Stocks To Watch, February 23: IDFC First Bank, textiles, shrimp, auto ancillary stocks, SBI, YES Bank, Axis Bank, CreditAccess Grameen, RailTel, WeWork India

The bank has suspended four suspected officials, and it will pursue strict disciplinary, civil, and criminal action against the employees and other external individuals responsible, in accordance with applicable law, IDFC First Bank said.

IDFC First Bank said that it received a request from a particular department of the Haryana government for the closure of its account and the transfer of funds to another bank. In the process, a certain discrepancy was observed in the amount mentioned vis-à-vis the balance in the account.

In a regulatory filing, UPL informed that its board approved a composite scheme of arrangement amongst itself, UPL Sustainable Agri Solutions Ltd (UPL SAS), UPL Global Sustainable Agri Solutions Ltd (UPL 2), UPL Crop Protection Holdings Ltd (UPL Cayman) and their respective shareholders.

"The scheme proposes to consolidate the India crop protection business held in UPL SAS and the global crop protection business held in UPL Cayman under a single entity, creating a focused, pure-play crop protection platform," UPL said, adding that the scheme will simplify the group structure and unlock shareholders' value.

As per the scheme, UPL SAS will be merged with the UPL in the first step.

Then, the demerger of the demerged undertaking relating to the India Crop Protection Business from UPL to UPL 2. Lastly, there would be an amalgamation of UPL Cayman with and into UPL 2.

The UPL 2 will be listed on the Indian stock exchanges. The process is expected to be completed in the next 12-18 months.

Green advances in the portfolio were 1.56% of the bank's total advances as of March 31, 2025.

Further strengthening this strategy, SBI has launched CHAKRA, a Centre of Excellence to finance sunrise sectors such as renewable energy, electric mobility, and green hydrogen, accelerating India's green transition, the bank said in a statement on Sunday.

Besides, SBI is in talks with Japanese lenders for a tie-up on the acquisition finance business, which the RBI recently opened for domestic lenders.

SBI has the ability to fund up to ₹94,000 crore to borrowers looking at acquisition finance, Setty told reporters on the sidelines of an IBA event in Mumbai.

The Reserve Bank of India (RBI) came out with the final guidelines on the acquisition finance on February 13, allowing banks to lend up to 75% of a deal and capping the overall exposure on that aspect at 20% of its core capital.

Real estate data analytics firm CRE Matrix has seen the registration document of the Joint Development Agreement (JDA) between Lodha Developers and Sahana entities -- Sahana Properties and Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd.

The registration of the JDA was done on February 11. The total land, located at Parel-Sewri in Mumbai, is 41,526 sq metres.

The JDA has been struck at a consideration of ₹364.80 crore. The stamp duty paid is ₹37.20 crore, as per the CRE Matrix.

No government funds will be parked, deposited, invested or transacted through these institutions, it said.

"IDFC First Bank and AU Small Finance Bank are hereby de-empanelled for government business in Haryana with immediate effect till further orders," according to a circular issued by the Finance Department.

IDFC First Bank on Sunday disclosed a ₹590 crore fraud committed by its employees and others in accounts held by the Haryana government with the private sector lender.

"We wish to inform that the company proposes to hold a meeting of its duly constituted Committee of Directors on Wednesday, February 25, 2026, to consider the proposal for the issuance of Non-Convertible Debentures on a private placement basis as part of its routine refinancing that is undertaken in the ordinary course of business," the filing added.

Besides, the board has approved raising of funds through issuance of up to twenty-five crore equity shares of face value of ₹2 each, through one or more of the following modes, viz., Qualified Institutional Placement, Further Public Offer, Rights Issue, or through any other permissible mode.

Return on assets (ROA) is a profitability metric that measures how efficiently a bank uses its assets to generate profit. A higher ROA indicates better asset utilisation and an increase in the bottom line.

"The bank will exit the current fiscal year with an ROA of 1%, and on an annual basis, the ROA will exceed 1% in the next fiscal year," Banodkar told PTI.

"Our focus is now to reduce our cost of borrowing. Our cost of borrowing is at least 1.25% higher than that of our peers. So, the focus is to reduce that because if we don't reduce that, we cannot service the end customer well," the founder and managing director of small-business-focused lender, Sachindra Nath, told PTI.

The company, which has grown its assets under management from around ₹3,000 crore in 2020 to nearly ₹15,000 crore in 2025, said the sharp expansion in recent years had necessitated higher liability mobilisation, impacting borrowing costs.

Gevra mine, operated by South Eastern Coalfields Ltd (SECL), a subsidiary of Coal India, is India's largest opencast coal mine.

Operational since 1981, the Gevra mine will produce 56 million tonnes this year. The mine has already received the environmental clearance to expand capacity to 70 million tonnes per annum.

In an interview with PTI here, SECL CMD Harish Duhan said, "By next year, only Gevra mine will be producing 63 MT and will become the number one mine in the world."

The first half of the next year is also expected to be "very good" in terms of sales growth, as the benefits of the GST rate cut will continue to come into the industry, he told analysts.

"Overall, I'm a firm believer that 8% to 9% as a CAGR, you can look at on a long-term basis..." Radhakrishnan said when asked about the growth prospects of the two-wheeler industry for the next fiscal year, on the back of strong performance in Q3.

The Hyderabad-based drug maker also expects its China-based manufacturing plant to break even in EBITDA in Q4 and meaningfully contribute to the bottom-line EBITDA in the next year.

"The ramp-up of the facility (Pen-G) is progressing in line with expectations and is well-positioned to deliver a meaningful uplift in profitability over time. Based on our current production level, we expect to produce more than 10,000 metric tonnes on an annualised basis over the next 12 months," Subramanian told analysts in a call.

The US president also slammed Friday's Supreme Court verdict that had quashed the sweeping levies imposed by him last year.

With the earlier announced tariff rate of 10% to be applicable to countries around the world, Indian goods being imported into the US would no longer have been subjected to the 18% tariff rate that had been decided following the announcement of a framework for an interim agreement on trade between India and the US. But that would change now with the new announcement of the 15% tariff rates.

In January, aviation regulator DGCA took various actions against the airline, including imposing penalties totalling Rs 22 crore and asking for the dismissal of a senior vice-president, in relation to the operational disruptions.

In an internal communication on Friday, the airline said Rohit Rikhye has been appointed as the Head of OCC with immediate effect.

He would report to Chief Operating Officer (COO) Isidre Porqueras.

Rikhye, who has been with the airline for over 11 years, was serving as Chief Pilot -- Standards, QA & Ops Safety.

The average number of pages scanned per year over the last five years, as per the RFP, is 9.18 crore pages.

Accordingly, the expected financial impact for the five-year contract period will be approx. ₹1,136.18 crore. However, actual figures may vary.