Market Today
The significantly strong subscription numbers show the high level of confidence every category of shareholders has in the company's future and the promoters' commitment to creating value for them even in the times of COVID, sources said.
2. Uday Kotak to divest 2.8% stake in bank for at least 6,800 crore
Billionaire banker Uday Kotak will sell a 2.8 per cent stake in Kotak Mahindra Bank for at least 6,800 crore through a block deal on Tuesday.
3. Gautam Adani plans to delist Adani Power, stock surges over 8%, Board to consider proposal this week
In a filing to the market regulator, Adani power said that the promoter group has expressed the intention to delist the company, either by itself or together with other members of the Promoter Group. Adani Power’s Board will meet on June 3, to consider the proposal for voluntary delisting of the equity shares of the Company received from Adani Properties Private Limited, the company said. A buy-back offer has not surfaced so far.
4. Voltas share price rises 9% post Q4 results
The company has posted a 12.5 percent jump in its consolidated Q4 FY20 net profit at Rs 159.5 crore against Rs 141.74 crore in the year-ago period.
5. IDBI Bank shares jump 20% on Q4 turnaround
Shares of IDBI Bank surged 20 per cent in Monday's trade after the lender reported profit after 13 quarters of losses. Reports suggesting that the government may delay stake sale in the lender beyond March 2021, due to depressed valuation, also supported the stock.
6. Biocon share price up 2%
Biocon share price surged over 2 percent in the early trade on June 1 after the company received favourable ruling from US Patent and Trademark Appeal Board (US PTAB).
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