The Indian equity market is likely to open higher on Thursday, tracking firm cues from global peers and Nifty futures on Singapore Stock Exchange (SGX).
Here is a list of top stocks that are likely to be in focus in today's trading session:Ashok Leyland
Shares of Ashok Leyland will remain in focus after Hinduja group flagship firm acquired 27.25 per cent additional stake in Ashley Aviation Ltd (AAL), increasing its shareholding in the firm to 76.25 per cent. "The company has acquired 10,89,985 shares of Rs 10 each constituting 27.25 per cent in the paid-up share capital of Ashley Aviation Limited (AAL) at a price of Rs 5.10 per share," Ashok Leyland said in a filing to the Bombay Stock Exchange. The Chennai-based commercial vehicle manufacturer paid Rs 55.59 lakh to acquire the additional stake in the company. It proposes to acquire the balance equity shares held by individuals in AAL before March 31, 2019.
Bank of Baroda, Dena Bank, and Vijaya Bank
The cabinet on Wednesday approved the merger of public sector lenders, Vijaya Bank & Dena Bank with Bank of Baroda, to create the third-largest bank after State Bank of India and HDFC Bank. The government expects the new entity will be operational from the beginning of the next financial year.
Maharashtra Electricity Regulatory Commission (MERC) allows BEST to extend its existing PPA with Tata Power for 676.69 MW for a period of five years from 1 April 2019 to 31 March 2024.
SBI Life Insurance
SBI Life Insurance has signed a pact with Syndicate Bank wherein the public sector lender will be selling its policies, according to media reports.
HDFC is planning to raise up to Rs 45,000 crore through issuance of secured redeemable non-convertible debentures (NCDs) on a private placement basis. "The board of directors of the company will consider the issuance in a meeting on January 29, 2019," HDFC Bank said in a filing to the exchange.
Bank of Baroda
The board of Bank of Baroda has approved issuance of Tier-II Capital Bonds compliant with Basel III Capital Regulations of Rs 285 crore, with a base issue size upto Rs 100 crore and a Green shoe option to retain oversubscription upto Rs 185 crore. The board also okayed issuance of Tier-II Capital Bonds compliant with Basel III Capital Regulations of Rs 1,000 crore, with a base issue size upto Rs 250 crore and a Green shoe option to retain oversubscription upto Rs 750 crore in single or multiple tranches.
State-controlled Syndicate Bank said on Wednesday that the bank plans to raise Rs 1,632 crore through issuance of equity shares to the government of India on preferential basis. The bank would also raise up to Rs 500 crore by issuing shares to its employees under the employee stock purchase scheme. "A meeting of the Board of Directors of the Company is scheduled on January 07, to consider and approve a proposal to raise capital aggregating to Rs 1,632 crore through issuance of equity shares to the government of India on preferential basis," Syndicate Bank said in a filing to the Bombay Stock Exchange.
Edited by Chitranjan Kumar