Stocks in Focus on July 26: PNB, Shriram Transport to Techno Electric & Engineering; Here are 5 Newsmakers of the Day

Sensex and Nifty, both, declined for the sixth straight trading session on Thursday, July 25, 2019, amid foreign fund outflow. However, certain stocks came in news after the market was closed for the day. These stocks can have an impact on the indices after the market is opened for trading purposes on Friday, July 26, 2019. Here is a list of five such stocks:

Punjab National Bank (PNB): Board of the state-owned Punjab National Bank on Thursday, July 25, 2019, approved raising Rs5,000 crore through public offer. The equity capital will be raised in one or more tranches through Qualified Institutional Placements (QIP) or Follow-on Public Offer (FPO) or Rights Issue. 

Shriram Transport Finance Co. Ltd.: International Finance Corporation (IFC), a World Bank group member, will lend USD 100 million of the USD 200 million to support Shriram Transport Finance to primarily fund purchases of commercial vehicles and support micro, small, and medium enterprises (MSMEs). In a release, the company has said the first tranche of USD 82 million has already been disbursed, of which half was from the World Bank’s investment arm.

Indiabulls Housing Finance: Indiabulls Housing on Thursday said the board has recommended Gagan Banga as CEO of the proposed entity that will be formed after its merger with Lakshmi Vilas Bank. Sameer Gehlaut has been proposed as non-executive chairman of the merged entity. The company said, Banga, who is the current managing director and chief executive officer of IHFL, should continue in the same position in the amalgamated bank. 

Techno Electric & Engineering Company Limited: The company has been awarded an order worth Rs369 crores from M/s. Damodar Valley Corporation (DVC) for setting up Flue Gas Desulphurisation (FGD) System for Bokaro 'A' Thermal Power Station, BTPS 'A', (1x500 MW) located at Bokaro, Jharkhand.

AstraZeneca/Dr Reddy: Pharma major AstraZeneca has filed a petition in a USA court, the District Court of New Jersey, alleging Dr Reddy's Laboratories Limited is attempting to come out with a generic version of its patented blockbuster drug Brilinta (Ticagrelor) in the US market before the expiration of a patent of the drug (276). AstraZeneca alleged the Indian drug maker's proposed generic Brilinta will infringe the patent and requested the court to pass an injunction order against manufacturing, importing and selling that drug in the US.