Stocks to Watch: Bajaj Finance, Hero MotoCorp, Indian Oil, and others


Stocks to Watch: Bajaj Finance, Hero MotoCorp, Indian Oil, and others

Before the opening bell, take a look at the businesses generating news.

Bajaj Finance: Through primary and secondary transactions, the company has a share purchase agreement in place to buy up to 40% of Snapwork Technologies. The company plans to use this acquisition, which will be finished by December 2022, to strengthen its technology roadmap. The purchase price was Rs 93 crore.

Hero MotoCorp: The company has decided to make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective from December 1, 2022. The price increase will be up to Rs 1,500 and the exact quantum of increase will vary by specific models and markets. This will help the company offset any further cost impact, and drive improvement in margins.

L&T Finance Holdings: L&T Finance Holdings has completed 100 percent stake sale in subsidiary L&T Investment Management and received Rs 3,484 crore ($425 million) as consideration for the sale of L&T Investment Management from HSBC Asset Management (India). The company also realised surplus cash balance of Rs 764 crore in L&T Investment Management.

Indian Oil Corporation: The oil marketing company has raised Rs 2,500 crore by issuing 25,000, 7.44% NCDs of Rs 10 lakh each on private placement basis. IOC will utilise funds for refinancing existing borrowing or funding capital expenditure.

Venus Pipes & Tubes: BNP Paribas Arbitrage has picked up 3.2% stake or 6.5 lakh shares in the company via open market transactions at an average price of Rs 650 per share. The stake acquired is worth Rs 42 crore. However, investor Hemant Rajanikant Shah sold 6.5 lakh shares at same price.