Nestle India, UltraTech Cement: IDBI Bank, Nestle India, UltraTech Cement, IDFC First Bank, Hexaware, Tata Coffee and 3i Infotech are among companies that are scheduled to announce their June quarter earnings during the day.
Mahindra Finance: Non-banking financial company
Mahindra
Finance said its Rs 3,088.82 crore rights issue will open for subscription on July 28. The company will issue 61.78 crore equity shares of face value of Rs 2 each (equity shares) at a price of Rs 50 per equity share aggregating to Rs 3,088.82 crore on a rights basis, a company release said.
IndusInd Bank: The bank is likely to announce a fund raise of nearly $400-500 million post its board meeting on Tuesday, two people aware with the development said. US-based hedge fund Route One Investment Company (ROIC) could be the anchor investor, chipping in nearly half of the total fund raise.
ITC: Diversified business entity ITC announced acquisition of spices manufacturer Sunrise Foods Private Ltd (SFPL) in an all-cash deal valued at Rs 2,150 crore. According to the company, it has acquired shares of SFPL at an “upfront consideration of Rs 2,150 crores on a cash-free, debt-free basis”.
SBI, YES Bank: SBI on Monday said its holding in Yes Bank has come down to 30 per cent after the follow on public offer (FPO). Prior to the FPO, SBI holding in Yes Bank stood at 48.21 per cent, the country’s largest lender said in regulatory filing.
Adani Enterprises: The company said it has entered into a non-binding pact with the Tamil Nadu govt for exploring possibilities to set up a hyperscale data centre in the state.
Bharti Infratel: Telecom tower company Bharti Infratel posted a 21 per cent on year fall in net profit, hurt by a fall in sharing revenue and higher net finance cost. Net profit though was up 8.3 per cent sequentially.
Tech Mahindra: IT firm Tech Mahindra managed to beat estimates as it reported a flat net profit in the quarter ended June which was marked with coronavirus pandemic, and said it was witnessing digital transformation across the globe, and was well-positioned to capture opportunities.
Maruti Suzuki: The automaker, which has witnessed a significant jump in online enquiries, plans to offer fully-digitised financing options for car buyers, PTI said citing a senior company executive.
Vodafone Idea: Telecom operator Voda Idea’s IT vendor Amdocs on Monday said that it has completed consolidation of postpaid customers of Idea and Vodafone on a single platform to manage their accounts and services.
Indian Oil Corporation: The oil company and French energy giant Total have set up an equal joint venture to manufacture and market bitumen derivatives and specialty products for the Indian road-building industry.
United Spirits: The company said revenues declined 46% to Rs 3828.5 crore for the first quarter ended June, impacted by Covid-19 led…
Read More: Stocks in the news: Nestle India, UltraTech Cement, Mahindra Finance, ITC,
