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Buzzing Stocks… with EZ Wealth – September 17, 2021
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Balkrishna Industries (stock down 0.26%): The company has commenced the trial production at Green Field Project in Aurangabad, Maharashtra with an installed capacity of 30,000 MT per annum along with warehousing facility for raw materials and finished good
Biocon (stock up 1.95%): The Board of Directors of Biocon Biologics Limited (BBL), a material subsidiary of Biocon approved the merger of Covidshield Technologies Private Limited, a wholly-owned subsidiary of Serum Institute Life Sciences Private Limited into BBL
Hero MotoCorp (stock up 0.45%): The company will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20, 2021, which will offset the impact of steadily increasing commodity prices
Hindustan Copper (stock down 0.25%): Offer for sale for non-retail investors gets 141% demand as compared to the shares on offer. Demand at indicative price of Rs 116.12 per share. Consequently, the seller has decided to exercise the oversubscription option to the extent of 1.99 crore, representing 2.06% of the total equity share capital, in addition to the base offer size of 4.83 crore equity shares. The OFS for retail investor opens today
Infosys (stock up 0.38%): Frost Bank selected Infosys as strategic partner to launch new mortgage loan product offering
JM Financial (stock up 0.60%): The company’s unit JM Financial Products Ltd plans to raise up to ₹500 crore through public issue of bonds. The unit will come out with tranche I issue of secured, rated, listed, redeemable, non-convertible debentures of face value of ₹1,000 each with a base issue size of ₹100 crore
JSW Steel (stock up 1.46%): The company has raised $1 billion by issuing sustainability-linked bonds in the offshore market. Issue comprised of two tranches of 5.5 years and 10.5 years, each of $500 million. Proceeds will be used for capex and to refinance debt
Kotak Mahindra Bank (stock up 1.24%): Kotak Mahindra Group has acquired vehicle financing portfolio of Volkswagen Finance
NCL Industries (stock up 2.16%): 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
Saregama India (stock down 5%): The company plans to raise funds up to ₹750 crore through an additional issue of securities via options like private placement, preferential issue, public issue, or through qualified institutional placement, it said in a regulatory filing
Vodafone (stock up 1.33%): The government could hold anything between 30-70% in Vodafone Idea based on an assumed share price of Rs 10, thanks to an equity option offered by the government for converting the company’s dues after four year moratorium
TVS Motor Company (stock up 1.73%): The company announced a partnership with EGO Movement as a majority shareholder, in an all-cash deal through its Singapore Subsidiary TVS Motor (Singapore) Pte Ltd
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