Stocks to Watch: L&T, HDFC Bank, Jupiter Hosp, RIL, HAL, Tata Steel
L&T: The engineering and infrastructure conglomerate Larsen & Turbo (L&T) has declared a buyback of shares that will open on 18th September 2023 i.e. on Monday next week. This Larsen & Turbo buyback of shares will remain open till 25 September 2023.
In its letter of offer shared on Indian stock market exchanges, Larsen & Turbo declared share buyback through the tender route at a floor price of ₹3,200 apiece. LT share price today is around ₹2,906 apiece on NSE, which means Larsen & Toubro's buyback price will be available at a premium of around 10 per cent when the buyback offer opens on Monday next week. HDFC Bank: According to IIFL Alternative Research, HDFC Bank is expected to see $650 million in passive inflows in the FTSE's semi-annual index review, scheduled for September 15.
The changes will be effective from September 18. FTSE will increase HDFC Bank's weightage in three tranches. The stock is likely to see inflows of $650 million, which includes inflows due to FTSE, Sensex and Wisdom Tree ETF inflows.
Jupiter Hospital: The listing date for the initial public offering (IPO) of Jupiter Life Line Hospitals Limited has been fixed for 18 September 2023. As per the information available on the BSE website, Jupiter Hospital shares will be listed on BSE and NSE on 18 September 2023 in a special pre-open session. Meanwhile, grey market sentiments have remained bullish in regard to Jupiter Hospital's IPO.
According to market observers, shares of Jupiter Hospitals are available at a premium of ₹250 in the grey market. RIL/ONGC: The Centre on Friday increased the windfall tax on the sale of domestic crude oil to ₹10,000 per tonne. The levy was at ₹6,700 per tonne for the past two weeks.
Read more on livemint.com
