Stocks such as SBI, Ather Energy, Adani Power, HDFC Bank, NTPC Green Energy and Exide Industries will remain in focus after announcing key appointments, fundraising plans, project wins, strategic investments and acquisitions. Corporate updates across banking, power, renewable energy, financial services and manufacturing sectors are expected to drive stock-specific action in today's trading session.
Several companies are likely to remain in focus after announcing key corporate developments, including leadership appointments, fundraising initiatives, project wins, investments and acquisitions. Stocks such as State Bank of India, Ather Energy, Adani Power, India Pesticides, HDFC Bank, NTPC Green Energy, Exide Industries and TVS Holdings are expected to attract investor attention.
SBI appoints new CFO designate
State Bank of India announced that Sunil Ramgopal Agrawal has joined the bank as Chief Financial Officer (Designate) with effect from July 15. He will assume the role of Chief Financial Officer and become a key managerial personnel from August 1. The appointment comes as SBI strengthens its senior management team amid continued focus on business growth and operational efficiency.
Ather Energy raises fresh capital
Ather Energy announced multiple capital-raising initiatives. The company's board approved the allotment of 76.19 lakh convertible warrants to Hero MotoCorp on a preferential basis at an issue price of Rs 1,260 per warrant, aggregating Rs 960 crore.
The electric two-wheeler maker also launched its Qualified Institutions Placement (QIP), fixing the floor price at Rs 1,169.70 per share with the option to offer a discount of up to 5 per cent. Additionally, the company approved preferential issues to India-Japan Fund and its promoters at prices above the regulatory floor price, reflecting continued investor confidence.
Adani Power secures long-term supply agreement
Adani Power signed a 25-year Power Supply Agreement with Maharashtra State Electricity Distribution Company for the supply of 1,600 MW of electricity from a new 2x800 MW ultra-supercritical thermal power plant.
The project will be developed under the Design, Build, Finance, Own and Operate model and has also received coal linkage under the Government of India's SHAKTI policy, providing fuel security for the project.
India Pesticides expands export opportunity
India Pesticides received Technical Equivalence approval in the European Union for one of its fungicide products. The approval is expected to improve the company's access to European markets and strengthen its export business, supporting its long-term international growth strategy.
HDFC Bank receives RBI approval
HDFC Bank received the Reserve Bank of India's approval for the appointment of Rajiv Kumar as Part-Time Chairman for a three-year term effective July 15. Meanwhile, Keki Mistry will continue as the bank's Non-Executive, Non-Independent Director, ensuring continuity in governance.
NTPC Green Energy strengthens renewable portfolio
NTPC Green Energy's subsidiary, Ayana Renewable Power, emerged as the successful bidder for a 50 MW wind power project in SECI's 2,000 MW auction. The project was secured at a tariff of Rs 3.85 per kWh and will further strengthen the company's renewable energy portfolio.
Exide Industries and TVS Holdings announce strategic investments
Exide Industries invested an additional Rs 100 crore in subsidiary Exide Energy Solutions through a rights issue, taking its cumulative investment to Rs 4,902.23 crore. The investment supports the development of the company's greenfield lithium-ion cell manufacturing facility in India.
Meanwhile, TVS Holdings said its subsidiary Home Credit India has entered into a Share Purchase Agreement to acquire Varthana Finance for Rs 967 crore. The acquisition is expected to strengthen the company's presence in the lending and financial services business while expanding its customer base.
