Top 5 stocks in focus on June 26: Varroc Engineering, Siemens to United Spirits, here are 5 newsmakers
On Monday, June 25, 2018, the Indian markets closed in red, but there were certain stocks that made news on the day and their impact will likely be seen during trade on June 26, 2018. The stocks that are in news today, Varroc Engineering, Midcap Public Sector Banks and ICICI Bank, can display some positive or negative impact on the market June 26, 2018.
On Monday, June 25, 2018, the Indian markets closed in red, but there were certain stocks that made news on the day and their impact will likely be seen during trade on June 26, 2018. The stocks that are in news today, Varroc Engineering, Midcap Public Sector Banks and ICICI Bank, can display some positive or negative impact on the market June 26, 2018. Here are the stocks concerned:
Varroc Engineering: The nearly Rs 2,000 crore initial public offer (IPO) of the Tier I automotive component manufacturing company will open on Today. The IPO consists entirely of an OFS (offer for sale) of nearly 2 crore shares in the price band of Rs 965-967 apiece with the lot size at 15 shares and in multiples thereafter. The issue closes on 28 June. The company wants to collect around Rs 1,946 crore through the sales of these IPO bonds.
Midcap Public Sector Banks (IDBI/UCO/IOB): The heads of these banks will apprise the Standing Committee on Finance, headed by M Veerappa Moily about the problems of mounting bad loans and increasing fraud cases on today. During the meet, the top officials of these banks will make presentations before the panel and respond to there queries. The actions will be taken under RBI's Prompt Corrective Action (PCA) measures.
ICICI Bank: PTI reports that the ICICI Bank may face a penalty of up to Rs 25 crores; while the fine for Kochhar may go up to Rs 1 crore, under the relevant SEBI regulations for alleged violation of listing disclosure norms regarding 'conflict of interest' in business dealings of her husband with Videocon.
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Siemens: Siemens Gamesa India has bagged an order for setting up a 150 MW wind farm in Gujarat from renewable energy power producer ReNew Power. The company through a release has said that the order was for supply, erection and commissioning of 75 units of SG 2.0-114 MW wind turbines for the farm coming up in Kutch district.
United Spirits: The company has purchased 26 per cent equity stake of a payment technology start-up HipBar for Rs 27 crore. Hip Bar Private Limited is a digital payments company dedicated to serving the needs of the beverage alcohol industry and its consumers. The company operates the HipBar wallet - a Reserve Bank of India authorised Pre-Paid Instrument (a.k.a. mobile wallet).
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