Stock Market Today: All You Need To Know Going Into Trade On Sept. 22

Infosys: Nigeria's Guaranty Trust Bank has selected the IT major's Finacle Digital Banking Suite for its multi-country digital transformation programme.

ICICI Bank: The private lender will buy a 9.99% stake in Quantum CorpHealth Private for Rs 4.99 crore by the end of October 2023, via cash consideration.

Wipro: Jatin Pravinchandra Dalal to resign as CFO with effect from Nov. 30. The board has approved the appointment of Aparna Iyer as CFO with effect from Sept. 22.

LIC: The state-run insurance giant has decreased its shareholding in OIL India from 11.73% to 9.69%. It has increased its shareholding in Gujarat Gas from 4.98% to 5.01%.

JSW Steel: The company's U.S. unit, Periama Holding LLC, will sell Caretta Minerals for $24 million. The property, plant, and equipment will be sold to West Virginia Properties.

Vedanta: The board has approved raising up to Rs 2,500 crore via NCDs in one or more tranches, on a private placement basis. It will issue up to 2.5 lakh NCDs with a face value of Rs 1 lakh each.

UltraTech Cement, India Cements: UltraTech Cement will buy 73.75 acres of land in Andhra Pradesh from India Cement for Rs 70 crore.

Yes Bank: Pankaj Sharma is appointed as Chief Strategy and Transformation Officer. He will lead the implementation of major organisational changes, including direct oversight of digital transformation initiatives.

Glenmark Pharma: The drugmaker will sell a 75% stake in Glenmark Life Sciences for Rs 5,652 crore to Nirma at Rs 615 per share. After the stake sale, the company will own 7.84% of Glenmark Life Sciences.

SJVN: The government will exercise its greenshoe option of 2.46% stake or 9.66 crore shares for the offer-for-sale on Sept. 22, given the oversubscription in the issue. This is in addition to the base issue size of 9.66 crore shares, or 2.46% stake. Accordingly, the total offer size will be up to 19.33 crore equity shares, representing 4.92% of the total paid-up equity.

ICICI Lombard General Insurance: MD and CEO Bhargav Dasgupta has resigned and will officiate his responsibilities till his last working date. The company is in the process of filling the resultant vacancy.

ICICI Securities: SEBI has issued an administrative warning with relation to merchant banking operations and initiated quasi-judicial proceedings against the company.

Can Fin Homes: The company plans to consider raising up to Rs 4,000 crore via NCDs on a private placement basis on Sept. 27.

IRB Infrastructure Developers: SPV Samakhiyali Tollway has achieved financial closure for the Rs 2,092-crore Samakhiyali Santalpur BOT Highway project. The consortium of lenders has extended debt support of Rs 1,446 crore for the project.

CanFin Homes: Board of Directors are scheduled to meet on Wednesday, Sept. 27, 2023 to discuss the issuance of non-convertible redeemable debentures worth Rs 4000 crore, on private placement basis.

Pheonix Mills: The board has approved the acquisition of balance 5,000 equity shares, or 50% stake in Bartraya Mall Development Co. for an aggregate consideration of Rs 50,000 from Fabsin Trading and Agency, an existing shareholder of Bartraya.

Tech Mahindra: Company approved merging Tech Mahindra Credit Solutions Inc with its parent Tech Mahindra (Americas) Inc., a wholly owned material subsidiary of the company.

Rail Vikas Nigam: The company has formed a joint venture with Tracks & Towers Infratech for construction of six-lane, greenfield Varanasi-Ranchi-Kolkata Highway for Rs 1,271 crore.

ideaForge: Company has received order worth about Rs 58 crore to supply 400 Surveillance Copter with accessories to M/s. Strategic Marketing.

HDFC Bank: The lender sells an aggregate stake of 2.22% of the share capital in Hindustan Oil Exploration Corp Ltd. for an all cash consideration of Rs 49.85 crore.

Sunteck Realty: IFC and Sunteck Realty create joint platform, investing up to Rs 750 crore or $90 million to Expand Green Urban Housing in Maharashtra. IFC's proposed investment is for up to Rs 330 crore or $40 million, with the remainder to be brought in by Sunteck Realty.

InterGlobe Aviation: Indigo and British Airways announce new codeshare partnership.

Signatureglobal India: The IPO has been subscribed to 1.61 times on its second day. The bids were led by non-institutional investors, who subscribed 3.06 times; retail investors, who subscribed 2.53 times; and institutional investors, who subscribed 0.62 times, or 62%.

Sai Silks (Kalamandir): The IPO has been subscribed to 0.33 times, or 33%, on its second day. The bids were led by institutional investors, who subscribed 0.51 times, or 51%; non-institutional investors, who subscribed 27%; and retail investors, who subscribed 26%.

Manoj Vaibhav Gems: The company will launch its initial public offering on Friday. The South Indian regional jewellery brand plans to raise up to Rs 270.20 crore via a fresh issue (Rs 210 crore) and offer for sale (Rs 60.20 crore). The price band is fixed in the range of Rs 204–215 per share. It has raised Rs 81 crore from anchor investors.

Zaggle Prepaid Ocean Services: The shares will be listed on the stock exchanges on Friday. The issue price is Rs 164 apiece. The Rs 392-crore IPO was subscribed 12.57 times on its final day of offer. Bids were led by institutional investors (16.73 times), non-institutional investors (8.85 times) and retail investors (5.94 times).

Samhi Hotels: The shares will be listed on the stock exchanges on Friday. The issue price is Rs 126 apiece. The Rs 1,370-crore IPO was subscribed 5.33 times on its final day of offer. Bids were led by institutional investors (8.82 times), non-institutional investors (1.22 times) and retail investors (1.11 times).