NEW DELHI: Here are the top 10 stocks that could be in focus on Wednesday State Bank of India The Reserve Bank of India (RBI) on Tuesday said it has imposed a penalty of ₹2 crore on India’s largest lender State Bank of India for non-compliance of regulations in payment of remuneration to its employees through commissions.
SBI Cards & Payment Services: American private equity firm Carlyle Group will sell its stake worth Rs3,730 crore or $513 million in SBI Cards & Payments Services Ltd through a block deal, according to deal terms seen by Mint. As of 31 December, Carlyle held a 15.86% stake in the credit card company.
BPCL: State-run oil refiner Bharat Petroleum Corp Ltd (BPCL) on 16 March declared second interim dividend of ₹5 apiece for the financial year 2020-21. The record date has been fixed as 27 March to determine the eligibility of shareholders to receive the said interim dividend.
Gland Pharma: Gland Pharma Ltd, the Indian unit of China’s Fosun Pharma, said it has agreed to produce as many as 252 million doses of Russian Direct Investment Fund’s (RDIF’s) Sputnik V covid-19 vaccine at its Hyderabad facility.
AU Small Finance Bank: On Tuesday said it has raised ₹625.5 crore through a qualified institutional placement (QIP) of 5 million shares at ₹1,251 apiece. The issue, the bank said, was launched post-market hours on 9 March at a floor price of ₹1,181.06 per share and witnessed strong demand from investors.
Shriram City Union Finance: The Banking and Securities Management Committee of the company on Tuesday approved the issue of secured rated listed redeemable principal-protected market-linked (PP-MLD) non-convertible debentures (NCDs) of the face value of Rs10,00,000 each, aggregating up to 5,000 NCDs amounting to Rs500 crore.
Airline stocks: Oil marketing companies on Tuesday raised prices of aviation turbine fuel (ATF) by about 8% month-on-month as global crude oil prices firmed on improved demand. ATF or jet fuel prices have risen about 18% since 1 January.
Tata Communications: The government is selling its 10% stake in the company, with an option to liquidate an additional 6.12%. As of 31 December, the government held 26.12% stake through the President of India. Panatone Finvest, an investment arm of Tata Sons, owns 34.8%, while Tata Sons has 14.07% stake in the company.
Tech Mahindra: Has acquired a 70% stake in Ireland-based Perigord Asset Holdings Ltd. The deal will happen for a cash consideration of €21 million. This acquisition seems logical as it will help Tech Mahindra expand its capabilities in the global pharmaceutical, healthcare, and life science segment, according to analysts.