Stocks To Watch

Stocks to watch in trade today:

HDFC has launched QIP issue at a floor price of Rs 1,838.94 per share, which is at a premium of 4% to the closing prices as on Aug.5. Rs 14,000 crore to be raised via issue equity and warrants and Rs 9,000 crore via NCDs. Board is scheduled to meet on Aug. 10 to consider the date of closing QIP and issue price for sale. As per SEBI regulation, company may offer a discount of not more than 5% on the floor price.

Xchanging Solutions to meet on Aug.13 to consider delisting offer. Company received letter of intention to delist shares in exchanges by promoter DXC Technologies. Promoters to acquire the remaining 25% stake in the company. They currently hold 75% stake. Company had a market capitalization of Rs 605 crore as on Aug.5. and belongs to business outsourcing and processing industry.

Inox Leisure: Board has approved the enabling resolution for fund raising up to Rs 250 crore through the issuance of equity shares/other securities.

Bharti Airtel: Telecom Kenya has opted out of proposed Airtel’s network merger. (Bloomberg News)

National Fertilizers Q1FY21 sales up 20% at 18.79 lakh MT,Urea sales up 17% at 15.87 lakh MT.

VIP Industries: Board approved issue of NCDs worth Rs 50 crore on a private placement basis.

Punjab and Sind Bank: NPA account worth Rs 32.84 crore with SEW LSY Highways has been declared a fraud and reported to RBI.

Cera Sanitaryware to discontinue its business operations of its Dubai arm. Expected date of closure is Feb. 2021. This entity contributed 0.2% of the total turnover of the company.

Canara Bank said in a press release that it has 22.7% loan book under moratorium.

Alkem Laboratories has launched Favipiravir under the brand name “Alfluenza”.

Apollo Tyres: Board approved issue of NCDs worth Rs 1,000 crore to issue convertible preference shares up to Rs 540 crore to Emerald Sage Investment.

Adani Gas: CEO Suresh Manglani said that the Total-Adani Gas venture will apply for India’s fuel retail licensing in company’s conference call.

GOCL Corporation: Board approved to seek shareholders nod for raising of further capital/ resources in the form of debt, convertible debt or equity by way of various means such as QIPs, issue of ADRs/GDRs, etc up to $150 million.

South Indian Bank: RBI has given in-principle approval for setting up of a wholly owned non-financial arm for undertaking activities permitted by RBI.

Eveready Industries: India Ratings and Research has upgraded the company’s long term credit ratings to ‘IND BB+’ from ‘IND BB’. The outlook has been changed to positive.

InterGlobe Aviation to consider raising funds on Aug.10