Stocks to Watch- Adani Enterprise, Tata Motors, Infosys, HDFC Bank, Ksolves India
时间:2024-06-26 13:31:58 阅读(143)
GIFT Nifty traded up 34 points, or 0.17%, at 19,734.50, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. On Friday, the NSE Nifty 50 fell 0.22% to settle at 19,751.05, while the BSE Sensex shed 125.65 points to 66,282.74.
“Weak global cues and a sharp rise in crude oil prices dampened the market sentiment as banking and technology stocks led the downfall. While the market is already coping up with global economic uncertainty, concerns over the flare up in Israel-Palestine conflict has been making investors jittery. Investors are also worried about the persistent FII selling and the rising US dollar and treasury yields,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
“We would like to clarify that acquisitions of MIAL and NMIAL by the Company were completed during the year financial year 2021-22, significant part of the information / documents being sought through the above communications are pertaining to the prior period starting from 2017-18 to 2021-22. MIAL and NMIAL shall be responding to the said communications, in accordance with applicable legal provisions,” the company said in a regulatory filing.
Tata MotorsThe company will sell 9% stakes of Tata Technologies (a subsidiary of the Company) to TPG Rise Climate SF Pte, a climate-focused private equity fund.
InfosysThe company has received a penalty for underpayment of advance tax for the financial year 2021-22 from New York State Department of Taxation and Finance – Corporate tax.
HDFC BankHDFC Bank is set to report its earnings for the second quarter this fiscal year. This will be HDFC Bank’s first earnings results following its merger. The merger of HDFC Bank and HDFC (Housing Development Finance Corporation) was finalised on July 1, 2013.
Ksolves IndiaBoard of Directors of the Company approved the recommended the 1st interim dividend of Rs 7 per share for financial year 2023-24 on its fully paid-up Equity Share Capital of the Company to be paid to the eligible shareholders, holding shares of the company as on the record date i.e. October 26, 2023.
Delta Corp“The Company has received an intimation for payment of shortfall tax under Section 74(5) of the CGST Act, 2017 and West Bengal GST Act, 2017, from the Directorate General of GST Intelligence, Kolkata, on October 13, 2023, according to the information available on the NSE.
Companies scheduled to report their Q2 earnings today;Jio Finance
Federal Bank
Bank of Maharashtra
CEAT
Yatra Online
Nelco
Oriental Hotels
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- bi, Daiichi Sankyo has said that going ahead with the open offer at this stage would be “illegal”, “an abuse of process of law”, and “gross overreach” of the pending proceedings before the Delhi High Court and also in violation of the orders of the Supreme Court. The market regulator should, therefore, hear it out before taking any call on the IHH’s proposal, it said.
The Japanese pharma major is also filing a plea before the Delhi HC seeking appointment of forensic auditors to analyse transactions involving IHH, Fortis Healthcare and RHT, Singapore, as directed by the HC on October 18.
The development is likely to create legal hurdles and delay the proposed open offer as IHH had recently told FE that it could only go ahead if Sebi agreed with its legal interpretation that the SC’s September 22 order has lifted all such restraints.
IHH managing director and CEO Kelvin Loh told FE on November 9 that the company would like to go ahead with the open offer “as soon as possible” as there has already been a delay of four years. Ravi Rajagopal, chairman of Fortis Healthcare, had added that their legal counsel has advised that the company can go ahead with the open offer as the SC order has disposed of various appeals, including the suo motu contempt. “We have represented to the Sebi and the matter is with them,” Rajagopal had said.
However, legal observers told FE that the matter is not that straightforward and simple as the Delhi HC has to take the final call on the matter of open offer as well as whether a forensic audit has to be done in the share sale which was executed in 2018.
Also Read: IHH to float open offer for Fortis if Sebi concurs with our legal view: MD & CEO
Loh and Rajagopal had said the possibility that the matter may take a different turn when it comes up in Delhi HC cannot be ruled out.
IHH had in July 2018 acquired a 31% stake in Fortis Healthcare for Rs 4,000 crore through the bidding route. It had also earmarked Rs 3,000 crore to make an open offer for an additional 26% to the public shareholders as required under the law.
Daiichi has written to Sebi that the SC in its September 22 order had asked the HC to consider ordering a forensic audit into the dilution of FHL shareholding, repeated violation of undertakings and assurance by former FHL promoters — Malvinder and Shivinder Singh — and the transaction between FHL, IHH and the clandestine transfer of Rs 4,666 crore to RHT Singapore.
Daiichi is “severely prejudiced” with IHH’s clandestine attempt to subvert the status quo order directed by the SC on December 14, 2018, and September 22 with respect to the conduct of forensic audit and the pending proceedings before the HC by purportedly consulting regulatory authorities, including Sebi, on the proposed FHL-IHH transaction. It has reiterated that the FHL-IHH transaction was currently sub-judice before the HC where FHL is also a party, its solicitors, P&A Law Offices, have said in the letter.
“We further state that any such attempt by FHL and/or IHH to proceed with the FHH-IHH transaction would be in direct contravention of the HC and SC orders,” the letter sent by the law firm has stated. Daiichi Sankyo is pursuing the enforcement of Rs 3,500-crore arbitration award against the Singh brothers pronounced by a Singapore tribunal for concealing information when they sold Ranbaxy Laboratories to it for $4.6 billion in 2008. The apex court had in 2018 put on hold the sale of Fortis Healthcare to IHH on a contempt plea filed by the Japanese drugmaker against the Singh brothers.