Top 11 stocks in focus today: Coal India, Wipro, Nestle, Swaraj Engines
Wipro will open Rs11,000cr share buyback scheme today. The company would buyback over 34.37cr fully paid-up equity shares for Rs320 a unit, representing up to 7.06% of the total paid-up equity share capital, on a proportionate basis.
The district administration of Shahjahanpur, UP, has slapped a Rs45 lakh fine on Nestle India, Rs15 lakh on its three distributors and Rs11 lakh on its two sellers, after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the FMCG major maintained that “it’s a case of application of incorrect standards”, as per media reports.
Coal India is considering hiking salary of its executives, which may cost the company about Rs800Cr, as per media reports.
Swaraj Engines to buyback 2.94 lakh shares or 2.37% at a price of Rs2,400 for an aggregate amount not exceeding Rs70.7 Cr.
South Indian Bank has raised Tier 2 capital aggregating Rs490cr by allotting 49,000 non-convertible, redeemable, unsecured, Basel III compliant bonds at 9.50% per annum interest payable half-yearly for a period of 126 months.
Genus Power Infrastructures has won an order from EESL for the supply of 13.5 lakh smart meters for the states of Haryana and Uttar Pradesh.
Technofab Engineering has received an order in the domestic water sector valued at Rs28cr. The project is funded by Asian Development Bank.
SpiceJet has incorporated a wholly-owned subsidiary namely – Canvin Real Estate Private Limited which will engage in real estate business.
SREI Infrastructure Finance announced that the proposed IPO of the subsidiary, SREI Equipment Finance consists of fresh issue of Equity Shares of SEFL aggregating up to Rs1,100cr and an offer for sale of upto 4,386,765 Equity Shares of SEFL by SREI Infrastructure Finance.
RCom enters into binding Share Purchase Agreement with Pantel Technologies to sell 100% of DTH business.
AU Small Finance Bank started offering MF distribution. Partners with 11 AMCs.