Stocks to Watch: SBI, Biocon, PNB, NDTV, PTC India, ZIM Lab | Popgen Tech

State Bank of India: The country’s largest lender State Bank of India (SBI) on Thursday said it will consider raising funds by issuing up to ₹10,000 crore of infrastructure bonds. This will also include a greenshoe option ₹5,000 crore, the bank said in a regulatory filing. Fundraising, if approved, would be through a public issue or private placement during fiscal 2023, SBI said. Its central board executive committee will meet on November 29 to consider fundraising.

Biocon: Biotechnology major Biocon on Thursday said its subsidiary Biocon Biologics has allotted equity shares worth ₹2,205.63 crore to it as part of an equity infusion to finance the late acquisition of the biosimilars business of Viatris Inc. In February this year, Biocon Biologics Ltd (BBL) signed an agreement to acquire the biosimilars business of Viatris Inc for a consideration of up to USD 3.335 billion (approx. ₹24,990 crore). Biocon Ltd subscribed to the equity shares and the allotment was made by BBL on November 23 for a cash consideration of ₹2,205.63 crore

Punjab National Bank: State-owned Punjab National Bank (PNB) on Thursday said it has received government approval to divest its entire stake in UTI Asset Management Company Limited as part of its non-core asset sale plan his to strengthen his capital base. The bank, which has a 15.22% stake in UTI AMC, will divest its entire stake in the mutual fund company in single or multiple tranches for realizing returns on investment. Its current valuation is at ₹1,329 crore.

NDTV: About 28 lakh NDTV equity shares were subscribed on the third day of the open offer led by Vishvapradhan Commercial along with AMG Media Networks and Adani Enterprises. This amounts to more than 16.5% of the total number of shares that will be acquired. the ₹492.81 crore open offer started on November 22 and will continue till December 5, 2022. According to BSE data, the open offer in NDTV saw subscription of 27,72,159 shares of ‘ equity — 16.54% of the book size of 1, 67,62,530 equity shares.

Laurus Labs: Lauras Labs has entered into a Share Subscription Agreement and Shareholders Agreement with Ethan Energy India for the purchase of a 26% stake in Ethan Energy India, according to a report. This will help the company to consume 100% of the solar power to be supplied by Ethan Energy India from their 10 MW solar power plant, the report added.

ZIM Laboratories: Drug delivery solution provider ZIM Laboratories Ltd on Wednesday said it plans to list on India’s National Stock Exchange (NSE) on November 25. ZIM Laboratories, already listed on the BSE since June 2018, will now extend its listing to the NSE, the company said in a statement. To date, the company said, it has provided more than 85 percent return to its investors from the list price.

PTC India: Power trading solution provider PTC India consolidated net profit more than tripled to ₹157.11 crore in the March 2022 quarter, mainly due to lower costs. The consolidated net profit of the company was ₹49.77 crore in the quarter ended March 31, 2021, a BSE filing showed. Its total costs have decreased to ₹2,890.57 in the quarter from ₹3,792.56 crore a year ago.

PVR: To strengthen its position in the markets, PVR Cinemas on Thursday announced the opening of its first and largest 12-screen superplex in the city of Kerala at Lulu Mall, Thiruvananthapuram . The operation for this cinema will start on December 5, 2022. The 12-screen property will host international formats such as IMAX and 4DX, 2 of PVR’s luxury formats, LUXE.

Manaksia Ltd: For the financial year 2022-2023 the company declared an interim dividend of 150% and for the purpose of the same 25 November 2022 was established as the record date which makes the stock likely to be in focus tomorrow. The company said in a stock exchange filing that its Board of Directors “Declared Interim Dividend @ 150% (ie, Rs. 3.00/- per equity shares having a face value of Rs. 2/- each) on the company’s equity shares. Company for the Financial Year 2022-2023. The Interim Dividend shall be paid on or before Friday, 9 December 2022.

Commercial Syn Bags, Dev Information Technology, Mafatlal Industries, and Maharashtra Seamless: These four stocks will be focused on November 25 as on this day they will turn ex-split and ex-bonus. These stocks are multi-baggers and have given huge returns between 100% to 450% to their investors in the last two years. 3 of the stocks are small-cap, while one is mid-cap.