The Indian market is likely to open lower on Tuesday on domestic growth concerns amid weak global cues. At 7:05 am, the SGX Nifty was trading 17.50 points or 0.14 percent lower at 12,074, indicating a negative start for the Sensex and Nifty50. Among the stocks in the news today, RBL Bank has launched QIP at a floor price of Rs 352.57, while Biocon and its partner Mylan have jointly launched cancer drug Ogivri in the US. Here are the stocks to watch out for:
RBL Bank: The bank will raise funds by issuing equity shares through the qualified institutional placement (QIP) route. The capital raising committee of the bank approved the floor price for the QIP at Rs 352.57 per equity share, at a 5.5 percent discount on Monday's closing price.
Bank of Baroda: Bank of Baroda will consider raising capital funds through the issue of capital debt instruments on December 5.
Biocon: Biocon and its partner Mylan have jointly launched cancer drug Ogivri, a biosimilar to Herceptin, in the US. The drug will be available in a 420 mg multi-dose vial and a 150 mg single-dose vial and will be used for treatment of all types of breast and metastatic stomach cancers.
Godrej Properties: The company has acquired 20 percent issued and paid-up share capital of Yujya Developers Pvt Ltd.
NMDC: Total November production was down 10.6 percent at 2.94 MT versus 3.29 MT, while sales remained flat at 2.79 MT, YoY.
United Spirits Ltd (USL): The company's board of directors has approved a scheme merger with its majority-owned and listed subsidiary Pioneer Distilleries Ltd (PDL). With the completion of this merger, the non-promoter shareholders of PDL will receive 10 equity shares of USL for every 47 equity shares of PDL, held by them as on the record date.
KEI Industries: The company said that its board of members will consider the Notice of Postal Ballot seeking approval of shareholders for raising of funds in one or more tranches, by issuance of equity shares by way of qualified institutions placement (QIP) on December 5.
Indian Oil Corporation Ltd: Parindu K Bhagat ceased to be an independent director of the company from December 2, 2019.
IFCI: The company said that it received bids for the sale of its entire 2.44 percent stake in the NSE. The sale will be subject to obtaining consent or no-objection of NSE and any other approval, required as per law, the company added.
Jaypee Infratech: Yes Bank has filed a petition before National Company Law Tribunal, Allahabad to initiate the corporate insolvency resolution process against Jaypee Healthcare Ltd, a subsidiary of the company.
GATI Ltd: The board of directors of the company will meet on December 5 to consider fundraising by way of a preferential issue and other related matters.