Indilens ! Live Daily News on India Insights of India
Nifty futures on the Singapore Exchange traded 76.5 point, or 0.69 per cent higher at 11,195, in signs that Dalal Street was headed for a positive start on Tuesday. Here are a few stocks which may buzz the most in today’s trade:
Nestle India, UltraTech Cement NSE 5.10 %: IDBI Bank, Nestle India, UltraTech Cement, IDFC First Bank, Hexaware, Tata Coffee and 3i Infotech are among companies that are scheduled to announce their June quarter earnings during the day.
Mahindra Finance: Non-banking financial company Mahindra Finance said its Rs 3,088.82 crore rights issue will open for subscription on July 28. The company will issue 61.78 crore equity shares of face value of Rs 2 each (equity shares) at a price of Rs 50 per equity share aggregating to Rs 3,088.82 crore on a rights basis, a company release said.
IndusInd Bank: The bank is likely to announce a fund raise of nearly $400-500 million post its board meeting on Tuesday, two people aware with the development said. US-based hedge fund Route One Investment Company (ROIC) could be the anchor investor, chipping in nearly half of the total fund raise.
ITC: Diversified business entity ITC announced acquisition of spices manufacturer Sunrise Foods Private Ltd (SFPL) in an all-cash deal valued at Rs 2,150 crore. According to the company, it has acquired shares of SFPL at an “upfront consideration of Rs 2,150 crores on a cash-free, debt-free basis”.
SBI, YES Bank NSE -5.28 %: State Bank of India on Monday said its holding in Yes Bank has come down to 30 per cent after the follow on public offer (FPO). Prior to the FPO, SBI holding in Yes Bank stood at 48.21 per cent, the country’s largest lender said in regulatory filing.
Adani Enterprises: The company said it has entered into a non-binding pact with the Tamil Nadu government for exploring possibilities to set up a hyperscale data centre in the state.
Tech Mahindra: IT firm Tech Mahindra managed to beat estimates as it reported a flat net profit in the quarter ended June which was marked with Covid-19 pandemic, and said it was witnessing digital transformation across the globe, and was well-positioned to capture opportunities.
Maruti Suzuki: The automaker, which has witnessed a significant jump in online enquiries, plans to offer fully-digitised financing options for car buyers, PTI said citing a senior company executive.
Indian Oil Corporation: The oil company and French energy giant Total have set up an equal joint venture to manufacture and market bitumen derivatives and specialty products for the Indian road-building industry.
Hindustan Media Ventures: The media company reported a 73.51 per cent decline in its consolidated net profit to Rs 10.28 crore for the quarter ended on June 30, due to lower income.
Havells India: The company reported a 63.90 per cent fall in its consolidated net profit to Rs 63.98 crore for the June quarter due to lower income.
Orient Electric: CK Birla group firm Orient Electric on Monday reported a net loss of Rs 27.29 crore in the first quarter ended June 30 hit by the coronavirus pandemic induced lockdown.
Ashok Leyland: Hinduja Group’s flagship Ashok Leyland on Monday expanded its digital solutions, Digital Marketplace for commercial vehicles and also showcased the next generation solutions DigitAL Nxt.
Kotak Mahindra Bank: The private lender reported a four per cent decline in consolidated net profit at Rs 1,853 crore for the June quarter, mainly due to reduced advances amid the coronaviru ..
