Stocks in focus on 23rd September: HDFC Bank, Mankind Pharma, BHEL, Tata Steel and more

The domestic equity indices, Sensex and Nifty, also surged on Friday, driven by global market rallies. The Sensex gained 1,359.51 points, reaching a new lifetime high of 84,694.46.

Several key developments have emerged from major companies, influencing market sentiments. Here’s a summary of the updates:

  • HDFC Bank: The board of its subsidiary, HDB Financial Services, has approved plans for an IPO, including a fresh issue worth ₹2,500 crore along with an offer for sale (OFS) from existing shareholders.
  • Mankind Pharma: The company is planning to raise up to ₹10,000 crore through non-convertible debentures and commercial papers on a private placement basis.
  • BHEL: Secured a notification of award worth ₹6,100 crore from NTPC for an 800 MW thermal power project.
  • Tata Steel: Commissioned India’s largest blast furnace at Kalinganagar, Odisha, investing ₹27,000 crore. The crude steel capacity is expected to expand from 3 MTPA to 8 MTPA.
  • ONGC: Signed a significant deal for non-associated gas resources in Azerbaijan’s ACG fields, with estimated resources up to 4 trillion cubic feet.
  • Vodafone Idea: Concluded a $3.6 billion deal with Nokia, Ericsson, and Samsung for network equipment, marking the first step in the company’s capex rollout plan.
  • Glenmark Pharma: The US FDA issued a Form 483 with zero observations for the company’s Aurangabad facility.
  • Aarti Drugs: Received a Form 483 with seven observations from the US FDA for its API manufacturing unit in Maharashtra. None of the issues were related to data integrity.
  • HFCL: Signed a strategic partnership with General Atomics Aeronautical Systems Inc. to develop and supply sub-systems for advanced unmanned aircraft systems.
  • Hind Rectifiers Limited: Secured an order worth over ₹200 crore from Indian Railways.