Stocks Corner:
IDBI,PCJEWELLER,RELCAPITAL,RELINFRA
1. The promoters of Dewan Housing Finance Corporation (DHFL)
might sell half of their stake to a 'strategic investor', according
to a Business Standard report. Kapil
Wadhawan, who leads the promoter group, is willing to step down as Managing
Director, if required, to run the company jointly, the article added. The
Wadhawan family currently holds 39.21 percent stake in DHFL.
2. HGINFRA posted a 15.1% YoY growth in revenue
in Q4FY19 to `5.8 bn, due to muted execution. The EBITDA margin was up 46 bps
YoY to 16.1% (116 bps above our estimate), primarily due to a lower
construction cost at 76.6% of revenue, which was partially offset by higher
employee and other expenses. The PAT was up 2.1% YoY to `367 mn (19.5% below
our estimate), due to a higher tax rate of 37.6% vs. 21.1% (Q4FY18).
3. Yes Bank co-founder
Rana Kapoor on June 13 took to Twitter to state that he has no plans to come
back to the bank's board. It was reported by The
Economic Times that Kapoor had written to the bank seeking re-entry to
the board as well as several crores in compensation for a loss of remuneration.
4. India's second largest IT services firm Infosys June 10
said it has set up an experience design and innovation studio in Shoreditch,
London. The facility will provide space for Infosys and its clients to ideate,
collaborate and innovate together by combining design and the latest technology
offerings, including artificial intelligence, augmented reality/virtual
reality, Internet of Things and 5G, Infosys said in a statement.
5. Shares of Bharat Petroleum (BPCL)
plummeted more than 5 percent, while shares of Hindustan Petroleum (HPCL) fell
more than 3 percent intraday on May 21 despite the oil refining majors
reporting strong Q4 numbers.
Stocks in ban period
IDBI,PCJEWELLER,RELCAPITAL,RELINFRA
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