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<ul><li>At 7:49 am the SGX Nifty was trading 0.68% higher pointing towards a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid the weak cues from the global market, the sell-off in the Indian stock market is likely to continue. Meanwhile, at 7:49 am the SGX Nifty was trading 0.68% higher. US stocks fell for the third consecutive session on Monday in a row amid the fear of the second lockdown in Europe and the rising uncertainty on negotiations with the next round of fiscal stimulus in the US. The Dow Jones Industrial Average tanked 509.72 points, and the S&amp;P 500 lost 1.16% towards the end of trading Asian markets also opened on a weak note. Hong Kong’s Hang Seng Index was trading 185 points lower, and the Shanghai Composite Index was down nearly 1% at 8:05 am. These are the stocks to watch out for during the trading session on September 22: State Bank of India The country’s largest lender State Bank of India on Monday said it had raised ₹7,000 crores by issuing Basel III compliant bonds. “The Committee of Directors for Capital Raising at its meeting of held today on September 21, 2020, accorded its approval to allot 70,000 Basel III compliant non-convertible, taxable, redeemable...debt instruments in the nature of debentures aggregating to ₹7,000 crore, to bond subscribers,” SBI said in a regulatory filing to stock exchanges. The shares of SBI ended 4% lower yesterday. HSIL Limited The board of directors of HSIL in a meeting held yesterday approved the proposal for buyback of fully paid-up equity shares of the face value of ₹2 each from the open market, amounting to ₹70 crore. The shares of HSIL Limited ended 1% lower yesterday. Bombay Burmah Trading The Wadia group-owned, Bombay Burmah Trading told investors that its board would meet on September 24, to consider the proposal of raising up to ₹75 crore via non-convertible debentures. The company in a stock exchange filing said it aims to use that money for a private placement basis. The shares of Bombay Burmah Trading ended 2% lower yesterday. GMM Pfaudler GMM Pfaudler said the company's promoter would sell 25.71 lakh shares via offer for sale at a floor price set at ₹3,500 per share on September 22 and 23. The shares of GMM Pfaudler ended 3% lower yesterday. Muthoot Finance, Manappuram Finance, IIFL Finance Fitch Ratings took rating action on the long-term issuer default ratings of four non-bank financial companies. For Manappuram Finance rating has been affirmed at ‘BB-’ and ‘Rating Watch Negative’ (RWN) has been removed. Whereas Muthoot Finance’s rating has also been affirmed at ‘BB’, but RWN has been removed. The shares of Muthoot Finance, Manappuram Finance and IIFL Finance ended 6%, 4% and 5% lower yesterday, respectively. Route Mobile The recently debuted Route Mobile received a stellar response from investors. The company dominated the bulk deals on Monday. Goldman Sachs acquired 24.09 lakh shares at the debut for ₹705.95 per share, and Kuwait Investment Authority acquired 5.79 lakh shares at ₹697.25 per share. The shares of Route Mobile ended 8% lower yesterday. IPO watch: CAMS, Angel Broking and Chemcon Speciality Chemicals CAMS and Chemcon Speciality Chemicals were subscribed 0.82 times and 5.20 times respectively yesterday. Today is the day two for CAMS and Chemcon investors to invest in the IPO. Angel Broking IPO will open today for subscription and will remain open until September 24. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a> <a href="https://www.businessinsider.in/business/corporates/news/chemcon-speciality-chemicals-318-crore-ipo-heres-what-works-and-what-doesnt/articleshow/78231465.cms" data-type="tilCustomLink">Chemcon Speciality Chemicals ₹318 crore IPO fully subscribed within two hours — Here’s what works and what doesn't</a>

Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others

<ul><li> At 7:45 am, the SGX Nifty was down 1% at 8.56 points.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid cautious cues from the global markets, Indian stock-market indices are likely to open in red on Thursday. At 7:45 am, the SGX Nifty was down 1% at 8.56 points pointing towards a lower start for Nifty50. US stocks finished lower on Wednesday after the minutes from the Federal Reserve's July meeting raised concerns about economic outlook. The Dow Jones Industrial Average ended 0.31% lower at 27,692.88 points. These are the stocks to watch out for during the trading session today: State Bank of India State Bank of India (SBI) on Wednesday said it raised around ₹8,931 crore in a Tier-II bond sale, the biggest offering by India’s largest bank this year. The bonds with a maturity of 15 years were raised at a coupon rate of 6.8%. The shares of SBI closed 1% higher yesterday. DLF Ltd Realty major DLF and US-based property player Hines have secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram. “The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said. The shares of DLF closed nearly a percent higher yesterday. PNB Housing Finance PNB Housing Finance board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue. The shares of PNB Housing closed 6% higher yesterday. Yes Bank Yes bank has exited CG Power &amp; Industrial Solutions Ltd (CG Power) by selling its entire stake-holding in the company, the bank said on Wednesday. Yes bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing. The shares of Yes Bank closed 5% higher yesterday. Ruchi Soya Patanjali Group firm Ruchi Soya on Wednesday reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30. It also announced the resignation of Acharya Balkrishna as managing director of the company. The shares of Ruchi Soya closed 5% higher yesterday. Titan Company The company in a release said that it is fully hedged with gold on lease and gold bought from stock markets. It said that the ineffective hedge loss due to mismatch in sales quantity would be reversed subsequently with a corresponding reversal of stock gain accrued in the first quarter ended June. The shares of Titan closed 0.3% higher yesterday. L&amp;T Finance L&amp;T Finance Holdings will raise up to ₹200 crore by issuing bonds, offering 8 per cent interest to investors. The shares of L&amp;T Finance closed almost flat yesterday. Indian Overseas Bank, J Kumar Infraprojects, Accelya Solutions, HealthCare Global Enterprises These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-just-became-a-2-trillion-company-hereaposs-how-it-came-to-rule-the-world-from-its-early-struggles-to-beat-microsoft-to-the-launch-of-the-iphone-/slidelist/77640152.cms" data-type="tilCustomLink">Apple just became a $2 trillion company. Here's how it came to rule the world, from its early struggles to beat Microsoft to the launch of the iPhone.</a> <a href="https://www.businessinsider.in/careers/news/cabinet-approves-creation-of-national-recruitment-agency-for-government-and-psu-bank-jobs/articleshow/77632641.cms" data-type="tilCustomLink">Cabinet approves creation of ‘National Recruitment Agency’ — Government and PSU bank job seekers will now have to clear a single central test</a>

Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

<ul><li>The <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword>’s (SBI) first-quarter profit is up by 81% year-on-year. </li><li>The bank announced that it has increased its provisions for COVID related accounts by another ₹1,863 crore. </li><li>The share of bad loans in its kitty have also reduced with the ratio of non-performing assets (NPAs) coming down over the last three months. </li></ul>India’s largest lender, the State Bank of India (SBI) continues to soar through the green with a 81% yearly jump in profits, partially aided by its stake sale in its life insurance arm — SBI Life Insurance — for ₹1,539.73. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth (YoY) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net interest income (NII) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 26,641 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 4,189.34 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net interest margin (NIM) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.24% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+23 basis points </td></tr></tbody></table> The stock was up over 3.4% in trade when the latest quarterly earnings were released. <div type="image" title="Copy of KBM share price" msid="77280492" hostid="261" caption="&amp;lt;p&amp;gt;SBI&amp;#39;s share price over the last three months&amp;lt;/p&amp;gt;"></div> Three months ago, SBI reported a <a href="https://www.businessinsider.in/finance/news/sbi-share-price-gains-as-sbi-cards-share-sale-boosts-profit/articleshow/76214619.cms">315% jump in its profits</a> — the highest ever yearly net profit clocked by the bank — after it earned ₹3,843.40 from selling its investment in SBI Life Insurance and ₹2,731 crore from its sale of stake in SBI Cards. <div type="image" title="SBI NET PROFIT" msid="77280475" hostid="261" caption="&amp;lt;p&amp;gt;SBI&amp;#39;s net profit over the last five quarters&amp;lt;/p&amp;gt;"></div> The number of bad loans with the bank also showed a dip with gross non-performing asset (GNPA) ratio dipping by 71 basis points to 5.44% between April to June. One hundred basis points make one percent. <div type="image" title="SBI BAD LOANS" msid="77280500" hostid="261" caption="&amp;lt;p&amp;gt;GNPA and NNPA ratios for SBI over the last five quarters&amp;lt;/p&amp;gt;"></div> That being said, SBI has still set aside an additional ₹1,863 crore this quarter as provision for COVID related accounts bringing the total provisions for COVID impacts to ₹ 3,008 crore. Overall, the bank’s provision coverage ratio stands at 86.32%, which indicates the percentage of loans that the bank can currently afford to cover. SBI isn’t worried about bad loans — believes recoveries will start happening by September SBI’s chairman, Rajnish Kumar, believes that this is the best time for SBI to take risks. He’s not worried about its bad loans either and doesn’t want the Reserve Bank of India’s moratorium to extend beyond August. Out of ₹ 42,000 crore net NPA, the corporate book accounts for ₹ 10,500 crore, which is just 50% of SBI’s quarterly profit. “So we can easily get rid of our corporate loan book and bring it to zero,” Kumar said during the earnings call. According to him, most of the corporates will be in a position to start paying back their loans in September. “We believe that they are reserving cash,” said Kumar. When it comes to the ₹32,000 crore of retail loans, the chairman explained that the numbers aren’t unlike what one would see during pre-COVID times. Even recovery for those loans is likely to start moving by September. “Even if, over the next seven quarters, we continue to provide ₹ 5000-6000 crore, it becomes zero,” Kumar said. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/icici-banks-gross-bad-loans-drop-to-the-lowest-in-5-years/articleshow/77167522.cms">ICICI Bank's gross bad loans drop to the lowest in 5 years</a> <a href="https://www.businessinsider.in/stock-market/markets/news/icici-bank-share-price-falls-alongside-sbi-hdfc-bank-kotak-mahindra-bank-and-other-banking-stocks/articleshow/77191098.cms">The fall in ICICI Bank shares reflects the market’s dislike of banking stocks this week</a> <a href="https://www.businessinsider.in/finance/banks/news/aditya-puri-sells-most-of-his-stake-in-hdfc-bank-for-843-crore/articleshow/77180364.cms">Aditya Puri sells most of his stake in HDFC Bank for ₹843 crore</a>

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Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others

Navdeep Yadav

Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more

Navdeep Yadav

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

Navdeep Yadav

SBI piles on profit and provision with cash from selling stake in insurance business⁠— bad loans drop

Prabhjote Gill

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