Stocks To Watch Today: Saregama, Yes Bank, Emami, SBI Life & More

In the trading session of the Indian stock market today, here are the stocks that are likely to be under spotlight on 29th September, Friday.

WeP Solutions

A Strategic Partnership Agreement has been signed between FUJIFILM India Private Limited and WeP Solutions Limited. To target the digital printing market in India, Wepsol shall offer system integration services and sell and support FUJIFILM's cutting-edge product line under Office solutions.

"Through this partnership, both FUJIFILM and Wepsol intend to leverage the strengths of each other and meet the demands of enterprise customers in the Indian market. Enterprises looking for scalable and secure digital printing solutions with nationwide services coverage, shall now have access to sophisticated technology and reliable services to accelerate their growth," said the company in a stock exchange filing.

Chola Investment Finance

On September 28, the company started a qualified institutional placement. With the aim of raising up to Rs 2,000 crore, the company has started a Qualified Institutional Placement (QIP) and will issue Compulsorily Convertible Debentures (CCDs).

Firstsource Solutions

The company's wholly owned subsidiary, Firstsource Solutions UK Limited, has established a new wholly owned subsidiary in South Africa under the name FIRSTSOURCE BPO SOUTH AFRICA (Pty) Ltd. The aforementioned step-down subsidiary company launched on September 27, 2023.

Welspun Living

With effect from September 27, 2023, the company's name will change from "Welspun India Limited" to "Welspun Living Limited," according to approval from the Registrar of Companies in Ahmedabad.

Yes Bank

YES Bank on September 28 2023, further acquired 1,79,37,200 equity shares of INR 10 each at a premium of INR 45.75 per share, of YES Securities (India) Limited, a wholly-owned subsidiary of the Bank, for an amount aggregating to INR 99,99,98,900 under the rights issue.

Uno Minda

By purchasing an additional 26% stake from its joint venture partner Westport Fuel Systems Italia S.r.l., Uno Minda Limited has announced that its Board has authorized raising its shareholding position in Minda Westport Technologies Limited (MWTL) from 50% to 76%. About Rs 14.81 crores will be required to acquire a 26% share.

On or before the 31st of March 2024, the purchase of shares is anticipated to be completed. The joint venture agreement between Uno Minda and Westport is also being amended to incorporate future hydrogen components in addition to CNG/LNG/LPG components and Kits throughout the JV region of South Asia, which includes India, Bhutan, Sri Lanka, and Nepal. In addition to acquiring an additional 26% of Westport, MWTL is also acquiring Rohan BRC Gas Equipment Pvt. Ltd.'s assets, which is a Westport wholly-owned subsidiary.

NLC India

For the projected Neyveli Talabira Super Critical Thermal Power Station (NTTPP) in Odisha, NLC India Limited (NLCIL) and GRIDCO Limited signed a Power Purchase Agreement (PPA) at GRIDCO Limited in Bhubaneswar for 400 MW in Stage-1 and 400 MW in Stage-2. With this agreement, NLCIL has tied up its full capacity of 2400 MW of Neyveli Talabira Super Critical Thermal Power Station Stage-1 as per a stock exchange filing.

Similar contracts were previously signed by NLCIL with Tamil Nadu, Kerala, and Pondicherry for 1,500 MW, 400 MW, and 100 MW of power supply from Neyveli Talabira Super Critical Thermal Power Station Stage-I, respectively. Currently, 400 MW of the second phase's 1x800 MW capacity of NTTPP is tied up with GRIDCO Odisha.

Saregama India

Saregama acquired a majority stake in Pocket Aces Pictures Private Limited, which has a close relationship with 95 million or more younger, digital-first consumers on platforms like Instagram, YouTube, etc. With a clear road to acquire another 41% stake over the next 15 months at pre-agreed multiples, Saregama will purchase 51.8% of the shares for Rs 174 crores. The agreement is entirely cash-based. This acquisition will support Saregama's strategic goal of being the industry leader in new music for all Indian languages.

EmamI

A large FMCG company announced its entry into the health juice market by purchasing a 26% stake in Axiom Ayurveda Pvt Ltd.

SBI Life

The board of the life insurance company has approved the appointment of Amit Jhingran as managing director and CEO, commencing on October 1. Mahesh Kumar Sharma, the current functionary, will take over as deputy managing director of SBI, Corporate Centre.