New Delhi: Here’s a list of top stocks that may be in News on Tuesday:
RBL Bank: The private sector lender, in a filing to the stock exchanges on Monday, said it will raise funds from institutional investors through a qualified institutional placement offering (QIP). RBL said its board has approved a floor price of ₹352.57 apiece for the share sale. The lender aims to raise up to ₹2,000 crore through the QIP.
Yes Bank: The private sector lender on Monday filed an insolvency petition against Jaypee Healthcare before the Allahabad bench of National Company Law Tribunal (NCLT). Yes Bank has claims worth ₹189.4 crore against Jaypee Infratech which is the promoter company of Jaypee Healthcare.
United Spirits: Diageo-controlled United Spirits Limited (USL), India’s largest liquor firm, has proposed a merger with its majority owned and listed subsidiary Pioneer Distilleries Limited (PDL), the company said a filing to the stock exchanges. The amalgamation scheme is now subject to the receipt of requisite approvals from the relevant statutory authorities.
DHFL: The Mumbai bench of the National Company Law Tribunal on Monday admitted Reserve Bank of India’s (RBI) petition seeking bankruptcy proceedings against Dewan Housing Finance Limited (DHFL). The RBI on Friday made an application for bankruptcy proceedings to resolve the credit and liquidity crisis at the company.
Bharti Airtel and Vodafone Idea: Telecom shares, led by Bharti Airtel Ltd, were lapped up in Monday’s trade as investors cheered Sunday’s announcement of hike in pre-paid tariffs. While the Sensex ended flat on Monday, Airtel hit a 52-week high of ₹485.75, Vodafone Idea closed 14% up at ₹7.79 from its BSE close on Friday. The increased tariff plans of both the telecom operators will come into effect today.
Jaypee Infratech: State owned NBCC and Suraksha Realty will submit their final bids today to acquire insolvent Jaypee Infra’s realty projects. While NBCC may offer more land and reduce the timeline for completion of about 20,000 flats, Suraksha Realty is likely to increase the upfront payment to lenders in the final bid.
Bank of Baroda: The board of directors of the bank will meet on 5 December to consider raising capital funds through the issue of capital debt instruments, it said in a filing with stock exchanges.
Bajaj Finance: Bajaj Finance has moved the Securities Appellate Tribunal (SAT) against the Securities and Exchange Board of India’s (Sebi) order barring Karvy Stock Broking from taking new clients in respect of its stock broking activities and also prevented it from using the PoA (power of attorney) given by clients after the broker was found to have allegedly misused clients’ securities, according to a report published in The Economic Times.
Raymond: In a bid to address concerns raised by investors, Raymond group’s demerged lifestyle business will own the Raymond brand for textile, apparel and retail categories. With this modification in the policy, Raymond Lifestyle business will not be required to pay a royalty to the parent Raymond Ltd.
Biocon Ltd: Biocon Ltd and its partner Mylan have announced the much-awaited launch of their biosimilar to oncology drug trastuzumab in the US under the brand Ogivri. The drug helps treat breast cancer and metastatic stomach.