Stocks in news: SBI Cards, RIL, HDFC Bank, PNB Housing and more

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Indian market is likely to open lower today as Nifty futures on the Singapore Exchange fell 54 points, or 0.34 per cent lower at 15,746.50. Here’s a look at shares which are likely to remain in news today.

ICICI Bank: S&P Global Ratings has revised its rating outlook on the private lender to stable from negative. The rating agency also affirmed ‘BBB-‘ long-term and ‘A-3’ short-term issuer credit ratings and ‘BBB-‘ long-term issue rating on senior notes.

Authum Investment & Infrastructure: Authum Investment & Infrastructure has received a letter of interest for the buying of stressed non-bank lender Reliance Home Finance Ltd’s (RHFL) assets from the latter’s lead creditor.

Karnataka Bank: The bank has reported to the Reserve Bank regarding frauds in the credit facilities extended earlier to two listed companies-Reliance Home Finance with loan outstanding of  Rs 21.94 crore and Reliance Commercial Finance  Rs 138.41 crore as fraud.

NTPC: The company reported a 258% rise in its standalone net profit to Rs 4,479 crore for the quarter ended March 31, 2021. The company had posted a profit of Rs 1,252 crore in the year-ago period. NTPC’s revenue in Q4 fell 2.5% to Rs 26,567 crore as against Rs 27,247 crore in the year-ago period.

Bharat Petroleum Corporation: The commerce and industry ministry has floated a draft cabinet note seeking views on a proposal to allow up to 100% foreign investment under automatic route in oil and gas PSUs, which have an ‘in-principle’ approval for disinvestment.

PNB Housing: Market regulator Securities and Exchange Board of India (Sebi) has asked mortgage lender PNB Housing Finance to temporarily stop its proposed share sale programme. Investors led by Carlyle Group announced an investment of  Rs 4,000 crore in PNB Housing Finance.

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Reliance Industries: The company is likely to issue an update to investors about the proposed stake sale in its oil-to-chemical (O2C) business to Saudi Aramco and the Jio-Google phone at the annual meeting on June 24. Investors are awaiting an announcement on the pricing and launch timeline of the Jio-Google phone.

SBI Cards and Payment  Services: CA Rover Holdings, an arm of private equity giant, Carlyle has sold 48 million shares or 5.1% stake in SBI Cards and Payment Services for  Rs 4,811 crore in a bulk deal. CA Rover Holdings sold 37. 42 million shares at an average price  Rs 1,002.20 aggregating to  Rs 3,750 crore on NSE and sold 10.58 million shares at  Rs 1,002.64 totalling  Rs 1,061.16 crore.

HDFC Bank: The private lender said its board has given its approval to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC). Board of the Bank has declared a dividend of Rs 6.50 per share for the year ended March 2021.

Sterlite Technologies: The digital networks integrator has said that rapid digitisation is fuelling demand for solutions, both in India and overseas, despite the COVID pandemic.

UCO Bank: The state-owned lender said its board will meet next week to consider raising up to Rs 500 crore as tier-II capital.

Insecticides India: The agro chemical firm reported a consolidated net profit of Rs 21.78 crore in Q4 against net loss of Rs 7.11 crore in the year-ago period.