A section of retail investors of Dewan Housing Finance Ltd are planning to approach the Supreme Court against any move by the National Company Law Tribunal (NCLT) to delist the mortgage lender’s shares as part of its resolution plan
NEW DELHI: Here are top ten stocks that could be in the news today.
DHFL: A section of retail investors of Dewan Housing Finance Ltd (DHFL) are planning to approach the Supreme Court against any move by the National Company Law Tribunal (NCLT) to delist the mortgage lender’s shares as part of its resolution plan. In their petition, the investors have accused NCLT and markets regulator Securities and Exchanges Board of India (Sebi) of failing to adequately inform investors about the impending delisting.
HDFC Bank: The lender will do whatever it takes to ramp up its digital banking infrastructure, chief information officer Ramesh Lakshminarayanan said. The lender also said that it will refund commissions to auto loan customers who had “availed of" a bundled GPS device between FY14 and FY20.
Jet Airways: The airline’s shareholders refused to approve the financial results for fiscals 2019-20 and 2018-19. The development comes shortly before the bankruptcy court's decision on a revival plan for the grounded airline.
Kotak Mahindra Bank: The lender’s life insurance arm is expected to incur a loss of up to ₹275 crore for the quarter ended June 2021, the lender said, adding that the number of claims have increased due to high fatalities during the second wave of covid-19 pandemic.
Max Financial Services: The company’s promoter, Max Ventures Investment Holdings Pvt Ltd, sold shares worth ₹783 crore through an open market transaction. As per block deal data on NSE, the promoter sold over 7.83 million shares of Max Financial Services Ltd at an average price of ₹1000.8 aggregating to ₹782.88 crore.
Natco Pharma: The drugmaker said its consolidated net profit declined 43% to ₹53 crore for the quarter ended 31 March, compared to ₹93 crore a year ago. For FY21, the company posted a consolidated net profit of ₹442 crore as compared with ₹458 crore a year ago.
Nazara Technologies: The company has signed a binding term sheet to acquire Middle East- and Turkey-based mobile gaming publishing agency Publishme for $2.7 million, through a primary and secondary transaction. Nazara will pick up a 69.82% stake in the company, as it looks to strengthen its presence in the Middle East and North Africa (MENA) region.
Novartis India: The pharmaceutical company reported March quarter net profit for fiscal 2021 of ₹9.7 crore, up a 43% from ₹₹6.78 crore a year ago. Revenue from operations stood at ₹99.29 crore, compared to ₹93.7 crore in the year-ago quarter. FY21 net profit jumped over two-fold to ₹20.9 crore from ₹10.08 crore in the previous fiscal.
Power Grid Corporation of India: The state-owned company’s March quarter consolidated net profit was up 6% to ₹3,526.23 crore, from ₹3,313.47 crore a year ago. For FY21, the company’s consolidated net profit stood at ₹12,036.46 crore, compared to ₹11,059.40 crore a year ago.
Wipro: The company’s unit, Wipro IT Services, will issue US dollar denominated notes worth $750 million on 23 June. Net proceeds of will be used to refinance existing debt and general corporate purposes. The notes are proposed to be listed on Singapore Exchange Securities Trading Ltd. The notes carry a coupon of 1.50% per annum and will mature on 23 June 2026, Wipro said.
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