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Stock to Watch: Keystone Realtors, Adani Transmission, Indigo, HFCL, SBI | Mint – Mint

Here is the list of the top 10 stocks that will be in focus today:

Keystone Realtors: The shares of Keystone Realtors are expected to make their market debut on the stock exchanges BSE and NSE on Thursday. Keystone Realtors, which sells properties under the brand ‘Rustomjee’, saw its initial public offering (IPO) receive 2 times subscriptions on the last day of the offer that was open from Monday, November 14, 2022, to Wednesday, November 16, 2022. The company had a fresh issue of up to 560 crore and an offer for sale (OFS) of up to 75 crore. The price range for the initial share sale was fixed at 514-541 a share.

Adani Transmission: The Supreme Court on Wednesday upheld the 7,000 crore transmission contract awarded by Maharashtra Electricity Regulatory Commission to Adani Electricity Mumbai Infra Ltd. While doing so it rejected Tata Power’s plea that challenged this contract. Essentially, the top court upheld an order passed by the Appellate Tribunal for Electricity (Aptel).

InterGlobe Aviation: IndiGo on Wednesday launched flight services to Portugal and Switzerland via Istanbul under its codeshare partnership with Turkish Airlines. These new routes and frequencies are effective from November 23. It will offer new options and more capacity for customers exploring travel between India and Europe in the upcoming holiday season, IndiGo said in a statement. These flights will cater to business and leisure travellers, it stated.

HFCL: Telecom equipment maker HFCL Limited is planning to sell Wi-Fi access point routers directly to consumers starting from the April-June quarter of FY24, which will be the business-to-business provider’s entry into the consumer segment. The routers will be designed and manufactured at its upcoming plant in Manesar with an investment of 425 crore, for which it has already received approval under the design-linked equipment manufacturing incentive (DLI) scheme approved by the government, said managing director Mahendra Nahata told Mint.

Apollo Tyres: Apollo Tyres on Wednesday announced a sustainable material partnership with Tyromer Inc, which will supply recycled rubber material produced using environmentally sustainable processes to it. Through the partnership, Tyre-Derived Polymer (TDP) will be used for new tyres. Tyromer Inc, through its Indian associate Tyromer India LLP, is committed to supplying recycled rubber material, the company said in a statement.

SBI: State Bank of India (SBI) chairman Dinesh Kumar Khara on Wednesday exuded confidence that the country’s largest lender will be able to maintain its performance on the asset quality side even amid the high loan growth. He said SBI, which won investors’ confidence after posting stellar quarterly earnings recently, will be able to maintain net non-performing assets under 1% going forward as well.

Shriram Transport Finance: Shriram Capital Ltd, the holding company of the Shriram Group, and Shriram City Union Finance would be merging shortly with Shriram Transport Finance, the company said on Wednesday. Following the merger, Shriram Financial Ventures (Chennai) Pvt Ltd, the holding company of Shriram Capital Ltd, would now become the promoter and holding company of the financial services and insurance businesses of the group.

M&M Financial Services: Country’s largest insurance firm, Life Insurance Corporation of India, bought additional 2.01% shares in M&M Financial Services via open market transactions, according to its filing. This means LIC has increased its shareholding in Mahindra and Mahindra Financial Services to 7.02% from 5.01% earlier.

ITC: ITC Hotels on Wednesday said it has partnered with Jolle Hospitality for a 116-room hotel in Belagavi in a bid to expand its footprint in south India. The hotel, spread over more than 5 acres, is currently under construction and will likely be completed by 2024. It will be named ITC WelcomHotel Belagavi, a release said.

HEG: Insurance giant Life Insurance Corporation of India (LIC) offloaded more than 2% equity stake or 7.76 lakh shares in HEG via open market transactions, according to BSE filing. With this, LIC reduced its shareholding in the company to 4.84% from the earlier 6.85%.

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