Stocks to watch today: Tamilnad Mercantile, State Bank of India, Tata Steel, HFCL and more – CNBCTV18

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Tamilnad Mercantile Bank | The bank will make its debut on the bourses today. The issue price has been fixed at Rs 525 per share.

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HFCL Ltd | The domestic telecom gear maker announced that it has bagged two advance purchase orders amounting to Rs 447.81 crore from Bharat Sanchar Nigam Ltd and RailTel Corporation of India Ltd.

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State Bank of India | India has decided to authorise the country’s biggest lender to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters’ body FIEO said on Wednesday. Additionally, the bank said it will increase the benchmark prime lending rate (BPLR) by 70 bps to 13.45 percent with effect from Thursday.

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KPI Green Energy Ltd | The company announced that it received new orders for executing Wind-Solar Hybrid Power Project of 4.20 MW (comprising of 4.20 MW Wind Turbine and 3 MWdc Solar) capacity from M/s Nouveau Jewellery LLP, Surat under ‘Captive Power Producer (CPP)’ business segment of the company.

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Tata Steel Ltd | The company approved the issue of 20,000 Non-Convertible Debentures with a face value of Rs 10,00,000 each.

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Life Insurance Corporation of India| The company said that its shareholding in Glaxosmithkline Pharmaceutical Ltd has diluted from 1,08,44,562 to 73,80,777 equity shares decreasing its shareholding in the pharma company from 6.4 percent to 4.4 percent of the paid-up capital.

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Balaji Amines Ltd | The company has announced the completion of phase one of Greenfield Project and the commissioning of phase two of the greenfield project along with the construction of two new plants.

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HCL Infosystems Ltd | National Company Law Tribunal sanctioned the proposed amalgamation of two wholly owned subsidiaries – Digilife Distribution and Marketing Services Ltd and HCL Learning Ltd – with the company.

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Lumax Industries Ltd | The company has acquired a 100 percent equity stake in the Czech Republic-based company, named Damberty Real s.r.o, now renamed Lumax Industries Czech s.r.o.

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GR Infraprojects Ltd | Promoters of the company — Laxmi Devi Agarwal, Suman Agarwal, Ritu Agarwal, Lalita Agarwal, Sangeeta Agarwal, Kiran Agarwal and Manish Gupta — will offload a total of 65 lakh shares or 6.8 percent stake through the share sale. The shares will be sold at a floor price of Rs 1,260 per share, an 8.24 percent discount on the current market price (CMP). Currently, the promoters hold an 86.54 percent stake in the company.