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    Stocks in the news: Bajaj Finance, STFC, Max Financial, Suzlon, TCS and Apollo Tyres

    Synopsis

    STFC said the company's securities issuance committee has given its go-ahead to rights issue.

    Stock market 3 - GettyGetty Images
    JP Morgan Funds on Monday bought TCS shares worth nearly Rs 247 crore through open market transaction.
    Nifty futures on the Singapore Exchange traded 38.5 points, or 0.36 per cent lower at 10,727.50 in signs that Dalal Street was headed for a negative start on Tuesday. Here are a few stocks which may buzz the most in today's trade:

    Shriram Transport Finance Co: STFC said the company's securities issuance committee has given its go-ahead to rights issue of equity shares to the promoters and promoter group to raise up to Rs 1,500 crore.

    Suzlon Energy: The company posted a consolidated net loss of Rs 834.22 crore for the March quarter mainly due to lower revenues and high finance cost. The consolidated net loss of the company was Rs 294.64 crore in the quarter ended on March 31, 2019.

    TCS: JP Morgan Funds on Monday bought TCS shares worth nearly Rs 247 crore through open market transaction. The block deal data on BSE showed that JP Morgan Funds bought over 11.23 lakh shares of TCS at an average price of Rs 2,199 apiece, and the total deal value stood at Rs 246.98 crore.

    NBCC: The state-owned reported a 41 per cent decline in net profit at Rs 83.77 crore for the quarter ended March. Its net profit stood at Rs 142.45 crore in the year-ago period, the company said in a regulatory filing.

    Snowman Logistics: Adani Logistics and Gateway Distriparks said they have resolved their dispute over sale of controlling stake in Snowman Logistics. Further, Adani Logistics will continue as a minority shareholder with 26 per cent stake in Snowman Logistics.

    PNB: The state-owned said its board will consider a proposal to raise capital through a mix of both equity and debt on July 9.

    Indiabulls Housing Finance: The HFC will convene an extraordinary general meeting (EGM) on July 29 to seek shareholders' approval to raise up to USD 300 million by issuing securities through QIP or FCCB.

    Manappuram Finance: The NBFC said it will raise up to Rs 300 crore by issuing bonds on a private placement basis.

    Torrent Power: The power company said it has raised Rs 300 crore by issuing non-convertible debentures on private placement basis.

    Max Financial Services: IDBI Trusteeship Services Ltd (ITSL) has sold 12.5 lakh equity shares of Max Financial Services through an open market sale.

    Apollo Tyres: The company has decided to cut its capital expenditure (capex) by Rs 400 crore this fiscal amid a challenging business environment due to the coronavirus pandemic, according to a senior company official.

    eClerx Services: Knowledge Process Outsourcing (KPO) services provider eClerx Services on Monday said its board has approved a buyback programme worth up to Rs 109.5 crore.

    Bajaj Finance: The NBFC said it may consider additional accelerated provisioning for Covid-19 in the first quarter of fiscal year 2021 to further strengthen its balance sheet.

    Shree Renuka Sugar, GKB OPhthalmics, KG Petrochem: These companies are scheduled to announce their March quarter earnings on Tuesday.

    Adani Transmission, Kalpataru Power: The company said that it has entered into agreements with Kalpataru Power Transmission Limited (KPTL) for acquisition of Alipurduar Transmission Limited (APTL). The company will buy the transmission subsidiary from Kalpataru Power Transmission for an enterprise value of Rs 1,286 crore, Adani Transmission said in an exchange filing.




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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