Stocks to watch: HDFC, REC, Infosys, Maytas, Jaiprakash Associates, HCC
India's biggest home finance company, HDFC, will raise Rs 4,000 crore through a qualified institutional placement of non-convertible debentures.
By ET Bureau |
MUMBAI: Oil price moved higher ahead of US inventory data after the US dollar turned weak. New York's main futures contract, light sweet crude for July delivery, was at $70.82 per barrel. Brent North Sea crude for delivery in July moved to $ 70.17 in morning trade.
The Indian rupee strengthened on expectations of capital inflows in the domestic stock market. At 9:05 a.m. the partially convertible rupee was at 47.30/32 per dollar against its previous close of 47.48.
India's biggest home finance company, HDFC, will raise Rs 4,000 crore through a qualified institutional placement of non-convertible debentures. This would make the offering the biggest QIP by a local company. The secured NCDs will have warrants that can be traded separately.
Construction and cement major Jaiprakash Associates plans to raise Rs 2,500-3,000 crore through sale of equity. To raise this cash, the company would be selling some of the treasury shares that it will receive after merging four subsidiaries with itself. Treasury shares are issued to a parent company, after the merger of a subsidiary company with itself.
Australian phone firm Telstra on Tuesday said it has awarded around $1.2 billion outsourcing contracts to Infosys, EDS and IBM, as part of a major vendor consolidation exercise the company started last year. ET had reported in March this year that Infosys has won over $100 million contract from Telstra, and EDS and IBM were front runners for new outsourcing contracts to be awarded by Telstra.
Maytas Infra said that it will soon start work on two airport projects in Karnataka, a rare piece of positive news from a company which was once run by the elder son of the disgraced founder of Satyam Computer Services. The board of Maytas Infra, dominated by government-nominated directors, has cleared plans to start construction of airports in Shimoga and Gulbarga at a total cost of Rs 200 crore.
Promoters of Hindustan Construction Company will not be converting 75,00,000 warrants allotted to them on December 20, 2007.
Rural Electrification Corporation plans to sell 20 per cent equity stake to raise around Rs 3000 crore for funding of power projects, say reports.
The Indian rupee strengthened on expectations of capital inflows in the domestic stock market. At 9:05 a.m. the partially convertible rupee was at 47.30/32 per dollar against its previous close of 47.48.
India's biggest home finance company, HDFC, will raise Rs 4,000 crore through a qualified institutional placement of non-convertible debentures. This would make the offering the biggest QIP by a local company. The secured NCDs will have warrants that can be traded separately.
Construction and cement major Jaiprakash Associates plans to raise Rs 2,500-3,000 crore through sale of equity. To raise this cash, the company would be selling some of the treasury shares that it will receive after merging four subsidiaries with itself. Treasury shares are issued to a parent company, after the merger of a subsidiary company with itself.
Australian phone firm Telstra on Tuesday said it has awarded around $1.2 billion outsourcing contracts to Infosys, EDS and IBM, as part of a major vendor consolidation exercise the company started last year. ET had reported in March this year that Infosys has won over $100 million contract from Telstra, and EDS and IBM were front runners for new outsourcing contracts to be awarded by Telstra.
Maytas Infra said that it will soon start work on two airport projects in Karnataka, a rare piece of positive news from a company which was once run by the elder son of the disgraced founder of Satyam Computer Services. The board of Maytas Infra, dominated by government-nominated directors, has cleared plans to start construction of airports in Shimoga and Gulbarga at a total cost of Rs 200 crore.
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Promoters of Hindustan Construction Company will not be converting 75,00,000 warrants allotted to them on December 20, 2007.
Rural Electrification Corporation plans to sell 20 per cent equity stake to raise around Rs 3000 crore for funding of power projects, say reports.
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