SBI Life Insurance Company Ltd and Divi’s Laboratories Ltd will replace Bharti Infratel and Zee Entertainment Enterprises Ltd in the Nifty 50 index from 25 September
NEW DELHI :
Here’s a list of top ten stocks that may be in news on Friday:
SBI Life and Divis Labs: SBI Life Insurance Company Ltd and Divi’s Laboratories Ltd will replace Bharti Infratel and Zee Entertainment Enterprises Ltd in the Nifty 50 index as part of the National Stock Exchange’s semi-annual review of indices. These changes will become effective from 25 September.
GMM Pfaudler: Process equipment manufacturer GMM Pfaudler has acquired a 54% stake in its parent firm Pfaudler Group for a consideration of around $27.4 million. GMM, which supplies process equipment to pharmaceutical and chemical industries, has signed definitive agreements to acquire a majority stake in Pfaudler Group from the private equity firm Deutsche Beteiligungs AG Fund VI (DBAG) for the stake.
Bosch: The world's largest automotive component maker’s Indian arm, has seen an order book erosion of $800 million for BS VI projects as covid-19 pandemic pulled the market into deep end, The Economic Times reported.
Jet Airways: The deadline for completion of Jet Airways (India) Ltd's insolvency resolution process, which was earlier extended till 21 August due to the nationwide lockdown to contain the spread of the covid-19 virus, will be extended further due to the pandemic. However, the resolution professional (RP) entrusted by the lenders of the airline to complete the insolvency process, hasn't given a fresh deadline yet.
Phoenix Mills: Mall developer Phoenix Mills Ltd raised ₹1,100 crore from institutional investors through a qualified institutional offering (QIP) this week, according to a Mint report.
Indian Overseas Bank: The state-owned lender posted a net profit of ₹121 crore for June quarter 2020 mainly due to fall in bad loans. Indian Overseas Bank posted a net loss of ₹342.08 crore for the same quarter a year ago.
V-Guard Industries: Axis Mutual Fund has sold 94.97 lakh shares or 2.22% equity stake in V-Guard Industries for ₹152.18 crore, via open market transactions. The mutual fund manager offloaded the shares in the secondary market at an average price of ₹160.25 apiece.
Wipro: The IT firm has implemented a blockchain-based small-scale liquefied natural gas trading platform for Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary, Liqvis GmbH. The platform simplifies the commodity supply chain and enable growth of the logistics-heavy decentralized LNG-for-trucks business, Wipro said in a statement.
MOIL: State-owned MOIL posted a net profit of ₹1.88 crore for the quarter ended June. The company had posted a ₹90.69-crore net profit during the year-ago period, MOIL said in a BSE filing.
Future Enterprises: Kishore Biyani-led Future Enterprises Ltd (FEL) has defaulted on interest payment of non-convertible debentures. "The company is unable to service its obligations in respect of the interest on non-convertible debentures (NCDs) due on August 16, 2020, since August 16, 2020 was holiday, interest was due on 17 August 2020," Future Enterprises Ltd said in a regulatory filing.
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