Dena Bank stocks will be in focus as its has got board approval for dilution of government holding to up to 52 per cent and raise capital up to Rs 2,500 crore from various bonds. (Express photo)
The BSE Sensex and NSE Nifty are expected to open in negative terrain tracking global cues. The BSE Sensex closed 231.23 points down at 25,886.62, while Nifty50 index settled 67.20 points down at 7,864.15 on Thursday.
Below are the stocks that are likely to be in focus today:
Dena Bank: Public sector lender Dena Bank has got board approval for dilution of government holding to up to 52 per cent and raise capital up to Rs 2,500 crore from various bonds. “To raise equity capital of the Bank by diluting GOI holding up to 52 per cent, on obtaining necessary approval government,” the bank said in a BSE filing.
Aditya Birla Nuvo Ltd: Aditya Birla Group, the world’s largest viscose staple fibre (VSF) maker, is driving an initiative to handhold a large number of textile value-chain partners across the country by supporting them from design development and technical support to marketing and buyer linkages. With this initiative, the $41-billion company wants to help propel the country to be the world’s top cloth manufacturing hub.
Mastek Ltd: IT solutions company Mastek on Thursday said it will make no further investments towards development of ‘Veyo’, a platform built to help in conveyancing process.
SKS Microfinance: SKS Microfinance on Thursday said it has raised loan ticket size for one and two years of tenure to Rs 30,000 and Rs 50,000. The company has decided to revise the ticket size of loan to be extended to its borrowers with effect from December 7, 2015, it said in a regulatory filing.
Havells India Ltd: Foreign fund house Citigroup Global Markets Mauritius on Thursday offloaded 61 lakh shares of Havells India, an electrical and power distribution equipment firm, for over Rs 178 crore through an open market transaction. However, the buyer(s) of the shares could not be ascertained immediately.
Tech Mahindra: Tech Mahindra on Thursday said it will expand ‘Saral Rozgar’ service to the Middle East and Southeast Asia as it aims to provide jobs to over 100 million people over the next five years. Launched in 2014, Saral Rozgar was launched to connect people and employers for blue-collar and entry-level jobs in India. The platform has six million users.
Coal India: A total of 16 mining projects of Coal India have received green nod in the current fiscal, Parliament was informed on Thursday. The clearances come at a time when the government has set an ambitious one billion tonne production target for Coal India Ltd (CIL) in the next five years.
Dabur Ltd: Dabur has become the first major private Indian company to be hit by prevailing political tension in Nepal as the homegrown FMCG giant is expecting its juice sales to dip 10-15 per cent in October-November due to disruption of supplies from its plant in the Himalayan nation.
Apollo Tyres: Global carmakers and auto part manufacturers in India’s flood-hit southern city of Chennai are being forced to keep factory gates closed till Dec. 5 at least, which is likely to hit local sales and exports in coming months. Component maker Apollo Tyres will decide on Saturday whether to resume production, whereas BMW will keep a plant closed until Dec. 7, as heavy rains inundate the city’s streets limiting movement.
IDBI Bank: Fitch Ratings has assigned ‘stable’ grade to IDBI Bank’s $350 million green bonds. “Fitch Ratings has assigned India-based IDBI Bank’s (BBB-/stable) $350 million senior unsecured notes due November 2020 a final rating of BBB-,” Fitch Ratings said. The tenor of the issue is five years and the notes are issued by IDBI Bank’s Dubai International Financial Centre branch.
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