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Stocks to Watch: Canara Bank, Tata Steel, HAL, HDFC Bank, Future Retail – Mint

NEW DELHI: Here are top 10 stocks that may be in the news today.

Canara Bank: The bank has approved the opening of a qualified institutional placement (QIP) of shares of face value 10 each on Tuesday. The floor price for the QIP has been set at 155.58 per equity share. The bank may at its discretion offer a discount of not more than 5% on the floor price so calculated for the QIP, the public sector lender said in a regulatory filing today.

DCM Shriram: The company has entered into an agreement with Turkey-based Zyrone Dynamics Havacilik Danismanlik, to manufacture unmanned aerial vehicles (UAV). DCM Shriram will subscribe shares worth $1.05 million in the company in return for technological support. DCM Shriram received an industrial licence to manufacture 500 UAVs in July 2018.

Future Retail: The Delhi high court has said that it will implement the single-judge order restraining Future Retail Ltd (FRL) from going ahead with the 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon, in case no stay is obtained from the Supreme Court within four weeks.

Goodluck India: The company completed the expansion of its auto tube division. The company has identified the potential of cold drawn welded tubes in the automobile industry in domestic and overseas markets. The nearly 25% capacity expansion, translating into around 10,000 MTPA is guided by demand foreseen from overseas buyers, the company said, adding that it has been a dominant player in the US market.

HDFC Bank: The Reserve Bank of India (RBI) allowed HDFC Bank to issue new credit cards after 8 months of imposing a ban as a penalty due to technical glitches, reported news agency Reuters. However, RBI stated that its temporary ban on the lender for introducing new, digital initiative continues, the report added.

Hindustan Aeronautics Ltd: The company has signed a contract worth 5,375 crore with US-based GE Aviation to procure 99 F404-GE-IN20 engines and support services for the Tejas light combat aircraft (LCA). The engine are to be delivered by 2029. 

InterGlobe Aviation: Icra has reaffirmed the company’s short-term rating at [ICRA] Al. The long-term rating was downgraded by one level from [ICRA] A+ to [ICRA] A while the outlook remains negative. Icra has attributed the downgrade to prolonged disruption caused by the covid-19 pandemic on the company’s financials.

PNB: The lender is looking to sell KSK Mahanadi loans of 1,719.85 crore to ARCs, other banks and non-bank financiers, it said in a public notice. The sale, it said, will be done on a full cash basis, the reserve price for which has been set at 752.28 crore. 

SpiceJet: The budget airline said in a regulatory filing that it is seeking approval through postal ballot for “transferring its cargo and logistics services on a slump sale basis along with all related assets and liabilities, including knowhow, trademark, licenses, franchises, customer contracts, distribution network, to its subsidiary SpiceXpress and Logistics Pvt. Ltd”.

Tata Steel: The domestic steel giant is interested in acquiring state-owned Rashtriya Ispat Nigam Limited (RINL), the company’s chief executive and managing director T V Narendran said. RINL, under the ministry of steel, owns and operates a 7.3 million tonnes plant in Visakhapatnam, Andhra Pradesh. It holds the distinction of being India’s first shore-based integrated steel plant.



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