Stocks in Focus on Sept 22: SBI, HDFC Bank, SpiceJet, PB Fintech & More

By Malvika Gurung — State Bank of India (NS:): The country’s largest lender informed raising Rs 4,000 crore through Basel III compliant Tier 2 bonds at a coupon rate of 7.57% on Wednesday.

HDFC Bank (NS:): The private lending giant has signed a multi-year agreement with the American-British company Refinitiv for acquiring new customers, digital transformation and cost reduction.

PB Fintech (NS:): The e-insurance major will invest Rs 650 crore in subsidiary Policybazaar Insurance Brokers and Rs 250 crore in Paisabazaar Marketing And Consulting.

IDBI Bank (NS:): LIC subsidiary company has completed its entire stake sale in the joint venture Ageas Federal Life Insurance Company for Rs 580 crore.

SpiceJet (NS:): The beleaguered airline has been ordered to continue operating at a 50% capacity until Oct 29 by the DGCA. 

REC (NS:): The public finance company has received a ‘Maharatna’ central public sector enterprise status by the Centre, giving it greater operational and financial autonomy.

Triveni Engineering (NS:) & Industries, Triveni Turbine (NS:): The leading sugar manufacturer has sold its entire stake of 21.85% in Triveni Turbine for Rs 1,609 crore.

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