Stocks in the News (09 Sep):
AstraZeneca – There is a temporary hold on AstraZeneca’s COVID-19 vaccine candidate which is on late-stage studies as serious illness shown on a candidate. The company investigates whether a recipient’s “potentially unexplained” illness is a side effect of the shot.
Power Grid – On Tuesday Cabinet allowed state-owned power transmission company Power Grid Corporation of India (PGCIL) to monetise its assets by floating an Infrastructure Investment Trust (InvIT). This will make PGCIL the first such public sector utility in India to issue InvITs.
IRCTC – The government plans to sell about 15 to 20 per cent stake in IRCTC via offer for sale (OFS) and would like to complete the transaction in minimum number of tranches, according to media reports.
Indian Hume Pipe – Company has received Rs 134.82 crore (excluding GST) contract from Rural Water Supply & Sanitation, Odisha, for the work of execution of Rural Piped Water Supply Projects.
Texmaco Rail board approved issuance of equity shares of the company by way of preferntial issue to the promoters/promoter group to raise up to Rs 200 crore. Company reported loss at Rs 27.6 crore against profit at Rs 8.93 crore, revenue fell to Rs 218.4 crore versus Rs 392 crore YoY.
Strides Pharma Science – Societe Generale has bought 6,26,279 shares at an average price of Rs 612.
Motherson Sumi board had approved raising funds in the range of Rs 1,500 crore to Rs 3,000 crore through the issuance of NCDs on private placement basis.
GIC Re – General Insurance Corporation (GIC Re), recorded a pre-tax loss of Rs 811.22 crore in the Q1FY21, compared to a pre-tax profit of Rs 138.90 crore in the corresponding period of the previous year. In the previous quarter, the reinsurer had reported a pre-tax profit of Rs 1,101 crore.
TeamLease acquired an additional nearly 36.17% stake in Schoolguru.
Wipro announced plans to set up a Digital Innovation Hub in Düsseldorf, Germany.
Future Consumer reported a loss of Rs 68.37 crore in Q1FY21 against a loss of Rs 175.47 crore QoQ. Revenue from operations fell to Rs 380.5 crore against Rs 947 crore QoQ. Enam Finance sold 1 crore equity shares in company at Rs 10.13 per share on the NSE. Invoked pledge on 50.1 lakh shares held by promoter group entity Future Capital Investment.
Bharat Dynamics -Offer for sale will remain opened on September 9. DIPAM secretary said OFS subscribed 1.40 times by non-retail investors and the government has decided to exercise the green shoe option, reports CNBC-TV18.
Oil-related stocks – As the Saudi Arabia cut its October selling prices, Brent crude Tuesday slipped nearly 8%. Stocks of oil-marketing companies (OMCs), paint, aviation, and tyre companies may trade actively in today’s session.