Stocks to Watch: Authum Investment, HDFC Bank, ICICI Bank, PNB Housing, RIL – Mint

Authum Investment & Infrastructure Ltd: Authum Investment & Infrastructure has received a letter of interest for the acquisition of stressed non-bank lender Reliance Home Finance Ltd’s (RHFL) assets from the latter lead creditor.

HDFC Bank: The lender’s board has approved the purchase of more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over ₹1,906 crore from the parent company Housing Development Finance Corp. Ltd (HDFC).

ICICI Bank: S&P Global Ratings has revised its rating outlook on ICICI Bank Ltd to stable from negative. The rating agency also affirmed ‘BBB-‘ long-term and ‘A-3’ short-term issuer credit ratings and ‘BBB-‘ long-term issue rating on senior notes.

Karnataka Bank: The bank has reported to the Reserve Bank regarding frauds in the credit facilities extended earlier to two listed companies—Reliance Home Finance with loan outstanding of ₹21.94 crore and Reliance Commercial Finance ₹138.41 crore as fraud, Karnataka Bank said in a regulatory filing.

NTPC Ltd: The company reported that its standalone net profit for the quarter ended 31 March 2021 soared 258% to ₹4,479 crore. The company had posted a profit of ₹1,252 crore in the year-ago period. NTPC’s revenue in the said quarter was down 2.5% to ₹26,567 crore as against ₹27,247 crore in the year-ago period.

Bharat Petroleum Corporation Ltd: The commerce and industry ministry has floated a draft cabinet note seeking views on a proposal to allow up to 100% foreign investment under automatic route in oil and gas PSUs, which have an ‘in-principle’ approval for disinvestment, people familiar with the matter said. If approved, this could facilitate privatisation of Bharat Petroleum Corp Ltd (BPCL).

PNB Housing: Markets regulator Securities and Exchange Board of India (Sebi) has asked mortgage lender PNB Housing Finance to temporarily halt its proposed share sale programme. Investors led by Carlyle Group announced an investment of ₹4,000 crore in PNB Housing Finance.

Reliance Industries Ltd: The company may update investors about the proposed stake sale in its oil-to-chemical (O2C) business to Saudi Aramco and the Jio-Google phone at the annual meeting on 24 June, analysts said. Investors are awaiting an announcement on the pricing and launch timeline of the Jio-Google phone.

SBI Card: CA Rover Holdings, an arm of private equity giant, Carlyle on Friday sold 48 million shares or 5.1% stake of SBI Cards and Payment Services for ₹4,811 crore in a bulk deal. According to the data available on the exchange, CA Rover Holdings sold 37. 42 million shares at an average price ₹1,002.20 aggregating to ₹3,750 crore on NSE and sold 10.58 million shares at ₹1,002.64 totalling ₹1,061.16 crore.

Vodafone Idea: The company Vodafone Idea is eyeing a ₹5,000-7,000 crore fundraise via QIPs, according to Redbox India. The telco may received the Department of Telecom’s nod for the fundraise soon.