NEW DELHI :
Here’s a list of top 10 stocks that could be in focus on Wednesday:
Future Retail: The Securities Appellate Tribunal (SAT) has stayed an order passed by market regulator SEBI that had banned Future Retail Chairperson Kishore Biyani and some other promoters from the securities market for one year for alleged insider trading. SAT has also directed the Future Group promoters to deposit a sum of ₹11 crore as an interim measure.
ICICI Bank: The lender has entered into an agreement with fintech startup Thillais Analytical Solutions Pvt Ltd to buy 9.65% stake in the company. Thillais Analytical Solutions operates a neo-banking platform Vanghee, which facilitates connected banking solutions for corporates and MSMEs, and helps banks deepen their customer relationships.
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) has completed the acquisition of Dighi Port for ₹705 crore and would invest over ₹10,000 crore in developing it as an alternate gateway to JNPT. JNPT is India’s largest container port and is one of the 12 major ports in the country.
IndusInd Bank: IndusInd International Holdings Ltd. (IIHL), the promoter company of IndusInd Bank has completed its capital raise through rights issue, which was oversubscribed. IIHL has redeemed the balance 75% of the warrants of the IndusInd Bank at ₹1709 apiece (a premium 1400% over the current market price of ₹1059), aggregating to ₹2021.45 crores. Additionally, IIHL has decided to monetize some of the other mature, non-core investments.
Axis Bank: Axis Bank and its promoter United India Insurance Company have settled Sebi cases of alleged disclosure lapses and have paid more than ₹51.5 lakh as a total settlement amount.
Infosys: Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, has bought the business and underwriting platform from STEP Solutions Group LLC.
Nestle India: FMCG major Nestle India Ltd reported a 2.25% rise in net profit to ₹483.31 crore for the fourth quarter ended December. The company, which follows the January-December financial year, had posted a profit of ₹472.64 crore in the same period a year ago.
Tata Group: The Tata group is acquiring 68% stake in online grocery platform BigBasket for around ₹9,500 crore as it bids to expand in the fast growing e-commerce space in India, according to a PTI report.
L&T Finance Holdings: The company has closed its rights issue and has raised over ₹2,998 crore. The rights issue was oversubscribed by approximately 15 per cent, L&T Finance Holdings Ltd said in a release.
APL Apollo Tubes: APL Infrastructure Pvt Ltd on Tuesday offloaded 30 lakh shares of APL Apollo Tubes worth a little over ₹289 crore through an open market transaction. As per bulk deal data available on BSE, 30 lakh shares of APL Apollo Tubes were sold by APL Infrastructure at an average price of ₹965.15 apiece.