Stocks to Watch: SBI, PVR, Tata Power, Tamilnad Mercantile Bank, CE Info


The Sensex and Nifty indices are likely to open flat on Thursday after volatile swings in the previous session. The global selloff on US inflation shocker also seemed to pause as US rose up to 0.7 per cent overnight. Asian stocks were mixed this morning.

At 7:40 am, the SGX Nifty futures were 20-30 points higher at 18,050 levels.

That said, here are some stocks that will likely see some market action today:

Tata Power/Tata Motors: on Wednesday said that it has inked a pact to develop a 4-MWp solar project at Tata Motors’ Pune plant. The installation is collectively expected to generate 5.8 million units of electricity, potentially mitigating over 10 lakh tonnes of carbon emission. Read here

SBI: The country’s largest lender raised the Benchmark Prime Lending Rate (BPLR) by 70 basis points (or 0.7 per cent) to 13.45 per cent on Wednesday. The announcement would make loan repayment linked to BPLR costlier. Read more

Vedanta: The company will look at creating a hub to manufacture Apple’s iPhones and TV equipment, along with possibly diving into the electric vehicle sector, Chairman Anil Agarwal said in an interview with CNBC TV18 on Wednesday. Read here

PVR: Investors Gray Birch, Plenty PE & Multiples PE may sell up to 7.74 per cent stake in the company today in a price range of Rs 1,852-1,929/share, as per CNBC TV-18.

Tata Steel: The steel maker said its board of directors has approved fund raising through the issue of non-convertible debentures up to Rs 2,000 crore in two series. In one series, they will raise Rs 500 crore and in the second, Rs 1,500 crore.

Tamilnad Mercantile Bank: The bank will debut on the bourses on September 15. The final issue price has been fixed at Rs 525 per share. As per IPO Watch, the stock is likely to see lisitng gain of upto 5 per cent.

Campus Activewear: The company hasunveiled new Autumn & Winter collection at its Annual Retailer Meet. It plans to introduce 300+ new shoe designs by end of the year.

HFCL: The company has received the advance purchase orders worth Rs 447.81 crore, consisting of Rs 341.26 crore from Bharat Sanchar Nigam (BSNL), and Rs 106.55 crore from RailTel Corporation of India.

C.E. Info Systems: The board has considered and approved acquisition of 26.37 per cent stake on a fully diluted basis of Kogo Tech Labs for Rs 10.00 crore, with an option to raise the stake to 50 per cent within 2 years.

Glaxosmithkline Pharmaceuticals: Life Insurance Corporation of India has offloaded 34.63 lakh equity shares or 2.04 per cent stake in the company via open market transactions. With this, LIC’s shareholding in the company reduced to 4.35 percent, down from 6.4 percent earlier.

Jayant Infra tech: Company has received its biggest ever work order (WO) worth Rs. 54 crore from ECI-SEEIPL(JV).

KPI Green Energy: The company has received new order of 4.20 MW (comprising of 4.20 MW wind turbine and 3 MWdc solar) under wind-solar hybrid power project. The order is from Nouveau Jewellery LLP, Surat under ‘captive power producer (CPP)’ business segment.

Balaji Amines: The company said the Phase 1 of 90-acre greenfield project (Unit IV) has been completed. The di-methyl carbonate, propylene carbonate, and propylene glycol plant will be ready to commence commercial production by the end of September 2022. In addition, it has also started construction in phase 2 of greenfield project (Unit IV) for 2 plants. The company already has environmental clearance for this expansion.

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