Here’s a list of top ten stocks that may be in news on Wednesday:
Axis Bank: The private sector lender has clarified that it has followed the underwriting practices and approval processes while giving loans to SREI Equipment Finance and SREI Infra Finance. The bank said its outstanding exposure to Srei Group was at ₹800 crore against the ₹44,000 crore alleged by Sydney-based Scams Breaking on its website.
Mahindra & Mahindra: The automaker said it will hike prices of its range of passenger and commercial vehicles across models due to the increase in commodity prices and various other input costs. Vedanta : Billionaire Anil Agarwal’s Vedanta group plans to raise as much as $8 billion through a mix of debt and equity to secure funds for the acquisition of state-run Bharat Petroleum Corp. Ltd (BPCL), two people directly aware of the talks with investors and banks said. Bandhan Bank: Bandhan Financial Holdings, the promoter of the bank, has widened its search for acquiring a controlling stake in a life insurance company even as it has bid for a 51% stake in Reliance Capital's share in Reliance Nippon Life Insurance, The Economic Times reported. IDBI Bank: The bank has set the floor price at ₹40.63 per share for its proposed qualified institutional placement (QIP), and downsized the fundraise by two-thirds to ₹2,000 crore. The bank's board at its meeting on 29 October had proposed to raise ₹6,000 crore by issuing shares through QIP.
Embassy Office Parks Reit: India’s first public listed real estate investment trust plans to raise $500 million through a qualified institutional placement (QIP) to fund its acquisition of commercial asset Embassy Tech Village (ETV) in Bengaluru. Punjab National Bank: The state-owned lender has set the floor price for its proposed QIP of ₹7,000 crore at ₹37.35 per share. The capital raising committee of the bank at a meeting authorised the opening of the QIP issue and approved the floor price at ₹37.35 per equity share. The bank may, at its discretion, offer a discount of not more than 5 per cent on the floor price,
Bharat Petroleum Corporation: The company has said its board will on Thursday consider buying out Oman Oil Company in the Bina refinery project in Madhya Pradesh. BPCL board will also consider merging Bharat Gas Resources Ltd(BGRL) with itself.
Union Bank of India: The state-owned lender on Tuesday said it has raised ₹500 crore debt capital by issuing Basel III compliant bonds. The bank has allotted unsecured, subordinated, non-convertible taxable perpetual fully paid-up Basel III compliant debt instruments in the nature of debentures aggregating to ₹500 crore on 15 December. Biocon: The biotechnology major said its arm Biocon Biologics has signed a pact with the Christian Social Services Commission in Tanzania as part of its affordable insulins program for low- and middle-income countries.
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