Stocks in Focus Today :Today i.e. on 20 September 2024, some stocks (Stocks in News) are ready to show action. Due to positive triggers, these stocks can remain in focus in the market today (Stocks to Watch). If you are looking for better stocks in intraday, then you can keep an eye on these (Stocks in Focus). Today’s list includes stocks like NTPC, Reliance Infra, Tata Power, IIFL Finance, Phoenix Mills, Axis Bank, Prestige Estates Projects, Indian Overseas Bank, AU Small Finance Bank, Datamatics Global Services, Rane Holdings, Infosys, Geojit Financial Services, SM Auto Stamping, IDFC First Bank.
NTPC
The board of directors of public sector power company NTPC has approved an investment of Rs 9,790.87 crore for the third phase of Sipat ultramodern power project in Chhattisgarh. NTPC said in a notice to the stock exchange that this decision was taken in the meeting of the board of directors of the company. The board of directors of the company in its meeting held on 19 September 2024 has approved an investment of Rs 9,790.87 crore for the third phase (one unit of 800 MW) of Sipat ultramodern power project. The investment amount is based on the current estimated cost.
Reliance Infrastructure
The board of directors of Reliance Infrastructure has approved raising Rs 3014 crore through a preferential issue of 12.56 crore equity shares. Reliance Infra said in a notice to the stock exchange that the preferential issue will result in an increase in the equity stake of the promoters. The company said that the board of directors has approved raising up to Rs 3000 crore through qualified institutional placement. For this, approval will be taken from the shareholders.
Tata Power
Both Tata Power and Singapore-based Indonesian mining company Adaro International have sought compensation from each other over a dispute related to a coal supply agreement. Adaro has claimed $106 million and has sought arbitration, while Tata Power has claimed $229.947 million for non-supply of coal.
IIFL Finance
The Reserve Bank of India (RBI) has lifted the restrictions imposed on IIFL Finance’s gold loan business, allowing the company to resume approval, disbursement, assignment, securitizing and sale of gold loans.
Phoenix Mills
The company’s subsidiary Casper Realty has been declared the highest bidder for two prime city-centric plots (13.14 acres) in Mohali, Punjab, with a total bid value of approximately Rs 891 crore.
Axis Bank
Market regulator SEBI has barred Axis Capital from taking up new assignments as a merchant banker until further notice. This action has been taken against Axis Capital in connection with the matter of providing guarantee for redemption of non-convertible debentures (NCDs) of Sojo Infotel. SEBI said in its interim order that Axis Capital provided guarantee for redemption of NCDs under the guise of underwriting (evaluation of financial information) which was not permitted under the existing regulatory framework. Such activities pose a risk to the financial system.