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    Stocks in the news: YES Bank, TCS, Cipla, NCC, ICICI Bank, IOC and SBI

    Synopsis

    TCS is scheduled to announce its June quarter earnings on Thursday.

    BCCL
    Private lender ICICI Bank said its board has approved plans to raise Rs 15,000 crore through a share sale.
    Nifty futures on the Singapore Exchange traded 37.5 points, or 0.35 per cent higher at 10,721, in signs that Dalal Street was headed for a positive start on Thursday. Here are a few stocks which may buzz the most in today's trade:

    YES Bank, State Bank of India: Top lender State Bank of India said it may invest up to Rs 1,760 crore in private lender YES Bank’s upcoming follow-on public offer (FPO). In an exchange filing, SBI said its executive committee of central board (ECCB) of state has accorded approval for a maximum investment of upto Rs. 1,760 crore in the YES Bank FPO.

    Cipla: Pharma major Cipla said it has launched its generic version of antiviral drug remdesivir at Rs 4,000 per vial, which is among the lowest globally, and is looking to supply over 80,000 vials within the first month.

    ICICI Bank: Private lender ICICI Bank said its board has approved plans to raise Rs 15,000 crore through a share sale. The lender said that its board has approved such fund raising in one or more tranches, through means such as private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof.

    Tata Consultancy Services: TCS is scheduled to announce its June quarter earnings on Thursday.

    Hindustan Construction Co, Sadbhav Engineering: These companies are slated to announce their March quarter earnings on Thursday.

    PI Industries: Agro chemical firm PI Industries said the company has fixed the issue price at Rs 1,470 per share, about 4 per cent lower than the floor rate, for sale of shares to institutional investors.

    Indian Oil Corporation: : Indian Oil Corporation, the nation's biggest oil firm, said with easing of lockdown restrictions, it has resumed work on projects worth Rs 1.04 lakh crore which will help address future energy demand as well as kickstart the economy.

    IRB Infrastructure Developer: The company said it has raised Rs 150 crore through allotment of NCDs on a private placement basis.

    NMDC: The Bailadila iron ore mining projects of NMDC at Chhattisgarh recorded a five per cent increase in production in June this year at 18.61 lakh tonnes, compared to 17.72 lakh tonnes in the same period last year, despite lockdown, the company said on Wednesday.

    V2 Retail: The company has settled its payment-related dispute with an operational creditor and expects to come out of the insolvency proceedings, according to Ram Chandra Agarwal, the Chairman of the suspended board of the company.

    NCC: The company said it has won five contracts worth Rs 1,396 crore in June. All the orders pertain to its water division, it added.

    South Indian Bank: The lender reported a 11 per cent rise in net profit at Rs 82 crore in June quarter of the current fiscal year. The private sector lender had posted a net profit of Rs 73 crore in the corresponding quarter of fiscal year 2019-20.

    Sterling and Wilson Solar: The company said its board has asked company promoters to provide necessary security in respect of default on the loan installment of Rs 500 crore that was due on June 30.

    TCI Express: The logistics services provider said its operations have been severely impacted on account of the Covid-19 outbreak and it expects its profitability to be hit in June quarter.

    Tejas Networks: Kedia Securities bought 7,53,925 shares of Tejas Networks at Rs 49.13 per share.

    Aditya Birla Fashion: Invesco India Contra Fund sold 4,74,202 of Aditya Birla Fashion Rights Entitlement at Rs 23 each, while Ms Param Value Investments bought 5,00,000 of these Rights Entitlements.


    Bank of Maharashtra: State-owned Bank of Maharashtra on Wednesday said it has sanctioned Rs 2,779 crore to micro, small and medium enterprises (MSMEs) under various schemes since March.

    Piramal Enterprises: Piramal Enterprises raised Rs 14,500 crore through various measures in the last financial year helping the company deleverage its balance sheet, according to the company's Annual Report for 2019-20.




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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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