Stocks: SBI Life, SBI, Lakshmi Vilas, Biocoin, M&M, IHCL

Stocks SBI Life, SBI, Lakshmi Vilas, Biocoin, M&M, IHCL

Stocks: Nifty futures on the Singapore Exchange (SGX) were trading 285 points or 2.88 percent lower at 9,611. Showing a negative start for the Indian market on Friday.

Here’s a glance at the highest stocks, which will remain focused today

SBI, SBI Life: The country’s largest slender depository financial institution of India (SBI) will spare 2.1 percent of its stake. The subsidiary SBI life assurance via a suggestion purchasable. The offer purchasable will open on June 12 with a floor price of Rs 725 apiece. Which is at 2.1 percent discount from the last close. It predicts SBI to mop up almost $202 million via the share sale.

Lakshmi Vilas Bank: As time runs out for capital-starved Lakshmi Vilas Bank (LVB) to infuse money. AION Capital-backed Clix Capital is in talks to shop for a majority stake within the private lender. READ MORE.

YES Bank: a gaggle of US-based FPIs is looking to select a stake worth $300 million in YES Bank by investing in its forthcoming share sale via the structured. Unsponsored American Depository Receipts (ADR) route, consistent with this Business Standard report.

IHCL: With the COVID-19 pandemic hitting the hospitality industry hard. The Tata Group’s Indian Hotels Company Ltd (IHCL) is getting to venture into other areas of revenue generation. Including home delivery of food and beverages.

Biocon

Biocon and Mylan announced that the USFDA has approved the New Drug Application (NDA) for Semglee (insulin allergen injection). In vial and pre-filled pen presentations. to regulate high blood glucose in adults with type 2 diabetes and adult and pediatric patients with type 1 diabetes.

HDFC: Mortgage slender HDFC on Thursday said it’ll agitate to Rs 4,000 crore. By issuing bonds on a private placement basis. The difficulty size of the secured redeemable non-convertible debentures, to open on June 15, 2020. Is of Rs 2,100 crore with a choice to keep over-subscription up to Rs 1,900 crore, HDFC said during a regulatory filing.

Oil-linked stocks may react to slip in oil prices. Brent crude futures was down 3 percent at $37.40 a barrel early today, having dropped nearly 8 percent on Thursday.

Mahindra & Mahindra (M&M)

The corporate will probably report an over 50 percent dip in bottom-line in. Its March quarter results (Q4FY20), which scheduled to release on Friday. Analysts attribute the drop to say no within the company’s volumes during the quarter and lower average selling prices (ASPs).

Earnings today: Besides M&M, they schedule 29 other companies to announce their March quarter results later within the day. The list includes names like Eicher Motors, Hindalco Industries, Butterfly Ganthimathi, and Castrol India.

Lupin: Drug from Lupin on Thursday said it’s received approval from the US health. Regulator to plug its generic anthelmintic albendazole tablets.

Wipro

IT major Wipro on Thursday said its investment arm has invested in cybersecurity firm CloudKnox Security. The investment has made by Wipro Ventures, but they have not disclosed the quantity invested.

EID Parry: net income of EID Parry (India) declined 0.53 percent to Rs 157.23 crore within the quarter ended March 2020 as against Rs 158.06 crore within the year-ago quarter. Sales rose 16.42 percent to Rs 4,245.09 crore within the quarter under review.

Also read: Mukesh Ambani’s Reliance Future Group sell its retail