Stocks To Watch Today, July 16: SBI, Ather Energy, Adani Power, HDFC Bank And Others In Focus

SBI, Ather Energy, Adani Power, HDFC Bank and other stocks are likely to remain in focus on July 16 following key corporate announcements, fundraising updates, project wins, acquisitions and bulk deals.
SBI

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State Bank of India has appointed Sunil Ramgopal Agrawal as Chief Financial Officer (Designate) with effect from July 15. He will take charge as the bank’s CFO and become a key managerial personnel from August 1.

Ather Energy

Ather Energy has approved the allotment of 76.19 lakh convertible warrants to Hero MotoCorp on a preferential basis at ₹1,260 per warrant. The transaction is valued at ₹960 crore.

The electric two-wheeler maker has also opened its qualified institutions placement (QIP) issue, with the floor price fixed at ₹1,169.70 per share. The company may offer a discount of up to 5% on the floor price. The floor price for its proposed equity share issue to the India-Japan Fund is ₹1,175.74 per share, against an approved issue price of ₹1,230.

Ather Energy’s share price will remain in focus after the company also approved preferential warrants for Hero MotoCorp and its promoters at an issue price of ₹1,260 per warrant.

Adani Power

Adani Power has signed a 25-year Power Supply Agreement with Maharashtra State Electricity Distribution Company for supplying 1,600 MW of electricity. The power will come from a planned 2x800 MW ultra-supercritical thermal power plant under the DBFOO model. Coal linkage for the project has been allocated under the government’s SHAKTI Policy.

India Pesticides

India Pesticides has received Technical Equivalence approval in the European Union for one of its fungicide products. The approval expands the company’s regulatory access to the European market.

HDFC Bank

The Reserve Bank of India has approved Rajiv Kumar’s appointment as Part-Time Chairman of HDFC Bank for three years from July 15. Keki Mistry will continue as a Non-Executive, Non-Independent Director.

NTPC Green Energy

Ayana Renewable Power, a wholly owned subsidiary of ONGC NTPC Green, has won a 50 MW capacity in SECI’s auction for wind power projects. The capacity was secured at a tariff of ₹3.85 per kWh under a tender for 2,000 MW of ISTS-connected wind projects.

Exide Industries

Exide Industries has invested ₹100 crore in Exide Energy Solutions through a rights issue, taking its cumulative investment in the subsidiary to ₹4,902.23 crore. The company’s shareholding percentage remains unchanged.

TVS Holdings

Home Credit India, a subsidiary of TVS Holdings, has agreed to acquire 100% of Varthana Finance for ₹967 crore.

Bulk Deals

Abakkus Investment Managers bought a 0.95% stake in Mrs Bectors Food Specialities for ₹49.67 crore. FLC Investco sold a 0.9% stake in One Mobikwik Systems for ₹16.52 crore.

HDFC Mutual Fund acquired a 1.42% stake in Jupiter Life Line Hospitals for ₹139 crore, while Nippon India Mutual Fund bought a 1.3% stake in TCI Express for ₹28.1 crore from HDFC Mutual Fund. VBCube Ventures sold a 1.27% stake in Safety Controls & Devices for ₹1.88 crore.

Listings, Ex-Dividend And F&O Ban

Laser Power & Infra is scheduled for a mainboard listing, while Devson Catalyst and Happy Steels are set for SME listings.

Canara Robeco Asset Management Company, Ador Welding, B&A Packaging India, Benares Hotels, Coromandel International, Craftsman Automation, GRP, Weizmann and Windlas Biotech will trade ex-dividend.

Fredun Pharmaceuticals will trade ex-date for bonus shares, while PropShare Celestia, PropShare Platina and PropShare Titania SM REIT will trade ex-date for income distribution. Kaynes Technology India remains under the F&O ban.