Top Stocks in Focus: SBI, Reliance, Delta Corp, Bajaj Finance, and JSW Steel

Here’s the latest scoop on some influential stocks making waves in the market:

State Bank of India (SBI): India’s largest bank recently secured Rs 10,000 crore through its fourth infrastructure bond issuance, attracting diverse investors like provident funds, pension funds, insurance companies, mutual funds, and corporates. These funds will bolster long-term infrastructure and affordable housing financing.

JSW Steel: The company finalized the Termination Agreement with National Steel Holding (NSHL), gaining full control of NSL Green Recycling. This move strengthens JSW Steel’s position in the industry.

Shree Renuka Sugars: The sugar company received board approval to acquire Anamika Sugar Mills for Rs 235.5 crore, enhancing its presence in Uttar Pradesh. Additionally, they plan to infuse up to Rs 110 crore in Anamika through equity shares. Fundraising up to Rs 285 crore through non-convertible debentures on a private placement also received board approval.

Vijaya Diagnostic Centre: Shareholders granted approval for the appointment of Sura Suprita Reddy as Managing Director and CEO for five consecutive years, effective from July 1, 2023. Sura has been instrumental in shaping the company’s strategy, clinical excellence, operations, and expansion since 2003.

Emami: The FMCG company appointed Manish Gupta as President of the Consumer Care division, leveraging his 25+ years of FMCG sales and distribution experience.

Wipro: Wipro Appirio, a step-down subsidiary, voluntarily underwent liquidation, effective September 5, reflecting changes in the company’s structure.

Vaibhav Global: Subsidiary Shop TJC Ltd (UK) successfully executed an Asset Sale Agreement to acquire Ideal World, a prominent teleshopping brand in the United Kingdom. The transaction, funded through internal accruals, includes acquiring Ideal World’s IP rights, broadcasting rights, studio equipment, and other intangible assets.

Lemon Tree Hotels: The hotel chain inaugurated its latest franchised property, Lemon Tree Hotel, Mcleodganj, marking its third property in Himachal Pradesh.

Sterling and Wilson Renewable Energy: The company’s board of directors will meet on September 27 to consider raising funds through non-convertible debt instruments or equity shares, potentially via preferential issue, qualified institutions placement, or rights issue.

Kirloskar Oil Engines: Anurag Bhagania resigned from the position of Chief Financial Officer (CFO) due to personal reasons, effective from November 22.

SJVN: The state-owned hydroelectric power generation company received in-principle approval from the board to monetize partial earnings of the Nathpa Jhakri Hydro Power Station (NJHPS) through securitization of future return on equity.

Suzlon Energy: State-owned REC withdrew its nominee, Ajay Mathur, from the board of Suzlon Energy following full repayment of the rupee term loan agreement.

IRCON International: The public sector undertaking executed a contract agreement with Sri Lanka Railways for the procurement and installation of signaling and telecommunication systems from Maho Junction to Anuradhapura under the Indian line of credit, valued at $14.89 million (Rs 122 crore), with completion within 24 months.

Bajaj Finance: The non-banking finance company’s board of directors will convene on October 5 to explore fundraising options through preferential issue and qualified institutions placement (QIP).

Reliance Industries: Reliance Retail Ventures received Rs 2,069.50 crore from Alyssum Asia Holdings II Pte Ltd (KKR) and allocated 1,71,58,752 equity shares to KKR.

Life Insurance Corporation of India: The Corporation will appeal an order from the Bihar-Additional Commissioner State Tax (Appeal) that raised a demand of goods and service tax, along with interest and penalty, amounting to Rs 290.49 crore.

Delta Corp: The casino chain received an intimation from the Directorate General of GST Intelligence, Hyderabad, demanding an alleged tax liability of Rs 11,139.61 crore, inclusive of interest and penalty, for the period spanning July 2017 to March 2022. Failure to comply may result in a show cause notice.

Deep Industries: The air and gas compression services company secured a Letter of Award from Oil and Natural Gas Corporation for the charter hiring of HP compressors at GCP Geleki, Assam, with an estimated value of Rs 108 crore.

Strides Pharma Science: Subsidiary Strides Pharma Global Pte Limited, Singapore, received approval from the US FDA for Icosapent Ethyl capsules, used in conjunction with other medicines to reduce the risk of heart-related issues. The product is bioequivalent and therapeutically equivalent to the reference listed drug Vascepa, with a market size of $1.3 billion.

Samhi Hotels: Morgan Stanley Investments Mauritius and Morgan Stanley Mauritius Company exited Samhi Hotels by selling their shares, while BofA Securities Europe SA increased its stake in the company. SI Investments Broking also purchased shares.

Hinduja Global Solutions: Foreign portfolio investor Aviator Global Investment Fund acquired a stake in the IT services management company.

Zaggle Prepaid Ocean Services: ACM Global Fund VCC and Valuequest Investment Advisors made share purchases in the business spend management services company, while Goldman Sachs Investments Mauritius I sold shares.

Cholamandalam Financial Holdings: Promoter entity Ambadi Enterprises sold its shares in the company, while Nomura India Investment Fund Mother Fund acquired shares.

Chavda Infra: The construction company will debut on the NSE Emerge on September 25, offering shares for trading in the trade-for-trade segment at an issue price of Rs 65 per share.

Holmarc Opto-Mechatronics: The scientific and engineering instruments manufacturer will list its equity shares on the NSE Emerge on September 25, enabling trading in the trade-for-trade segment at an issue price of Rs 40 per share.

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