GMR Infrastructure, JSW Steel, ICICI Bank, Cipla, and Other Stocks to Keep an Eye on Today



The Singapore Exchange's Nifty futures traded 12.5 points, or 0.08 percent, lower at 15,821.50, indicating that Dalal Street will likely have a slow start to the day on Tuesday. Benchmark indices gained 8% in the most recent session, extending their ascent for a third straight session thanks to favorable global cues and purchasing in the majority of sectors. The Nifty50 increased 133 points to 15,832 while the BSE Sensex increased 433 points to 53,161.


Sterling Tools


Sterling Gtake E-mobility (SGEM), a subsidiary, entered the E-LCV market. With this advancement, SGEM can further expand its footprint inside several E-mobility sectors. The company has now received confirmed orders from more than 10 clients after beginning with supply for a single Electric 2W customer a year ago.


Bilcare

The business announced that Shreyans Bhandari has been named Chairman & Managing Director of the business as well as an additional director. He is the son of Mohan Bhandari, the current Chief Executive Officer and former Chairman and MD.


ICICI Bank


S&P Global Ratings predicted that the private lender will maintain its dominant market position and market capitalization over the following 12 to 18 months and reaffirmed its long-term issuer credit rating of "BBB-" with a stable outlook.


Cipla


To increase its equity to 22.02 percent, the pharmaceutical company has agreed to pay approximately Rs 26 crore for further interest in the digital technology startup GoApptiv Private. It is anticipated that the investment will be made in equity shares and compulsorily convertible preference shares over the next 30 days.


JSW Steel


The corporate family rating (CFR) of the steel manufacturer has been raised by Moody's Investors Service to Ba1 from Ba2. The rating outlook for JSW Steel Ltd. and Periama Holdings LLC has been changed from "positive" to "stable" by Moody's.


Bank of Baroda


The public sector lender said that it would issue long-term infrastructure bonds to raise Rs 5,000 crore. The proposal to issue long-term bonds to finance infrastructure projects and affordable housing worth Rs 5,000 crore was accepted by the board of directors at its meeting on Monday.


Star Health and Allied Insurance


To distribute its health insurance products to the bank's clients, the health insurance firm and IDFC FIRST Bank have inked a Corporate Agency Agreement.


GMR Infrastructure


The Delhi International Airport, a division of GMR Infrastructure, intends to spend Rs 1,000 crore on the Phase 3A expansion development. One billion rupees worth of five-year non-convertible debentures (NCDs) were issued by Delhi International Airport (DIAL), a step-down company of GMR Infrastructure and a subsidiary of GMR Airports. These NCDs were listed on the BSE on June 23. The NCDs are priced at an interest rate of 9.52 percent per year, payable monthly for the first 36 months, and 9.98 percent per year, payable monthly after that. The Phase 3A enlargement program will be partially financed with the profits from the notes.


Brigade Enterprises


A collaborative development agreement for the construction of 2.1 million square feet of residential flats in Chennai has been inked by the Brigade Group. Brigade targets revenue of Rs 6,000 crore from its residential business over the next 5 years in the city.


Capri Global Capital


Through open market transactions, APV Tradesol Pvt Ltd and PACs sold 2.055 percent of the company. With this, their ownership of the company has dropped from 8.156 percent to 6.102 percent.


Brigade Enterprises


A collaborative development agreement for the construction of 2.1 million square feet of residential flats in Chennai has been inked by the Brigade Group. Over the next five years, Brigade expects its residential business in the city to generate Rs 6,000 crore in income.


Indian Card Clothing


For the fiscal year 2022–2023, the board of directors declared a special interim dividend of Rs. 25 per share, or Rs. 10 per share at par. The board has also approved buying the remaining 40% ownership investment in the company's foreign subsidiary, Garnett Wire, UK, from the joint venture partner, Joseph Sellers & Son Limited.


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