Home >Markets >Stock Markets >Stocks to Watch: ICICI Bank, Bharti Infratel, RIL, Tata Power, GAIL, CG Power
Photo: iStock
Photo: iStock

Stocks to Watch: ICICI Bank, Bharti Infratel, RIL, Tata Power, GAIL, CG Power

  • ICICI Bank is considering raising as much as $3 billion in a share sale as it seeks to bolster its capital ratios
  • Tata Power has got shareholders' approval for raising its authorised share capital by 200 crore to 779 crore

NEW DELHI : Here’s a list of stocks that may be in news on Thursday:

ICICI Bank: The private sector lender is considering raising as much as $3 billion in a share sale as it seeks to bolster its capital ratios, Bloomberg reported. ICICI Bank is currently targeting a shale sale as soon as September, though the timing could still change depending on market conditions, it added.

Tata Power: The company has got shareholders' approval for raising its authorised share capital by 200 crore to 779 crore. Tata Power had also proposed to amend its Memorandum of Association to give effect to the increase in share capital, which has also been approved by shareholders.

Bharti Infratel: Telecom infra company Bharti Infratel on Wednesday decided to push the deadline for completion of merger with Indus Towers by over two months till 31 August.

Reliance Industries: The Competition Commission on Wednesday said it has cleared Facebook's proposed acquisition of 9.99% stake in Jio Platforms, the digital arm of Reliance Industries.

Embassy Office Parks REIT: Global fund Blackstone has raised around $300 million (about 2,270 crore) by selling its shares to institutional investors through block deals in Embassy Office Parks REIT to monetise part of its investment.

Prestige Estates: Realty firm Prestige Estates reported a 64% fall in its consolidated net profit to 51.1 crore for the quarter ended March. Its net profit had stood at 141.9 crore in the year-ago period, according to a regulatory filing.

General Insurance Corp: State-run reinsurer GIC Re reported near doubling of its net income to 1,197.4 crore for the March quarter, driven by investment income. The company's net income stood at 603.4 crore in the corresponding period of the preceding fiscal.

Canara Bank: The state-owned lender reported a standalone net loss of 3,259 crore for the quarter ended March, due to higher provisioning. The lender had reported a net loss of 552 crore in the corresponding period of the previous financial year.

GAIL: State-owned gas utility GAIL India Ltd reported a 170% jump in its fourth-quarter net profit, as lower corporate tax rate offset lower petrochemical and natural gas prices.

CG Power and Industrial Solutions: CG International BV, a wholly-owned subsidiary of the company, has entered into a share purchase agreement with AK Group France, for divestment of its entire shareholding in its subsidiary, CG Services Systems France SAS, along with its liabilities, for net consideration of 30,000 Euros.

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