ICICI Bank, Raymond among 8 stocks hogging limelight today
Bank of Maharashtra received Shareholders' nod to raise equity capital through FPO/QIP preferential share upto Rs 3,000 crore at its 15th AGM in Pune on Thursday.
The Sensex and Nifty are expected to extend losses on Friday after Asian shares came under pressure on signs US trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output.
At 8:50 am, SGX Nifty was trading at 10,713, down 20 points or 0.19 per cent.
On Thursday, The Sensex ended at 35,432, down 114.94 points, while the broader Nifty50 settled at 10,741, down 30.95 points. The BSE Midcap slipped 0.5 per cent, while the BSE Smallcap index dipped 0.8 per cent.
Provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 1,126.75 crore and the domestic institutional investors bought stocks worth Rs 663.57 crore.
Here are key stocks that will buzz in today's trade:
ICICI Bank: Goldman Sachs downgraded ICICI Bank to 'Buy' from 'Conviction-buy' after the recent changes announced in top management.
Bank of Maharashtra: Bank of Maharashtra received Shareholders' nod to raise equity capital through FPO/QIP preferential share upto Rs 3,000 crore at its 15th AGM in Pune on Thursday. The move comes a day after the Bank of Maharashtra MD & CEO Ravindra Marathe was arrested in a loan default case involving DSK Developers.
Som Distilleries: Woodpecker Distilleries & Breweries Private, subsidiary of Som Distilleries & Breweries have got approval for manufacturing of IMFL at Hassan, Karnataka. The company expects to commence commercial production of IMFL from the said facility within the next one month.
HCL Tech: Finnish telecom gear maker Nokia today said it has inked a five-year global IT infrastructure and application services deal with Indian IT firm HCL Technologies. The financial terms of the deal were not disclosed. Nokia has selected HCL Technologies as part of an important effort of streamlining Nokia's outsourced IT management services, a statement said.
Raymond: Raymond completed the acquisition of Shahane Solar Power. It bought 26 per cent stake in Shahane.
KPIT Technologies: KPIT Techn announced a strategic collaboration with Kinetiq, a life sciences and clinical research management consulting, to deliver new life-sciences focused business technology applications. This alliance will strengthen the core service offerings of both the organizations in supporting life sciences customers.
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Tata Motors: Tata Motors plans to launch around 50 commercial vehicles (CVs) this fiscal as it looks to further consolidate its position in the segment, a top company official said. The auto major, which saved close to Rs 1,900 crore in 2017-18 by enforcing cost-saving measures across CV and passenger vehicle segments, aims to achieve similar kind of savings in the current fiscal as well.
Strides Shasun: Strides Shasun announced receipt of prequalification from the World Health Organization (WHO) for their 100mg rectal artesunate suppositories (RAS) for the pre-referral management of severe malaria.
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