Top 5 stocks in focus on July 23: TCNS, SpiceJet to IDFC Bank, here are the 5 newsmakers of the day
The women's apparel maker TCNS's initial public offer (IPO) was subscribed 5.27 times on the last day of bidding on Friday. The category reserved for qualified institutional buyers (QIBs) was subscribed 13.47 times, non-institutional investors 5 times and retail investors 62 per cent, merchant banking sources said.
The Indian market on Friday ended in green, but there were certain stocks that came in the news after the market was closed and can have an impact on July 23 (Monday). Find the list of five newsmakers of the day:
TCNS Clothing Co. Limited: The women's apparel maker TCNS's initial public offer (IPO) was subscribed 5.27 times on the last day of bidding on Friday. The category reserved for qualified institutional buyers (QIBs) was subscribed 13.47 times, non-institutional investors 5 times and retail investors 62 per cent, merchant banking sources said. The IPO was brought to raise about Rs 1,125 crore but the investors bid for 57.1 million shares, which was 5.27 times the 10.1 million shares on offer.
SpiceJet: An arbitration tribunal on Friday rejected the low-cost carrier’s ex-owner Kalanithi Maran’s Rs 1,323-crore claim for loss due to non-issuance of share warrants in a share purchase dispute. The tribunal ruled that Maran, who three years back sold his 58.5 per cent stake in SpiceJet to Ajay Singh for Rs 2, is entitled to a refund of over Rs 578 crore towards subscription amount for warrants and preference shares.
Corporation Bank: The public sector bank's board has approved the plan to raise Rs 2,555 crore by way of preferential allotment of equity shares to the government. The process to raise fund will be subject to all necessary approvals of RBI, SEBI, the central government and shareholders of the Bank, it said.
IDFC Bank: The board of directors of the private lender has approved the composite scheme of merger of Capital First and the bank will convene meetings of the secured creditors, unsecured creditors and equity shareholders of the amalgamated company to approve the amalgamation on September 3, 2018.
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Reliance Power: The Anil Ambani-led power generation company on Saturday posted about 3 per cent increase in its consolidated net profit at Rs 237.33 crore in the quarter ended on 30 June 2018. According to the filing, total income of the company declined to Rs 2,370.55 crore in the first quarter of this fiscal from Rs 2,752.32 crore a year ago.