Stocks in Focus on Nov 28: Bajaj Finance, IDBI Bank, Hero Moto, IEX & More

  • Stock Market News
Stocks in Focus on Nov 28: Bajaj Finance, IDBI Bank, Hero Moto, IEX & More

By Malvika Gurung -- Bajaj Finance (NS: BJFN ): The NBFC giant will pick up to 40% stake in Snapwork Technologies through primary and secondary transactions for bolstering its technology roadmap. The acquisition cost is up to Rs 93 crore.

Indian Oil (NS: IOC ): The PSU major has raised Rs 2,500 crore by issuing 25,000, 7.44% NCDs of Rs 10 lakh each on a private placement basis.

Hero MotoCorp (NS: HROM ): The automaker will raise the prices of its motorcycles and scooters by up to Rs 1,500, starting Dec 1 due to overall inflationary costs. 

IDBI Bank (NS: IDBI ): As per the finance ministry, the bank will continue operating as a private sector bank after its strategic sale and the government's 15% residual stake in the lender.

L&T Finance Holdings (NS: LTFH ): The leading NBFC completed the sale of its mutual fund business to HSBC Asset Management for nearly Rs 3,484 crore while realising a surplus cash balance of Rs 764 crore.

Indian Energy Exchange (NS: IIAN ): The power trading exchange approved the share buyback of the company through the open market route at Rs 200 apiece.

Muthoot Finance (NS: MUTT ): It will raise Rs 300 crore through the public issue of secured redeemable NCDs with a face value of each NCD at Rs 1,000. The issue will open on Nov 28 and close on Dec 19.

Venus Pipes & Tubes: The financial services company BNP Paribas (EPA: BNPP ) Arbitrage acquired 6.5 lakh shares or a 3.2% stake in the company at an average price of Rs 650 apiece for Rs 42.25 crore.

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