Tata Steel, KSB, Power Mech and TCI in focus on September 30 due to fund infusion, orders and buyback

Tata Steel’s board has approved an additional fund infusion of up to $2 billion (around ₹18,488.10 crore) into its wholly owned foreign subsidiary, T Steel Holdings Pte. Ltd. This will raise the aggregate investment limit to $26.21 billion, to be made through subscription to equity shares in one or more tranches.

KSB has received a $12.40 million export order from Dangote Projects Free Zone Enterprise for the supply of 18 boiler feed pump packages, which is expected to strengthen its presence in the international fertilizer and energy sectors.

Power Mech Projects has secured a ₹549.37 crore operation and maintenance contract from Adani Group’s Moxie Power for the 2x600 MW Tuticorin plant.

Transport Corporation of India has approved its first-ever buyback of up to 15.62 lakh equity shares at ₹960 per share, involving an amount of up to ₹150 crore. The buyback price represents a 10.6% premium to Tuesday’s closing price.

Other stocks likely to attract attention include Punjab Sind Bank, whose board has approved a $1 billion program to raise funds in foreign currency; Exide Industries, which invested ₹100 crore in its wholly owned subsidiary Exide Energy Solutions through a rights issue, taking total investment in EESL to ₹5,202.23 crore; Arisinfra Solutions, whose subsidiary ArisUnitern RE Solutions has been appointed by Transcon Group as Developer-as-a-Service partner for Transcon UNO at Kalina, Mumbai, under a ₹400 crore contract; Prime Cable Industries, which received a ₹16.49 crore purchase order for 11 kV medium-voltage cables; Capital India Finance, which raised ₹100 crore through private placement of NCDs with a 27-month tenure and 10% fixed coupon; and Krystal Integrated Services, which secured an ₹8.75 crore annual manpower contract from Kosol Energie for its Bavla facility in Gujarat.