HDFC Ltd plans to raise up to ₹1.25 lakh crore in a year by issuing debt securities through various modes
Axis Bank has decided to wind down its UK subsidiary as it focuses on the Indian banking sector
Here's a lost of stocks that may be in news on Friday:
HDFC: Housing finance major HDFC Ltd plans to raise up to ₹1.25 lakh crore in a year by issuing debt securities through various modes, according to its annual report for 2019-20. The Housing Development Finance Corporation (HDFC) Limited will convene its annual general meeting (AGM) on July 30 and will seek shareholders’ approval for the capital raise plan.
HDFC Life Insurance Company: Vedanta Ltd will be dropped from NSE's benchmark index Nifty 50 and other indices from July 31 on account of the company's proposed voluntary delisting. In its place, HDFC Life Insurance Company will be included in the 50-share index.
Axis Bank: The private sector lender on Thursday said it has decided to wind down its UK subsidiary and the move will not have any material impact on its financial position. Axis Bank has been reviewing its international strategy and as part of this, has adopted a clear objective to focus on the Indian banking market and harness the potential there, it said in a regulatory filing.
Motherson Sumi: Auto components major Motherson Sumi Systems Ltd on Thursday announced a group restructuring under which it will demerge its domestic wiring harness business into a new company that will eventually be listed.
RIL: The company has issued a statement clarifying the news reports saying that 'Reliance Industries nears deal to acquire retail businesses of Future Group'. RIL said that it evaluates various opportunities on an ongoing basis. “… would like to clarify that we are unable to comment on media speculation and rumors and it would be inappropriate on our part to do so," it said in a statement.
HUL: Home-grown FMCG firm Emami Ltd on Thursday objected to HUL rebranding its men's range of skincare product as 'Glow & Handsome', claiming trademark rights over the name. Emami has also hinted at taking legal action as it has already changed its men's fairness cream's name to 'Emami Glow & Handsome'.
JB Chemicals and Pharmaceuticals: US-based global investment firm KKR on Thursday said it will purchase majority stake in J B Chemicals and Pharmaceuticals from its promoters and then make an open offer to acquire 26% more in the branded formulations company.
Affle India: Mobile advertising company Affle on Thursday said it will acquire 8% per cent stake in smartphone operating system firm Indus OS. "Affle (India) Ltd through its subsidiaries announced the signing of a definitive agreement to acquire 8% ownership in OSLabs Pte Ltd, Singapore, (Indus OS). Indus OS operates India's largest independent indigenous app store, with key investment from Samsung Venture Investment Corporation," Affle said in a statement.
Muthoot Finance: The company will seek the approval of shareholders to increase borrowing powers of board from existing ₹50,000 billion to ₹75,000 billion, it said in a regulatory filing.
PI Industries: The company has launched QIP worth ₹2,000 crore at a floor price of ₹1,534.24 per share.
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