LTIMindtree, SBI, RBL Bank, Bandhan Bank, Lupin, AU SFB, and other stocks should be watched

The Nifty futures contract rose 13 points, or 0.07 percent, to 19,506.00, indicating that Dalal Street will open at a slow pace on Wednesday. These stocks will be the subject of today’s attention for a variety of reasons.

Housing Development Finance Corporation (HDFC) would be replaced by LTIMindtree in the benchmark Nifty50 index and most likely by LIC Housing Finance in the Nifty Financial Services index. The modification will take effect on July 13 (the last day of July 12).

In the meanwhile, LTIMindtree will replace HDFC in the Nifty Next 50 index and Jindal Steel & Power in the Nifty 100 index. Additionally, HDFC will be replaced by Mankind Pharma in the Nifty 500 index.

State Bank of India (SBI): Subject to regulatory clearances, SBI has got permission from the Executive Committee of the Central Board (ECCB) to acquire the whole share held by SBICAPS in SBICAP Ventures. The cost of capital is anticipated to be Rs. 708.07 crore.

Sygene International: The business has purchased Unit 3 of the Stelis Biopharma Limited (SBL) biologics production plant in Bengaluru.

After the sale is completed, the site will increase Syngene’s installed capacity for producing biologic medicinal substances by 20,000 liters, according to a legally binding term sheet between the two parties. The facility has the ability to grow in the future to produce up to 20,000 liters more of biologic medicinal material.

Adani Power: According to Adani Electricity Mumbai, its overall technical and commercial losses dropped from 6.55 percent in FY22 to 5.93 percent in FY23.

Bank RBL:As part of its Q1FY24 business report, the lender informed the exchanges that total deposits increased 8% year over year as of June 30, 2023, to Rs 85,638 crore, up from Rs 79,216 crore the previous year.

Lemon Tree Hotels has agreed to a license for a 48-room building in Udaipur, Rajasthan.

Meanwhile, gross advances increased 20% year over year to Rs 74,792 crore from Rs 62,110 crore in Q1FY23.

Sunil Samdani, the chief financial officer (CFO) of Bandhan Bank, has left the company to “take up other opportunities”. Up to October 1, 2023, he will serve a three-month notice period.

At the conclusion of the June quarter, its total advances increased by almost 7% YoY but decreased by 5.5% QoQ to Rs. 1.03 trillion. Sequentially, total deposits remained unchanged whereas annually, they increased 16.6% to Rs. 1.08 trillion. Deposits at CASA decreased 3% YoY and 8% quarterly.

AU Small Finance Bank: In the first quarter of FY24, gross advances rose 29% year over year to Rs 63,635 crore, while deposits rose 27% to Rs 69,315 crore, the institution said in its June quarter business update.

Samvardhana Motherson International Limited has signed an agreement for an investment of $14 million, a 12% optionally convertible secured note of Prysm Systems Inc., with MSSL Consolidated Inc., an indirect fully owned subsidiary of the company.

The business will also invest an additional $20 million and convert the secured note to stock for a majority share, or not less than 72 percent on a fully diluted basis, following the successful delivery of the Gen-3 prototype in accordance with the agreed specification and accompanying criteria, which is anticipated by Q4FY24.

Aside from that, Samvardhana Motherson International Limited and SMRP B.V. have agreed to buy an 81 percent share in Yachiyo’s 4W (Y4W) Business, which is located under Yachiyo Industry Co. Ltd.

Lupin: The firm has acquired a provisional authorisation from the USFDA to commercialize Dolutegravir Tablets for Oral Suspension, 5 mg, a generic version of ViiV Healthcare firm’s Tivicay PD Tablets for Oral Suspension, 5 mg.

Separately, the business has designated Friday, July 14, 2023, as the “Record Date” in order to identify the shareholders who would be eligible for dividend payments, should they be announced at the AGM (which will be place on August 3).

Aurobindo Pharma: The Phase 3 clinical trial findings for the breast cancer biosimilar drug, BP02 (Trastuzumab or biosimilar to Herceptin), produced by its fully owned subsidiary firm, Curateq Biologics Private Limited, were encouraging.

BHEL: BHEL and General Electric Technology GmbH Switzerland have expanded their collaboration on gas turbine technology.