Here’s a quick look at stocks likely to be in focus in today’s trade.
HDFC Bank: HDB Financial Services (HDBFS), a subsidiary of HDFC Bank, is set to list its equity shares, including a fresh issue of up to ₹2,500 crore and an offer for sale by existing shareholders. In the June quarter, HDBFS posted a 2.6 percent year-on-year growth in net profit to ₹580 crore, with its loan book expanding 30 percent to ₹95,600 crore.
Vodafone Idea: The company faces financial pressures following the Supreme Court’s ruling on AGR dues. An unexpected investor meeting is scheduled to discuss the latest developments. Vodafone Idea has also inked a three-year, $3.6 billion deal with Nokia, Ericsson, and Samsung to expand its 4G and upcoming 5G network.
IIFL Finance: CARE Ratings downgraded IIFL’s long-term instruments from “AA” to “AA-” due to a decline in its gold loan portfolio. Despite the recent lifting of RBI restrictions, the company’s ability to reclaim its market share remains crucial.
Tata Steel: Tata Steel has inaugurated a new blast furnace at its Kalinganagar plant in Odisha, increasing its capacity from 3 million tonnes to 8 million tonnes with an investment of ₹27,000 crore. The plant’s total capacity in Odisha now stands at 14.6 million tonnes, complemented by facilities like a pellet plant and a coke plant.
Mankind Pharma: The pharmaceutical giant is set to raise up to ₹10,000 crore via non-convertible debentures and commercial papers to finance its recent acquisition of Bharat Serums and Vaccines.
Reliance Infrastructure: The company has announced a fundraising effort, including ₹1,100 crore from promoters and ₹1,910 crore from Mumbai-based investors. In total, Reliance Infrastructure plans to raise over ₹6,000 crore through preferential allotments and qualified institutional placements (QIPs).
Bharat Heavy Electricals Ltd (BHEL): BHEL secured an order worth ₹6,100 crore from NTPC for an EPC package for the 1×800 MW Sipat Supercritical Thermal Power Project.
Adani Total Gas: The city gas distribution joint venture between Adani Group and France’s TotalEnergies has secured a $375 million financing package from global lenders. This marks the largest global funding initiative in the city gas distribution sector.
SpiceJet: The airline’s board approved the issuance of 48.7 crore equity shares to qualified institutional buyers at ₹61.60 per share, raising ₹2,999.99 crore.
Aarti Drugs: The USFDA completed an inspection of Aarti Drugs’ API manufacturing facility in Tarapur, Maharashtra, from September 12-20. The company received seven inspectional observations in Form 483, none related to data integrity.
Adani Ports & SEZ: Adani Ports and Special Economic Zone (APSEZ) entered into a Memorandum of Understanding (MoU) with Rorix Holdings to integrate advanced technologies into their logistics and trading platforms. This partnership is designed to transform commodity trading and improve operational efficiencies. Karan Adani, CEO of APSEZ, emphasized that this collaboration is pivotal in their strategy to become a leading global transport and logistics infrastructure provider.
ONGC: ONGC Videsh, a subsidiary of ONGC, signed a non-associated gas agreement for the Azeri-Chirag-Deepwater Gunashili (ACG) field in Azerbaijan. The field’s non-associated natural gas (NAG) resources are estimated to be substantial, with around 4 trillion cubic feet (tcf) of gas in place.
