NEW DELHI: Following are the top stocks that could be in focus on Tuesday:
Reliance Industries: SEBI imposed fine 30 lakh on Reliance Industries Limited (RIL) and its two compliance officers for alleged violation of the Prohibition of Insider Trading Rules. The case pertains to the alleged lack of proper disclosure of unpublished price sensitive information in April 2020 regarding Facebook’s 9.99% investment in Jio Platforms, a subsidiary of RIL. The deal was worth it. 43, 574 crores.
Yes Bank: is in advanced stages of Negotiations to close $1 billion equity Fundraising from private equity firms Carlyle and Advent International. Fundraising talks were progressing slowly due to the Asset Reconstruction Company (ARC) deal that Yes Bank was going through to clear off a major chunk of the bad loans on its books, said the people mentioned above.
Tata Steel: about imported 75,000 tonnes of coal from Russia In the second half of May, weeks after pledging to stop doing business with Russia. A Tata Steel spokesperson said the deal to import coal from Russia was done ahead of the company’s announcement of cutting trade ties with Russia, without giving further details.
Life Insurance Corporation: JPMorgan believes that the market is mispricing the newly listed Life Insurance Corporation of India shares which are more than 30% below the IPO price. Initiating coverage on stocks with an overweight rating and a target price of 840, JP Morgan said valuations are attractive.
ONGCThe Ministry of Petroleum and Natural Gas has approved extension of additional charge of the post of Chairman and Managing Director, Alka Mittal, Director (HR) for a period of two months till August 31 or till the appointment of a regular incumbent. to the post
ICICI Prudential Life Insurance: The private life insurer has announced a record bonus of 969 crore for policyholders in FY22, up 12% year on year. This is the company’s 16th consecutive annual bonus, and the highest ever.
Vodafone IdeaThe board of the debt-ridden telecom firm is going to meet on June 22, in which the proposal to raise funds will be considered. 500 crore from Vodafone Group. One or more entities belonging to Vodafone Group will have to raise funds through issuance of equity shares or convertible warrants on a preferential basis.
Adani PowerSUPPORT PROPERTIES PRIVATE LIMITED AND ETERNUS REAL ESTATE PRIVATE LIMITED’s website has completed 100% equity shares from their respective shareholders. 609.4 crores. Earlier this month, Adani Power had entered into a share purchase agreement with both the companies.
bank of india: The state-owned lender is looking to extend 2,500 crore in fresh equity capital as the public shareholding in the bank needs to be increased to 25% in order to comply with regulatory norms. Presently the public shareholding in Bank of India is 18.59%. As per SEBI regulations, listed companies are required to adhere to minimum public shareholding guidelines.
Bharat ForgeKalyani Powertrain (KPL), a wholly owned subsidiary, has decided to consolidate its electric vehicle business initiatives for a better strategic alignment under: Accordingly, its Investment Committee – Strategic Business has approved the transfer of the Company’s stake in the Joint Venture Company, Refu Drive GmbH to KPL, subject to obtaining necessary approvals from the regulatory authorities.