Market Commentary - Stock Alert
SBI, Bank of India, ICICI Lombard to be watched As on : 19-Apr-23  08:40

State Bank of India (SBI): The Executive Committee of the Central Board has approved long term fund raising in single / multiple tranches up to US$ 2 billion through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2023-24.

Bank of India: The bank's board of directors approved the raising of capital for the FY 2023-24 aggregating up to Rs 6,500 crore, through the issue of fresh equity capital in the form of FPO/QIP/Rights issue/preferential issue and/or Basel III compliant additional Tier-1 (AT-1) upto an amount of Rs.4,500 crores, and issue of Basel III compliant Tier-2 bonds upto an amount of Rs.2,000 crore.

ICICI Lombard General Insurance Company: The company reported net profit of Rs 436.96 crore in Q4 March 2023 as compared to net profit of Rs 312.51 crore in Q4 March 2022. Total income rose to Rs 5255.58 crore in Q4 March 2023 from Rs 4636.34 crore in Q4 March 2022.

Pidilite Industries: The company has entered into an agreement with M/s. Basic Adhesives LLC, USA for purchase of certain assets inter-alia comprising of technology, design, trademark, copyright, domain name and trade dress etc at an agreed consideration to be paid by company in tranches over a period of time.

Piramal Pharma: The company informed that US FDA has issued an Establishment Inspection Report (EIR) for the manufacturing facility located at Sellersville, USA and the inspection has now been successfully closed by the US FDA.

Zydus Lifesciences: The company has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Estradiol Transdermal System USP. Estradiol transdermal system is indicated for prevention of postmenopausal osteoporosis.

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