Stocks to Watch: RIL, SBI, IdeaForge, TCS, Dabur, Titan, Infosys
Reliance Industries: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the demerger of the financial services business of Reliance Industries, the Mukesh Ambani-led conglomerate said on Thursday. The company added that it, along with Reliance Strategic Investments Ltd, will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments. Once demerged, Macquarie expects it to be the fifth-largest financial services company by net worth.
State Bank of India: The State Bank of India has announced a slew of management changes amid its ongoing bid to fortify its dominance. According to a Bloomberg report, Rajay Sinha (currently the chief general manager in charge of global markets) is set to become the MD and CEO of SBI Capital Markets Ltd. He will replace Amitava Chatterjee in the new role, with the latter returning to the bank to oversee its vertical catering to corporate clients.
Chatterjee will be the deputy managing director in his new role. IdeaForge Technology: The initial public offering (IPO) is going to hit Dalal Street on Friday. As per the information shared by the drone maker company, the ideaForge IPO listing date has been fixed on 7th July 2023.
As per the tentative schedule, the ideaForge IPO listing date was expected on 10th July 2023 i.e. on Monday. After strong ideaForge IPO subscription status and ideaForge IPO allotment, grey market and stock market experts are highly bullish on ideaForge Technology share listing.
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