Infosys posted a stronger-than-expected 12.4% rise in the first quarter consolidated net profit to ₹4,272 crore
The ₹15,000 crore follow-on public offer of Yes Bank Ltd was subscribed 24% on Wednesday, the first day of the offering
Here’s a list of top stocks that may be in focus on Thursday:
Infosys: The Bengaluru-based IT company posted a stronger-than-expected 12.4% rise in the first quarter consolidated net profit to ₹4,272 crore, helped by large deals, and said its FY21 revenue is likely to grow by up to 2%.
Yes Bank: The ₹15,000 crore follow-on public offer (FPO) of Yes Bank Ltd was subscribed 24% on Wednesday, the first day of the offering. While the portion of shares reserved for institutional investors was subscribed 66%, the non-Institutional portion was subscribed 4%. Retail portion was subscribed 9% times and that for employees was subscribed 5%.
Larsen & Turbo Infotech: The company posted a 17.06% growth in its June quarter net profit at ₹416.4 crore. LTI’s overall revenues rose to ₹3,015 crore from the year-ago period's ₹2,586 crore, but were marginally down as compared to the preceding March quarter's ₹3,082 crore.
Cochin Shipyard: The country's largest commercial shipbuilder Cochin Shipyard Limited has signed contracts for construction and supply of two autonomous electric ferries to Norway-based ASKO Maritime, with an option to build two more identical vessels.
GAIL, Power Grid: The Department of Telecommunications (DoT) has withdrawn its demand notices asking state-owned Power Grid Corp of India Ltd and GAIL to clear license fee including interest and penalty for the financial years 2006-07 to 2018-19. License fee is part of the adjusted gross revenue levies calculated by the DoT and payable by operators.
State Bank of India: The board of the bank has approved raising Additional Tier 1 (AT1) capital to an amount of ₹4,000 crore and fresh Tier 2 capital of up to ₹10,000 crore. SBI will redeem existing Tier 2 capital bonds of ₹11,015 crore having all call dates during FY21 and replacing the same by fresh Tier 2 capital bonds of the same amount. This will be over and above the ₹10,000 crore Tier 2 capital raising.
SBI Cards and Payment Services: The credit card arm of India’s largest public sector bank is looking to raise funds by issuance of non-convertible debentures aggregating to ₹1,500 crores in one or more tranches over a period of time.
Manappuram Finance: The company expects to maintain profitability in the gold loan business amid the coronavirus pandemic, though vehicle finance, small business and housing finance verticals may be impacted, it said in a business update to the stock exchanges.
Minda Corporation: Auto components maker Minda Corporation Ltd reported a consolidated loss after tax of ₹299.77 crore in the fourth quarter ended 31 March, on account of impairment charges of one of its arms that has filed for insolvency. The company had posted a consolidated profit after tax of ₹41.92 crore in the corresponding period of the previous financial year.
Indiabulls Real Estate: Bengaluru-based realty firm Embassy Group has proposed to merge around 11 real estate projects comprising nearly 62 million sq ft area with Indiabulls Real Estate Ltd and take control of the merged entity.
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