Stocks in Focus on September 9: Equitas Holdings, Canara Bank to Coffee Day; here are the 5 Newsmakers of the Day
The Sensex at the Bombay Stock Exchange surged 337.37 points, or 0.92 per cent, to close at 36,981.77. But certain stocks came in news after the market was closed and can impact the market when it reopens for trading purpose on Monday, September 9, 2019. Here is a list of five such stocks:
Domestic stocks markets surged more than 0.90% to close in Green on Friday, September 6, 2019. The Sensex at the Bombay Stock Exchange surged 337.37 points, or 0.92 per cent, to close at 36,981.77. The Nifty at the National Stock Exchange jumped 98.30 points, or 0.91 per cent to 10,946.20. But certain stocks came in news after the market was closed and can impact the market when it reopens for trading purpose on Monday, September 9, 2019. Here is a list of five such stocks:
Equitas Holdings Ltd (EHL): The Reserve Bank of India (RBI) has barred Equitas Small Finance Bank (ESFB) from opening new branches after it failed to meet the deadline of listing its shares on stock exchanges. The central bank has also frozen the salary of the bank’s MD and CEO at the existing levels. Besides, EHL has proposed a new scheme to capitalise free reserves of ESFB and issues shares of the subsidiary to its shareholders without cash consideration. EHL had also approached SEBI with a reverse merger proposal but the regulator turned down the request.
Eveready Industries: Duracell Inc is set to acquire BM Khaitan’s flagship Eveready Industries battery and flashlight business in a slump sale of Rs1,600-1,700 crore, media reports. Duracell is owned by Warren Buffet’s Berkshire Hathaway. The all-cash deal is in the final stages of negotiations. the deal would help the company to wipe out its debt. Energizer Holdings also wanted to buy the business. Deal excludes Eveready Industries’ lighting, electrical appliances, confectionery and a fast-moving consumer goods (FMCG) joint venture that clocking a cumulative turnover of Rs500-600 crore.
Canara Bank: The bank is seeking expression of interest of bidder/investors through duly appointed Merchant Bankers to purchase 3,99,30,365 equity shares of the face value of Rs2 constituting 29.99% of the Paid-up Capital held by the bank in CanFin Homes.
Varun Beverages: The QIP Committee at its meeting approved the allotment of 1,47,05,882 equity shares to the eligible Qualified Institutional Buyers at issue price of Rs612 per equity share aggregating to Rs899.99 crore under the Issue. The company said the QIP issue opened on September 3, 2019, and closed on September 6, 2019. Allottees who were allotted more than 5% of the equity shares of the offered QIP includes Government Pension Fund Global, American Funds, The Nomura Trust and Banking Co., Abu Dhabi Investment Authority, Sundaram Mutual Fund A/C and National Westminster Bank Plc.
Coffee Day Enterprises Ltd (CDEL)/Sical Logistics: CDEL has put its Sical Logistics unit on the block as it seeks to pare debt, media reports. The transaction would help the company to raise around Rs1,000-1,500 crore. The company’s debt stands around Rs4,400 crore (at the consolidated level).
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