Stocks to Watch: Check out the companies making headlines before the opening bell.
Ujjivan Small Finance Bank | The company said the board will on June 8 consider the proposal for raising of funds by way of issuance of debt securities on a private placement basis, in one or more tranches.
RattanIndia Power | Vibhav Agarwal has resigned as the managing director of the company due to his personal reasons. Hence, he also ceased to be the Key Managerial Personnel of the company on June 3. Asim Kumar De, whole-time director of the company, has been assigned additional responsibilities to discharge the functions which were earlier with managing director, for an interim period, till the time a new managing director is appointed by the company.
Vedanta | The company in a BSE filing said its board of directors has approved raising of up to Rs 4,089 crore through subscription of up to 40,890 non-convertible debentures (NCDs) of a face value Rs 10 lakh each, on a private placement basis. The tenure of the instrument is 10 years from the deemed date of allotment, till date of maturity.
V-Guard Industries | SBI Mutual Fund, through its several schemes, acquired 59,171 equity shares in the company through open market transactions on June 2. With this, its shareholding in the company stands increased to 9.04 percent, up from 9.027 percent earlier.
Poonawala Fincorp | Sebi has revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of Magma Fincorp (which is now known as Poonawalla Fincorp). After conducting a detailed investigation in the matter, Sebi found that “Abhay Bhutada had not communicated UPSI (unpublished price sensitive information)”.
Punjab & Sind Bank | The Reserve Bank of India has imposed a monetary penalty of Rs 27.50 lakh on the bank on account of its failure to comply with certain directions issued by the regulator on ‘External Benchmark Based Lending’.
Prudent Corporate Advisory Services | Promoter group Niketa Sanjay Shah and PACs acquired 2.6 lakh equity shares in the company through open market transactions on June 3. With this, the promoter shareholding in the company stands increased to 58.44 percent, up from 57.81 percent earlier.
Adani Transmission | The company has signed a share purchase agreement with Essar Power to acquire its 100 percent stake in Essar Power Transmission Company (EPTCL). The acquisition is in line with the company’s value added growth strategy through organic as well as inorganic growth opportunities. The deal is pegged at Rs 1,913 crore.
Hemisphere Properties India | The company has invited Expression of Interest for farm house plots on land parcel in Chattarpur, New Delhi.
PNB Gilts | Swarup Kumar Saha has resigned as the non-executive and non-independent director and chairman of the company, due to ‘ his elevation as managing director and CEO of PNB Gilts Limited. He will cease to be the executive director of Punjab National Bank.
Bright Brothers | The company has proposed to set up two manufacturing units to cater to its existing customers. It will set up one unit in Haridwar – State Infrastructure and Industrial Development Corporation Uttarakhand Ltd, and second in Hosur – State Industries Promotion Corporation of Tamil Nadu (SIPCOT). These manufacturing units would also have capacity to enhance its production to cater to its new customers.
Savita Oil Technologies | The company in a BSE filing said its board will on June 21 consider a sub-division of equity shares of the company.
Man Infraconstruction | MICL Bayshore, LLC, a joint venture entity of MICL Global, Inc has executed a LLC Agreement of 551 Bayshore Partners LLC. They will develop luxury condominium project at Fort Lauderdale Beach, Florida, USA. MICL Global, Inc is a subsidiary of Man Infra.
Valiant Organics | The company informed the exchanges about an incidence of blast in reactor in chlorination section of its plant at GIDC, Sarigam, Gujarat. The incident has taken place on June 3. There has been no loss to human life, however, minor injury reported to one person, who is under medical treatment.
Moneycontrol News
