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Stocks in the News (27 Aug):
Hindustan Aeronautics
(HAL) – The government plans to sell as much as 15% stake in the company
through a public offering of shares, via offer for sale (OFS). The floor price
for the offer has been fixed at Rs 1,001 per equity share of the company.
Gillette India:
Net profit declined 1.86% to Rs 44.97 crore in the quarter ended June 2020 as
against Rs 45.82 crore during the previous quarter ended June 2019. Total
income declined to Rs 352.74 crore from Rs 466.39 crore a year ago. The company
follows July-June financial year.
Future Enterprises
– The company board will meet on Saturday to take a call on raising of funds by
way of issuance of bonds. According to sources, the board would also look at
the proposal to merge three other listed entities of the Future group with FEL.
Indraprastha Gas
(IGL) reported an 85.6% drop in its consolidated net profit at Rs 35.18
crore for the quarter ended June 2020.
Siemens -: The
company Board has approved to sell the Company’s Mechanical Drives business
(“MD Business”) (included in Portfolio Companies Segment) to a subsidiary of
Siemens AG, Germany (“SAG”).
Jindal Stainless
– The Company board has approved raising
funds through issue of convertible equity warrants for an amount up to Rs
162.80 crore on preferential basis.
Mahindra &
Mahindra and REE Automotive Limited (‘REE’) have signed a Non-Binding
Memorandum of Understanding (‘MOU’) to explore development and manufacturing of
electric commercial vehicles using REE’s corner module technology and the
Company’s vehicle design, engineering, sourcing capability and manufacturing
assets.
Bank of India plans
to raise up to Rs 16,000 crore through issuance of shares and bonds.
Allcargo Logistics –
The board of directors will meet on August 27 to consider and approve the
voluntary delisting of shares.
Telecom stocks: Reduction
in subscriber base was recorded in the mobile telephony segment in May, with Bharti
Airtel losing over 4.74 million subscribers and Vodafone Idea losing 4.72 million taking their respective
subscriber base to 317.8 million and over 309.9 million, while Reliance Jio continued adding subscribers to
its base, with over 3.65 million user additions during the month, taking its
total tally to 392.7 million users.
Real estate companies
– In a major boost to the real estate sector in the state, Maharashtra
government on Wednesday announced a cut in stamp duty and other levies for
buying and selling of properties in urban and rural areas.
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