Five large-cap names that investors should keep an eye on today!

resr 5paisa Research Team

Last Updated: 13th December 2022 - 01:23 pm

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Check out the large-cap companies making headlines in the morning trade session.

Among the large-cap companies, HDFC Bank, IDBI Bank, HDFC Ltd, Tech Mahindra, and Jubilant FoodWorks are among the stocks that are in the news on Monday. Let us see why! 

HDFC Bank:  Reserve Bank of India (RBI) has lifted the restrictions imposed on the private lender regarding its business-generating activities planned under the Digital 2.0 programme. In August 2021, RBI had partially lifted the ban on HDFC Bank by allowing it to issue new credit cards but had continued the embargo on its digital activities planned under its Digital 2.0 programme. The stock has reacted positively to the curb lift, gaining 2.6% in the morning trade at Rs 1,433.75.

IDBI Bank: The company in its exchange filing on March 11 has announced that it became one of the stakeholders of National Asset Reconstruction Company Limited (NARCL) on March 10, 2022, by executing an investment agreement of total cash consideration of up to Rs 137.50 crore and Rs 135 crore in tranches to acquire up to 5.00% of equity capital and NCDs, respectively, of NARCL (proposed to be issued). Earlier on March 08, 2022, the bank had also executed an investment agreement for participation in the Equity Share Capital of India Debt Resolution Company Limited (IDRCL) for a total cash consideration of up to Rs 4.50 crore to be released in tranches to acquire 9.00% of Equity capital of IDRCL. NARCL will primarily undertake acquired belongs activities of Asset Reconstruction Company while IDRCL will act as a debt resolution company. At 10.10 am on Monday, IDBI Ltd was trading at Rs 43.70, up 1.86% or 0.8 per share.

HDFC Ltd:  The company has announced on March 12 that HDFC Capital Advisors Limited (HCAL), a wholly-owned subsidiary of the Corporation has concluded the sale of 1,805 equity shares of Xpedize, representing 12.47% of its paid-up capital to SIC, a US-based entity, for a total consideration of $9,80,806 or Rs 7.5 crore. At 9.55 am on Monday, HDFC Ltd was trading at Rs 2,224.70, down by 0.03% or 7.35 per share.

Tech Mahindra: The company approved the proposal to acquire 100% equity shares in Thirdware Solutions Ltd for a total consideration of up to USD 42 million including earnouts. Thirdware is a global player in enterprise applications focussed on the areas of ERP, BIA, Cloud, and business technologies. It offers consulting, design, implementation, and support of enterprise applications services with a focus on the automotive industry. Thirdware’s capability to provide end-to-end implementations and global rollouts of ERP solutions will give Tech Mahindra an edge in the manufacturing space. On Monday, Tech Mahindra was trading at Rs 1,502, up by 1.01% or 15.05 per share.

Jubilant FoodWorks: The company’s board has approved the resignation of Pratik Rashmikant Pota as CEO and Whole-time Director of the Company as he wishes to pursue opportunities outside Jubilant FoodWorks. However, he will continue in his current role till June 15, 2022. At the time of writing, the shares of Jubilant FoodWorks were trading at Rs 2,502, down by 12.64%.

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