Stocks to watch: Muthoot Finance, Sreeleathers, Tata Chemicals, banks, SBI

At 08:55 AM, Nifty futures on the Singapore Exchange (SGX) traded 102 points, or 0.78 per cent higher at 13,179.20, indicating a positive start for the Indian market on Wednesday.

Here's a list of stocks that may trade actively in today's session. 

Muthoot Finance: The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank's mutual fund business, saying sponsoring a mutual fund is not in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.

Sreeleathers: The company's board has approved Rs 32,000 crore buyback at a price not exceeding Rs 160 apiece.

JSW Steel: JSW Steel has entered into a legally binding share purchase agreement to acquire, in one or more tranches, 1,32,37,227 equity shares of Rs 10 each, representing 26.45 per cent of the issued and paid-up share capital of JSW Vallabh Tinplate from the existing third party shareholders of JSW Vallabh Tinplate.

Tata Chemicals: Tata Chemicals on Tuesday announced it has appointed N Chandrasekaran as an additional director and chairman of the board of directors of the company effective November 24, 2020.

Banks: Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11 per cent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday.

State Bank of India has raised Rs 2,500 crore by allotting 25,000 Basel III compliant Non-convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as AT 1 Capital of the Bank, to bond subscribers. 

Telecom stocks: As per news reports, the telecom regulator has imposed a penalty on Bharti Airtel Ltd, Bharat Sanchar Nigam Ltd (BSNL), Reliance Jio Infocomm Ltd, among others, for pesky calls and messaging during the lockdown period.

IRB Infra: In a regulatory filing, the company said that Agra Etawah BOT Project implemented by AE Tollway Limited ('SPV') which is now part of IRB Infrastructure Trust - Private InvIT, has been issued a Completion Certificate by the Competent Authority. Consequently, toll rates for the SPV would be increased by 70 per cent and the SPV will collect toll at revised toll rates on this project.

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