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Stocks in the news: HDFC Bank, M&M, Voda Idea, Yes Bank, CIL and Tata Power.


Date: 09-09-2022
Subject: Stocks in the news: HDFC Bank, M&M, Voda Idea, Yes Bank, CIL and Tata Power
Nifty futures on the Singapore Exchange traded 86 points, or 0.48 per cent hihger at 17,905.5, signaling that Dalal Street was headed for a positive start on Friday. Here are a dozen stocks which may buzz the most in today's trade:

HDFC Bank: The private sector lender has mobilised Rs 3,000 crore from bonds to fund business growth. The bank issued and allotted bonds to investors on a private placement basis. These unsecured, subordinated, fully paid-up, non-convertible, Basel III compliant perpetual debt would carry a coupon rate of 7.84 per cent.

Mahindra & Mahindra: The homegrown auto major, bullish on green mobility, will drive in its first electric sports utility vehicle - XUV 400 - early next year. The company globally unveiled the five-seater model which comes with a driving range of 456 km (ARAI certified) on a single charge and can attain 0-100 km per hour acceleration in 8.3 seconds.

Coal India: The state run coal miner informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. CIL has not raised prices in the last four years.

Vodafone Idea: The government will acquire a stake in debt-ridden telecom firm after the stock price of the company stabilises at Rs 10 or above. Vodafone Idea NSE 0.52 % (VIL) board has offered a stake to the government at a par value of Rs 10 per share. The finance ministry had cleared the proposal to acquire stake in VIL in July.

Yes Bank: Cerberus Capital and Asset Reconstruction Company of India (Arcil) have dropped out of the race to acquire more than Rs 48,000 crore of distressed loans of the private lender. They did not submit a counter-bid against a binding offer by JC Flowers ARC.

Tata Power: The Tata Group's utility firm Tata Power Renewable Energy said it will set up a 100 MW solar power plant for Viraj Profile in Maharashtra. Viraj Profile (VPPL) is a stainless steel manufacturer, which owns and operates a plant located at Tarapur NSE 1.00 % at Nandgaon.

Sona BLW Precision: The automotive technology firm said it has completed production of 1,00,000 EV traction motors. The company's R&D team designed and developed these motors in-house and launched them for production in 2020.

PNC Infratech: The civil construction firm has signed a concession agreement for a HAM project with National Highways Authority of India (NHAI) for a bid project cost of Rs 1,458 crore. This road project in Uttar Pradesh is to be constructed in 24 months, upon declaration of appointed date and operated for 15 years, post construction.

Samvardhana Motherson International: The auto components maker said it will acquire Daimler India Commercial Vehicles' frame manufacturing and assembly operations facilities in Chennai. The company has signed a strategic agreement, including a long-term deal with DICV for supply of the complete frame assembly as a part of the transaction.

Panacea Biotec: The US health regulator has asked for further corrective actions at the manufacturing unit of drug maker's wholly-owned arm at Baddi in Himachal Pradesh otherwise approval of any pending product applications from the facility may be withheld.

Reliance Capital: The Committee of Creditors (CoC) reviewed the resolution process of the debt-ridden Anil Ambani Group form, for which the bidding process closed on August 29. IndusInd Bank NSE 3.49 %, US-based asset management firm Oaktree Capital, and Torrent Group are among six bidders to acquire Reliance Capital NSE -4.83 %.

Emkay Global Financial Services: Asset management arm of the stockbroker, Emkay Investment Managers, is expecting to garner around Rs 350 crore from a new fund. Emkay emerging stars series V fund will open for investment on Friday, and the money collected will be invested in top-quality stocks in the manufacturing sector.

Albert David: Tarminder Singh Parmar has resigned as Managing Director and CEO of the smallcap pharmaceuticals company. He resigned due to personal reasons.

SBC Exports: The commerical services firm has received a work order from National Informatics Centre Services Incorporated (NICSI), for providing office support, project management support and rollout services. The cost of the said work order is Rs 57,88,115.
 
 Source Name:-Economic Times
 
 
 
 
 

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