Stocks to Watch: Grasim, SBI, Dabur India, L&T Finance, Lupin, RBL Bank
Grasim Industries: Has set the price for its ₹4,000 crore rights issue at ₹1,812 per share. The rights issue will be open for subscription between 17 January and 29 January, and the record date has been fixed as 10 January. The company plans to issue up to 2.2 crore shares to promoters and the promoter group.
State Bank of India: The country's largest lender has announced the conclusion of successful placement of $250 million senior unsecured Green floating rate notes, referred to as "The Green Notes." This issuance, maturing on 29 December 2028, is part of SBI's $10 billion medium-term note programme and was conducted through a private placement facilitated by its London branch. The Green Notes rated BBB- by S&P, were issued on a floating rate basis of 1.20% above SOFR and has been listed on the India International Exchange. L&T Finance Holdings: Has completed the merger of subsidiaries, L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee, with itself.
With this merger, all the lending businesses will be housed under one entity i.e., L&T Finance Holdings. Separately, the company reported estimated retail disbursements at ₹14,500 crore for Q3FY24, a growth of 25% on YoY, while the retail loan book at the end of Q3FY24 is pegged at ₹74,750 crore, growing 31% YoY. Dabur India: Demand trends witnessed "sequential improvement" in the December quarter, although rural growth continued to lag urban growth, homegrown FMCG major Dabur India said in a business update.
The company expects to register "mid to high single-digit growth during Q3 FY24" in its revenue. International business is expected to register double-digit growth in constant currency terms, led by good momentum in the MENA region. Lupin: The pharma major has
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