NEW DELHI: Below are the top 10 actions that could be focused on Wednesday:
Bajaj Finance: India’s second-largest non-bank financial company has raised deposit rates to 10 basis points, as of May 10, the second such rise in the last month. It has also reduced the minimum deposit size of ⁇25,000 a ⁇15,000 to attract more depositors. By the end of April, it had raised deposit rates by 60 basis points.
State Bank of India: The board of the State Bank of India has approved raising up to $ 2 billion through overseas bond sales. Bonds can be denominated in dollars or any other currency, but are likely to be in several tranches. In January last year, the lender had amassed $ 600 million with a record-breaking coupon offered to international investors.
ICICI bench: Merrill Lynch India Equities Fund Mauritius Ltd on Tuesday sold 4.80 lakh shares of ICICI Bank shares for value ⁇34 million through an open market transaction. According to data from the block agreement available with the BSE, Merrill Lynch sold 4,80,440 shares at an average ⁇714.65 each. BlackRock Global Funds India Fund collected the same amount of shares at the same price.
Vodafone idea: India’s third largest operator, Vodafone Idea, reduced its losses ⁇6,563 million in the quarter ended March 2022, since ⁇7.2 billion in the previous quarter and increased its key operating metrics, including revenue and margins, as a result of the rate hike in November last year.
Cipla: The main pharmacist recorded a consolidated net profit of ⁇362 million for the closed quarter of March, 12% less than the year. Operating income increased to ⁇$ 5.65 billion ⁇4,606 million in the fourth quarter of fiscal year 21.
UltraTech cement: Armed with a favorable legal opinion and a regulatory precedent under the Competition Law, UltraTech Cement, part of the Aditya Birla group, is likely to bid for Holcim’s assets in India. Ambuja Cements i ACC Ltd., according to a media report. It is also willing to cede voluntary assets of about 15 MTPAs as a remedy to comply with market share rules.
Vedanta: The leading resource company is looking to add some brilliance to its balance sheet by exploring gold and copper in four blocks acquired by the listed parent company Vedanta, while increasing silver production this year at its subsidiary. Hindustan Zinc.
Retail of the future: Shareholders of Future Retail Ltd and proxy consulting firm InGovern Research Services have written to Sebi demanding immediate action to protect hundreds of thousands of Future shareholders and prevent the company from going to insolvency court.
Future companies: Has defaulted on principal payment and interest on non-convertible bonds (NCD) of approx ⁇26 million, the company said in a regulatory filing on Tuesday.
Welspun India: Welspun India, the leading home textile company, saw a 61.8% year-on-year decline in consolidated net profit in ⁇51.25 million for the quarter ended March. Total consolidated revenue stood at ⁇2,247.06 million compared to ⁇2,173.56 million in the one-year period.
