Top 10 stocks for today – 22nd September 2023

22 Sep 2023 , 07:58 AM

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

Wipro: Jatin Pravinchandra Dalal, the company’s Chief Financial Officer, has left with effect from November 30 to explore other career options. Aparna C. Iyer has been named Chief Financial Officer of the IT services firm, starting immediately. Aparna will join the Wipro Executive Board and report to CEO Thierry Delaporte.

SJVN: On September 22, the Government of India will exercise its greenshoe option for a 2.46% ownership in the hydroelectric power-producing company, or 9,66,72,961 shares. This is due to the issue’s oversubscription, which is in addition to the base issue size of 9,66,72,961 shares, or 2.46% stake.

Vedanta: The mining business has received board clearance to raise up to Rs 2,500 crore through non-convertible debentures (NCDs) in one or more tranches through a private placement.

ICICI Bank: The second-largest private sector lender in the country has agreed to invest almost Rs 5 crore in Quantum CorpHealth, a healthcare services platform. The transaction will be carried out through the issuance of equity shares and compulsorily convertible preference shares (CCPS). Following the investment, the bank will own 9.99% of Quantum CorpHealth through the purchase of 100 equity shares and 3,33,200 CCPS.

Glenmark Pharma: The pharmaceutical business has agreed to sell a 75% ownership in its subsidiary, Glenmark Life Sciences (GLS), to Nirma. The company would sell the shareholding for Rs 5,651.5 crore or Rs 615 per share. Glenmark Pharma will own 7.84% of GLS following the stake sale, and Nirma will subsequently launch a mandated open offer to all GLS public shareholders.

InterGlobe Aviation: IndiGo and British Airways have signed a codeshare agreement to strengthen links between India and the United Kingdom. British Airways will be able to add three new flights to their existing network thanks to this codeshare agreement with IndiGo.

Tech Mahindra: The merger of Tech Mahindra Credit Solutions Inc. and its parent firm Tech Mahindra (Americas) Inc. has been approved by the IT solutions company. Tech Mahindra (Americas) Inc. is Tech Mahindra’s completely owned material subsidiary. The combination of the two organizations will minimize operational costs and compliance risks.

JSW Steel: Caretta Minerals LLC, a subsidiary of Periama Holding LLC, has agreed to sell its property, plant and equipment, and mineral rights to West Virginia Properties for $24 million because operating the mines is not economically viable without a coal mining lease and a plant lease. JSW Steel’s step-down subsidiary is Periama Holding LLC.

NBCC (India): SAIL has given the state-owned construction company an order for different development activities at the township and mines of the Bhilai steel mill. The order is worth Rs 100 crore.

ICICI Lombard General Insurance Company: Bhargav Dasgupta, MD & CEO of the general insurance company, has quit to pursue chances outside the country.

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