Top 5 stocks in focus on August 9: ICICI Bank, ICRA to CreditAccess Grameen, here are the 5 newsmakers of the day
Sensex climbed 222 points and Nifty jumped by 61 points before the markets closed on Wednesday. But there were certain stocks that came in the news after the market was closed for trading and can have an impact on the market on Thursday, .i.e. on August 9, 2018.
Sensex climbed 222 points and Nifty jumped by 61 points before the markets closed on Wednesday. But there were certain stocks that came in the news after the market was closed for trading and can have an impact on the market on Thursday, .i.e. on August 9, 2018. Here is the list of five stocks:
Tata Steel/Bhushan Steel: Fair trade regulator, Competition Commission of India (CCI), on Wednesday approved Tata Steel's proposed acquisition of the debt-ridden Bhushan Power and Steel. The regulator said it has no objection to the proposed acquisition as it will not impact competition in the sector.
Walmart/Flipkart: CCI on Wednesday approved Walmart's $16-billion purchase of Flipkart. The CCI yesterday said that it approves proposed acquisition of Flipkart Private Limited by Wal-Mart International Holdings, Inc. With this approval, Walmart will acquire a 77 per cent stake in Flipkart.
ICICI Bank: The country’s second-largest private bank on Wednesday said that it has made full disclosures about its bad loans and non-performing assets (NPAs) in its annual report, investor presentations and analysts’ calls. The bank in its regulatory filing said, “The bank’s accounts are audited by reputed statutory auditors whose audit report and audit opinion form part of the bank’s annual report”.
ICRA Limited: The credit rating agency ICRA's board will meet Today to consider April-June results. Besides, during the meet, the board will also consider a proposal to buy back the company's shares.
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CreditAccess Grameen Ltd: The initial public offering (IPO) of CreditAccess Grameen was subscribed by 0.25 times on the first day of the share sale, with investors bidding for 47.83 lakh shares of the 1.88 crores offered to them. The microfinance firm aims to raise up to Rs 1,131 crore and the sale is on from August 8 to August 10, 2018. This IPO consists of fresh equity issue worth Rs. 630 crore (1,49,28,910 shares) and offer for sale (OFS) of 1,18,76,485 shares by existing stakeholders.
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