Stocks in the news: Dilip Buildcon, SpiceJet, PNB, Canara Bank, BSE and Mahindra and Mahindra
Here are a few stocks which may buzz the most in Wednesday's trade.
Canara Bank: State-owned Canara Bank on Tuesday said its board has approved plan to sell part or full stake in housing finance subsidiary Can Fin Homes. The bank also proposed to raise up to Rs 12,000 crore through mix of equity and bonds during the current fiscal to fund its business growth.
Maharashtra Scooters (MSL): MSL, the maker of the once popular Priya brand of scooters, has become a subsidiary of Bajaj Holdings and Investment Ltd (BHIL) following the Western Maharashtra Development Corporations (WMDC) transferring its 27 per cent stake in MSL to the company after a protracted legal battle.
HDFC Bank: Reserve Bank Tuesday fined country's largest private sector lender HDFC Bank Rs 1 crore for not reporting frauds and non-compliance with other directions.
PNB: India Ratings and Research (Ind-Ra) has downgraded Punjab National Bank's additional tier I (AT1) perpetual bonds worth Rs 67.5 billion by one notch to A/negative outlook from A+/negative.
Mahindra and Mahindra: Mahindra and Mahindra expects 10-12 per cent growth in its Bolero range pickups this fiscal, according to a report by PTI.
Dilip Buildcon: Madhya Pradesh-based construction company Dilip Buildcon, which is constructing one-fifth of India’s national highways, is in final stages of talks to sell all its Hybrid Annuity Model (HAM) projects — in all 12 — in nonbinding agreements, say sources close to the development. These national highway projects are expected to fetch close to Rs 2,500 crore.
Trent: Tata group company Trent, which runs retail stores Westside and Star Bazaar, plans to raise Rs 1,550 crore to fund expansion plans.
BSE: The stock exchange has sought market regulator Securities and Exchange Board of India’s (Sebi) approval to launch futures contracts on base metals like zinc, nickel, lead and aluminium. This is to offer an alternate hedging platform to companies and physical traders who cover their price risk on the London Metal Exchange.
IndiGo, SpiceJet: Domestic air passenger traffic saw a rebound in May as it increased by 2.96 per cent after a slump in April, according to the data released by aviation regulator DGCA on Tuesday. IndiGo maintained its lead position with 49 per cent share of the domestic passenger market in May, the data showed. SpiceJet's market share increased from 13.1 per cent in April to 14.8 per cent in May, giving it the number two spot, as per the data.