Stocks to watch: Tata Power, Maruti Suzuki, TVS Motor, ONGC, IDFC

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

Tata power: A branch of Tata Power has raised $320 million via sustainability-linked loans (SLLs) to refinance its debt. SLLs are generally available at up to 0.25% cheaper than conventional loans, financial industry watchers have said. The loan raised by the overseas arm of Tata Power is a three-year fixed term loan for general corporate purposes. The company has committed to certain Key Performance Indicators (KPIs) in order to get the loan recognized as SLL.

Maruti-Suzuki: Maruti Suzuki India announced on Wednesday that it is recalling 166 Dzire Tour S units to replace faulty airbag components. The affected batch of the compact sedan was manufactured between Aug. 6 and Aug. 16 this year, the nation’s largest automaker said in a regulatory filing. “The recall is being undertaken to replace the airbag control unit in these vehicles free of charge,” he added.

TVS engine: TVS Motor Company announced on Wednesday that it will acquire a 48% stake in Narain Karthikeyan’s used two-wheeler startup, “DriveX”, for a consideration of 85 crores. The company announced that it will acquire a 48.27% stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the “DriveX” brand. Founded by Formula 1 driver Karthikeyan, DriveX is engaged in the rental of motorcycles and two-wheeled scooters and the sale, trade and distribution of used motorcycles and two-wheeled scooters.

Mahindra Logistics: Mahindra Logistics is set to offer the third and final unit of its warehousing facility at Luhari in Delhi-NCR region in addition to adding two more at Bhiwandi and Nashik in the current quarter of this fiscal year said a senior company official. The company is now also looking beyond major cities to improve its warehousing footprint in the second phase of its network expansion, as it sees increased demand from smaller cities such as Lucknow, Patna and Guwahati, between others.

IDFC: IDFC Limited announced on Wednesday that its Board of Directors has approved the appointment of Mahendra N Shah as Managing Director (MD) of the company with effect from 1 October 2022. Sunil Kakar’s tenure as Managing Director and CEO of the company will end at the close of business hours on September 30, 2022. Shah has been the Corporate Secretary and Chief Compliance Officer of IDFC Limited since May 24, 2019.

CGSB: Oil and Natural Gas Corporation (ONGC) has relaunched a tender to sell gas from its KG fields at a higher price of US$15 per mmBtu as it seeks to take advantage of the global oil price spike ‘energy. The company has solicited bids for the sale of 0.75 million standard cubic meters per day of gas for one year from the KG-DWN-98/2 (KG-D5) fields in the Bay of Bengal, according to the document. tender.

Bandhan Bank: Bandhan Bank will open an additional 551 branches in FY 2022-23, as part of the lender’s aim to boost distribution in other parts of India outside the Eastern region, director says General Chandra Sekhar Ghosh. With the latest addition, the number of branches of the Kolkata-based bank will exceed 6,000, he said.

Lupine: Lupine announced on Wednesday that it has received USFDA approval for formoterol fumarate inhalation solution, used in the treatment of symptoms of chronic obstructive pulmonary disease. The company has received US Food and Drug Administration (USFDA) approval for the product which is a generic version of Mylan Specialty’s Perforomist inhalation solution, the Mumbai-based drugmaker said in a statement. communicated.

Wipro: IT company Wipro Limited on Wednesday announced the appointment of Wagner Jesus as country manager and general manager of operations in Brazil. Wagner joined Wipro three years ago, leading the non-financial business cluster. Wagner holds a management certification from Harvard Business School, a Master of Business Administration (MBA) from FIAP, Brazil, and a Bachelor’s degree in Computer Science from Vale do Paraiba University, also in Brazil.

Vedanta: Oil-metals conglomerate Vedanta Ltd said on Wednesday it would not cut its $2 billion investment target for the current fiscal year despite falling metal prices. Vedanta has planned a total investment of approximately $2 billion in its zinc, oil and gas, and aluminum businesses in FY23. investment for the current financial year). We cannot stop the project in the meantime and these are all brownfield projects where the returns are very good and this will make our operation more effective, more productive, more efficient”, has said Vedanta CEO Sunil Duggal.

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