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💥 Morning Market News & Update
Stocks To Watch
🔸ICICI Bank: Launches QIP issue at Rs 351.36 per share. As per SEBI guidelines, it may offer a discount of not more than 5% on the floor price. The floor price is a 3.4% discount to Monday's closing. As per the term sheet accessed by Bloomberg, the bank looks to raise as much as Rs 15,000 crore between Rs 355-358 per share. The price range is a 1.5-2.3% discount to Monday's closing.
🔸Kotak Mahindra Bank: Stated in a press release that it has achieved compliance with promoter shareholding reduction requirement as per RBI’s directives, and within the timeline prescribed by the RBI.
🔸Hexware Technologies: De-listing proposal gets nod from public institutional shareholders. For public institutional shareholders, 92.64% of equity shares were voted on, out of which 95.69% voted in favour of de-listing the company while for public non-institutional shareholders, 18.97% of shares were voted on for which 60.85% votes were in favour of de-listing.
🔸InterGlobe Aviation: Board approved raising up to Rs 4,000 crore through an issue of equity shares by way of a QIP. The fund raise is subject to shareholder and regulatory approval.
🔸Titan: Forms a commodity trading unit called Titan Commodity Trading. It will register as a member of the commodity exchanges.
🔸Bank of Baroda: Overnight MCLR lowered by 15 basis points to 7% from August 12.
🔸Cupid: Gets received U.S. FDA approval for four additional variants of the company’s male contraceptives to market them in the U.S. market.
🔸Triveni Engineering: Board approves buyback of 61.9 lakh shares or 2.5% of the total equity worth Rs 65 crore. The buyback price of Rs 105 per share is a 48% premium to Monday's close. August 28 is the record date for the buyback.
🔸Gufic Biosciences: Entered into a loan license agreement with Hetero Labs to manufacture and supply Remdesivir Lyophilised Powder for injection on loan license basis to Hetero for its sale in various countries including India. Both afore-mentioned entities have a combined capacity of 50 million vials per annum.
🔸Prestige Estates Projects: Clarified that it regularly evaluates various opportunities for restructuring, investments or divestments in the course of its business.
🔸CSB Bank: Appointed Madhavan Aravamuthan as part-time chairman of the bank till June 2022.
🔸Bank of India: Board to consider raising capital via issue of share and bonds on August 13.
🔸Nifty Earnings Today: Adani Ports & SEZ
🔸Non-Nifty Earnings Today: Bajaj Electricals, Bosch, KRBL, Metropolis Healthcare, Minda Industries, Motherson Sumi, Prataap Snacks, RITES, RCF, Symphony #NIFTY50