Shares of Infosys will be watched. National Bank of Bahrain (NBB), the Kingdom's leading provider of retail and commercial banking services, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced the bank's decision to adopt the Finacle Cash Management Suite to digitally transform its transaction banking business.
Bandhan Bank disclosed after market hours yesterday, 3 August 2020 that its holding company, Bandhan Financial Holdings (BFHL), sold 20.95% stake through secondary market sale to comply with RBI guidelines. Shares of the private lender slumped 10.6% to Rs 308.65. In order to be fully compliant with the licensing guidelines, BFHL diluted its excess shareholding of 20.95%, or 33,73,67,189 equity shares of Bandhan Bank through secondary market sale. Consequently, the shareholding of BFHL in the bank has reduced to 40% of the total paid-up voting equity capital of the bank.
Bank of India said that the capital raising plan was defferred to the next board meeting.
Shares of Yes Bank will be watched. Moody's Investors Service has upgraded Yes Bank's long-term foreign currency issuer rating to B3 from Caa1. Moody's has also upgraded the bank's long-term foreign and local currency bank deposit ratings to B3 from Caa1, and its foreign currency senior unsecured MTN program rating to (P)B3 from (P)Caa1. In addition, Moody's has upgraded the bank's long-term local and foreign currency Counterparty Risk Ratings (CRR) and long-term Counterparty Risk (CR) Assessment to B3 from Caa1 and B3(cr) from Caa1(cr) respectively. At the same time, Moody's has upgraded Yes Bank's Baseline Credit Assessment (BCA) and Adjusted BCA to caa2 from ca. The outlook on Yes Bank's ratings where applicable is changed to stable from positive
Exide Industries reported consolidated net loss of Rs 10.68 crore in Q1 June 2020 as compared to net profit of Rs 161.87 crore in Q1 June 2019. Total income fell 31.26% to Rs 2,537.55 crore in Q1 June 2020 over Q1 June 2019.
BSE Ltd reported 5.88% fall in net profit to Rs 32.34 crore on 3% fall in total income to Rs 138.08 crore in Q1 June 2020 over Q1 June 2019.
KEC International has secured new orders of Rs 1,192 crore across its various businesses.
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