Stocks to watch: NTPC, Hindustan Zinc, Cipla, Bajaj Hindusthan Sugar

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

NTPC: The public electricity giant NTPC launched a call for tenders on Tuesday to raise 5,000 crore term loan from financial institutions. According to the document, bids can be submitted until 11 a.m. on August 31. The minimum loan amount offered by banks or FIs must be 500 crore or multiple of 500 crore. Loan proceeds will be used for capital expenditures, loan refinancing and other corporate purposes.

Hindustan Zinc: ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s remaining 29.53% stake in Hindustan Zinc Ltd, an official said on Tuesday. In addition, HDFC Bank and IIFL Securities will act as investment bankers and work with the government and handle stock offerings, the official said. No fewer than 6 investment bankers made a presentation to government officials on August 12.

cipla: Cipla has announced that it has appointed Ashish Adukia as Global Chief Financial Officer. Dinesh Jain, who served as the company’s interim CFO, will be relieved of his duties. Meanwhile, Jain will continue to serve as senior vice president and head of corporate finance.

Bajaj Hindusthan Sugar: State-owned SBI has filed for insolvency against the country’s largest sugar company, Bajaj Hindusthan Sugar Ltd. SBI, as financial creditor, filed the plea in the Allahabad Bench of the National Company Law Tribunal (NCLT). In a regulatory filing, Bajaj Hindusthan Ltd informed that “we understand that the State Bank of India, financial creditor through its solicitor, has initiated the process of resolving the corporate insolvency of Bajaj Hindusthan Sugar Ltd” .

future lifestyle: Future Lifestyle Fashions Ltd on Tuesday announced a widening of its consolidated net loss to 1,879.91 crores in the fourth quarter ended March 2022 due to store closures and higher expenses. The company had recorded a consolidated net loss of 149 crore in the January to March quarter a year ago, Future Lifestyle Fashions Ltd (FLFL) said in a regulatory filing. Its operating revenue in the quarter under review fell by 27.04% to 607.42 crores. It was to 831.62 crores in the March quarter of FY21.

Mahanagar Gas: Mahanagar Gas cut prices for piped natural gas (PNG) and compressed natural gas (CNG) on Tuesday, following an increase in the government’s allocation of locally produced natural gas. PNG price has been reduced by 4 per standard cubic meter at 48.50 per SCM, while that of CNG per 6 per kilogram for 80 per kg, according to an official statement. After the tariff review, the use of CNG will help a vehicle owner save 48% on fuel costs in the financial capital, Mahanagar Gas Ltd (MGL) has said.

Steel Authority of India Ltd: State-owned steelmaker SAIL will produce a number of special rails used in high-speed freight corridors and metro projects this year, according to a company official. SAIL has set up a facility for the production of hardened head (HH) rails in the new Universal Rail Mill (URM) at its Bhilai Steel Mill (BSP) in Chhattisgarh.

Bajaj Electrics: Durable consumer goods maker Bajaj Electricals on Tuesday elevated its chief executive Anuj Poddar to the position of managing director and chief executive officer (CEO). The company has separated the position of chairman and chief executive and its boss Shekhar Bajaj will continue as the company’s executive chairman, a statement from Bajaj Electricals said.

National Bank of India: The country’s largest lender, SBI, on Tuesday opened its first-ever start-up branch in Bangalore, which will be dedicated to financing and supporting start-up entrepreneurs in setting up new businesses through to listing on the stock exchange. The State Bank of India (SBI), during the inauguration of the ‘SBI Start-Up Branch’ at Koramangala, said that the facility comes under a pact between the Government of Karnataka and the SBI to further enhance the state startup ecosystem.

Techno Electrical & Engineering: According to information, the company has received new orders for flue gas desulphurization (FGD). An order is worth 666 crore and East of Rajasthan Rajya Vidyut Utpadan Nigam Limited Kota and another order worth 789 Crores is from Rajasthan Rajya Vidyut Utpadan Nigam Limited Jhalawar.

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Rachel J. Bradford