Bank of Baroda, Anant Raj, Muthoot Finance in Focus Today
- Bank of Baroda board has approved stock split in the ratio of 5:1. Each stock having face value of Rs 10 will be divided in to five stocks of Rs 2 face value each. The stock split is subject to approval of RBI and SEBI.
- Anant Raj on Friday announced sale of its wholly-owned subsidiary Greatway Estates for Rs 304.12 crore. The company said the funds will be used partly to repay its debt and partially for development of its projects.
- Muthoot Finance is reportedly to sell around 20 per cent stake to private equity investors to raise around Rs 1,200 crore.
- Petronet LNG: Asian Development Bank has sold 3.9 crore shares at Rs 183 per share in the bank on Friday. With this the bank has sold its entire 5.2 per cent stake in Petronet LNG.
- Indian Overseas Bank/Syndicate Bank: International credit rating agency Standard & Poor has revised its outlook on 11 Indian banks from negative to stable but however it still maintains a negative outlook on Indian Overseas Bank and Syndicate Bank.
- Patel Integrated Logistics: Amazon has reportedly partnered with the company for fast-track delivery of its products to its customers across the country.
- Kingfisher Airlines said on Saturday that it had secured a stay from the Calcutta High Court on the decision of United Bank of India to declare the airline and its directors as wilful defaulters.
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