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Stocks to Watch: Yes Bank, SBI, Cipla, ICICI Bank, TCS, Bharti Airtel – Livemint

Here’s a list of stocks that may be in news on Thursday:

Yes Bank and SBI: India’s largest lender State Bank of India on Wednesday said its board has approved an investment of up to 1,760 crore in the upcoming follow-on public offer (FPO) of Yes Bank.

ICICI Bank: The country’s second largest private lender ICICI Bank Ltd., whose capital position has deteriorated during fiscal 2020, on Wednesday said the bank will raise up to 15,000 crore via sale of the bank’s shares in one or more tranches. ICICI Bank’s latest capital raising plan comes after 13 years. The bank had last raised capital via fresh issuance of shares in June 2007. Through an FPO, ICICI Bank had raised Rs. 8,750 crore then.

TCS: IT major Tata Consultancy Services (TCS) announce its earnings for Q1FY21 on 9 July. The company is expected to report around 5 % dip in profits in on a quarterly basis. In rupee terms, on Bloomberg analysts expect TCS to report revenue 38,910.5 crore down 2.6% from Q4. The company is expected to report profit of around 7,694 crore down 5.2% sequentially.

Cipla: The pharma major has priced its generic version of remdesivir, Cipremi, at 4,000 per 100 mg vial, the Indian drugmaker said on Wednesday, making it among the lowest priced versions of the covid-19 treatment available so far globally.

Bharti Airtel: The government has moved the Supreme Court (SC) against the Delhi High Court order allowing Bharti Airtel Ltd to claim 9.23 billion in tax refunds by rectifying its goods and services tax (GST) returns filed earlier.

Radico Khaitan: CARE Ratings has reaffirmed its credit rating on the company’s long-term bank facilities worth 650 crore at AA- with a ‘stable’ outlook.

IRB Infrastructure Developers: The company on Wednesday said it has raised 150 crore through allotment of NCDs on a private placement basis.

Sterling & Wilson: Solar EPC company Sterling & Wilson Solar Ltd (SWSL) on Wednesday informed stock exchanges that 500 crore payment due from its promoters, the Shapoorji Pallonji group and Khurshed Daruvala, on 30 June has been delayed as the promoters cited difficulty in availing financing due to the covid-19 pandemic.

PI Industries: Agro chemical firm PI Industries on Wednesday said the company has fixed the issue price at 1,470 per share, about 4% lower than the floor rate, for sale of shares to institutional investors. The company in a regulatory filing informed that the qualified institutional placement (QIP) issue has been closed on Wednesday but did not mention the amount it has raised through the process.

Piramal Enterprises: The company raised 14,500 crore through various measures in the last financial year helping the company deleverage its balance sheet, according to the its annual report for 2019-20.

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