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Stocks in the news: TCS, NTPC, Tata Power, Glenmark Pharma and RBL Bank.

Date: 24-08-2022
Subject: Stocks in the news: TCS, NTPC, Tata Power, Glenmark Pharma and RBL Bank
Nifty futures on the Singapore Exchange traded 52.5 points, or 0.30 per cent lower at 17,437.5, signaling that Dalal Street was headed for a negative start on Tuesday. Here are a dozen stocks which may buzz the most in today's trade:

Tata Consultancy Services: The country's largest software exporter has bagged a contract for an undisclosed sum from Africa's Absa Corporate and Investment Bank. It will be helping transform the bank's investor services operations across Africa and enhance the customer experience.

NTPC: The state owned power generation giant has declared first part capacity of 10 MW out of 20 MW Gandhar Solar PV project at Gandhar, Gujarat, on commercial operation. With this, standalone installed and commercial capacity of NTPC NSE 1.73 % will become 55099 MW.

Glenmark Pharmaceuticals: The drug maker expects growth of its US business to be flat or at low single digit in 2022-23 amid challenges of price erosion and unpredictable product approval by the USFDA.

Tata Power: An arm of Tata Group's utility firm announced a tie-up with Sidbi to set up 1,000 green energy enterprises in the country. The programme will promote sustainable rural entrepreneurship through clean power via microgrids and speedy facilitation of financial linkages.

Bank of Baroda: The state-owned lender said it will raise Rs 2,500 crore from bonds to fund business growth. The Capital Raising Committee of the bank approved issuance of Basel III compliant Additional Tier 1 (AT1) bonds in single or multiple tranches.

Sobha: Markets regulator Sebi has disposed of the adjudication proceedings against realty firm Sobha NSE 2.29 % and four individuals following settlement in a case pertaining to alleged fraudulent trading and disclosure lapses. A settlement amount of Rs 2,92,50,000 has been paid by the four individuals.

RBL Bank: The private lender said its board has approved raising up to Rs 3,000 crore to fund the lender's business growth. The fund raising will be subject to the approval of the shareholders.

Godrej Agrovet: The leading diversified agribusiness company announced it has signed MoUs with Assam, Manipur and Tripura governments for development and promotion of oil palm cultivation in the three states under the National Mission on Edible Oils-Oil Palm scheme. India is a net importer of palm oil.

Gillette India: The shaving product maker reported over two-fold increase in its net profit at Rs 67.59 crore during the fourth quarter ended June 30, 2022, led by a strong sales growth. The company had reported a profit of Rs 27.53 crore in the corresponding quarter of previous fiscal.

IIFL Finance: The financial services company said the board of directors of its subsidiary IIFL Home Finance approved the allotment of its 53,76,457 equity shares to the subsidiary of Abu Dhabi Investment Authority. The investor will hold 20 per cent shareholding in IIFL Home Finance for Rs 2,200 crore from investor.

Bank of India: The state run lender announced a tie-up with the Indian Renewable Energy Development Agency (IREDA) on the green finance front. The two entities will work together on co-lending, co-origination and loan syndication in renewable energy segment.

Lemon Tree Hotels: The hotel chain company has signed a license agreement for a 65 room hotel at Hubli, Karnataka under its brand 'Lemon Tree Hotel'. The hotel is expected to be operational by May, 2023.

TVS Electronics: The hardware and equipment firm executed business transfer agreement with GTID Solutions Development for acquiring their business and intellectual property rights for Rs 2.25 crore. With this agreement, TVS enters into mobile POS software solutions and authentication solutions space.

 Source Name:-Exim Guru Team

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