as the lowest bidder (L1) for construction of balance work of Bahuti Canal project on turnkey basis, including completion of earthwork of main canal system….and other ancillary activities,” according to a regulatory filing.

Aurobindo Pharma: Aurobindo Pharma Ltd on Wednesday said it has received an Establishment Inspection Report (EIR) from the US health regulator for its manufacturing facility at Pydibhimavaram in Andhra Pradesh. The company’s Unit XI at Pydibhimavaram is an API non-antibiotic manufacturing facility. It was inspected by the US Food and Drug Administration (USFDA) in February 2019 and issued a warning letter in June 2019.

 

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