Stocks to Watch: Check out the companies making headlines before the opening bell.
SBI Cards and Payment Services: SBI Card has received approval from the board of directors for its fundraising of Rs 2,500 crore. The company will raise funds by way of issuance of non-convertible debentures in one or more tranches, on a private placement basis.
HLE Glascoat: HLE Glascoat gets board approval for sub-division of shares. The company informed exchanges that the board has approved the sub-division of existing one equity share of face value of Rs 10 each, into fully paid-up five equity shares of Rs 2 each, and also fundraising up to Rs 350 crore.
NMDC: NMDC reduces iron ore prices. The state-owned mineral producer has fixed the price of lump ore at Rs 4,400 per tonne, and Fines at Rs 3,310 per tonne with effect from June 5, reduced significantly from Rs 5,500 per tonne and Rs 4,410 per tonne on May 25 this year. These prices are excluding royalty, DMF, NMET, cess, forest permit fee and other taxes.
Shriram City Union Finance: Promoters increase stake in Shriram City Union Finance. Promoters – Shriram Value Services and others acquired 13.5 lakh equity shares or 2.03 percent stake in the company via open market transactions. With this, their shareholding in the company stands increased to 36.34 percent, up from 34.31 percent earlier.
Pharmaids Pharmaceuticals: Promoter offloads stake in Pharmaids Pharmaceuticals. Promoter Sadhanala Venkata Rao sold a 6.98 percent stake in the company via open market transactions on June 6. With this, Rao’s shareholding in the company stands reduced to 15.41 percent, down from 22.39 percent earlier.
Dish TV India: Promoters cut stake in Dish TV India. Promoter entity World Crest Advisors LLP offloaded a 0.51 percent equity stake in the company via open market transactions. With this, its shareholding in the company stands reduced to 0.05 percent, down from 0.56 percent earlier. Another promoter Direct Media Distribution Ventures also sold a 1.53 percent stake in the company and reduced shareholding to 0.56 percent from 2.09 percent earlier.
RBL Bank: BofA Securities Europe SA buys additional shares in RBL Bank via bulk deals. BofA Securities Europe SA net acquired additional 25,63,334 equity shares in the company via open market transactions, at an average price of Rs 107.18 per share. BofA had held a 2.91 percent equity stake (1.74 crore shares) in the company as of March 2022.
Kanani Industries: Promoter cuts stake in Kanani Industries. Promoter Harshil Premjibhai Kanani sold 18,13,938 equity shares in the company via open market transactions on June 6, at an average price of Rs 26.5 per share. Harshil held a 63.63 percent stake (6.29 crore shares) in the company as of March 2022, while total promoters’ shareholding stood at 71.72 percent.
Moneycontrol News
