Stocks to Watch: CESC, Federal bank, KEC, L&T Infotech, SBI, Welspun
2 min read . Updated: 17 Jun 2021, 08:01 AM IST
Premium- SBI, the country's largest lender, said that its central board will meet next week to consider raising additional tier-1 (AT-1) capital for the current fiscal
NEW DELHI: Here are top ten stocks that could be in the news today.
CESC Ltd: The discom’s consolidated net profit rose 13% to ₹429 crore in the March 2021 quarter, compared to ₹378 crore during the same period a year ago. Its total income during January-March 2021 rose to ₹3,003 crore, compared to ₹2,729 crore in the year-ago period.
Federal Bank: The lender’s board has approved a ₹916.25 crore fund raise via equity issue to World Bank arm International Finance Corporation and associates. The board also decided to raise up to ₹4,000 crore by issuing equity shares or other instruments through various modes and ₹8,000 crore by issuance of debt securities in Indian or foreign currency.
KEC International: The power transmission sector EPC company has secured orders worth ₹937 crore across transmission and distribution, railways, overhead electrification, and semi-high speed rail verticals, it said in a regulatory filing.
Larsen & Toubro Infotech Ltd: The company said it will acquire Cuelogic Technologies, a digital engineering and outsourced product development company, for $8.4 million (about ₹61.6 crore). Cuelogic will be integrated with the digital practice of Larsen & Toubro Infotech, it said in a statement.
PNB: Companies owned by fugitive diamantaire Mehul Choksi have allegedly siphoned off over ₹6,344.96 crore from the Punjab National Bank (PNB) using fraudulent letters of undertaking and foreign letters of credit, the CBI has alleged in its supplementary chargesheet, detailing the agency's three-year-long investigation.
SBI: The country's largest lender said that its central board will meet next week to consider raising additional tier-1 (AT-1) capital for the current fiscal. The bank said it plans to raise AT-1 capital by way of issuance of Basel III compliant debt instruments in US dollar or Indian rupee through a public offer or private placement to overseas and/or Indian investors during FY22. AT-1 bonds, also called perpetual bonds, carry no maturity date but have a call option.
Shriram Transport Finance Co: The company said that it will buy back bonds issued by it in January 2019 for a limit up to ₹450 crore. The decision was taken by the banking and finance committee of the company on 16 June, STFC said in a regulatory filing.
Shriram City Union Finance Ltd: The company's board has approved the issue of 1,000 redeemable secured non convertible debentures of face value of ₹10,00,000 each amounting to a total of ₹100 crore in one or more tranches either as fully paid up or partly paid-up on private placement basis.
TTK Prestige: The company’s performance during the year FY21 improved with an all-time high net sales of ₹2,033 crore, up 5% from ₹1,937 crore a year ago. The consolidated turnover and profit before tax of the company was at ₹2,187 crore compared to ₹2,073 crore a year ago. The company’s board has recommended a final dividend of ₹30 per share for FY21, totalling to ₹50 per share including the interim dividend already paid.
Welspun Enterprises Ltd: The company said that its consolidated net profit fell 54% to ₹40.94 crore during the quarter ended 31 March, from ₹89.08 crore during the same period a year ago. Consolidated total income during the January-March 2021 quarter rose to ₹600.97 crore, compared to ₹515.70 crore a year ago.
