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Stocks in news: PNB Housing Finance, YES Bank, Crompton Greaves, MMTC and more

Stocks in news: PNB Housing Finance, YES Bank, Crompton Greaves, Reliance Power, GAIL India, MMTC and more

twitter-logoBusinessToday.In | June 10, 2021 | Updated 10:04 IST
Stocks in news: PNB Housing Finance, YES Bank, Crompton Greaves, MMTC and more
Stocks in news: PNB Housing Finance, YES Bank, Crompton Greaves, Reliance Power, GAIL India, MMTC and more

Sensex and Nifty were likely to open higher today. On Wednesday, Sensex fell 334 points, tracking losses in index heavyweights such as Reliance Industries, ICICI Bank and L&T amid a weak trend in global markets. Sensex closed 333.93 points lower at 51,941 and Nifty slipped 104.75 points to 15,635. L&T was the top Sensex loser, falling around 1.80 per cent, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto.

Here's a look at stocks which are likely to remain in news today.

GAIL India: The state-owned gas utility reported a 28 per cent jump in March quarter net profit as petrochemical margins soared and gas marketing business turned around on rise in international prices. Net profit in January-March at Rs 1,907.67 crore is compared with Rs 1,487.33 crore net profit in the same period a year ago.

MMTC: The state owned distribution company's board has approved the debt restructuring scheme of the state-owned company which envisages settlement of dues out of the disinvestment proceeds of the Neelachal Ispat Nigam Limited (NINL).

Bata India: The shoemaker reported 23.3 per cent fall in consolidated net profit at Rs 29.47 crore for the fourth quarter ended March 31, 2021. The company had posted a net profit of Rs 38.40 crore in the year-ago period.

Tech Mahindra: The IT major is looking for acquisitions in Europe to upgrade its capabilities in various segments, including cloud computing, 5G, SAP and Salesforce softwares.

PNB Housing Finance: A proxy advisory firm has raised questions on PNB Housing Finance's decision to raise up to Rs 4,000 crore by way of preferential issue of shares instead of a rights issue, and termed it an "unfair transaction" which is against public shareholders as well as the promoter bank PNB.

Reliance Power: The board of Anil Ambani led company will consider a proposal to raise long term resources at its meeting scheduled for June 13. The company said funds are proposed to be raised by issue of equity shares/ equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method.

Crompton Greaves: Private equity firm Advent International Corp divested its entire 5.36 per cent stake in household appliances firm for a little over Rs 1,348 crore through multiple open market transactions.

YES Bank: The private lender's board will meet today to consider fund raising.

Bajaj Allianz Life Insurance: The insurer has declared bonuses worth  Rs 1,156 crore to its policyholders, including a special one-time bonus of  Rs 315 crore, over and above the regular bonus.

Shemaroo Entertainment: The firm's quarterly net profit stood at  Rs 22 million in Q4 , while net profit margin stood at 2.80%. The company's Ebitda stood at  Rs 111 million in March quarter 2021 compared to  Rs 31 million during the same period a year ago.

TeamLease Services: Net profit rose 182.42% in Q4 to  Rs 23.66 crore from  Rs 28.71 crore a year ago. EBITDA came at Rs 30.06 crore in March 2021 up 8.58% year-on-year.

Tata Motors:The company's board on June 14, 2021 will consider offering of Rated, Listed, Unsecured, Redeemable, Non- Convertible Debentures aggregating upto Rs 500 crore.

Coral India: Navin Bachubhai Doshi, promoter of the company, proposed to sell up to 18,67,170 equity shares of Coral India Finance & Housing. The floor price for the offer shall be Rs 35.

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