Stocks of Piramal Finance Ltd., State Bank of India Ltd., Tata Motors Ltd., Kotak Mahindra Bank Ltd., LIC Housing Finance Ltd., and Union Bank of India Ltd. will catch investors' attention on Monday.
Here are the notable corporate announcements that came after Friday's market hours:
Stocks To News
- Kotak Mahindra Bank: The lender is divesting its 30.99% stake in Infina Finance for Rs 1,293 crore, with buyers including the Rakesh Jhunjhunwala Estate and Derive Trading & Resorts.
- Tata Capital: The company has received a Rs 413 crore reassessment order from the I-T Department for FY18 due to a tax credit discrepancy.
- Piramal Finance: The company will hold a board meeting on March 27 to consider a fund-raising proposal.
- SBI: The company has received a Rs. 6,337 crore tax demand for AY24, though it expects no impact on operations; separately, it has raised Rs. 6,051 crore via Tier-2 bonds at a 7.05% coupon rate.
- Tata Power: The company reports that the Gujarat cabinet has approved a supplementary Power Purchase Agreement (PPA) with GUVNL.
- Tata Motors: The company will implement a weighted average price increase of 0.5% across its passenger vehicle portfolio starting April 1.
- LIC Housing Finance: The company will hold a board meeting on March 25 to consider raising funds.
- Cholamandalam Investment: The company has allotted NCDs worth Rs. 2,000 crore, including a Rs. 1,000 crore green-shoe option.
- Ceigall India: The company has emerged as the L1 bidder for a Rs. 603 crore NHAI six-lane road project in Punjab.
- HFCL: The company will hold a board meeting on March 25 to consider issuing warrants to promoters on a preferential basis.
- REC: The company will hold a board meeting on March 25 to consider its market borrowing programme for FY27.
- Union Bank of India: The company has approved raising Rs. 7,500 crore, including a green-shoe option of Rs. 4,500 crore.
IPO Listing on Monday
Innovision:
- Provides manpower services, toll plaza management, and skill development training to clients
- Three operational segments: Manned Private Security Services, Integrated Facility Management (IFM) Services and Manpower Sourcing and Payroll
- Operates in in 23 states and 5 union territories of India.
- Served more than 180 clients across various sectors, sectors including retail, healthcare, warehousing, logistics and BFSI.
- Max Healthcare Limited, Stellar Value Chain and Sequel Logistics are some of the customers.
Issue Price: Rs. 519 per share
Total Issue Size: 61.51 lakh shares (agg. up to Rs. 319 Crore)
Fresh Issue: 49.13 lakh shares (agg. up to Rs. 255 Crore)
Offer for Sale: 12.38 lakh shares of Rs. 10 (agg. up to Rs. 64 Crore)
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