Top Stocks Likely to Dominate Trade Today
- Yes Bank stakes change hands as SMBC buys from SBI, Bandhan Bank, and Carlyle.
- Big corporate moves with Dixon’s acquisition, Apollo Tyres’ price cuts, and Cochin Shipyard’s ONGC contract.
- Investor focus on updates from Poonawalla Fincorp, Indosolar, Central Bank, Hyundai, and LTIMindtree.
The stock market is set for an active session as several big names announced deals, stake sales, and collaborations that could drive investor attention. From banking to technology, auto, and manufacturing, here are the companies making headlines today.
Yes Bank: A major development as Bandhan Bank and SBI sold their shares in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC). Adding to this, SMBC will also pick up another 4.2% stake from a Carlyle Group affiliate for Rs 2,850 crore, marking strong global interest in the private lender.
Apollo Tyres: The tyre major announced a reduction in product prices ranging from Rs 300 to Rs 2,000, effective September 22. The move comes as the company passes on the benefits of a GST rate cut to its customers.
Cochin Shipyard: CSL secured a Rs 200 crore contract from ONGC for the repair of a jack-up rig. The project is expected to be completed within 12 months, further boosting CSL’s order book.
Poonawalla Fincorp: The NBFC allotted 3.31 crore shares worth Rs 1,500 crore to promoter Rising Sun Holdings, raising its paid-up capital to Rs 162.47 crore.
Dixon Technologies: Dixon is set to acquire a 51% stake in Kunshan Q Tech Microelectronics India for Rs 552.99 crore, a strategic step to strengthen its mobile and IoT manufacturing operations.
Indosolar: Promoter Waaree Energies will divest up to 61 lakh shares, representing a 14.66% stake, via offer-for-sale on September 18-19 to meet public shareholding norms.
Central Bank of India: The Board has cleared an equity investment of Rs 64.40 crore in subsidiary Cent Home Bank Finance, as part of a Rs 100 crore rights issue plan.
Hyundai India: The automaker finalized a three-year wage settlement with workers at its Chennai plant, ensuring smoother operations.
LTIMindtree: The IT firm announced a collaboration with Shopify to help enterprises build and scale AI-driven online stores.
