Asian markets open higher in trade.
Before the market opens, know about the many factors that can have an influence on share prices and on the general trading climate in the stock markets.
The important and interesting developments around the world, happenings in the global markets, sentiments, and the overall news related to a stock or a company are
some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going
Let’s know in detail the factors that could affect the stock markets today.
Important business updates and stocks in news:
Axis Bank: It has issued notice of offer for sale of shares by founder. Floor price for up to 3% offer for sale in bank is set at Rs 689.52/Share. SUUTI has planned to sell 1.98% stake on Feb 12-13. It has option to sell additional 1.02% stake.
PNB: According to sources, the bank will sell the stake in housing finance arm to GA and Varde for Rs 3500cr. The announcement is expected later this week. Existing investor GA may buy an additional 12% , Varde would acquire 10%. PNB will continue holding 10.7%.
Hotel Leelaventure: according to a business report, Brookfield will buy the company's assets for Rs 4500cr. The deal is likely to be announced in the next few days. The company has a debt exceeding Rs 3000cr.
Eveready Industries: As per sources, Energizer Holdings is eyeing controlling stake in Eveready Industries. Energizer already owns the Eveready brand in the US and China, likely to face competition from Duracell. Eveready is the marker leader in batteries in India. The company has a 55% market share in batteries and 75% in the organixed flashlight market.
SBI: According to sources, SBI has got only one bidder for Essar Steel NPA sale till now. BofA ML offers a bid of Rs 1,400 Cr for Essar Steel NPA Chunk. SBI offered to auction Rs 15,431 Cr Essar Steel NPAs. SBI E-Auction for Essar Steel NPAs is said to be completed. Sources claim that BofA will have bid for part of SBI's $2.2 Bn loans to Essar.
Tata Steel BSL: The board has approved issuing Non-Convertible Preference shares up to Rs 12000cr to Tata Steel and/or issue Optionally Convertible Preference Shares up to Rs 12000cr.
Bajaj Auto/Hero MotoCor: According to sources, Bajaj Auto and Hero MotoCorp is in price war for two-wheeler market share. Companies are giving discounts even in a month that typically sees low or no discounts. It wants to claw market share when inventory has been piling up with dealers. Hero MotoCorp published full-page ads on Monday, announcing an attractive insurance scheme. Hero’s move is seen as a defensive strategy to thwart competition from Bajaj Auto.
Alembic Pharma: USFDA has issued 2 observations for Gujarat unit JV.
RIL: RIL will stop production at 2 KG fields as output falls. It hopes on 3 new discoveries having 3 trillion cubic feet of gas reserves.
Indian Overseas Bank: RBI has levied a penalty of Rs 1.5 Cr on bank due to non-monitoring of the end use of funds. Delay in reporting of fraud in respect of one of its borrowers also a reason for the penalty.
Persistent Systems: Persistent Systems has appointed Christopher O’ Conner as CEO Designate. The company says he will join via U.S. arm with effect from Feb. 25.
JK Tyres: The board to consider issuing preference share issue to the promoter group on Feb 14.
Edelweiss Financial Services: Allianz Management will be investing $200 million in the co’s Private Debt Platform.
NTPC: NTPC has signed the term loan of Rs 5000Cr with SBI.
Canara Bank: Govt names Manimekhalai as Executive Director of Canara Bank.
IL&FS: ICAI research body will re-audit IL&FS accounts for FY13-18.
KNR Constructions: KNR Constructions will sell entire shareholding in its SPV with Cube Highways and Infra for Rs34.46 Cr.
IFCI: IFCI will be increasing the benchmark rates for short term loans by 10bps to 9.3%. The benchmark rates for long term loans remains unchanged at 10.75%.
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