Bank

Veritas, IDBI Bank, Punjab National Bank, PB Fintech and others

Stocks to watch on Thursday: The market lost the momentum of the previous two trading sessions and closed with a loss of around 0.5% in the last session, due to the sale in all sectors, except for large commodities. consumption. The correction in Asian peers also weighed on the market. The BSE Sensex fell 263 points to 59,457, while the Nifty50 fell 98 points to 17,718.

Stocks in the news

Veritas (India)

Investor Swan Energy took an additional 3.36% or 9.01 lakh shares in the company through open market transactions on September 20. He already owned just 1,441 shares of the company earlier.

IDBI Bank

The bank has sold its entire stake in Ageas Federal Life Insurance Company to its partner Ageas Insurance International NV. In May 2022, the bank had entered into a share purchase agreement to sell its entire 20 crore shareholding in Ageas Federal Life Insurance Company to Ageas Insurance International NV. With this sale, IDBI Bank’s stake in Ageas Federal Life Insurance Company is now NIL.

National Bank of Punjab

The public sector lender raised Rs 658 crore by issuing additional Basel III compliant Tier-1 bonds at a coupon rate of 8.3% per annum, based on a private placement.

Ashoka Buildcon

The company has been awarded a contract for the construction of a new BG line, from South Western Railway as it has the Letter of Acceptance (LOA) from South Western Railway for the said project. The project includes electrical and telecommunications works in engineering, procurement and construction (EPC) mode. The project cost accepted for the project is Rs 258.12 crore. The execution period is 24 months from the date of the fixed date.

Heritage Foods

The company said the board will meet on September 30 to consider raising funds through the issuance of shares on a rights issue basis.

Kirloskar Oil Engines

The company said board members appointed Anurag Bhagania as the company’s chief financial officer effective September 22. Additionally, the company acquired a 24% stake in La-Gajjar Machineries (LGM). He had acquired a 76% stake in LGM in 2017 with an agreement that the balance would be acquired by KOEL over a 5-year period.

PB Fintech

The company will invest Rs 650 crore in subsidiary Policybazaar Insurance Brokers, and will also invest Rs 250 crore in another subsidiary Paisabazaar Marketing And Consulting.

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