Stocks to Watch: Indusind Bank; Coal India; IL&FS; Vedanta1 min read . Updated: 03 Sep 2020, 07:59 AM IST
- Market players will eye Indusind Bank, which has approved allotment of 4.76 crore shares to qualified institutional buyers, and Coal India among other stocks today
Here’s a list of top ten stocks that may be in news on Thursday:
IndusInd Bank: The lender has approved allotment of 4.76 crore shares to qualified institutional buyers (QIB) at ₹524 per share on a preferential basis, for an aggregate consideration of ₹2495.79 crore.
IL&FS: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the sale of the bankrupt company's education assets to its minority partner Lexington Equity Holdings Ltd (LEHL) on a slump sale basis.
Ashok Leyland: The commercial vehicle manufacturer has "ambitious plans" for a global play in the EV segment in both passenger and light commercial vehicles in the short and medium term, it said, adding that it will pursue its goal of achieving zero emission mobility.
Coal India: The state-owned miner reported a consolidated profit of ₹2,077 crore in the June quarter, down 55% year-on-year as demand for the dry fuel slumped due to the Covid-19 pandemic. Net sales fell 26% to ₹17,007 crore.
Vedanta: An affiliate of the company and US-based Eight Capital are among a group of 11 bidders who have submitted binding offers for Videocon Industries which is undergoing insolvency proceedings, a report in The Economic Times said.
Airline companies: Scheduled airlines in India will be able to sell seats up to 60% of an aircraft’s capacity on domestic flights, up from 45%,as the government further eases restrictions on the sector clobbered by the covid-19 pandemic.
Edelweiss Financial Services: Edelweiss Group has said it secured an investment of $350 million from Ontario Teachers’ Pension Plan Board, Canada’s largest single-profession pension plan, for its alternate investment arm Edelweiss Alternate Asset Advisors.
TVS Motor: The company has increased its stake in electric motorcycle startup Ultraviolette Automotive Pvt Ltd from 25.76% to 29.48% by investing an additional ₹30 crore.
Kalpataru Power Transmission: The company has incorporated a wholly- owned subsidiary, Kalpataru Power Senegal - SARL, in Republic of Senegal to foray into transmission and distribution and railways business.
Engineers India: The company has received a contract from Gail India for setting up PDH/PP plant and pipeline at Usar, Maharashtra for ₹448 crore.