Stocks to Watch
Sept. 23, 2024, 6:05 a.m.
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Stocks to Watch: Market Highlights and Key Movements

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In today’s trading, several major companies are expected to capture market attention. Below is an overview of key stocks to monitor:

HDFC Bank: HDB Financial Services (HDBFS), a subsidiary of HDFC Bank, is preparing for an equity listing that includes a fresh issue worth up to ₹2,500 crore and an offer for sale from current shareholders. In the June quarter, HDBFS reported a 2.6% increase in net profit, reaching ₹580 crore, alongside a 30% expansion of its loan book to ₹95,600 crore.

Vodafone Idea: Amid financial stress after the Supreme Court's ruling on Adjusted Gross Revenue (AGR) dues, Vodafone Idea will meet investors to discuss potential developments. The company has also secured a $3.6 billion deal with Nokia, Ericsson, and Samsung to enhance its 4G and 5G network capabilities.

IIFL Finance: CARE Ratings downgraded IIFL Finance’s long-term rating from “AA” to “AA-” due to a reduction in its gold loan portfolio. The firm will need to recover market share following the removal of restrictions imposed by the Reserve Bank of India (RBI).

Tata Steel: Tata Steel has commissioned a new blast furnace at its Kalinganagar facility, boosting capacity by 8 million tonnes and increasing the plant’s overall capacity to 14.6 million tonnes in Odisha. The total investment in this project amounts to ₹27,000 crore.

Mankind Pharma: Mankind Pharma plans to raise ₹10,000 crore through non-convertible debentures and commercial papers to fund its acquisition of Bharat Serums and Vaccines.

Reliance Infrastructure: The company is targeting ₹6,000 crore in fundraising, which includes ₹1,100 crore from promoters and ₹1,910 crore from Mumbai-based investors via preferential allotments and qualified institutional placements (QIPs).

BHEL (Bharat Heavy Electricals Ltd): BHEL has secured a significant ₹6,100 crore order from NTPC for an engineering, procurement, and construction (EPC) package for the 1x800 MW Sipat Supercritical Thermal Power Project.

Adani Total Gas: This joint venture has raised $375 million from global lenders, marking a major financing initiative in the city gas distribution sector.

SpiceJet: SpiceJet’s board has approved an equity raise of ₹2,999.99 crore through the issuance of 48.7 crore shares to qualified institutional buyers at ₹61.60 per share.

Aarti Drugs: The USFDA recently inspected Aarti Drugs’ API manufacturing facility, issuing seven observations without any concerns regarding data integrity.

Adani Ports & SEZ (APSEZ): APSEZ has signed an MoU with Rorix Holdings to improve its logistics and trading platforms by integrating new technologies to enhance operational efficiencies.

ONGC: ONGC Videsh has signed a non-associated gas agreement for the Azeri-Chirag-Deepwater Gunashili (ACG) field in Azerbaijan, with estimated gas reserves of 4 trillion cubic feet.

These developments across various sectors are expected to influence today’s market movements.



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