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Stocks To Watch Today: Central Bank Of India, Kirloskar Industries, M&M, NDTV, Yes Bank

Here's a look at the key stocks to watch today, even as SGX Nifty indicated a positive start for the Nifty 50.

<div class="paragraphs"><p>(Photo:&nbsp;Philipp Katzenberger/ Unsplash)</p></div>
(Photo: Philipp Katzenberger/ Unsplash)

Asian stocks opened lower after US shares declined and US Treasury yields held near multi-year highs as investors position for a hefty interest rate hike from a hawkish Federal Reserve.

Equities fell in Japan, Hong Kong and Australia after the S&P 500 Index dropped more than 10% below the August high marking the peak of its rally from this year’s low. US contracts fluctuated and European stock futures fell.

A dollar gauge traded near a record high amid the market jitters while bitcoin remained under pressure below the $19,000 level.

Stocks to Watch

  • Yes Bank: The private lender will sell its Rs 48,000 crore bad loan portfolio to JC Flowers ARC. The bank’s board has also approved the purchase of 19.99% stake in JC Flowers Asset Reconstruction Company, subject to regulatory approvals.

  • Moreover, RBI has approved the appointment of Rama Subramaniam Gandhi as the non-executive (part-time) chairman of the bank for a period of three years, effective from Sept. 20.

  • Central Bank of India: The RBI has taken Central Bank of India out of the prompt corrective action framework. The bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments, RBI said in a statement.

  • NDTV: Founder-promoters Prannoy Roy and Radhika Roy and RRPR Holding have each filed a civil appeal in the Supreme Court against the SAT order, dated July 20, 2022, asking them to pay Rs 5 crore as penalty for the alleged non-disclosure of loan agreements entered by them.

  • Kirloskar Industries/Mahindra & Mahindra: Kirloskar Industries, a promoter of Swaraj Engines, has proposed to sell its entire stake to co-promoter Mahindra & Mahindra. The former will offload of 21.14 lakh equity shares, or 17.41% of the entire shareholding, at a price of Rs 1,400 per share. The stake of Mahindra & Mahindra in SEL will increase from 34.72% to 52.13% after the acquisition.

  • Tamilnad Mercantile Bank: The RBI has declined the request for appointment of B. Vijayadurai as part time non-executive chairman of the bank and asked it to submit a fresh proposal of another independent director for the post.

  • Piramal Enterprises: The company’s board has approved the motion to raise Rs 215 crore through NCDs on a private placement basis. The board will again meet on Sept. 23 to discuss the proposal to raise Rs 750 crore via non-convertible debentures.

  • NBCC (India): The company has secured the total business of Rs 274.77 crore during August 2022.

  • Zydus Lifesciences: BridgeBio Pharma and Zydus-owned Sentynl Therapeutics received marketing authorisation in the EU for Nulibry (fosdenopterin). The drug is used for the treatment of ultra-rare and progressive disease MoCD Type A.

  • Wipro: Wipro has partnered with Finastra to offer digital transformation services to corporate banks in India. This partnership combines Wipro’s expertise across consulting, digital, infrastructure and operations, with Finastra’s cutting-edge solutions to deliver modern API enabled platforms for banks to innovate, streamline and digitize core trade finance processes, while reducing cost overheads.

  • Fino Payments Bank: Fino Payments Bank will buy 12.19% stake in fintech player PaySprint for Rs 4 crore.

  • Aditya Birla Fashion: The company board has approved allotment of 1.02 crore shares worth Rs 295 crore at Rs 288.75 apiece, and 6.58 crore warrants at Rs 288.75 per warrant amounting to Rs 1,900 crore to Caladium Investment.

  • Hero MotoCorp/Hindustan Petroleum Corporation : Hero MotoCorp and Hindustan Petroleum Corporation have entered into a collaboration to establish charging infrastructure for two-wheeler EVs in the country.

Bulk Deals

  • Best Agrolife: Quant Mutual Fund bought 3.22 lakh shares (1.36%) at Rs 1,239.04 apiece and bought 1.78 lakh shares (0.75%) at Rs 1,222.60 apiece. Raj Kumar sold 5.25 lakh shares (2.22%) at Rs 1,240.9 apiece and 2.75 lakh shares (1.16%) at Rs 1,210.68 apiece.

  • Mangalam Cement: Umang Commercial Company sold 3.41 lakh shares (2.15%) at Rs 384.11 apiece.

Pledge Share Details

  • Ambuja Cements: Promoter group Endeavour Trade And Investment pledged 7.02 lakh shares on Sept. 15.

  • Patel Engineering: Promoter Raahitya Constructions revoked pledge of 1 crore shares on Sept. 12.

  • Jindal Steel & Power: Promoter Group Opelina Sustainable Services revoked 10.99 lakh shares on Sept. 14.

  • Inox Wind: Promoter Inox Wind Energy revoked pledge of 7.62 lakh shares between Sept. 15 and 16.

Insider Trades

  • Ultramarine & Pigments: Promoter Group Deepa Ajay sold 4,500 shares and promoter Daya Sridhar sold 4,577 shares on Sept. 19.

  • Cosmo First: Promoter & Director Ashok Jaipuria bought 11,000 shares between Sept. 19 and 20.

  • Vinyl Chemicals (India): Promoter Groups Harish Himatlal Parekh and Kamalini Rashmikant Parekh sold 10,000 shares and 5,055 shares on Sept. 16.

  • Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 19.

  • India Pesticides: Promoter & Director Anand Swarup Agarwal bought 2.05 lakh shares between Sept. 15 and 16.

Who’s Meeting Whom

  • Life Insurance Corporation of India: To meet investors and analysts on Sept. 21.

  • Ultratech Cement: To meet investors and analysts on Sept. 21.

  • Zen Technologies: To meet investors and analysts on Sept. 21.

  • Raymond: To meet investors and analysts on Sept. 21.

  • Havells India: To meet investors and analysts on Sept. 21. 

AGMs

  • BLS International Services

  • Century Plyboards (I)

  • CMS Info Systems

  • Eclerx Services

  • Greenply Industries 

Trading Tweaks

  • Ex-Date Final Dividend: Ambika Cotton Mills, Caplin Point Laboratories, Cochin Shipyard, Gujarat Fluorochemicals, Goodluck India, KNR Constructions, Mishra Dhatu Nigam, NLC India, PNC Infratech, Radico Khaitan, Responsive Industries, Shivalik Rasayan, SJVN, Sree Rayalaseema Hi Strength Hypo, 

  • Ex-Date Bonus: Eclerx Services

  • Ex-Date Dividend: Gujarat Alkalies & Chemicals, Jindal Poly Films, La Opala RG, Vadilal Industries, Zen Technologies

  • Record-Date Bonus: IFL Enterprises

  • Record-Date Final Dividend: Zuari Industries, Vijaya Diagnostic Centre, Valiant Organics, Sandur Manganese & Iron Ores, Privi Speciality Chemicals, Best Agrolife

  • Record-Date Dividend: Reliance Industrial Infrastructure, Jindal Steel & Power

  • Move Out Of Short-Term ASM Framework: Igarashi Motors India