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Wednesday, October 4, 2023

Stock to Watch: Keystone Realtors, Adani Transmission, Indigo, HFCL, SBI

Here is the list of the top 10 stocks that will be in focus today:

Keystone Real Estate Agents: Keystone Realtors shares are expected to make their market debut on the BSE and NSE stock exchanges on Thursday. Keystone Realtors, which sells properties under the ‘Rustomjee’ brand, saw its initial public offering (IPO) receive subscriptions 2 times on the last day of the offering which was open from Monday, November 14, 2022 to Wednesday, November 16, 2022. The company had a new issue of up to $Rs 560 crore and an Offer to Sell (OFS) of up to $75 crores. The price range for the initial sale of shares was set at $514-541 one action.

Adani Transmission: The Supreme Court confirmed on Wednesday the $Transmission contract for Rs 7000 crore awarded by the Maharashtra Electricity Regulatory Commission to Adani Electricity Mumbai Infra Ltd. In doing so, it rejected Tata Power’s statement contesting this contract. Essentially, the highest court upheld an order issued by the Electricity Appeals Tribunal (Aptel).

InterGlobe Aviation: IndiGo on Wednesday launched flight services to Portugal and Switzerland via Istanbul under its codeshare partnership with Turkish Airlines. These new routes and frequencies will come into force on November 23. They will offer new options and more capacity for customers exploring travel between India and Europe in the upcoming holiday season, IndiGo said in a statement. These flights will serve business and leisure travelers, he said.

HFCL: Telecommunications equipment maker HFCL Limited plans to sell Wi-Fi hotspot routers directly to consumers beginning in the April-June quarter of FY24, which will be the business-to-business provider’s entry into the Wi-Fi segment. consumers. The routers will be designed and manufactured at its next plant in Manesar with an investment of $425 crore, so it has already received approval under the government-approved design-linked equipment manufacturing incentive (DLI) scheme, managing director Mahendra Nahata told the Mint.

Apollo tires: Apollo Tires on Wednesday announced a sustainable materials partnership with Tyromer Inc, which will supply it with recycled rubber material produced using environmentally sustainable processes. Through the partnership, Tire-Derived Polymer (TDP) will be used for new tires. Tyromer Inc, through its Indian partner Tyromer India LLP, is committed to supplying recycled rubber material, the company said in a statement.

SBI: State Bank of India (SBI) Chairman Dinesh Kumar Khara on Wednesday exuded confidence that the country’s largest lender will be able to maintain its performance on the asset quality side even amid high growth in loans. He said SBI, which earned investors’ confidence after posting stellar quarterly earnings recently, will also be able to keep net non-performing assets below 1% going forward.

Shriram Transport Financing: Shriram Capital Ltd, the holding company of Shriram Group, and Shriram City Union Finance will shortly merge with Shriram Transport Finance, the company said on Wednesday. Following the merger, Shriram Financial Ventures (Chennai) Pvt Ltd, the holding company of Shriram Capital Ltd, would now become the developer and holding company of the group’s insurance and financial services businesses.

M&M Financial Services: The country’s largest insurance firm, Life Insurance Corporation of India, bought an additional 2.01% stake in M&M Financial Services through open market transactions, according to its filing. This means that LIC has increased its shareholding in Mahindra and Mahindra Financial Services to 7.02% from the previous 5.01%.

TIC: ITC Hotels said on Wednesday that it has partnered with Jolle Hospitality for a 116-room hotel in Belagavi in ​​a bid to expand its presence in South India. The hotel, which is spread over more than 5 acres, is currently under construction and will likely be completed by 2024. It will be called ITC WelcomHotel Belagavi, according to a statement.

HEG: Insurance giant Life Insurance Corporation of India (LIC) dumped more than 2% of its equity stake or 7.76 lakh shares in HEG through open market transactions, according to the BSE filing. With this, LIC reduced its shareholding in the company to 4.84% from the previous 6.85%.

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