Here is the list of top 10 stocks that will be in focus today
ONGCThe Oil and Natural Gas Corporation (ONGC) has signed six contracts for the Discovered Small Fields (DSF) offshore for areas located in the Arabian Sea and the Bay of Bengal, the company said on Saturday. The contracts were received under the DSF-III bidding round. These include four contract areas as the sole bidder and two contract areas in partnership with Indian Oil Corporation Limited (IOCL), a statement issued by ONGC said.
Titagarh WagonsThe Italian government and a UAE-based private equity firm have together picked up about 44 per cent stake in Firema SPA, a wholly-owned subsidiary of Titagarh Wagons, a top company official said on Sunday. He added that the company saw a “recapitalization of 20 million euros through new equity investments”, bringing the total capital to 33 million euros. The Italian government’s investment promotion agency Invitalia invested 10 million euros for 30.30 per cent stake and UAE-based PE firm Hawk Eye DMCC bought 13.64 per cent stake for 4.5 million euros, a company official said.
Hindustan CopperState-owned Hindustan Copper Limited (HCL), in its first phase of expansion, is looking to increase its copper ore production to 12.2 million tonnes per annum by FY29. The company’s copper ore production in FY 2012 was 3.57 million tonnes (MT). “HCL plans to increase mining capacity from its current level of ore production to 12.2 million tonnes per annum in the next 7 to 8 years,” the public sector unit said.
ACC Cement / Ambuja CementAdani Group chairman and Asia’s richest man Gautam Adani, his son Karan and nephew Pranav will join the board of two of India’s oldest cement companies, ACC Ltd and Ambuja Cements Ltd, with the top management and two cement companies in an overhaul of the board. The manufacturer, said two people directly familiar with the matter. Some board members of the two cement makers will step down after the Adani Group acquired the ownership of Holcim India in the two firms.
Reliance IndustriesReliance Petroleum Retail Limited on Saturday executed certain documents to buy the polyester business of Shubhalakshmi Polyesters Limited for cash. 1,522 crores. RIL’s branch will also buy polyester business of Shubhalakshmi Polytex Ltd. 70 crores. The total value of the two acquisitions is 1,592 crore through bearish selling based on ongoing concern, RIL said in a regulatory filing to the stock exchanges.
IRB Invitation FundIRB InvIT Fund on Friday said it is set to acquire the Vadodara Kim Expressway Hybrid Annuity Model (HAM) project in Gujarat from its sponsor IRB Infrastructure Developers Ltd at equity value. 342 crores. The project is part of the upcoming Delhi-Mumbai eight-lane greenfield expressway, IRB InvIT Fund said in a statement. The acquisition is subject to necessary compliances and approvals, and is expected to be completed by the end of October 2022, it added.
bank of indiaState-owned Bank of India (BoI) on Friday reported divergence in its asset classification for FY12, resulting in lower net profit for the year. 2,221 crore. The lender had reported a net profit 3,404.70 crore for 2021-22. According to a regulatory filing, there was a divergence of With a bank report of Rs 105 crore in gross non-performing assets (NPAs) of the bank, this 45,605.40 crore. However, as per the assessment of Reserve Bank of India (RBI), it came at a higher price of 45,710.40 crores.
Ashok LeylandHinduja Group flagship firm Ashok Leyland on Friday said it has joined hands with UK-based Libertine Holdings for its commercial vehicle powertrain. The commercial vehicle major has signed a Memorandum of Understanding (MoU) to evaluate the use of the Libertine technology platform for its commercial vehicle powertrains. Under the terms of the MoU, Ashok Leyland will do due diligence on Libertine’s technology and explore linear generator product development within its commercial vehicle portfolio.
HDFC bankLargest private lender HDFC Bank has signed an MoU with the Institute for Economic Development (IEG) to fund a chairman to conduct independent research. It will be known as ‘HDFC Bank Chair of Banking and Finance’ and will be housed at IEG Complex, New Delhi, the bank said in a statement. The bank said it would support the IEG for this chair with funding support for more than five years 6.75 crores, with effect from 1st September.
Mahindra LifespaceRealty firm Mahindra Lifespace Developers is looking to acquire some land parcels in this financial year to build sales potential housing projects. 3,000-4,000 crore, a top company official said. The company will acquire these lands either through outright purchase or through joint development agreements (JDAs) with the landlords. The company’s market cap recently touched USD 1 billion (approx.) 8,000 crore).
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