Here is a list of top 10 stocks that will be in focus today:
accThe Adani family on Friday said it has completed the acquisition of ACC Ltd, making it the second largest cement company in the country. The Adani family through its special purpose vehicle Endeavor Trade and Investment Ltd completed the acquisition after completing a transaction with Swiss firm Holcim and an open offer, a statement said. “The transaction involved acquisition of Holcim’s stake in Ambuja and ACC with an open offer in both the entities as per SEBI regulations,” it said.
HDFC LifeThe National Company Law Tribunal (NCLT) on Friday approved the merger of Exide Life Insurance with HDFC Life Insurance. The Mumbai bench of the NCLT approved the plan of amalgamation, HDFC Life Insurance said in a regulatory filing. Earlier this year, HDFC Life announced the acquisition of 100% stake in Exide Life from its parent Exide Industries. 685 cash payment of more 726 crores, in total 6,687 crores.
Ambuja CementsAmbuja Cements, acquired by the Adani family, has called an extraordinary general meeting with its shareholders on 8 October. At the EGM (Extraordinary General Meeting), Ambuja Cements will seek the approval of shareholders for the appointment of Gautam Adani and others on the board and a 20,000 cash infusion in the company by way of preferential allotment of warrants.
Hero MotocorpCountry’s largest two-wheeler maker Hero MotoCorp is all set to enter the electric segment with the launch of its first model in the domestic market next month. In a regulatory filing, the company said that “a new era in mobility is about to begin”, alluding to a program under its Veida brand on October 7, 2022. The two-wheeler major has issued an invitation to its dealers, investors and global distributors. For the event to be held in Jaipur, Rajasthan.
recThe Center is considering granting a Development Finance Institution (DFI) status to REC Ltd. to enable the state-run company to drive global climate funding and net zero investments in the country. The projected fund requirement for the transition towards a net zero economy will be around $3.5 trillion by FY2050 and about $10 trillion by 2070, of which a major chunk of investment will be required in the power sector.
State Bank Of IndiaState Bank of India (SBI) on Friday said SBI Global Factors Ltd has become its 100% subsidiary as the country’s largest lender has acquired around 14% stake from other shareholders. SBI has acquired 13.82% equity of existing shareholders i.e. SIDBI (6.53%), Bank of Maharashtra (4.34%), and Union Bank of India (2.95%), a regulatory filing said.
ONGCNEW DELHI: The government on Friday slashed unforeseen tax on sales of domestic crude from 21% to Rs 10,500 per tonne in line with the reduction in global oil prices seen in the last fortnight, an official order showed. For more than two weeks, the sale of crude oil produced in India levied an additional duty of Rs. 13,300 per tonne
Adani PowerAdani Power on Saturday said its promoter arm Adani Properties has withdrawn its proposal to delist the company due to lack of in-principle approval from stock exchanges. The company, in a regulatory filing, said it has received a letter from a member of the promoter group, seeking withdrawal of the delisting proposal. The Company shall, inter alia, take necessary steps including taking on record the Withdrawal Letter by the Board of Directors of the Company.
Yes BankYes Bank on Saturday said it has lost 8.74 per cent stake in Jhabua Power following the company’s debt resolution under the corporate insolvency process. Yes Bank had acquired 12,63,50,146 equity shares representing 8.74 per cent of the share capital of Jhabua Power for pledge. Yes Bank said in a regulatory filing on Saturday that the existing equity share capital held by existing lenders is extinguished and settled from the date of transfer without liabilities, claims or obligations against the company.
maruti suzukiMaruti Suzuki India on Friday said it will recall 5,002 units of its light commercial vehicle Super Carry to inspect and fix a faulty co-driver seat. The country’s largest carmaker said in a regulatory filing that the affected lots were constructed between May 4 and July 30, 2022. “The bolts attached to the seat belt buckle bracket of the co-driver seat are being recalled for inspection and torqueing,” the statement said.
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