With all the hustle starting this week, here’s a list of top trending stocks that you should watch out for this week-
- Axis Bank has now offered to obtain 17.002% of the equity share capital of Max Life, ending in complete control of 18% post the deal. The companies have achieved the ultimate negotiations. Earlier the plan for the Bank was to procure a 29.002% stake in Max Life.
- Allcargo Logistics promoter assembly has recommended to delist the equity shares on some bourses and receive stake possessed by the common stockholders. Promoters operate a 70.01% stake in the firm, while the public stockholders hold the spare 29.99% stake. The terminal proposal price will be settled through the reverse book building method as per SEBI guidelines. Promoters Shashi Kiran Shetty and Talentos Entertainment conveyed the delisting proposal line to the corporation on August 24. Committee to meet on August 27 to examine the delisting proposal.
- India Energy Exchange: Rajiv Srivastava has abdicated from the position of MD and CEO with effect from August 24. Satyanarayan Goel,non-executive chairman of the board has been granted an added charge of Managing Director & CEO of the Company, for an interim period with immediate effect.
- Indiabulls Housing Finance: The business recorded a 66% dip in net profit at ₹273 crores in the quarter closed in June, accompanied by essential provisioning compared to COVID-19. Indiabulls Housing Finance had inscribed a net gain of ₹802 crores in the corresponding quarter of the previous fiscal.
- CG Power: KKR India entities traded shares worth over ₹30 crores of CG Power and Industrial Solutions by open market transactions. KKR India Financial Services marketed 96,10,588 pieces of the firm at an ordinary rate of ₹16.85 each on the NSE. It also off-loaded 50,00,000 portions of CG Power at an average cost of ₹16.95 per stock on the BSE. KKR India Debt Opportunities Fund II retailed 34,64,021 shares.
- Union Bank: State-run Union Bank of India, which amalgamated Andhra Bank and Corporation Bank from April 1, proclaimed a standalone net value of ₹333 crores in the division ended June. The amalgamated being had engaged a profit-after-tax of ₹381 crores in the corresponding phase of the preceding fiscal.
- PNB: State-owned Punjab National Bank (PNB) announced a standalone net avail of ₹308 crores for the quarter closed in June despite as procurements for bad investments grew. The country’s second-largest moneylender had declared a net gain of ₹1,018.63 crores throughout the conterminous April-June period of 2019-20.
- Oil India: The nation’s second-largest state fuel and gas generator, logged following a quarterly decline in its antiquity in April-June after unrefined oil rates sank to lower than the price of composition. Oil India Ltd (OIL) had a clear loss of ₹248.61 crores in the initial quarter of 2020-21 fiscal as contrasted to a net profit of ₹624.80 crores in the equivalent time of the former financial year.
- Granules India: The US-based subsidiary of the pharma firm has obtained permission from the US health regulator for its Ramelteon tablets utilized for the prescription of insomnia.
- ICICI Lombard: ICICI Lombard General Insurance has declared engaging a conclusive settlement to obtain Bharti Enterprises, elevated Bharti AXA General Insurance in an all-stock purchase. The recommended ₹4,600-crore venture will launch ICICI Lombard General Insurance to convert it into the third-largest pro amongst non-life insurers.
- Bharti Airtel: Chairman Sunil Bharti Mittal mentioned at an uptick in mobile services charges in the following six months, saying that data at cheap rates are not sustainable for the telecom enterprise.
- MCX: Multi Commodity Exchange of India originated the country’s first bullion index Bulldex and traded 2,650 lots meriting Rs 215.10 crore in its primary negotiating concourse. The exchange intends to launch a slew of index-based prospects to augment its contributions after springing a bullion index.
- Bombay Burmah Trading, Bombay Dyeing: Wadia group companies Bombay Burmah Trading and The Bombay Dyeing & Manufacturing Co discussed inter-company and promoter holdings occurring rejigged. Promoter Nowrosjee Wadia & Sons purchased 1,45,000 shares of Bombay Burmah Trading Corp from The Bombay Dyeing & Manufacturing Co at Rs 1,463.20. Additionally, Bombay Burmah Trading Co acquired 30,00,000 pieces of Bombay Dyeing from Nowrosjee Wadia & Sons at Rs 71.20 each stake.
- Indian Energy Exchange (IEX): Rural Electrification Corp (REC) auctioned 25,00,000 parts of IEX at Rs 190 per share, while PPFAS Mutual Fund lapped up 24,84,686 stakes of the corporation at the equivalent rate. As of June deadline, REC secured a 4.1 percent stake in the firm.
- IRB Infrastructure Developers: Roadways developer IRB Infrastructure Developers promulgated a consolidated pure loss of Rs 30.13 crore for the quarter concluded June 30, amidst the Covid-19 pandemic. The company had measured a consolidated remuneration of Rs 206.62 crore in the identical quarter of the prior fiscal.
- Sadbhav Infrastructure: Norwest Venture Partners VII-A Mauritius bartered 1,19,00,000 stakes of Sadbhav Infrastructure Project at Rs 15.01 each piece, while Meena Ashwin Kothari acquired 27,00,000 parts of the corporation at Rs 15 per share. At the edge of June, Norwest Partners endured an 8.27 percent stake in the firm.
