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New Delhi, Private lender <keyword id="17820746" type="General" weightage="80" keywordseo="ICICI-Bank" source="Denny">ICICI Bank</keyword> on Monday said its board will meet on Thursday to consider a proposal to delist its subsidiary <keyword id="17814846" type="General" weightage="80" keywordseo="ICICI-Securities" source="Denny">ICICI Securities</keyword> from the <keyword id="17825874" type="General" weightage="80" keywordseo="stock-exchanges" source="Denny">stock exchanges</keyword>. Following the announcement, shares of ICICI Securities surged 15 per cent in intra-day to hit their 52-week high of Rs 650 apiece on the BSE. In a regulatory disclosure to the stock exchanges, the private sector lender said, "a meeting of the board of directors of ICICI Bank Ltd is scheduled to be held on Thursday, June 29, 2023, to consider a proposal for delisting of equity shares of ICICI Securities Ltd, a listed subsidiary company of the bank, pursuant to a scheme of arrangement with the bank under ... Sebi (Delisting of Equity Shares) Regulations, 2021". Separately, ICICI Securities also announced its board of directors would meet on Thursday to consider the same. ICICI Securities, which is promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of financial products, and investment bank. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services. At 3.21 pm, shares of ICICI Securities were trading 10.68 per cent higher at Rs 624 on the BSE, while that of the parent company were quoting marginally higher at Rs 927.40 on the bourse.

ICICI Securities hit 52-week high as board to consider delisting proposal on Jun 29

New Delhi, Brokerage house <keyword id="46909" type="General" weightage="20" keywordseo="ICICI-Securities" source="Orion">ICICI Securities</keyword> on Friday reported a one per cent decline in profit after tax (PAT) at Rs 271 crore for three months ended June 2023. In comparison, the company reported a PAT of Rs 273.6 crore in the year-ago period, ICICI Securities said in a regulatory filing. The decline in the profit could be attributed to higher expenses, as the broking firm's total expenses shot up by 33 per cent to Rs 570 crore in the quarter under review. However, the company's total revenues rose by 18 per cent to Rs 934 crore in the first quarter under review, from Rs 795 crore in the April-June quarter of financial year 2022-23. During the quarter under review, the company added 2.1 lakh clients, taking its overall customer base to 93 lakh. Last month, ICICI Bank approved a proposal to delist ICICI Securities and become a wholly-owned subsidiary of the bank after delisting. ICICI Securities, promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of financial products and investment bank. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different types of services.

ICICI Securities Q1 2023-24 PAT dips 1%, revenues surge 18%

New Delhi, Jun 12 () IT firm Hexaware on Friday said its board has approved the appointment of ICICI Securities as merchant banker for delisting of the company from stock exchanges. Earlier this month, Hexaware promoter firm HT Global IT Solutions Holdings had expressed its intention to voluntarily delist Hexaware's shares from Indian bourses. In a regulatory filing on Friday, Hexaware said its board has approved the appointment of ICICI Securities Ltd (merchant banker) for the purposes of carrying out the due diligence. "After the receipt of the due diligence report by the merchant banker, the board will meet again to discuss and take a decision on the delisting proposal," it added. The board has also authorised identified personnel to take all necessary steps to procure from the stock exchanges details of trading in shares of the company for a period of two years prior to June 12. They will also provide details of off-market transactions by such shareholders for a period of two years and any other necessary information that the merchant banker deems fit in connection with the due diligence. Shares of Hexaware were trading 1.44 per cent higher at Rs 324.20 apiece on BSE in afternoon trade on Friday. The promoters have offered Rs 285 per share (indicative offer price) for the delisting proposal. The indicative offer price represents a premium of 9.8 per cent (for BSE) and 10 per cent (for NSE) over the closing market price as on June 4, 2020, on the stock exchanges, Hexaware had said in its June 5 filing. As on March 31, 2020, the promoters held over 18.63 crore shares, representing 62.4 per cent of the equity share capital of Hexaware. SR ANS ANS

Hexaware board approves appointment of ICICI Sec as merchant banker for delisting

<ul><li>The value per share of Vedanta’s stake in Hindustan Zinc Ltd itself is ₹137 apiece and the book value of the was ₹178 as on Sept 30,2019 , according to a note from HDFC Securities.</li><li>Now, the minority shareholders have to approve the delisting at the given price and there should be twice the number of smaller investors in favour of the delisting than those against. </li><li>Voluntarily delisting cannot happen if minority shareholders do not sell their share. </li></ul>The shares of Vedanta Resources fell nearly a percent and a half on Tuesday morning (May 19) after the Board of Directors approved the delisting of the stock at ₹87.5 a piece. The process will cost $2.1 billion to buy out at least 90% of the shareholders at the current price. <div type="image" title="vedanta stock chart" msid="75818634" hostid="261" caption="&amp;lt;p&amp;gt;The value per share of Vedanta&amp;#8217;s stake in Hindustan Zinc Ltd itself is &amp;#8377;137 apiece. The book value of Vedanta as on Sept 30, 2019 was &amp;#8377;178, according to HDFC Securities.&amp;lt;/p&amp;gt;"></div> The promoter group currently owns 50.14% stake in Vedanta while the rest is held by institutional investors and minority shareholders. The promoter group has made an offer to acquire all the balance shareholding, at least 90% of all shares, for the voluntary delisting of the company from stock exchanges. <div type="Article" hostid="261" msid="75818116" title="Billionaires Azim Premji and Kiran Mazumdar Shaw argue against the labour ‘reforms’ in Indian states⁠— and they are not alone" mstype="2" mssubtype="0"></div> Is this a fair price? The value per share of Vedanta’s stake in Hindustan Zinc Ltd itself is ₹137 apiece. The book value of Vedanta as on Sept 30, 2019 was ₹178, according to a note from HDFC Securities to its clients. Therefore, the delisting price has to be a lot higher than the one decided by the Board of Vedanta. "The announcement of delisting comes at cyclical lows and we believe at a significant discount to the fair value, especially when oil, zinc, aluminum, lead all have taken a beating due to the pandemic and greenshoots of recovery have started emerging in China," broking firm Emkay said in a report dated May 13. <table style="width: 343pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:182pt">Brokerage</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 161pt;">Target price for Vedanta</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Motilal Oswal</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> ₹85</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emkay</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> ₹112</td> </tr></tbody></table> What are the next steps? Now, the minority shareholders ⁠— there should be twice the number of smaller investors in favour of the delisting at the given price ⁠— have to approve this resolution through postal ballot. Agarwal, whose net worth is about $3.1 billion according to Forbes, will also need clearance from the regulators in India and the US as well as its creditors and stock exchanges. It will then set a final floor price and initiate a reverse book building process. What are the options for Vedanta's shareholders? For those who are not happy with the price offered by the promoters of Vedanta, not participating in the buyback is an option. "In case the delisting happens at a higher price, they still have the chance to offer the shares in six months post the actual delisting at the same price. In case the delisting fails, the shareholder does not lose anything; the shares are in the demat account and he has the chance to sell them in the market when the buyback offer is close to ending at a much higher price that the indicative offer price," HDFC Securities said. Voluntarily delisting cannot happen if minority shareholders do not sell their share. Who has enough muscle to protest? Big investors like mutual funds, foreign institutions, and the state-owned giant Life Insurance Corporation of India have enough stake to force a bargain. <div type="image" title="vedanta shareholding" msid="75809933" hostid="261" caption="&amp;lt;p&amp;gt;Vedanta promoters need to buy back at least 90% of all the shares in the market. &amp;lt;/p&amp;gt;"></div> "These institutions will expectedly play a role in ensuring that the delisting happens at a fair price which is much above the indicative delisting price of ₹87.50," the report added. <table style="width: 343pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:182pt">Mutual Fund</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 161pt;">Stake in Vedanta</td> </tr> <tr> <td class="xl66" style="height: 26.25pt; border-top-width: initial; border-top-style: none; width: 182pt;">ICICI PRUDENTIAL EQUITY ARBITRAGE FUND</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">5.03%</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 182pt;">HDFC INFRASTRUCTURE FUND</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.47%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">SBI ARBITRAGE OPPORTUNITIES FUND </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.12%</td> </tr></tbody></table>*Source: BSE What makes Vedanta more attractive is the recent reforms announced by the government, though the benefits will flow in over the long term. Some of the major highlights include: <ul><li>A seamless, comprehensive exploration-mining-production policy will be introduced for non-coal minerals like iron ore, bauxite etc. </li><li>The distinction between captive and non-captive mines and that will help transfer mining leases and the sale of unused minerals. Companies will be allowed to transfer the mining lease. </li><li>The Ministry of Mines is in the process of mineral index. Stamp duties will be rationalised at the time of auction. </li></ul> These policy changes may push investors to expect the shares to be more valuable in the long term and seek better price from Anil Agarwal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/foreign-investors-fpi-sold-shares-despite-modi-20-lakh-crore-stimulus/articleshow/75807397.cms">Foreign investors sold shares worth over a billion dollars in the last four trading days⁠ while India was unveiling it’s ₹20 lakh crore stimulus</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/indusind-icici-bank-hdfc-bank-and-sbi-among-top-10-losers-in-nifty-bank/articleshow/75805726.cms">From IndusInd to ICICI Bank to SBI ⁠— banks were among the worst-hit despite the government pause on new bad loans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/share-price-impact-on-hul-d-mart-maruti-tata-motors-as-per-goldman-sachs-china-data/articleshow/75786721.cms">Goldman Sachs’s China recovery data can spark hope for HUL and D-Mart, and make Maruti, Tata Motors and IndiGo more anxious</a>

Vedanta shareholders aren't thrilled⁠— stock slides after Board approved delisting at ₹87.5 a piece

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

<ul><li>At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global peers, Indian stock-market indices are likely to open on a muted note on Thursday. At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50. However, the Dow Jones Industrial Average rose 0.3%, to 28,331.92 on Wednesday, on the back of a strong rally in tech-related shares. These are the stocks to watch out for during the trading session on Thursday: ICICI Bank ICICI Bank on Wednesday said it would sell up to 2% of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value ₹5 each of ICICI Securities Limited (company), representing up to 2% of its issued and paid-up equity share capital, through an open market sale,” the bank said in a regulatory filing. The shares of ICICI Bank ended nearly a percent higher on Wednesday. Oberoi Realty, Godrej Properties and other real estate stocks The Maharashtra government has decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021 to March 31 2021. The shares of Oberoi Realty ended nearly 2% lower on Wednesday, whereas Godrej Properties was down nearly a percent. Hindustan Aeronautics Limited The Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). “The Defence Ministry has notified the stock exchanges in the evening on selling 15% of its equity stake (5.01-crore shares) in the company at ₹1,001 per share of ₹10 face value through OFS,” a company official <a href="https://www.sify.com/finance/govt-to-sell-15-stake-in-hal-through-sale-offer-news-news-ui0skQhedbahj.html">told IANS</a>. The shares of HAL ended nearly a percent higher on Wednesday. Mahindra and Mahindra Limited Automobile major Mahindra &amp; Mahindra and e-mobility technology company REE Automotive has entered into a memorandum of understanding (MoU) to explore development and manufacturing of commercial electric vehicles for global markets. “The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market,” the company said. The shares of M&amp;M ended over 1% higher on Wednesday. Infosys Infosys has launched an AI-driven solution that will automate help desk operations, allow customers to eliminate manual resolution and build near-touchless contact centres in the Covid-19 times. Infosys partnered Blue Prism, a leading Robotic Process Automation (RPA) provider and a strategic partner, to build the ‘Cognitive Email Workbench’ solution. The shares of Infosys ended nearly 2% higher on Wednesday. Rossari Biotech SBI Mutual fund increased its stake in Rossari Biotech from 4.80% to 5.25%. The shares of Rossari Biotech ended nearly 2% lower on Wednesday. Allcargo Logistics The board of directors of Allcargo Logistics will meet today to consider and approve the voluntary delisting of shares The shares of Allcargo Logistics ended nearly 2% lower on Wednesday. Jindal Stainless Jindal Stainless’ board approved raising up to ₹162.8 crore through issue of convertible equity warrants. “The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to ₹162.8 crore on preferential basis,” the company said in a filing to the stock exchanges. The shares of Jindal Stainless ended nearly 3% higher on Wednesday. ITC, VST Industries and Godfrey Phillips For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment (FDI) in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The shares of ITC ended nearly a percent lower on Wednesday. Indraprastha Gas The company reported 88% fall in its net profit to Rs 35.2 crore for the first quarter ended June 30. The company's total revenue declined 58.9% to Rs 638 crore. The shares of Indraprastha Gas ended flat on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/mars-spotted-first-time-by-uae-hope-probe-on-its-maiden-voyage-in-space/articleshow/77775267.cms" data-type="tilCustomLink"> UAE’s Hope probe spots Mars for the very first time on its maiden voyage through space</a> <a href="https://www.businessinsider.in/tech/news/apples-new-iphone-operating-system-is-making-it-harder-for-facebook-to-track-people-and-facebook-warns-it-will-decimate-part-of-its-business/articleshow/77769482.cms" data-type="tilCustomLink">Apple's new iPhone operating system is making it harder for Facebook to track people, and Facebook says it will decimate part of its business</a>

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

<ul><li>Indian stock market indices opened in green on Tuesday.</li><li>Sensex was trading 0.41% higher at 38,956.39; while the Nifty50 was up 0.41% at 11,513.15 points. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex advanced over 200 points in early trade on Tuesday, tracking gains in financial stocks amid largely positive trends in the global markets. The Sensex was trading 0.41% higher at 38,956.39; while the Nifty50 was up 0.41% at 11,513.15 points. IndusInd Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by SBI, Bajaj Finance, Bajaj Finserv, Axis Bank, ICICI Bank, HDFC, M&amp;M and Maruti. On the other hand, HCL Tech, Nestle India, UltraTech Cement and Tech Mahindra were among the laggards. These are the top stocks that are buzzing on D-street today: LIC Housing Finance shares surge 10% <div type="image" title="Lic" msid="77735353" hostid="261"></div> LIC Housing Finance Ltd (LICHFL) shares jumped 10% during the early trade minutes on Tuesday after the company reported a 34% jump in its net profit to ₹817.48 crore for the quarter ending June 30. The total income of the company rose 3.4% to ₹4,977.49 crore in April-June 2020. Globus Spirits hit 5% upper circuit <div type="image" title="Globus" msid="77735395" hostid="261"></div> The shares of Globus Spirits hit 5% upper circuit in the early hours of trading after the company’s net profit rose 161.45% to ₹18.72 crore in the quarter ended June 30. Indiabulls Housing Finance up over 3% <div type="image" title="India bulls" msid="77735466" hostid="261"></div> Indiabulls Housing Finance shares gained nearly 3% after the <a href="https://www.business-standard.com/article/companies/indiabulls-housing-in-talks-with-oaktree-to-raise-200-million-in-debt-120082401715_1.html">news reports surfaced </a>suggesting that it is in the final stages of negotiating a deal with Oaktree to raise $200 million in debt. Allcargo Logistics hits 20% upper circuit <div type="image" title="Allcargo" msid="77735496" hostid="261"></div> The share of Allcargo Logistics hit 20% upper circuit on August 25 after promoters proposed to delist the company shares as part of its efforts to pare debt, the company said in a stock-exchange filing on August 24. GMR Infra down 2% <div type="image" title="GMR Infra" msid="77735515" hostid="261"></div> GMR Infra shares slumped 2% after the company said the board would consider raising of funds of up to ₹5000 crore in one or more tranches, through the issue of securities as an enabling resolution as per the requirements of applicable laws which shall be subject to the approval of shareholders. Future Retail advanced 5% <div type="image" title="Future Retail" msid="77735543" hostid="261"></div> Kishore Biyani-led Future Retail shares surged 5% after the company averted a default as it repaid around $14 million (around ₹100 crore) interest on foreign bonds to investors. The 30-day grace period for repaying the interest on ‘5.60 per cent Senior Secured Notes due 2025’ was to end on Monday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-on-tuesday-future-retail-adani-enterprises-wipro-axis-bank-gmr-infra-lic-housing-finance-and-more/articleshow/77733156.cms" data-type="tilCustomLink">Top stocks to watch on Tuesday— Future Retail, Adani Enterprises, Wipro, Axis Bank, GMR Infra, LIC Housing Finance and more</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-wants-to-increase-data-prices-to-100-per-gb-sunil-mittal-asks-subscribers-to-prepare-to-pay-a-lot-more/articleshow/77734318.cms" data-type="tilCustomLink">Airtel wants to increase data prices to ₹100 per GB, Sunil Mittal asks subscribers to ‘prepare to pay a lot more’</a>

You Searched For "ICICI Securities delisting" and got 7 results

ICICI Securities hit 52-week high as board to consider delisting proposal on Jun 29

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ICICI Securities Q1 2023-24 PAT dips 1%, revenues surge 18%

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Hexaware board approves appointment of ICICI Sec as merchant banker for delisting

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Vedanta shareholders aren't thrilled⁠— stock slides after Board approved delisting at ₹87.5 a piece

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Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

Navdeep Yadav

Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

Top stock movers on Dalal Street on Tuesday— Future Retail, GMR Infra, Tech Mahindra, LIC Housing Finance, Allcargo Logistics, and more

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You Searched For "ICICI Securities delisting" and got 7 results

ICICI Securities hit 52-week high as board to consider delisting proposal on Jun 29

PTI

ICICI Securities Q1 2023-24 PAT dips 1%, revenues surge 18%

PTI

Hexaware board approves appointment of ICICI Sec as merchant banker for delisting

PTI

Vedanta shareholders aren't thrilled⁠— stock slides after Board approved delisting at ₹87.5 a piece

Sriram Iyer

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

Navdeep Yadav

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

Top stock movers on Dalal Street on Tuesday— Future Retail, GMR Infra, Tech Mahindra, LIC Housing Finance, Allcargo Logistics, and more

Navdeep Yadav

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Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more