Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17

• The Indian stock markets could open on a positive note on September 17, with enough steam left in the bulls even now.
  
• Trends on SGX Nifty showed an increase of 89 points, suggesting that Nifty could open in the green despite mixed cues in other Asian markets.
  
• Biocon, Hero MotoCorp, TVS Motor and banks could be among the top stocks to watch out for on September 17.
  

Biocon

Its subsidiary, Biocon Biologics, has entered into an agreement with Serum Institute of India to offer it a 15% stake in the company in exchange for 100 million vaccine doses per year for 15 years, and commercialisation rights for Serum Institute’s vaccine portfolio for the global market.

Hero MotoCorp

To increase prices of its scooters and bikes by up to ₹3,000 from September 20, to offset the increase in commodity prices.

TVS Motor

Acquired a majority stake in EGO Movement, a Swiss technology company with a portfolio of electric bikes, scooters and cargo bikes.

Banks

Finance Minister Nirmala Sitharaman announced a framework for India’s bad bank, guaranteeing up to ₹30,600 crore for security receipts. The National Asset Reconstruction Company will buy bad loans from banks by offering them 15% of the net asset value in cash, and the rest in the form of security receipts.

IPO Watch

Sansera Engineering IPO subscribed 11.47 times on the final day. Paras Defence announces IPO, offer opens on September 21.

Kotak Mahindra Bank

Acquired Volkswagen group’s vehicle loan arm, Volkswagen Finance, giving it access to 30,000 customers with a loan outstanding of ₹1,340 crore.

Infosys

Selected by Frost Bank, a Texas, US-based bank, to launch a new mortgage loan product.

JSW Steel

Raised $1 billion by way of bonds in the overseas market.

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