Stocks In the News: Check out the companies making the biggest headlines before the opening bell
Banks: Global ratings agency Moody’s changed the rating outlook of nine Indian banks to “stable” from “negative”. These lenders include Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Punjab National Bank, Export-Import Bank of India, State Bank of India (SBI) and Union Bank of India.
Bharti Airtel (Rights Entitlement): Blackrock India Equities Fund (Mauritius) sold 25,50,064 equity shares in the company at Rs 207.67 per share on the NSE, the bulk deals data showed.
Zee Entertainment Enterprises: The company has approached the National Company Law Appellate Tribunal (NCLAT) in a bid to stay the NCLT order which sought its reply on a plea moved by shareholder Invesco Developing Market Funds.
SREI Infra: Srei Group’s promoters have moved Bombay High Court against Reserve Bank of India’s action on Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd. Srei Group promoters have sought stay on any insolvency proceedings against the two companies. Srei Group promoters, Adisri commercial private ltd, has filed a writ petition in Bombay high court against the RBI action.
Titan Company: The company reported strong recovery in demand in Q2FY22. Jewellery business grew by 78% in Q2FY22 YoY and added 13 stores during the quarter, watches & wearables segment registered 73% YoY growth and eye wear business increased by 74 percent YoY in the same period.
GAIL India: Moody’s has affirmed the ratings of GAIL with revised outlook from Baa3 with Negative outlook to Baa3 Stable outlook.
Power Grid Corporation of India: Moody’s has affirmed rating on the company at Baa3 and changed the rating outlook to stable from negative.
PNB Housing Finance: The company joined hands with CSC e-Governance Services India, a strategic cornerstone of Digital India programme to provide last-mile home loan facilities to individuals living in tier 2 and 3 cities.
Ambuja Cements: Life Insurance Corporation of India acquired 3.99 crore equity shares in the company via open market transactions, increasing shareholding to 6.12% from 4.11% earlier.
Lupin: The company received tentative approval from US FDA for Brexpiprazole tablets.
Rail Vikas Nigam: The company has entered into an memorandum of understanding with Braithwaite & Co. Limited. The consortium will utilize the credentials of each other and execute the same utilizing the expertise of each other. The aim of this consortium will be to generate at least Rs 1,000 crore business per year under this umbrella.
NIIT: US-based Sutherland, a leading global digital transformation company, and StackRoute, an NIIT Venture, have entered a partnership to launch an immersive training program designed to identify the right talent and develop them as high-quality full stack IT professionals, handling critical roles at Sutherland.
Sobha: New sales grew by 50.6 percent to 13.48 lakh square feet in Q2FY22 against 8.9 lakh square feet in Q2FY21. Total sales value increased 50.9% to Rs 1,030.2 crore from Rs 689.9 crore in the same period. The company achieved best-ever quarterly sales volume of 13.5 lakh square feet of super built-up area and average cost of borrowing has further come down during the quarter.
Unitech: The Supreme Court ordered immediate suspension and a full-fledged probe against some Tihar Jail officials for conniving with the former promoters of the embattled company Unitech, following a report submitted by Delhi Police Commissioner Rakesh Asthana filed in a sealed cover.
Banswara Syntex: JK Jain resigned as Joint President and Chief Financial Officer of the company.
Nazara Technologies: The company raised Rs 315 crore from marquee institutional investors. The funds will be utilized to invest in growth initiatives of the company as well as pursue strategic acquisitions in the various business verticals of the company including gamified learning, freemium, skill based real money gaming and esports.
Greenpanel Industries: CARE revised credit rating on company’s long term bank facilities to A- from A and maintained stable outlook.
Orissa Minerals Development Company: Life Insurance Corporation of India sold 1.24 lakh equity shares in the company via open market transactions, reducing shareholding to 9.08% from 11.16% earlier.
Moneycontrol News