Stocks To Watch Today: SBI, SJVN, DCB Bank, REC, Infosys & More

Stock market today: Top 10 stocks to watch today on Thursday, 21st September.

DCB Bank

DCB Bank on Wednesday said in a stock exchange filing today that it has accorded its approval to HDFC Asset Management Company Limited to acquire aggregate holding of up to 9.5% of the paid-up share capital or voting rights of the bank. "AMC has been advised by the RBI to acquire the aforesaid major shareholding in the Bank within a period of one year from the date of approval. If AMC fails to acquire major shareholding within stipulated period, the approval granted by the RBI shall stand cancelled. Further, AMC must ensure that the aggregate holding in the Bank does not exceed 9.5% of the paid-up share capital or voting rights of the Bank at all times," said DCB Bank in a stock exchange filing.

SBI

State Bank of India on Wednesday appointed KFin Technologies Limited as the Registrar & Share Transfer Agent (RTA) of the bank in place of existing RTA M/s. Alankit Assignments Ltd. The documentation, electronic connectivity, and data transfer processes for the Change of RTA are all underway. But until the database and electronic connectivity are transferred to KFin Technologies Limited and the necessary confirmations have been received in this respect from NSDL and CDSL, Alankit Assignments Ltd. will continue to serve as the bank's RTA.

REC

"After receipt of consideration comprising of professional fees of Bid Process Coordination, interest cost and reimbursement of expenditure incurred on the project by REC Power Development & Consultancy Limited (RECPDCL), wholly owned subsidiary of REC Limited (REC), the entire shareholding of Beawar Transmission Limited, comprising of 50,000 equity shares, presently held by RECPDCL, has been transferred at par value along with all its assets and liabilities on September 20, 2023 to Mi s Sterlite Grid 27 Limited, the successful bidder selected through tariff based competitive bidding process to establish Inter-State transmission system for "Transmission system for evacuation of power from REZ in Rajasthan (20GW)," said REC in a stock exchange filing on Wednesday.

Infosys

The IT giant and NVIDIA have partnered to create generative AI software and apps. The new connection unites Infosys Topaz, an AI service package that was unveiled earlier this year, with Nvidia AI Enterprise. Together, both organisations will educate 50,000 Infosys employees on NVIDIA AI.

SJVN

In an offer for sale, the government aims to sell up to 4.92 percent of its ownership in a hydroelectric power generator, according to a filing with the exchange. With a green shoe option to sell an additional 9.66 crore shares or 2.46 percent of the whole equity, the base offer will have a maximum share sale of 9.66 crore, or 2.46 percent of the total equity. For non-retail investors, OFS will open on September 21 and for retail investors, on September 22. The oversubscription option allows OFS to sell an additional 2.46% shareholding.

Biocon

The European Commission awarded Unit Biocon Biologics marketing authorization in the EU for YESAFILI, a biosimilar of Aflibercept. For the 12 months ending December 31, 2022, IQVIA reports that Aflibercept's EU brand sales were over $1.8 billion. "We are very pleased to receive the European Commission's approval of our YESAFILI® biosimilar as we continue to expand our biosimilar offerings across the globe, building on our oncology and diabetes product portfolio. We look forward to making a meaningful difference to patients in the EU impacted by macular degeneration and diabetic retinopathy," said a company spokesperson.

Exide Industries

Exide Industries Limited has invested Rs. 124,99,99,980 by way of subscription in the equity share capital of its wholly owned subsidiary, "Exide Energy Solutions Limited" on rights basis.

WPIL

The Ministry of Defence has awarded the company a contract for Rs 14.3 crore, to be completed over a 24-month period, for the provision of a variety of onboard centrifugal pumps and spare parts for various classes of ships.

Godrej Properties

Godrej Properties, a real estate company, said on Wednesday that it has raised Rs 1,160 crore through the private offering of non-convertible debentures. The company stated in a regulatory filing that the Board of Directors' allotment committee had given its approval for the issuance of the Non-Convertible Debentures (NCDs). According to Godrej Properties, the company has issued one lakh rated listed unsecured redeemable NCDs with a face value of Rs. 1,00,000 apiece, totalling Rs. 1,000 Cr.

Sheela Foam

The manufacturer of the well-known mattress brand Sleepwell has started a Qualified Institutional Placement (QIP) to raise funds totalling Rs. 1,200 crore as it prepares for a large capital injection. The basic size of the QIP has been set at Rs 1,000 Cr.