Stocks to watch: Bank of Maharashtra, HeidelbergCement, Reliance, NTPC

Here is the list of the top 10 stocks that will be in the spotlight today

Bank of Maharashtra: The state-run Bank of Maharashtra on Monday reported a more than double jump in net profit to 452 crores in the April-June quarter, helped by healthy net interest income and improving asset quality. The lender had reported a net profit of 208 crore on a stand-alone basis in the same quarter of FY2022. Net interest income (NII) increased by 20% to 1,686 crore compared to 1,406 crores in the first quarter of FY22.

HeidelbergCement India: HeidelbergCement India on Monday announced a 24.82% drop in net profit to 51.61 crore for the June quarter 2022-23, impacted by an increase in operating costs. The company reported a net profit of 68.65 crores in April-June a year ago, HeidelbergCement said in an ESB filing. However, operating income increased by 6.10% for 589.89 crore in the quarter under review of 555.94 crore in the period a year ago.

Trust Industries: Arm Reliance Jio Infocomm has implemented 14,000 crore as an earnest money (EMD), more than half of the amount submitted by bidders for the 5G spectrum auction, according to official data released on Monday. The second highest amount of money as an EMD was invested by Bharti Airtel Limited at 5,500 crores. Adani Data Networks EMD amount is 100 crore, according to data released by the Department of Telecommunications.

NTPC: The public electricity giant NTPC and Indian Oil have signed a pact to form a joint venture to meet the electricity needs of the oil major’s upcoming projects. NTPC and Indian Oil have signed a joint venture agreement to meet the power requirements of Indian Oil’s upcoming refinery projects, a statement from the company said. Unified with the aim of increasing the use and capacity of renewable energy sources in the country, the state-owned companies have partnered to set up renewable energy-based power plants for Indian Oil refineries , did he declare.

Adani Enterprises: State-owned CIL has canceled its first tender for short-term coal imports in which Adani Enterprises had emerged as the lowest bidder, sources said on Monday. For a medium-term tender for the supply of an additional 6 million tons (MT) of coal abroad, PT Bara Daya Energy had quoted 2,000 per ton less than the price offered by the firm of the Adani group. Coal India, at its board meeting held on July 8, decided to cancel the short-term tender of 2.416 million tonnes and PT Bara Daya Energy was asked to provide the shrinking quantity compared to the mid-term tender, the sources said.

industrial bank: Private lender IndusInd Bank said on Monday its board had approved a proposal to raise 20,000 crores of debt to finance the growth of the company. The Board has approved the raising of funds through debt securities in any authorized mode on the basis of a private placement that may be decided, for a total amount not exceeding 20,000 crores.

Indian oil: The company has signed a joint agreement with the state-owned company NTPC to meet electricity needs. Going forward, NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC, will form the JV company for the supply of electricity to Indian Oil. Indian Oil said it plans to meet the additional power needs of its refineries using 24-hour renewable energy up to 650 MW by December 2024 through this JV.

Mahindra and Mahindra: Mahindra & Mahindra announced on Monday that it has increased its stake in its Finnish branch Sampo Rosenlew Oy to 100% with the acquisition of residual shares for more than 35 crores. In a regulatory filing, Mahindra & Mahindra (M&M) said it signed an option-based share purchase agreement on Monday to acquire 1,317 shares of Sampo Rosenlew Oy, following the exercise of a stock option. purchase by him on the other shareholder of Sampo.

Yes Bank: Yes The Bank will invest up to 350 crore for a potential 20% stake in asset reconstruction company JC Flowers, which became the base bidder for the lender’s bad debt value 48,000 crore. The private sector lender plans to raise up to $1 billion in FY23 to bolster its capital base once the NPA challenge ends, its managing director and managing director Prashant Kumar told reporters on Monday. .

HCL Technologies: HCL Technologies has signed a multi-year agreement with the Netherlands-based pharmaceutical and personal care company DSM, the Indian IT company announced on Monday. Under the agreement, HCL will help accelerate the digital transformation of the Dutch pharmaceutical and personal care industry with a cloud-first strategy, agile delivery and next-generation security and networking practice, said HCL Technologies without disclosing the value of the agreement.

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