Stocks to Watch: HDFC, ICICI, IDBI Bank, TVS Motors, JSW Infra, Delhivery

In today’s trading session, several stocks are poised for attention due to recent developments:

HDFC/ICICI/SBI Cards/Bajaj Finance: The Reserve Bank’s recent tightening of norms for consumer credit, particularly unsecured personal loans, is likely to impact these financial institutions. The 25 percentage point increase in risk weight for unsecured consumer loans could lead to higher costs for such credit.

IDBI Bank: The disinvestment in IDBI Bank may not be completed in the current fiscal year, according to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Monetisation. Compliance with the RBI’s fit and proper criteria is a key aspect, and the transaction is expected to conclude post-March.

TVS Motors: TVS Motors has entered the European market by partnering with Emil Frey for the import and distribution of two-wheelers. Emil Frey, a prominent automobile importer in Europe, will be responsible for distributing TVS products in selected countries.

JSW Infrastructure: JSW Infrastructure has acquired the rights to develop a greenfield port in Karnataka with an initial capacity of 30 million tonnes per annum. The company emerged as the winning bidder for the development of the Keni port on a public-private partnership basis at a cost of ₹4,119 crore.

Delhivery: SoftBank is set to sell shares worth $154 million in Delhivery in a block deal. After the sale, SoftBank will continue to hold 10-11% in the logistics firm. The block deal is managed by Kotak Securities Ltd.

UCO Bank: UCO Bank has successfully recovered ₹649 crore, or 79% of the ₹820 crore erroneously credited to some account holders via Immediate Payment Service (IMPS). The bank has taken proactive steps to block recipients’ accounts and is working to recover the remaining ₹171 crore.

SJVN: SJVN has signed a power purchase agreement (PPA) with Solar Energy Corporation of India to supply 200 MW of wind power. The grid-connected wind power project is a significant move in the renewable energy sector.

Axis Bank/Manappuram/Anand Rathi Global Finance: The Reserve Bank has imposed monetary penalties on Axis Bank, Manappuram Finance, and Anand Rathi Global Finance for deficiencies in regulatory compliance.

JSW Steel: JSW Steel has withdrawn its application to surrender one of its iron ore mines in Odisha’s Keonjhar. The decision comes after considering the demand and supply scenario of iron ore in India.

Brigade Enterprises: Brigade Enterprises has partnered with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru with an estimated sales value of ₹2,100 crore. The Joint Development Agreement involves developing around 2 million sq ft of residential space.

Stay tuned for updates on these stocks as they navigate through today’s trading landscape.

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