Top 10 stocks for today – 18th September, 2024

18 Sep 2024 , 08:43 AM

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

REC: The corporation has inked a non-binding financial commitment to expand its renewables loan book to more than ₹3 lakh Crore by 2030. This would increase the contribution of renewables from 8% to 30% by 2030, with REC’s credit book expected to reach ₹10 lakh Crore by then.

Torrent Power: The company has received a Letter of Intent (LoI) from Maharashtra State Electricity Distribution Co. to purchase 1,500 MW of energy storage capacity from a pumped hydro storage project for 40 years.

Zodiac Ventures: The company stated that the Board of Directors will meet on September 24 to discuss fund raise via issue of equity shares.

Reliance Power: The company’s duties as a guarantor on behalf of Vidarbha Industries Power have been fully met, resulting in the release and discharge of the corporate guarantee, undertakings, and all other liabilities linked to the outstanding debt of ₹3,872.04 Crore. The company has resolved all disputes with CFM Asset Reconstruction.

Reliance Infrastructure: The company has agreed to a one-time settlement with Edelweiss Asset Reconstruction Company for all obligations connected to the non-convertible debentures issued by the company totalling ₹385 Crore. The settlement will be completed by September 30, 2024. Edelweiss does not own any equity shares in the company and is neither a linked party nor a member of the promoter group.

Satin Credicare Network: The Board will meet on September 20 to discuss obtaining funds through the issuing of non-convertible bonds in private placement.

Infosys: Metro Bank, United Kingdom, has signed a long-term agreement with Infosys to improve certain of its IT and support tasks, as well as digitally change the bank’s business operations.

SKF India: AB SKF, the company’s promoter shareholder, has announced that its Board of Directors has decided to commence the global separation of its automotive sector. The Board has appointed a committee to study and recommend the separation of activities, with the objective of listing the automotive business on Nasdaq Stockholm in the first half of 2026.

Biocon: On September 13, LIC expanded its investment in Biocon from 4.982% to 5.023% by purchasing an additional 5 lakh shares (0.041% of paid-up equity).

Utkarsh Small Finance Bank: The company said that the Reserve Bank of India has authorised the variable remuneration to be paid to the company’s Managing Director and CEO for FY24 and the fixed remuneration for FY25, in accordance with shareholder approval at the AGM.

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