SBI, GMM Pfaudler, Manappuram Finance, Muthoot Finance, M&M

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NEW DELHI :
Here is a list of the top ten stocks likely to make the news on Tuesday:

National Bank of India: The country’s largest lender has raised 7,000 crore by issuing Basel III compliant bonds. “The Committee of Directors for Capital Raising, at its meeting on September 21, 2020, approved the allocation of 70,000 non-convertible, taxable, redeemable debt securities … in accordance with Basel III in the form of debentures totaling 7,000 crore, to bondholders, “SBI said in a regulatory filing. The allocation of bonds to bondholders took place on the same date, September 21, 2020, he added.

Indian Oil Corp: The country’s largest oil marketing company, Indian Oil Corporation, to invest 17,825 crore to implement the integration of petrochemicals and lubricants in its refinery in Gujarat. “The integration of Polypropylene and Lubricating Oil Base Stock Units (LOBS) will improve the Gujarat Refinery Petrochemical and Specialty Product Integration Index,” said Shrikant M Vaidya, President of IOCL, at of the 61st annual general meeting of the company.

GMM Pfaudler: The promoter group of the company which includes Pfaulder Inc., Millars Machinery Company Private Limited and Urmi Patel, proposed to sell 40.93 lakh participation shares representing approximately 28.00% of the total share capital released through a sale offer (OFS ). The basic offer is for 25.7 lakh shares (17.59%), with an over-subscription option of 15.22 lakh shares (10.41%). The FSO floor price has been set at 3,500 per share.

HDFC Bank: The lender said it is aware of a recent complaint against the bank and its three employees in the United States, but denies the allegations and intends to “defend itself vigorously”. HDFC Bank expects its response to the lawsuit to be expected in early 2021, it said in a regulatory filing.

NBFC: On Monday, Fitch Ratings took rating action on the default ratings of long-term issuers of four non-bank financial companies. Shriram Transport Finance Company’s rating has been confirmed at “BB” and Rating Watch Negative (RWN) has been removed. IIFL Finance Limited’s “B” rating has been maintained on RWN. Manappuram Finance’s rating was confirmed at “BB-” and RWN was removed. Muthoot Finance’s rating was also confirmed at “BB” but RWN was removed. The agency maintained a stable outlook for Manappuram and Muthoot.

Mahindra and Mahindra: The American automobile distributor HAAH Automotive Holdings has contacted Mahindra & Mahindra Ltd (M&M) in India to offer to invest 258 million dollars in the Korean subsidiary of the latter SsangYong Motor Company, according to a report by the Korean Investors news agency. . The report says the Indian automaker, which owns 75% of SsangYong Motor’s capital, is reviewing the proposal submitted by HAAH last week.

HSIL: The company has approved the proposal to buy back fully paid participating shares with a par value of 2 each at a maximum redemption price of 105 per share for a total amount of 70 crore. The maximum size of the buyback offer represents 7.19% of the total paid-up share capital.

JSPL: The company has clarified media reports regarding some transactions made between 2014 and 2016, claiming that all deals entered into by the company were part of day-to-day business activities and all transactions had appropriate underlying assets. All these transactions are carried out strictly within the required legal framework and in accordance with the law of the country, he added.

Reliance Capital: Lenders from Reliance Capital Ltd (RCL) commissioned SBI Caps and JM Financial to sell the company’s assets after the Anil Ambani-owned company defaulted on debt to debentureholders and other creditors, Commercial standard reported.

Agricultural enterprises: Amid protests against agricultural bills, the Cabinet Committee on Economic Affairs (CCEA) on Monday approved a hike in the minimum support price (MSP) for rabi crops.

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