Top stocks in focus: Vedant Fashions, Punjab -; Sind Bank, Wheels India, Burger King India, Torrent Power

16 Feb 2022 , 07:28 AM

Vedant Fashions: The company will make its debut on the BSE and NSE, on February 16. The final issue price has been fixed at Rs866 per share. It would be third listing in year 2022 after AGS Transact Technologies and Adani Wilmar.

Punjab & Sind Bank: NPA account, IL & FS Tamil Nadu Power Company with outstanding dues of Rs148.86 crore has been declared as fraud. The bank reported this fraud to RBI and has already made provisions amounting to Rs59.54 crore.

Wheels India: ICRA has downgraded its long term rating for bank lines to ‘A-‘, from ‘A’ earlier while keeping outlook stable. The rating agency also downgraded its short term rating for bank lines to ‘A2+’, from ‘A1’ earlier.

Burger King India: The company closed its qualified institutional placement issue and finalised the issue price at Rs129.25 per share, a discount of 5% to the floor price of Rs136.05 per share.

Torrent Power: The company completed transaction of acquisition of 100 percent stake in special purpose vehicle Visual Percept Solar Projects. The acquisition was as per the Share Purchase Agreement between Torrent Power, and Blue Daimond Properties and Balrampur Chini Mills.

Redington India: Investor Marina IV (Singapore) Pte Ltd sold 2.14 percent equity stake in the company via open market transactions on February 11. As a result, its shareholding in the company dropped to 3.22%, from 5.36% earlier.