NEW DELHI Here is a list of the top ten stocks that may appear in the news on Tuesday:
State Bank of India: The nation’s largest lender has raised ₹7 billion rupees by issuing Basel III compliant bonds. “The Directors Committee for Capital Raising at its meeting today on September 21, 2020 agreed its approval to assign 70,000 non-convertible, taxable, repayable debt instruments … that comply with Basel III in the nature of obligations that are added to ₹7 billion rupees, to bond underwriters, “SBI said in a regulatory filing. The bond allocation to underwriters was carried out on the same date, that is, September 21, 2020, it added.
Indian Oil Corp: The nation’s largest oil trading company, Indian Oil Corporation, will invest ₹17,825 crore to implement petrochemical and lubricant integration at its Gujarat refinery. “The integration of polypropylene and lubricating oil base units (LOBS) will improve the integration rate of petrochemicals and specialty products of the Gujarat refinery,” said Shrikant M Vaidya, president of IOCL at the company’s 61st annual general meeting.
GMM Pfaudler: The promoter group of the company that includes Pfaulder Inc., Millars Machinery Company Private Limited and Urmi Patel, has proposed to sell capital shares of 40.93 lakh representing approximately 28.00% of the total share capital paid up through the offer to sell. (OFS). The base offering is 25.7 lakh of shares (17.59%), with an oversubscription option of 15.22 lakh of shares (10.41%). The minimum price of the OFS has been set at ₹3,500 per share.
HDFC Bank: The lender said it is aware of a complaint recently filed against the bank and its three employees in the United States, but denies the allegations and intends to “defend itself vigorously.” HDFC Bank expects its response to the lawsuit to expire in early 2021, it said in a regulatory filing.
NBFC: Fitch Ratings took rating action Monday on the long-term issuer default ratings of four non-bank financial companies. Shriram Transport Finance Company’s rating was confirmed at ‘BB’ and the Watch Negative (RWN) rating was removed. IIFL Finance Limited’s ‘B’ rating has been maintained at RWN. Manappuram Finance’s rating was affirmed at ‘BB-‘ and RWN was removed. Muthoot Finance’s rating has also been affirmed at ‘BB’, but RWN has been removed. The agency has maintained a stable outlook for Manappuram and Muthoot.
Mahindra and Mahindra: US-based car dealer HAAH Automotive Holdings approached Mahindra & Mahindra Ltd (M&M) of India with an offer to invest $ 258 million in the latter’s Korean subsidiary, SsangYong Motor Company, according to a report by Korean Investors news agency. The report says that the Indian automaker, which owns a 75% stake in SsangYong Motor, is considering the proposal put forward by HAAH last week.
HSIL: The company has approved the proposed repurchase of fully paid capital shares with a par value of ₹2 each at a maximum buyback price of ₹105 per capital share for a total amount of ₹70 crore. The maximum size of the repurchase offer represents 7.19% of the total paid-up share capital.
JSPL: The company clarified in media reports on certain transactions conducted between 2014 and 2016 saying that all transactions conducted by the company were part of routine business activities and that all transactions had suitable underlying assets. All these transactions are carried out strictly within the required legal framework and according to the country’s law, he added.
Trust capital: Reliance Capital Ltd (RCL) lenders have appointed SBI Caps and JM Financial to sell the company’s assets after the Anil Ambani-owned company defaulted on its debt to bondholders and other creditors. Commercial standard reported.
Agricultural companies: Amid protests over agricultural bills, the Cabinet Committee on Economic Affairs (CCEA) approved on Monday to increase the Minimum Support Price (MSP) for rabi crops.
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