Stocks to Watch: Axis Bank, Bharti Airtel, Cadila, Info Edge, Adani Ports, PNB1 min read . Updated: 05 Aug 2020, 08:13 AM IST
- Axis Bank has set a floor price of ₹442.19 per equity share for its proposed ₹10,000 crore qualified institutional placement offer
- The shareholders of Punjab National Bank have approved a proposal to raise up to ₹7,000 crore through share sale
NEW DELHI : Here’s a list of top ten stocks that may be in news on Wednesday:
Axis Bank: The private sector lender has set a floor price of ₹442.19 per equity share for its proposed ₹10,000 crore qualified institutional placement (QIP).
Bharti Airtel: The shareholders of the telecom operator have approved a proposed scheme of arrangement between Airtel, Bharti Airtel Services, Hughes Communications India and HCIL Comtel, with 99.98% of votes cast in favour of the merger.
Cadila: The pharma company has completed phase I of clinical trials of its covid-19 vaccine candidate, just three weeks after it started human dosing of the immunisation shots against the highly contagious virus.
Info Edge: The board of directors of Info Edge (India) Ltd, parent firm of popular jobs portal Naukri.com, has approved raising up to $250 million ( ₹1,875 crore) via institutional share sale. The company has set a floor price of ₹3,177.18 per share for the so-called qualified institutional placement offering (QIP).
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) on Tuesday said it has raised $750 million (about ₹5,600 crore) by issuing fixed rate senior unsecured notes. The said notes are expected to be listed on Singapore Exchange Securities Trading Limited and the India International Exchange (IFSC) Limited.
HPCL: The company has issued un-secured, redeemable, non-convertible, non-cumulative, taxable, debenture of ₹10,00,000 each aggregating to ₹1,200 crore on private placement basis for general corporate purpose, it said in a regulatory filing.
Tata Consumer Products: The Tata group company (TCPL) reported 81.78% rise in net profit at ₹345.55 crore for June quarter helped by increase in demand in some categories. The company posted a net profit of ₹190.09 crore in April-June a year ago, said TCPL, earlier known as Tata Global Beverages Ltd, in a BSE filing.
Gujarat Gas: The company’s June quarter net profit fell to ₹58.66 crore versus ₹234 crore year ago. Revenue from operations declined to ₹1,107 crore in the period under review versus ₹2,671 crore in the same quarter of the preceding fiscal.
PNB: The shareholders of state-owned Punjab National Bank (PNB) have approved a proposal to raise up to ₹7,000 crore through share sale to enhance its capital base.
Earnings: Adani Gas, Cadila Healthcare, DLF and Godrej Properties among others will announce their earnings for the quarter ended 30 June today.