Stocks to Watch: Reliance Industries, Punjab and Sind Bank, Brightcom Group and more

Punjab & Sind Bank | The board of the state-run bank on Wednesday approved raising of up to ₹2,000 crore in one or more tranches within 12 months through a Follow on Public Offer, Rights Issue, QIP, Preferential Issue or any other combination thereof. Also approved raising funds via Basel-III compliant Additional Tier-I and Tier-II bonds.

Brightcom Group | Sebi on Wednesday refused to lift the securities market restriction imposed on Suresh Kumar Reddy, promoter of Brightcom Group Ltd, in a case concerning irregularities in preferential allotments of shares made by the company. Besides, he would continue to be restrained from holding the position of a director or a Key Managerial Personnel in any listed company or its subsidiaries.

ICICI Securities | Brokerage house on Wednesday said market regulator SEBI has issued an administrative warning to the company regarding merchant banking activities. This administrative warning does not have any immediate impact on the financial or operational activities of ICICI Securities. The company has stated that it will continue to operate in accordance with all applicable laws and regulations.

JTEKT India | The company on Wednesday approved the capacity enhancement of the CVJ Line. The additional capacity will help the company to cater to the demand of fast-growing Indian OEMs. Investment required for the expansion will be approved by the board while framing the installation capacity and will be funded through internal accruals and borrowings.

Coal India | State-owned company on Wednesday said it has signed a joint venture agreement with BHEL to undertake the coal-to-chemicals business. The joint venture (JV) will begin by setting up a 2000 TPD (tonne per day) ammonium nitrate plant using BHEL's PFBG (Pressurized Fluidized Bed Gasification) technology.

Oil India | State-owned company said its board would meet on Friday, March 8, 2024, to consider and declare a second interim dividend for the current financial year 2023–24. "Notice is hereby given that a Board Meeting of the Company has been scheduled on Friday, 08th March 2024, inter-alia to consider and declare Second Interim Dividend for Financial Year 2023-24, if any," the PSU said.

MRPL | The Ministry of Petroleum and Natural Gas on Wednesday approved the appointment of Mundkur Shyamprasad Kamath as managing director (MD) of the state-run refiner. Kamath has taken the charge of managing director with effect from February 28, 2024. Kamath will be replacing Sanjay Varma, who holds the position of Managing Director (Additional Charge).