Updated : 2019-12-04 07:41:51
Indian markets are likely to open lower on Wednesday tracking weak trend in global peers. At 7:00 am, the SGX Nifty was trading 45 points or 0.37 percent lower at 12,006.00, indicating a mildly negative start for the Sensex and Nifty50.
PSU banks: The finance ministry said that state-run lenders disbursed a record Rs 4.91 lakh crore worth of loans in the October-November period as part of an outreach programme directed by the ministry. Banks disbursed loans worth Rs 2.39 lakh crore in November on top of Rs 2.52 lakh crore in October. In these two months, the public-sector banks provided loans of Rs 72,985 crore to the MSME sector while advances to companies, including the large ones, stood at Rs 2.2 lakh crore. (Image: Reuters)
HDFC Asset Management Company: Standard Life Investments Ltd, one of the promoters of HDFC AMC has proposed to sell up to 47.5 lakh equity shares, representing 2.23 percent stake of HDFC AMC through offer-for-sale at floor price of Rs 3,170 per share. Besides, there will be an option to additionally sell up to 38.5 lakh equity shares, amounting to 1.81 per cent stake of the fund house. The stake-sale will be conducted on the BSE and NSE on December 4 for institutional investors and December 5 for retail investors.
Bajaj Finance Ltd: The company said that its current exposure to Karvy Stock Broking Ltd (KSBL) as at December 2, 2019 is approximately Rs 312 crore, which was against the pledge of listed shares. The Securities Appellate Tribunal (SAT) has directed market regulator the Securities and Exchange Board of India (Sebi) to grant a personal hearing to the company and has also suspended any transfer of remaining securities from DP account of KSBL, it added.
Nestle India: The company on Tuesday declared an interim dividend of Rs 55 per share for 2019.
CSB Bank: The bank will get listed on the stock exchanges at a final issue price of Rs 195 per share on Wednesday.
Mahindra & Mahindra Ltd: The automaker launched its first BS-VI compliant vehicle in the form of its compact SUV XUV300 with price ranging from Rs 8.30 lakh to Rs 11.84 lakh. The BS-VI version of the XUV300 will be available on all its 1.2 litre turbo petrol offerings, M&M said in a statement.
Eris Lifesciences: The drugmaker said that it has acquired the trademark for anti-diabetes drug Zomelis from Novartis , for a consideration of $13 million. Eris added that it will start selling the product in the Indian market from December 10 onwards.
Lincoln Pharmaceuticals Ltd: The company said that it will consider and approve the scheme of amalgamation with Lincoln Parenteral.
Jaypee Infratech: NBCC and Mumbai-based Suraksha Realty submitted their final resolution plans to acquire embattled Jaypee Infratech in an ongoing resolution process, Moneycontrol reported. The final bids would be taken up at the next Committee of Creditors meeting scheduled for December 7, the report added quoting people aware of the development. (Image: Reuters)
Crompton Greaves Consumer Electricals: SBI Mutual Fund bought 3 crore shares of the company through a bulk deal on BSE on December 3 at an average price of Rs 249.20 per share. The cumulative value of the deal stands at about Rs 750 crore.