Stocks to watch out for today: Bank of India, Max Financial Ion Exchange, Power Grid and more

The domestic equity market closed at record highs on Tuesday. Sensex rose 431 points to end the session at 69,296 and Nifty added 168 points to settle at 20,855.

Here’s a look at stocks that are likely to remain in news today.

Bank of India

The lender has launched qualified institutional placement (QIP), at a floor price of Rs 105.42 per equity share. The bank's Capital Issue Committee is set to meet on December 8 to consider and determine the issue price, including any discount.

State Bank of India

SBI will buy 20 percent stake held by SBI Capital in SBI Pension Funds for Rs 229.5 crore. With this transaction, SBI’s stake in SBI Pension Funds will reach 80 percent.

Max Financial Services

Deputy MD V Viswanand will step down from office and as a board of directors member in Max Life Insurance Company after the end of his tenure on December 31, 2023.

JB Chemicals and Pharmaceuticals

Chief Financial Officer of the firm Lakshay Kataria has resigned as due to personal reasons.

Axiscades Technologies

The company bought a 100 percent stake in Epcogen for Rs 26.25 crore. Epcogen is engaged in the engineering design and solutions for energy space.

Ion Exchange

Ethigen Inc. filed an arbitration claim of $18,00,000 (Rs. 149.56 crore ) for damages against Ion Exchange at the International Chamber of Commerce (ICC) alleging the wrongful termination and breach of terms of the agreement. The ICC tribunal has rejected Ethingen's claim for damages against the company and has also rejected all other claims and requests of the parties.

Power Grid

The public sector undertaking has received a letter of intent for the establishment of an inter-state transmission system project in Gujarat.

HDFC Bank

The lender has called for shareholders’ nod for the re-appointment of Sashidhar Jagdishan as the Managing Director & Chief Executive Officer of the bank, and the appointment of V Srinivasa Rangan as an Executive Director of the bank.

GRM Overseas

The board of the company has approved the appointment of Atul Garg as MD of its subsidiary GRM Foodkraft for 5 years.

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