Shares of Suzlon Energy Ltd, Indian Oil Corporation (IOC) and Adani Green Energy Ltd will stay in news on Wednesday early morning ahead of their board conferences on fundraising in the next 2 days.
Sulzon Energy had on Tuesday said that its board of directors would satisfy on Friday to think about and authorize capital raising by method of several or mix of acceptable techniques. The business board will likewise look for approval of the investors, if needed. The statement came post Tuesday’s market hours.
Adani Green Energy will think about raising funds throughout its board conference on Thursday. In a BSE filing, Adani Green had on Monday said its board would think about and authorize the proposition of raising of funds by method of issuance equity shares or any other qualified securities through acceptable modes, consisting of however not restricted to a personal positioning, a competent organizations positioning, preferential concern, or any other technique or mix of techniques as might be allowed under appropriate laws, based on such regulatory/statutory approvals as might be needed and the approval of investors of the Company.
On the other hand, Indian Oil Corporation Ltd (IOC) said a conference of its board members is scheduled on Friday to think about raising of capital through ideal concern of equity shares to satisfy the capital investment prepare for its different jobs. The concern, if thought about, will go through different statutory approvals as might be needed, the biggest state-owned oil refiner in the nation said post market hours.
“As per SEBI (Prohibition of Insider Trading) Regulations 2015, the above, being Unpublished Price Sensitive Information needs closure of trading window for Insiders of the Company. However, it might be kept in mind that the trading window for handling securities is already under closure from 15th July 2023 till two days after the monetary outcomes for the quarter ended 30t June 2023 are submitted with stock market,” IOC said in BSE filing.
IOC is anticipated to report operationally strong June quarter results due to sharp healing in marketing margins, which Prabhudas Lilladher anticipates at Rs 9 per litre (combined margins) versus Rs 3 in the March quarter. It sees revenue for June quarter at Rs 10,347.20 crore versus a loss of Rs 1,992.50 crore in the year-ago quarter. Sales are seen falling 12.7 percent YoY to Rs 1,95,814 crore from Rs 2,24,252 crore in the very same quarter in 2015. Margin is seen at 9.1 percent versus 0.6 percent YoY, Prabhudas Lilladher said in its outcomes sneak peek note.
Meanwhile, the boards of Solara Active Pharma Sciences, Gretex Corporate Services and Tierra Agrotech will satisfy today to think about rights concern. Inflame Appliances and TELEVISION Vision boards will satisfy on Thursday to think about preferential concern of shares. Companies such as Vuenow Infratech and Sharpline Broadcast will think about preferential concern of shares on Friday.
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