Here are stocks that are in the news today:
Results on February 27: Metalyst Forgings, Nitin Fire Protection, Rain Industries, Vesuvius India, KSB, Merck.
Max India: Board approves selling 51 percent stake in Max Bupa Health Insurance for Rs 510 crore to True North. Enterprise value Rs 1,001 crore and company to complete Max Bupa stake sale in FY20.
BSE Limited: SP Kothari resigns as shareholder director to join Securities Exchange Commission, Washington.
PSU Banks: RBI removes Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from Prompt Corrective Action framework.
Greycells Education: American University of Ras Al-Khaimah (AURAK) has entered into a partnership with EMDI - Dubai, a wholly owned subsidiary of the company.
Future Retail: CARE reaffirmed A1+ rating for company's commercial paper.
MCX: Board of directors recommended the name of P S Reddy as the MD & CEO and a KMP of the Exchange to SEBI for seeking its approval.
Central Bank of India: Capital Raising Committee of the bank approved raising of equity capital by issuance and allotment of, upto 68,72,48,322 equity shares at the issue price of Rs 37.25 per share, aggregating to Rs 2,560 crore to government on preferential basis.
GMR Infrastructure: GMR Airports emerges as the highest bidder for greenfield airport at Bhogapuram in Andhra Pradesh.
ONGC: Its arm, Mozambique partners in LNG pact with Tokyo Gas & others.
IFCI: CARE cuts company's long term rating to BBB and downgraded NCD ratings to A- from ABBB+.
MRF: Workers call off strike at Chennai’s Tiruvottiyur plant.
Unichem Labs: Company filed plea with European Union court of justice versus general court order which upheld fine on company in Perindropil case.
Tata Steel: Board approves raising fund up to Rs 5,000 crore via NCDs.
Majesco: Company completed its previously announced rights offering pursuant to which 6,123,463 shares of Majesco's common stock will be issued, resulting in gross proceeds to Majesco of approximately $43.5 million.
United Bank of India: CRISIL has downgraded its ratings from A to A- / Stable for Rs 300 crore Tier I perpetual bonds (under BASELII), from AA- to
A+ / Stable for Rs 209 crore lower Tier II bonds (under BASELII) and from AA- to A+ / Stable for Rs 1,490 crore Tier II Bonds (under BASELIII).
Bank of Maharashtra: Board approved the proposal of raising of equity capital upto Rs 205 crore by way of issue of equity shares to Government on preferential basis.
Panacea Biotec: Board approved one time settlement with the consortium of lenders of the company; raising of funds through issue of listed/unlisted, secured/unsecured redeemable non-convertible debentures, aggregating upto Rs 864 crore; demerger of real estate business; raising of funds through issue of warrants by issuing up to 71,11,111 warrants of Rs 180 each, exercisable into equal number of equity shares of face value of Re 1 each of the company on a preferential basis amounting upto Rs 128 crore; and transfer of the pharmaceutical formulations business to a wholly owned subsidiary (to be incorporated), as a going concern.
Time Technoplast: Company and Confidence Petroleum India joined hands to give new thrust for making LPG available across India in blast proof composite cylinders.
Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 1,217.80 crore to one of the largest private sector banks on a direct assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 6,666.20 crore in FY19.
Share India Securities: Board approved the migration of the company from BSE SME platform to Main Board of BSE Ltd.
Sanofi India December Quarter: Profit rises to Rs 79.3 crore versus Rs 76 crore; revenue jumps to Rs 726.4 crore versus Rs 670.4 crore YoY. Board of Directors approved recommendation for payment of final dividend of Rs 66 per share for the year ended December 2018.
Maruti Suzuki: Company and Delhi Police joined hands for launch of automated red light violation detection and speed violation detection system.
HDFC Asset Management Company: Board approved payment of interim dividend of Rs 12 per share of Rs 5 each for the financial year ending March 2019.
Elantas Beck India Q3: Profit increases to Rs 14.35 crore versus Rs 14.15 crore; revenue rises to Rs 111 crore versus Rs 98.83 crore YoY. Board recommended payment of dividend of Rs 4.50 per share of Rs 10 each for the year 2018.
Action Construction Equipment: National Company Law Tribunal approved the Scheme of Amalgamation.
Indian Overseas Bank: Board approved the issue of equity shares on preferential basis to government for the capital infusion of Rs 3,806 crore received for financial year 2018-19.
Monte Carlo Fashions: Special resolution passed by the shareholders through postal ballot approving the buy-back of equity shares.
S Chand and Company: Company along with subsidiary Eurasia Publishing House acquired the remaining stake of 26 percent in Chhaya Prakashani and Chhaya has become the wholly owned subsidiary of the company.
Union Bank of India: Board of Directors approved the issue of 52,15,62,658 new equity shares on preferential basis to the government for an amount aggregating upto Rs 4,112 crore.
Wipro: NSE said on account of bonus issue in the ratio of 1:3, the adjustment factor for the corporate action shall be 1.3333 and the ex-date for the
corporate action shall be March 6.
Out of F&O ban: Allahabad Bank.
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Source: Moneycontrol
