BackStocks to Watch: Route Mobile, HCL Tech, RIL, Bharti Airtel, Bank of India
HCL Technologies has announced its intent to acquire DWS Limited, a leading Australian IT, business and management consulting group
PremiumNEW DELHI : Here’s a list of top ten stocks that may be in news on Monday:
HCL Technologies: HCL Technologies has announced its intent to acquire DWS Limited, a leading Australian IT, business and management consulting group. “The transaction is expected to close in December 2020, subject to closing conditions, including regulatory approvals," the company said in a regulatory filing.
Route Mobile: The cloud communication services provider will make its stock market debut today. The final issue price has been fixed at ₹350 per share. Route Mobile's IPO was subscribed 74.36 times.
Telecom companies: The number of internet subscribers in India increased to over 743 million at the end of March 2020, clocking a growth rate of 3.4% sequentially, according to Trai data. Reliance Jio led the chart grabbing 52.3% of the overall market share, followed by Bharti Airtel (23.6% share) in the quarter ended March 2020. Vodafone Idea held the third position as its internet subscriber base market share was at 18.7%, for the period in reference.
Essel Propack: The world’s biggest alternative asset manager Blackstone on Friday sold 23% stake in Essel Propack, one of the largest manufacturers of laminated tubes used mostly by FMCG and pharma companies, for a little over ₹1,860 crore through open market transactions.
RITES: The board of directors at government-owned RITES Ltd has approved buy-back of 96.98 lakh shares, representing 3.88% of the total equity, with a face value of ₹10 each at ₹265 per share, translating into the total buyback amount not exceeding ₹257 crore.
Future Enterprises: The company has defaulted on debt repayment towards commercial paper, it said Friday. Future Enterprises Ltd is unable to service its obligations in respect of the payment of commercial paper after its maturity and the gross principal amount on which the default has occurred on September 14, 2020, is ₹90 crore, it said.
DHFL: Dewan Housing Finance (DHFL) has issued a demand notice for loan overdues of over ₹112 crore from Pune-based Landscape Realty and its guarantors, which include entities and individuals linked to the 187-year-old PNG Jewellers, a popular chain of gold retailing shops.
Amber Enterprises: The company has acquired 9,000 equity share of face value of ₹1000 each comprising of 20% of the Equity Share Capital of Sidwal Refrigeration Industries Private Limited. “By virtue of the aforesaid acquisition of equity shares of Sidwal, the Sidwal has become a Wholly Owned subsidiary of Amber Enterprises India Limited with effect from 18 September 2020," it said in a stock exchange filing.
Bank of India: State-owned Bank of India on Saturday said it has received shareholders' nod for raising up to ₹8,000 crore through various modes, including issue of equity shares.
PNB: State-owned Punjab National Bank (PNB) on Friday said the financial regulator of Kazakhstan has revoked licence of its associate for failure to meet prudential standards and other mandatory norms.
PSBs: Public sector banks (PSBs) reported frauds worth over ₹19,964 crore in total 2,867 cases during the April-June quarter of the ongoing fiscal, according to a reply to an RTI query. Of the 12 PSBs, SBI reported the maximum 2,050 fraud cases involving ₹2,325.88 crore during April-June 2020.
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