Stocks To Watch
Tata Motors: The company will raise up to $1 billion (about Rs 7,500 crore) for a new passenger electric vehicle subsidiary (TML EV Co.) from TPG Rise Climate and its co-investor ADQ. The investors will pump in the funds through compulsory convertible instruments for an 11-15% stake in TML EV Co. That would give the company an equity valuation of up to $9.1 billion, Tata Motors said. TML EV Co. will invest over Rs 16,000 crore in the next five years for products, platforms, drive trains and dedicated EV manufacturing and charging infrastructure.
Reliance Industries: Reliance New Energy Solar leads series C financing round in German solar component maker NexWafe. RIL subsidiary will pump $29 million to accelerate product and technology development. Other investors in the $45 million round include InnoEnergy, Lynwood and Saudi Aramco Energy Ventures, among others. Reliance plans to build large-scale solar wafer manufacturing facilities in India using NexWafe's technology.
Centrum Capital: RBI grants small finance bank license to consortium of Centrum Group and Resilient Innovations. The new SFB, Unity Small Finance Bank, to take over assets and liabilities of Punjab & Maharashtra Cooperative Bank. Centrum's MSME and microfinance book to be merged with the SFB.
IndusInd Bank, Kotak Mahindra Bank: Both banks have received government approval to collect direct and indirect taxes. Customers of both banks will be able to use net banking and mobile applications to pay taxes. Banks can also collect taxes through their branch networks. In February 2021, government lifted its bar on private banks from taking up government business.
Zee Entertainment Enterprises: Representatives of Invesco proposed a deal to Zee’s CEO Punit Goenka in February, involving the merger of the company and certain entities owned by a large Indian group, the media firm said. Zee’s board met on Tuesday to consider a note addressed to them by Goenka. He said he had expressed his apprehension to Invesco that as the merging entities of the Indian group were over-valued, it would cause a loss to Zee shareholders. The proposed deal by Invesco representatives had valued public holding in Zee at Rs 21,130 crore. The company’s board also took note of an open letter issued by Invesco on October 11 and said it will respond to comments made in the letter.
Power Grid Corporation of India: Board has given investment approval for setting up of electric vehicle charging station in Navi Mumbai at an estimated cost of Rs 14.23 crore. It has also approved incorporation of wholly owned subsidiary to undertake telecommunications and digital technology business of Power Grid.
Happiest Minds Technologies: The company has entered into partnership with Tech4TH Solutions, a company incorporated in the U.S. Tech4TH provides digital services to worldwide companies in the Travel and Hospitality sectors.
Power Finance Corporation: The government has granted Maharatna Status to the company.
Steel Exchange India: To consider proposal for raising of funds on October 15.
Zen Technologies: To consider fund raising plan on October 16.
Bajaj Finserv: Trustee company under the name of Bajaj Finserv Mutual Fund Trustee Limited has been incorporated as a wholly owned subsidiary of the company.
Tata Motors: The company will raise up to $1 billion (about Rs 7,500 crore) for a new passenger electric vehicle subsidiary (TML EV Co.) from TPG Rise Climate and its co-investor ADQ. The investors will pump in the funds through compulsory convertible instruments for an 11-15% stake in TML EV Co. That would give the company an equity valuation of up to $9.1 billion, Tata Motors said. TML EV Co. will invest over Rs 16,000 crore in the next five years for products, platforms, drive trains and dedicated EV manufacturing and charging infrastructure.
Reliance Industries: Reliance New Energy Solar leads series C financing round in German solar component maker NexWafe. RIL subsidiary will pump $29 million to accelerate product and technology development. Other investors in the $45 million round include InnoEnergy, Lynwood and Saudi Aramco Energy Ventures, among others. Reliance plans to build large-scale solar wafer manufacturing facilities in India using NexWafe's technology.
Centrum Capital: RBI grants small finance bank license to consortium of Centrum Group and Resilient Innovations. The new SFB, Unity Small Finance Bank, to take over assets and liabilities of Punjab & Maharashtra Cooperative Bank. Centrum's MSME and microfinance book to be merged with the SFB.
IndusInd Bank, Kotak Mahindra Bank: Both banks have received government approval to collect direct and indirect taxes. Customers of both banks will be able to use net banking and mobile applications to pay taxes. Banks can also collect taxes through their branch networks. In February 2021, government lifted its bar on private banks from taking up government business.
Zee Entertainment Enterprises: Representatives of Invesco proposed a deal to Zee’s CEO Punit Goenka in February, involving the merger of the company and certain entities owned by a large Indian group, the media firm said. Zee’s board met on Tuesday to consider a note addressed to them by Goenka. He said he had expressed his apprehension to Invesco that as the merging entities of the Indian group were over-valued, it would cause a loss to Zee shareholders. The proposed deal by Invesco representatives had valued public holding in Zee at Rs 21,130 crore. The company’s board also took note of an open letter issued by Invesco on October 11 and said it will respond to comments made in the letter.
Power Grid Corporation of India: Board has given investment approval for setting up of electric vehicle charging station in Navi Mumbai at an estimated cost of Rs 14.23 crore. It has also approved incorporation of wholly owned subsidiary to undertake telecommunications and digital technology business of Power Grid.
Happiest Minds Technologies: The company has entered into partnership with Tech4TH Solutions, a company incorporated in the U.S. Tech4TH provides digital services to worldwide companies in the Travel and Hospitality sectors.
Power Finance Corporation: The government has granted Maharatna Status to the company.
Steel Exchange India: To consider proposal for raising of funds on October 15.
Zen Technologies: To consider fund raising plan on October 16.
Bajaj Finserv: Trustee company under the name of Bajaj Finserv Mutual Fund Trustee Limited has been incorporated as a wholly owned subsidiary of the company.
BOARDMEET Today
Dish TV India -To Consider Yes Bank’s Requisition Notice
INEOS Styrolution -Consider Special Dividend
Dish TV India -To Consider Yes Bank’s Requisition Notice
INEOS Styrolution -Consider Special Dividend
IOC : Report says Co. To Put EV Charging stations
After Tata Motors Yesterday Announcement on EV , Seems Like All Indian Co.'s Now Ready For EV Change
After Tata Motors Yesterday Announcement on EV , Seems Like All Indian Co.'s Now Ready For EV Change
Key Levels To Watch
#Nifty-
Support:17840-17750 & Resistance:18151-18200
#BankNifty- Support:38100-37650 & Resistance:39020-39250
#Nifty-
Support:17840-17750 & Resistance:18151-18200
#BankNifty- Support:38100-37650 & Resistance:39020-39250
Market Wizard
ADDED BCG AT 28.65
BCG 90.55❤️❤️❤️
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
1379.58% RETURNS FROM OUR ORIGINAL BUY RECOMMENDATION OF 6.12 RS (7.65 PRE BONUS RATE)
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
1379.58% RETURNS FROM OUR ORIGINAL BUY RECOMMENDATION OF 6.12 RS (7.65 PRE BONUS RATE)