Stocks in news: Adani Group, Tata Power, Rishabh Instruments, UCO Bank, Ratnaveer Precision and more

The domestic equity market was trading higher on Monday. Sensex rose 221 points to 66,820 and Nifty gained 78 pts to19,898.   

Here’s a look at stocks that are likely to remain in news today 

Tata Power  

Shares of Tata Power Company Ltd have approached their record high reached in April last year. The Tata Group stock touched a record high of Rs 298 on April 7, 2022. Currently, the stock is 11% short of the record high hit last year. Tata Power stock ended 2.01% higher at Rs 268.90 in the previous session, 10.82% or Rs 29.1 lower than the all-time high on BSE.  

SJVN  

Shares of SJVN Ltd are in focus today after the company through its wholly owned subsidiary SJVN Green Energy Limited (SGEL) inked a power purchase agreement (PPA) with Bhakra Beas Management Board (BBMB). Additionally, India Ratings & Research has affirmed the ratings on Unsecured, Rated, Listed, Redeemable Non-Convertible Debentures issued by the company. The rating has been affirmed as AA plus with stable 'outlook'.   

Adani stocks  

Shares of Adani group flagship Adani Enterprises Ltd (AEL) and Adani Ports and Special Economic Zone will be in focus on Monday as data showed promoters bought additional stakes in the two companies over last couple of weeks. 

Ratnaveer Precision Engineering:  

Shares of stainless steel-based products manufacturer will list on the bourses on September 11. The listing date was advanced from September 14 as per IPO schedule. The final issue price was set at Rs 98 per share.  

Vakrangee 

The technology company has inked a binding term sheet with private equity investor Aaviskaar Capital to buy 48.5% equity stake in Vortex Engineering. Vortex is one of the leading providers of automated teller machines (ATMs), and so far has shipped 10,000 plus ATMs across India, Africa and South Asia and Software products to complement ATM hardware. This acquisition will help Vakrangee achieve backward integration.  

Schaeffler India 

The high-precision components and systems maker has acquired 100% shareholding of KRSV Innovative Auto Solutions. The closure of acquisition transaction was completed on September 8.  

 UCO Bank 

The public sector lender has raised lending rates by 5 bps across tenures. The bank has revised the marginal cost of fund-based lending rates with effect from September 10. Other benchmark rates - repo linked rate, base rate and BPLR have been kept unchanged.  

IRB Infrastructure Developers 

The Mumbai-based highway developer reported a toll revenue of Rs 417 crore for August 2023, rising 24% against Rs 336 crore in same month last year.  

Rishabh Instruments 

The shares of test and measuring instruments maker will make their market debut on BSE and NSE on September 11. The final issue price has been fixed at Rs 441 per share. 

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