Stocks in the news: Check out the companies making the biggest headlines before the opening bell.
Results on July 8 | Tata Consultancy Services, Gammon Infrastructure Projects, and Shyam Metalics and Energy will release quarterly earnings July 8.
Banks in focus: The Reserve Bank of India (RBI) on July 7 imposed monetary penalties on 14 banks including Bandhan Bank, Bank of Baroda and State Bank of India for various rule violations, the central bank said in a press release. These 14 banks include public sector banks, private banks, foreign bank, Co-operative banks and one small finance bank.
PNB Housing Finance: PNB has asked housing finance arm to restructure Rs 4,000 crore capital infusion deal. The letter from the bank said “the board of directors of the company should take cognizance of the directive issued by Sebi vide their letter dated June 18, 2021 and reconsider restructuring the contours of the deal/transaction of the capital raising in line with such Sebi directive,” PNB Housing said in the filing. Sebi had asked the company for revaluation of the issue price for the Rs 4,000 crore preference shares and warrants to be issued to the proposed investors at Rs 390 a piece. Following PNB’s letter, the board of the housing finance firm, by a majority resolution passed on July 6, decided that since the issue relates to interpretation of law and is sub-judice before the Securities Appellate Tribunal, it will await SAT’s order on the matter.
Dhani Services | Tamarind Capital Pte Ltd sold 69 lakh equity shares in the company at Rs 182.85 per share on the NSE, the bulk deals data showed.
HG Infra Engineering | Employees Retirement System of Texas – Self Managed Portfolio bought 4,26,311 equity shares in the company at Rs 472.23 per share on the NSE, th ebulk deals data showed.
Ujjivan Financial Services | Aberdeen Global Asian Smaller Companies Fund sold 10,05,335 equity shares in the company at Rs 203.83 per share on the NSE, the bulk deals data showed.
Shree Cement | CARE reaffirmed rating of the company at A1+.
Angel Broking | ICICI Prudential Asset Management Company sold 0.09 percent equity stake in the company via open market sale on July 5, reducing shareholding to 3.03 percent from 3.11 percent earlier.
KPR Mill | The company will consider the proposal for sub-division of the face value of the equity shares on July 27.
Hindustan Oil Exploration | HDFC sold 2.46 percent equity stake in the company, reducing shareholding to 8.75 percent from 11.21 percent earlier.
Zuari Global | The company has acquired 13.19 percent shares of Forte Furniture Products India from Indian Furniture Products (IFPL) subsidiary of the company.
Bajaj Healthcare | The company received license from Defence Research and Development Organisation (DRDO) to manufacture and market ‘2-Deoxy-D-Glucose’ (2-DG), used in control & treatment of Covid-19.
RailTel Corporation of India | The company has received a work order amounting to Rs 23.43 crore (excluding GST) from Sagar Cable Network towards providing of multicast drop and carry with 1.5G capacity at 66 locations for a period of 5 years.
Garware Hi-Tech Films | CARE has upgraded its rating and outlook regarding the bank facilities of the company, to A+/Stable, from A/Positive.
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