10 Stocks to Watch: IDFC First Bank, ITC, Gensol Engineering, Ola Electric, Coal India, and more

IDFC First Bank approved Warburg Pincus' 9.99% stake purchase, while British American Tobacco views its investment in ITC as strategic. Gensol Engineering and BluSmart Mobility face insolvency claims, and Hyundai and Kia exit Ola Electric Mobility. Coal India plans a Rs 16,000 crore capex for FY26, focusing on coal production, renewable energy, and thermal power projects.

IDFC First Bank has approved private equity major Warburg Pincus' proposal to acquire a 9.99% stake in the private sector lender, marking a significant strategic move for both entities. The approval was granted by the Competition Commission of India (CCI) on Tuesday, allowing Currant Sea Investments BV, an affiliate of Warburg Pincus, to subscribe to 81,26,94,722 compulsorily convertible cumulative preference shares (CCPS) [1].

The acquisition comes after shareholders of IDFC First Bank rejected a proposal to appoint a board member from Warburg Pincus. The CCI's approval indicates that the regulator believes the deal will not negatively impact competition within the Indian banking sector. IDFC First Bank is engaged in providing a range of financial services, including loans, credit cards, mutual fund distribution, and insurance products [2].

In a separate development, British American Tobacco (BAT) is planning to dilute its holding in ITC Ltd by approximately 2.3% through a block deal. The deal, valued at around Rs 1.36 billion, aims to provide BAT with greater financial flexibility to support its business transformation strategy and maintain sustainable shareholder returns. BAT, which is ITC's largest shareholder, will continue to hold an estimated 23.1% stake in the Indian conglomerate post the sale [3].

Meanwhile, Gensol Engineering and BluSmart Mobility are facing insolvency claims, while Hyundai and Kia have exited Ola Electric Mobility. Coal India has announced a Rs 16,000 crore capex plan for FY26, focusing on coal production, renewable energy, and thermal power projects [1].

References:
[1] https://legal.economictimes.indiatimes.com/amp/news/regulators/warburg-pincus-secures-cci-approval-for-10-stake-in-idfc-first-bank/121603141
[2] https://www.financialexpress.com/business/industry-cci-allows-warburg-pincus-to-acquire-up-to-10-in-idfc-first-bank-3867383/
[3] https://www.news18.com/business/markets/itc-shares-in-focus-as-bat-plans-2-3-stake-sale-via-1-36-billion-block-deal-details-9355509.html