Stocks to Watch: SBI, Yes Bank, Ruchi Soya, IRCTC, DLF, Adani Power2 min read . Updated: 20 Aug 2020, 08:06 AM IST
- Patanjali Group firm Ruchi Soya reported 13% decline in its net profit to ₹12.25 crore for the first quarter ended 30 June
NEW DELHI : Here’s a list of top ten stocks that may be in news on Thursday:
State Bank of India: India’s largest public sector bank will raise ₹8,931 crore ($1.19 billion) through 15-year bonds that comply with Basel III capital norms, according to a Bloomberg report. The notes carry a coupon of 6.80%, the lowest pricing on such debt issued by any lender since the country started implementing the stringent capital norms in 2013, data compiled by Bloomberg show.
Ruchi Soya Industries: Patanjali Group firm Ruchi Soya reported 13% decline in its net profit to ₹12.25 crore for the first quarter ended 30 June. Its net profit stood at ₹14.01 crore in the year-ago period. The company also announced the resignation of Acharya Balkrishna as its managing director.
IRCTC: The government will reduce its shareholding in Indian Railway Catering and Tourism Corporation (IRCTC) through an offer for sale, According to a report in The Economic Times. The department of investment and public asset management (Dipam) has invited bids from merchant bankers and brokers to divest part of the government's shareholding of 87.4% in the central public sector enterprise, which was listed on the stock exchanges last year.
DLF: Realty major DLF and US-based property player Hines have secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram.
PNB Housing Finance: The housing finance company will raise up to ₹1,800 crore equity capital through a preferential or rights issue. The decision was taken at its board meeting on Wednesday, PNB Housing Finance said in a regulatory filing.
Yes Bank: The private sector lender has exited CG Power & Industrial Solutions Ltd (CG Power) by selling its entire stake-holding in the company. Yes Bank has sold 6,34,00,000 equity shares having nominal value of ₹2 each, constituting 10.12 per cent of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing.
Bharti Airtel and Vodafone Idea: Telecom operators Bharti Airtel and Vodafone Idea are likely to file additional applications seeking spectrum for 5G trials in which they will not include Chinese vendors Huawei and ZTE, according to a PTI report.
L&T Finance Holdings: The company will raise up to ₹200 crore by issuing bonds, offering 8% interest to investors. "The Committee of Directors of the company today i.e., August 19, 2020, through a resolution passed...approved the offer and issuance of up to 2,000 unsecured, redeemable, non-convertible debentures (NCDs) aggregating to nominal amount of up to ₹200 crore on a private placement basis," L&T Finance Holdings said in a regulatory filing.
Adani Power: The company is in early discussions with OPG Power Ventures to acquire a 414-megawatt coal-fired plant near Chennai, according to a Mint report. The deal, if finalized, will likely be valued at ₹1,000-1,200 crore, it added.
ZEEL: The Bombay High Court has dismissed a plea by Yes Bank that sought preventing promoters of Zee Entertainment Enterprises Ltd (ZEEL) from further selling their shares in the company and stopping managing director Punit Goenka from leaving India. The court said the bank did not make a case for any relief and the entire suit was possibly "misconceived and misdirected".
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