Here is a list of top 10 stocks that are likely to be in focus on Wednesday:
State Bank Of India, state Bank of India And ICICI Bank on Tuesday acquired 9.54 per cent stake each in Perfios Account Aggregation Services Private Limited (Perfios AA). Both the banks acquired 8,05,520 equity shares by paying 4.03 crores for each stake.
Tata SteelTata Steel Chairman N Chandrasekaran on Tuesday said the company will scale up the operations of Neelachal Ispat Nigam Limited to a rated capacity of 1.1 million tonnes per annum within the next one year after completing the acquisition.
Ruchi SoyaEdible oil firm Ruchi Soya Industries Ltd on Tuesday said the name of the company has been changed to Patanjali Foods Ltd with effect from June 24. In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya. 4,350 crore through insolvency process.
Novartis IndiaNovartis AG will cut 8,000 jobs by 2024 as part of a plan to save at least $1 billion and boost the pharmaceutical giant’s performance. The Swiss company on Tuesday detailed cuts equivalent to more than 7% of its global workforce after it outlined a restructuring plan in April. Among other things, Novartis plans to combine its pharmaceuticals and oncology units to generate savings.
root mobile: The board of the firm approved the proposal for buyback of equity shares at the cost of 1,700 crore per share, in total 120 crores.
Jammu and Kashmir Bank: The board of the bank has approved the equity share capital of up to 500 crore in one or more installments, and also 1,500 crore through non-convertible debentures on private placement basis.
V-Mart Retail: ICRA reaffirmed the firm’s credit rating and revised the outlook for long-term bank limits from stable to positive.
IDFC First Bank: ICRA has approved the current rating of IDFC First Bank Limited (ICRA AA/Stable) in respect of its non-convertible debentures of Rs. 25,813.70 crores.
plastic companiesUnion Environment Minister Bhupendra Yadav on Tuesday said the government has given industry and general public enough time to prepare for the ban on single-use plastic (SUP) items and expects everyone’s cooperation to implement it from July 1.
steel companiesThe government on Tuesday said 31 companies, including JSW Steel, Vedanta Ltd, NLC India Ltd, Jindal Power and Bharat Aluminum Company Ltd, have submitted bids for 24 mines under the commercial coal mines auction.