Stocks to watch today: Tata Power, Maruti Suzuki, Mahindra Logistics, ONGC, Wipro

As RBL Bank exceeded the market-wide position limit by 95% on Thursday, it was added to the list of prohibited securities within the F&O segment. Due to the release of their June quarter results, Websol Energy System and Consolidated Construction Consortium will be in the spotlight.

Here are the top 10 stocks that will be the subject of today’s attention.

Tata Power: To restructure its debt, a Tata Power subsidiary raised USD 320 million through Sustainability Linked Loans (SLL). According to observers of the finance sector, SLLs are often offered for up to 0.25% less than regular loans. The three-year tenor loan was raised by Tata Power’s international division for general corporate uses. In order to have the loan recognised as SLL, the company has agreed to adhere to a set of Key Performance Indicators (KPI).

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Maruti Suzuki: On Wednesday, Maruti Suzuki India said that 166 Dzire Tour S vehicles are being recalled to have faulty airbag components replaced. The nation’s largest automobile manufacturer stated in a regulatory filing that the impacted lot of the compact sedan was produced between August 6 and August 16 of this year. “The recall is being undertaken to replace Airbag Control Unit, free of cost, in these vehicles,” it added.

TVS Motor: On Wednesday, TVS Motor Company announced it will pay 85 crore to purchase a 48% share in Narain Karthikeyan’s used two-wheeler business, DriveX. The business announced that it would purchase a 48.27% share in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which trades as “DriveX.” DriveX, a company founded by former Formula 1 racer Karthikeyan, specialises in leasing two-wheeled motorcycles and scooters as well as buying, selling, and distributing used two-wheelers.

Mahindra Logistics: According to a senior corporate executive, Mahindra Logistics would establish two more warehousing facilities in Bhiwandi and Nashik in the current quarter of this fiscal year, making a total of three in the Delhi-NCR region. The business is currently expanding its warehouse footprint outside of the big cities as part of the second phase of its network growth as a result of an increase in demand from smaller towns like Lucknow, Patna, and Guwahati, among others.

IDFC: On Wednesday, IDFC Limited revealed that Mahendra N. Shah has been appointed as the organization’s managing director (MD) effective as of October 1, 2022. At the conclusion of business on September 30, 2022, Sunil Kakar’s tenure as managing director and CEO of the company will come to an end. Since May 24, 2019, Shah has served as the company secretary and compliance officer for IDFC Limited.

ONGC: Oil and Natural Gas Corporation (ONGC) is looking to profit from a rise in energy prices throughout the world by relaunching a tender to sell gas from its KG fields at a higher price of USD 15 per mmBtu. According to the tender document, the company requested offers for the sale of 0.75 million standard cubic metres of gas per day for a period of one year from the KG-DWN-98/2 (KG-D5) fields in the Bay of Bengal.

Bandhan Bank: According to MD & CEO Chandra Sekhar Ghosh, Bandhan Bank will open 551 additional branches in the 2022–2023 fiscal year as part of its focus on strengthening its distribution in areas of India outside the eastern region. The bank, which has its headquarters in Kolkata, will have more than 6,000 branches after the newest addition, he claimed.

Lupin: Formoterol Fumarate Inhalation Solution, used to treat the symptoms of chronic obstructive pulmonary disease, has been approved by the USFDA, according to Lupin. The generic version of Mylan Specialty’s Perforomist Inhalation Solution has been approved by the US Food and Drug Administration (USFDA), according to a statement from the Mumbai-based pharmaceutical business.

Wipro: On Wednesday, the IT firm Wipro Limited announced the hiring of Wagner Jesus as managing director and national head for operations in Brazil. Three years ago, Wagner started working for Wipro and quickly rose to the top of the non-financial business cluster. Wagner has a certificate in management from the Harvard Business School, an MBA from FIAP in Brazil, and a bachelor’s in computer science from Vale do Paraiba University, also in Brazil.

Vedanta: The oil-to-metals giant Vedanta Ltd. announced on Wednesday that despite declining metal prices, it will not lower its USD 2 billion capex target for the current financial year. In FY23, Vedanta intends to invest a total of about USD 2 billion in its operations producing zinc, oil and gas, and aluminium. “We will continue (with the capex target for the current fiscal). We cannot halt the project in the middle, and all of these are brownfield projects with excellent returns, which will improve our operation’s effectiveness, productivity, and efficiency “Sunil Duggal, the chief executive officer of Vedanta, stated.