Stocks in Focus on January 13: Infosys, Tata Steel to PSU Companies; here are the 5 Newsmakers of the Day
The domestic market managed to end on a positive note on January 10, 2020, despite witnessing a volatile trading session across the week due to US-Iran conflict. But certain stocks made news after the market was closed and can make an impact on the indices when it reopens after the closure of two days on Monday, January 13, 2020.
The domestic market managed to end on a positive note on January 10, 2020, despite witnessing a volatile trading session across the week due to US-Iran conflict. But certain stocks made news after the market was closed and can make an impact on the indices when it reopens after the closure of two days on Monday, January 13, 2020. Here is a list of five such stocks:
Infosys: The country's second-largest IT services firm Infosys on Friday posted December quarter results and reported a 10.9% rise in profit to Rs4457 crore from Rs4,019 crore (QoQ). Its revenue grew by 2% to Rs23,092 against Rs22,629 of September quarter. Dollar revenue growth for the quarter stood at 1% compared to the same period last year. Besides, the audit committee finds no evidence of financial inappropriateness and executive misconduct.
Tata Steel: The steel giant on Friday said its Netherlands subsidiary, Tata Steel Netherlands Holdings B V (TSNHBV), has executed agreements for the refinancing of its bank debt and has raised term-loan facilities of €1.75 billion of European debt from 19 banks. Tata Steel Netherlands Holdings B V (TSNHBV), a 100 per cent subsidiary of Tata Steel Ltd, has raised the long-term fund.
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Yes Bank: Private lender's board has approved raising funds up to Rs10,000 Crore, in one or more tranches by way of issuance of securities through Qualified Institutions Placement (QIP)/ Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs)/ Foreign Currency Convertible Bonds (FCCBs)/ or any other methods on private placement basis. It also said that it would not proceed with the offer made by Erwin Singh Braich/SPGP Holdings. It further said it had received interest from the family office of Citax Holdings Ltd and Citax Investment Group and it is favourably considering the offer by Citax. The final decision will be taken in the next board meeting.
Edelweiss Financial: The company has said, 'Edelweiss has no relationship with Capstone Forex Pvt. Ltd. and all allegations of FEMA violations are false'. Enforcement Directorate had, earlier, summoned the group's chairman Rashesh Shah to appear and provide information about Edelweiss group companies' dealings with a company called Capstone Forex.
PSU Companies in focus: The group of secretaries on disinvestment is likely to meet on January 16, 2020, to take up discussion on disinvestment of CPSEs.
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