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Stocks to watch: Biocon, Hero Moto, Poonawalla Fin, TVS Motor, bank stocks

Hero MotoCorp on Thursday said it will increase the price of its entire model range by up to Rs 3,000 from September 20

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SI Reporter  |  New Delhi 

Nifty futures on Singapore Exchange traded 87 points higher at 17,692 around 8.45 am, indicating a firm start for the benchmark indices on Friday.

Here are the top stocks to track in today's session:

Bank stocks: The Union Cabinet approved a government guarantee of up to Rs 30,600 crore for security receipts to be issued by National Asset Reconstruction Company Ltd (NARCL).

Biocon: Biologics, a subsidiary of Biocon, on Thursday said it will offer around 15 per cent stake to Serum Institute Life Sciences at a post-money valuation of about USD 4.9 billion. Serum Institute Life Sciences (SILS) is a subsidiary of Serum Institute of India (SII).

Mangalore Chemicals and Fertilizers: The company has appointed Shubhabrata Saha as its Managing Director for five years. The company's board of directors at its meeting on Thursday considered and approved the appointment of Saha as the Managing Director for a term of five years with effect from September 16, according to a regulatory filing.

JM Financial: Its subsidiary JM Financial Products Ltd plans to raise up to Rs 500 crore through public issue of bonds.

Zee Entertainment Enterprise: The company backed its two independent directors Ashok Kurien and Manish Chokhani, who had resigned this week after two of its largest shareholders sought their removal. ZEEL has also "strongly condemned" the allegations levelled by certain proxy advisory firms against its former non-executive directors, the company said in a statement.

Hero MotoCorp: The country's largest two-wheeler maker on Thursday said it will increase the price of its entire model range by up to Rs 3,000 from September 20. The price hike has been necessitated to offset the impact of steadily increasing commodity prices, the company said in a statement.

IndusInd Bank: UBS Principal Capital Asia Ltd on Thursday sold IndusInd Bank shares worth nearly Rs 354 crore through an open market transaction. Bulk deal data with the BSE showed that over 33.91 lakh shares were offloaded at an average price of Rs 1,034.5 apiece.

Poonawalla Fincorp: Managing Director Abhay Bhutada stepped down from the company on Thursday, a day after being barred from the securities by regulator Sebi for alleged insider trading. Poonawalla Fincorp Ltd Group CEO Vijay Deshwal will continue to run the operations of the firm, the statement added.

Ujjivan SFB: The Reserve Bank has given its go-ahead to Ujjivan Small Finance Bank (SFB) to form a special committee of directors to oversee operations in the absence of an MD and CEO.

Kotak Mahindra Bank: The lender announced the acquisition of German carmaker Volkswagen's captive vehicle finance business for an undisclosed sum. The deal involves the private sector lender's in-house NBFC Kotak Mahindra Prime acquiring the passenger car and two-wheeler portfolio, while Kotak Mahindra Bank Limited (KMBL) will acquire the commercial vehicles portfolio from Volkswagen Finance (VF), as per an official statement.

Company: The company has bought a majority stake in Switzerland-based e-bike brand EGO Movement for 16.6 million Swiss francs (around Rs 131 crore) to foray into the personal e-mobility segment.

Hindustan Copper: The government's up to 10 per cent stake sale in Hindustan Copper got off to a good start on Thursday with institutional investors putting in bids of over Rs 700 crore. As against the over 4.35 crore shares on offer, institutional investors put in bids for more than 6.14 crore shares, or 1.41 times the offer size, as per data on the NSE.

JSW Steel: The company has raised USD 1 billion through issuance of Sustainability Linked Bonds (SLBs) in the overseas market.

Infosys: Frost Bank selected Infosys as strategic partner to launch new mortgage loan product offering.

NCL Industries: CRISIL has upgraded the long term and short term ratings of the company's bank loan facilities (Rs 396 crore) to 'A'/Stable from 'A-' and 'A1' from 'A2+' respectively.

Indiabulls Housing Finance: The company has approved Rs 231.48 per foreign currency convertible bond as the floor price for a $200 million issue that opened on Thursday.

Cosmo Films: The company will set up of new production line for Biaxially Oriented Poly Propylene Film at Aurangabad, Maharashtra with rated capacity of 67,000 MT annually. The Rs 350 crore investment required for production line will be met via internal accrual, debts.

Intellect Design Arena: The company has signed a multiple-year digital transformation deal with Resurs Bank, a Nordic bank with market leadership in sales finance business. The bank has chosen Intellect to implement Intellect Digital Core and iKredit360.

Capri Global Capital: Shareholders approved raising of funds through issuance of equity or equity linked securities aggregating up to Rs 1,500 crore.

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First Published: Fri, September 17 2021. 08:51 IST
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