Market Commentary - Stock Alert
Stocks in News: Bharti Airtel, Tech Mahindra, Godrej Properties among others As on : 27-Jun-23  08:12

Bharti Airtel: Bharti Airtel announced changes to its leadership team in Airtel Business. Ajay Chitkara, CEO Airtel Business, has decided to move on from Airtel. He will continue with the company until the third week of August 2023. Consequently, Airtel Business will operate as three business and channel segments - Global business, led by Vani Venkatesh, Domestic business, led by Ganesh Lakshminarayanan, and Nxtra Data Centers, led by Ashish Arora.

Tech Mahindra: The company's step down subsidiary LCC France SARL has approved a proposal to divest its 49% holding in SARL Djazatech along with its wholly owned subsidiary EURL LCCUK Algerie. There was no contribution in terms of turnover or net worth in the consolidated turnover or net worth of the Company from these entities, therefore it was decided to divest to optimize the compliance cost and risks.

Godrej Properties: The board of directors of the company has approved the Placement Memorandum for issuance of Rated Listed Unsecured Redeemable Non-Convertible Debentures worth Rs 750 crore.

Navin Fluorine International: A meeting of the board of directors of the company is scheduled to be held on 30 June 2023, to discuss and consider a proposal for raising funds by way of issuance of equity shares.

BLS International Services: The company informed that board of directors of its subsidiary BLS E-Services approved fund raising by way of an Initial Public Offering (IPO) of its equity shares. The size of the offer, price and other details of the proposed IPO will be determined in due course.

City Union Bank: The bank's board approved the agenda for raising further capital through QIP Route to the tune of Rs 500 crore.

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