Top 10 stocks for today – 12th September 2023

12 Sep 2023 , 07:58 AM

Here are some of the stocks that may see significant price movement today.

Larsen & Toubro: The infrastructure company has raised its buyback price from Rs 3,000 to Rs 3,200 per share. The company’s proposed maximum number of equity shares to be repurchased has also been cut from 3,33,33,333 shares to 3,12,50,000 shares (2.22%).

SpiceJet: The airline stated that it would compensate former promoter Kalanithi Maran Rs 100 crore by September 12. It would also make a $1.5 million settlement in the Credit Suisse lawsuit in compliance with a court order.

Reliance Industries: Global investment company KKR will invest Rs 2,069.50 crore in Reliance Retail Ventures, a subsidiary of Reliance Industries, through an affiliate. This investment places Reliance Retail Ventures at a pre-money equity value of Rs 8.361 lakh crore, placing it among the top four corporations in the country by equity value.

Lupin: The pharmaceutical company intends to enter into a business transfer agreement with its subsidiary Lupin Manufacturing Solutions to establish two active pharmaceutical ingredients (API) manufacturing plants in Dabhasa and Visakhapatnam. It also intends to separate certain R&D operations, including fermentation, at the Lupin Research Park in Pune. Lupin anticipates receiving Rs 750-850 crore, depending on changes in working capital and other variables.

ICICI Bank: The RBI has accepted Sandeep Bakhshi’s reappointment as Managing Director and CEO of the Bank with effect from October 4, 2023, to October 3, 2026, according to the company. Shareholders approved Bakhshi’s nomination for the above-mentioned time during the Annual General Meeting on August 30, 2023.

Power Grid Corporation: The company was declared the successful bidder in a tariff-based competitive bidding process for the establishment of an Inter-State Transmission System Project, namely ‘Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part C1’ on a Build, Own, Operate, and Transfer (BOOT) basis.

Tata Steel: Tata Steel shareholders have approved the reappointment of TV Narendran as the company’s Chief Executive Officer and Managing Director.

TVS Motors: The company’s Board of Directors has accepted the reappointment of K N Radhakrishnan as Director and CEO for another five years, commencing October 23.

Torrent Power: Torrent Power has stated that there are no plans to make a pledge over the promoters’ shares in the company.

Gallant Ispat: The business announced that its board of directors has approved the construction of a new Direct Reduced lron (oRl) Kiln with a capacity of 1,65,000 MTPA at its manufacturing facilities in Gorakhpur, Uttar Pradesh. The project will cost Rs 125 crore, with funds raised domestically.

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