Top 10 stocks for today – 20th February 2024

20 Feb 2024 , 08:37 AM

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

Kotak Mahindra Bank: The private sector lender has re-designated Shanti Ekambaram as Deputy MD and KVS Manian as Joint MD of the bank, effective March 1, 2024. Shanti Ekambaram and KVS Manian are presently full-time directors of the bank. The lender has hired Devang Gheewalla as Chief Financial Officer and Milind Nagnur as Chief Operating Officer, effective April 1, 2024.

Oil and Natural Gas Corporation: Imperial Energy, an ONGC company, is established in Cyprus and has a step-down structure with subsidiaries in Cyprus and Russia. Imperial Energy’s shareholders have approved the merger of five companies, namely Imperial Energy Cyprus (IECL), Imperial Energy Nord (IENL), Redcliffe Holdings (RHL), Biancus Holding (BHL), and San Agio Investment (SAIL), with itself, subject to the approval of the competent court in Cyprus.

Whirlpool of India: According to reports, the promoter plans to sell up to a 24% stock share in Whirlpool through block agreements. The entire amount of the block agreements is expected to be $450 million, with the floor price set at ₹1,230 per share, a 7.6% reduction to Monday’s closing price.

Godrej Consumer Products: The FMCG firm, together with one of its wholly owned subsidiaries, has agreed to sell its whole investment in Godrej East Africa Holdings, Mauritius, for $3.5 million. Following the conclusion of the transaction, Godrej East Africa Holdings, as well as its step-down subsidiaries DGH Tanzania, Mauritius, Charm Industries Kenya, and Sigma Hair Industries Tanzania, will no longer be company subsidiaries.

Piramal Enterprises: The board of directors will meet on February 22 to examine the issuance of non-convertible debentures of up to ₹100 crore, as well as the green shoe option to retain oversubscriptions of up to ₹500 crore through a private placement.

Sula Vineyards: Foreign investor Morgan Stanley Asia Singapore Pte. Ltd. purchased 8,65,500 equity shares in the winery at an average price of ₹575 per share. Mousserena LP, a foreign company, sold 29 lakh equity shares (3.4% of the company’s equity) at an average price of ₹575.47 per share, while Verlinvest Asia Pte Ltd exited the company by selling its entire shareholding of 70,42,275 equity shares at an average price of ₹576.78.

LTIMindtree: Navisource has been created by the firm that provides technology consulting and digital solutions.AI is a GenAI-powered autonomous sourcing platform. Using an AI-driven pricing and negotiating engine, the platform hopes to lower overall procurement costs by 10-15%.

Balrampur Chini Mills: The sugar maker has announced forward integration and business diversification with its new PLA (polylactic acid) production venture. The new project, which is expected to cost ₹2,000 Crore and would be completed in parts over a 2.5-year period, aims to power India’s road to net zero emissions by 2070. The new project is planned to be finished within 30 months, establishing India’s first industrial bioplastic facility.

Torrent Power: Prime Minister Narendra Modi laid the groundwork for four projects totaling ₹25,000 Crore being constructed by Torrent Power in Uttar Pradesh. These projects will focus on pumped storage hydro, green hydrogen, and solar energy generation in Uttar Pradesh.

Minda Corporation: High-net-worth person Bela Agarwal departed the automobile ancillary firm by selling his whole investment of 1,08,50,700 equity shares (equal to 4.54% of total paid-up equity) in open market transactions at an average price of ₹403 per share. Motilal Oswal Mutual Fund purchased 43,70,000 equity shares, while Kotak Mahindra Mutual Fund purchased 36,93,700 shares for the same price.

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