Stocks to Watch: HDFC Bank, SBI, Bank of India, Bharti Airtel, Mamaearth

HDFC Bank: The private sector lender has sought approval from shareholders for re-appointment of Sashidhar Jagdishan as managing director and chief executive officer of the bank and the appointment of V Srinivasa Rangan as executive director of the bank. 

State Bank of India: India’s largest lender, State Bank of India, is acquiring 20% stake in SBI Pension Funds for ₹229.5 crore. The stake is held by SBI Capital. With this transaction, the lender’s stake in SBI Pension Funds will hit 80%.

Bharti Airtel: Has received an order for penalty of ₹3.95 lakh under the CGST Act. The company said it does not agree with the order and will take appropriate action.

Bank of India: The public sector lender has launched a qualified institutional placement (QIP) at floor price of 105.42 rupees apiece, it said in a regulatory filing on Monday. It is reportedly looking to raise up to ₹4,500 crore.

Canara Bank: The public sector will likely issue AT-1 bonds in December to raise up to ₹2,000 crore to ₹3,000 crore. The issue is likely to have a call option at end of five years. Canara Bank last raised ₹2,000 crore in September 2022 through AT-1 bonds at 7.99% coupon.

Honasa Consumer: Fireside Ventures Investment Fund I has offloaded ₹230.15 crore worth of shares in Honasa Consumer, the parent company of the beauty and personal care products brand Mamaearth. About 60.88 lakh shares were sold at an average price of ₹378 apiece. 

Ashok Leyland: Has raised its stake in Switch Mobility’s holding company to 92.19% from 91.63%. It had deployed around ₹662.5 crore as the first tranche of a planned ₹1,200 crore investment.

Somany Ceramics: Has fixed 15 December as the record date for its ₹125 crore share buyback at ₹850 apiece.

Power Grid Corp: Has emerged as the successful bidder to set up an inter-state transmission system project in Gujarat. The project comprises setting up a new 765/400kV switching station at Vataman in Ahmedabad, three 765kV D/C transmission lines, as well as extension works at Navsari and Halvad substations.

Eicher Motors: Royal Enfield, part of Eicher Motors, on Tuesday said it has ventured into the pre-owned bike segment. Royal Enfield has introduced Reown, a new company-operated, pre-owned motorcycle business venture, that allows existing and prospective customers to buy or sell their Royal Enfield motorcycles, and exchange their motorcycles and upgrade to a new bike with ease.

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Published: 06 Dec 2023, 07:23 AM IST