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Stocks in news: SBI, Spandana Sphoorty, PB Fintech, Ashoka Buildcon and more


Benchmark indices closed lower on Wednesday amid mixed global cues ahead of the US Fed decision on interest rates. Sensex fell 262.96 points or 0.44 per cent to end at 59,456.78. During the day, it tanked 444.34 points or 0.74 per cent to 59,275.40. Nifty declined 97.90 points or 0.55 per cent to close at 17,718.35.

Share Market News Today Live Updates: Sensex, Nifty to stage gap-down opening after US interest rate hike

Here’s a look at stocks that are likely to remain in news today.

HDFC Bank: The lender has inked a long-term partnership with London Stock Exchange group’s Refinitiv for digital transformation, new customer acquisition and reduce costs. Refinitiv is one of the world’s largest providers of financial markets data and infrastructure.

State Bank of India: The largest public sector lender has raised Rs 4,000 crore by issuing bonds at a coupon rate of 7.57 per cent. The fund has been raised by issuing Basel III compliant tier II bonds. The issue attracted bids worth Rs 9,647 crore, which was oversubscribed by about 5 times against the base issue size of Rs 2,000 crore.

PB Fintech: The new age fintech player will invest Rs 650 crore in subsidiary Policybazaar Insurance Brokers, and also invest Rs 250 crore in another subsidiary Paisabazaar Marketing And Consulting.

Triveni Engineering & Industries: The sugar firm has sold its entire 21.85 per cent stake in Triveni Turbines for about Rs 1,600 crore. The shares have been sold to Rati Sawhney, one of the promoter of Triveni Turbine, and a few institutional investors, including sovereign wealth funds of Singapore and Abu Dhabi as also a few domestic mutual funds.

Punjab National Bank: The public sector lender has raised Rs 658 crore by issuing Basel III compliant additional Tier-1 bonds at a coupon rate of 8.3 percent per annum, on private placement basis.

Spandana Sphoorty Financial: The microfinance lender has decided to issue non-convertible debentures up to Rs 25 crore on a private placement basis, with a green shoe option up to Rs 25 crore.

REC: The state-run financial firm accorded the status of a ‘Maharatna’ Central Public Sector Enterprise. This will give REC greater operational and financial autonomy.

IDBI Bank: The bank sold its entire stake in Ageas Federal Life Insurance Company to partner Ageas Insurance International NV. In May 2022, the bank had entered into a Share Purchase Agreement to sell its entire stake of 20 crore equity shares in Ageas Federal Life Insurance Company to Ageas Insurance International NV. With this sale, IDBI Bank’s shareholding in Ageas Federal Life Insurance Company now stands at NIL.

Ashoka Buildcon: The company has won a contract for construction of new BG line, from South Western Railway as it has received letter of acceptance (LOA) from South Western Railway for the project. It includes electrical and telecommunication works on engineering, procurement and construction (EPC) mode. The accepted bid project cost for the project is Rs 258.12 crore.

Heritage Foods: The company said the board of directors will meet on September 30, to consider raising of funds by way of issue of equity shares on a rights issue basis.

Dodla Dairy: Bharat Bio Tech International acquired 20,26,434 equity shares or 3.4 per cent stake via open market transactions, at an average price of Rs 525 per share. However, investor TPG Dodla Dairy Holdings Pte Ltd sold 18,31,434 equity shares at same price. TPG held 58.31 lakh shares or 9.8 percent stake in the company as of June 2022.

Veritas (India): Investor Swan Energy bought an additional 3.36 per cent stake or 9.01 lakh shares in the company via open market transactions on September 20. It already held just 1,441 shares in the company earlier.

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