Top 10 stocks for today – 5th September, 2024

5 Sep 2024 , 09:10 AM

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

Reliance Industries: The Ministry of Heavy Industries said that it has awarded Mukesh Ambani’s business a 10 GWh capacity for Advanced Chemistry Cell manufacture under the Production Linked Incentive Scheme. This decision was made following a global tender process that yielded seven offers from major corporations.

Suzlon Energy: The renewable energy solutions provider announced that it has signed a conveyance document with OE Business Park Ltd for the sale of “One Earth Property,” its corporate office. The deal costs ₹440 Crore, with ₹411.21 Crore for conveyance and ₹28.79 Crore for reimbursement of stamp duty and registration taxes.

Century Textiles & Industries: The business has granted a corporate guarantee worth ₹400 Crore to Hindalco Industries. This assurance is tied to the purchase of a land parcel in Kalwa, Thane, by Ekamaya Properties Private Limited. EPPL is a 100% subsidiary of Birla Estates Private Limited.

Linde India: The industrial and medical oxygen major announced that it has signed a plant sale agreement with Tata Steel Ltd to buy industrial gas supply assets, specifically two 1800 tpd air separation units (ASUs) from Tata Steel’s Kalinganagar Phase 2 extension project.

Sona BLW Precision Forgings: The auto component supplier has launched a qualified institutional placement (QIP) of equity shares, with a floor price of ₹699.01 per share. Furthermore, the corporation may provide a discount of up to 5% on this floor price.

HDFC Bank: The private bank is pressing on with plans to take its non-banking arm, HDB Financial Services, public, with a prospective listing scheduled for December or, at the very least, by the end of the current fiscal year. The IPO, which will most likely be a combination of secondary sales and new financing, is projected to be worth approximately $7-8 billion.

PNB Housing Finance: The company’s Board of Directors will hold a meeting on September 9, 2024, to consider and potentially authorise the issue of Non-Convertible Debentures (NCDs) up to ₹2,500 Crore. The NCDs will be issued through a private placement in numerous tranches over the next six months.

Allied Blenders: Allied Blenders and Distillers Ltd (ABDL), the maker of Officer’s Choice whisky, announced on Wednesday (September 4) that it has received board approval to acquire an 80% stake in a new company being formed in collaboration with film star Ranveer Singh, represented by Oh Five Oh Talent Limited Liability Partnership.

Exide Industries: Arun Mittal, Managing Director and CEO of the battery maker’s wholly-owned subsidiary Exide Energy Solutions Ltd (EESL), has resigned, effective October 31, 2024. Mittal, who is stepping down for personal reasons, will be relieved of all duties by the end of business on that date.

General Insurance Corporation of India: The Indian government has opted to utilise the oversubscription option in the September 5 offer for sale. On September 4, non-retail investors subscribed to the offer at 1.08 times the base size.

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