Stocks in focus on September 11, 2020


New Delhi: Markets ended in green on Thursday led by gains in index heavyweight amidst mixed global cues.The 30-share BSE index ended 646.40 points or 1.69 per cent higher at 38,840.32. The NSE Nifty rallied 171.25 points or 1.52 per cent to 11,449.25.

Here areĀ Stocks in focus on September 11, 2020

Yes Bank

Yes Bank has fully repaid the Rs 50,000 crore provided by RBI as a special liquidity facility (SLF) amid the crisis faced by the lender earlier this year, its Chairman Sunil Mehta said on Thursday. He further said FY21 will be a year of transition for the bank, which has just come out of an unprecedented Rs 10,000 crore bailout led by SBI after setbacks received under the founding team. The government and RBI had replaced the entire board of the lender in March this year and also stopped depositors from accessing their funds for a few days.

Route Mobile IPO

Route Mobile’s initial public offer (IPO) was subscribed 4.15 times on the second day of bidding on Thursday. The Rs 600-crore public offer of Route Mobile, a cloud communications service provider, received bids for 5,05,09,920 shares as against the total issue size of 1,21,73,912 shares, according to data available with the NSE. The category for qualified institutional buyers (QIBs) was subscribed 1.25 times, that for non-institutional investors was subscribed 2.04 times, while retail individual investors” portion was subscribed 6.71 times. The initial public offer comprises of fresh issue of Rs 240 crore and an offer for sale of Rs 360 crore. Price range for the offer, which will close on Friday, has been fixed at Rs 345-350 per share.

Jammu & Kashmir Bank

Jammu & Kashmir Bank on Thursday reported a 65.5 per cent decline in consolidated net profit at Rs 7.30 crore in the three months ended June. It had a consolidated net profit of Rs 21.15 crore in the year-ago period. The bank had posted a net loss of Rs 293.82 crore in the quarter ended March 2020. In the June quarter, total income fell to Rs 2,160.51 crore from Rs 2,257.42 crore in the same period a year ago, according to a regulatory filing.

Hindustan Copper

Hindustan Copper said its board could not deliberate on various proposals, including raising of up to Rs 200 crore via preference shares, at its meeting on Thursday due to paucity of time. The proposals include considering and recommending “to the Ministry of Mines for allowing issuance of 20 lakh preference shares of face value of Rs 1,000 each aggregating to Rs 200 crore of compulsorily convertible preference share for the purpose of meeting expansion/ capex plan and general corporate purpose.” The board also could not take up a proposal to modify the object clause of its qualified institutional placement (QIP) to ”expansion/ capex plan and general corporate purpose” in place of ”expansion/capex plan”.

ITI Ltd

State-owned technology firm ITI Ltd on Thursday said it expects to sign a telecom network contract worth Rs 7,796 crore with the Defence Ministry soon.
The company was declared lowest bidder for the Army Static Switched Communication Network (ASCON) Phase IV tender in 2017.

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Sagar Biswas

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