STOCKS ON RADAR:
BHEL: BHEL buyback offer opens today. The State-owned power equipment maker plans to buy back 18.93 crore shares, which is 5.16 per cent of the paid-up equity capital of the company. The Rs 1,628-crore buyback offer at Rs 86 a share from BHEL opens on December 13 and closes on December 27.
Yes Bank: The Company?s board meeting is scheduled to be held on December 13 to consider the appointment of new Chairman and also consider appointment of two independent directors.
Punjab & Sind Bank: The banks will raise equity via QIP upto Rs 5 billion and issue bonds worth Rs 15 billion in next 12 months. To issue five crore equity shares to employees.
IOC: The board of directors of Indian Oil Corporation will meet on Thursday to consider buyback of fully paid-up equity shares of the company, and declaration of an interim dividend for the financial year 2018-19. It may be recalled that the PSU oil company in March had rewarded its shareholders with a 1:1 bonus issue. Besides payout details, shareholders will also eye the issue size, price and mode (through open market purchase or tender route) of the buyback.
Lupin: Drug maker Lupin said a court in Europe has upheld a decision to impose a fine of 40 million euros (over Rs 325 crore) on the company by European Commission (EC) in a litigation over blood pressure lowering drug Perindopril.
Sun Pharma: The drug major?s Taro has received tentative ANDA approval for Dapsone by the USFDA.