Stocks in focus on July 10, 2020

Here are Stocks in focus on July 10, 2020

Stocks in focus on July 10, 2020

New Delhi: Markets ended in green on Thursday led by rally in banking, financial stocks.

The Sensex rallied 408.68 points or 1.12 percent to end at 36,737.69 while the NSE Nifty jumped 107.70 points or 1.01 percent to finish at 10,813.45.

Here are Stocks in focus on July 10, 2020

SBI

The country’s largest lender, State Bank of India has reduced its marginal cost-based lending rate (MCLR) by 5-10 bps (0.05% to 0.10%) for shorter tenor loans (i.e., up to three months). The new rates will be effective from July 10, 2020.

TCS

The country's largest software services firm TCS on Thursday reported a 13.8 per cent decline in June quarter consolidated net profit at Rs 7,008 crore on revenues being impacted by the coronavirus crisis. It expects revenues to touch pre-COVID-19 levels only by the January-March quarter of this fiscal.

Punjab National Bank

State-owned Punjab National Bank (PNB) on Thursday said its board has approved a proposal to raise Rs 10,000 crore through a mix of both equity and debt. Besides, the board has cleared opening balance sheet of the amalgamated bank as on April 1, which is post amalgamation of Oriental Bank of Commerce and United Bank of India into PNB, the bank said in a regulatory filing.

YES Bank

Private sector lender Yes Bank on Thursday said it has filed a red herring prospectus to raise up to Rs 15,000 crore through issuance of fresh equity shares in its further public offering (FPO). The offer will open on July 15, 2020 and close on July 17, 2020. Earlier this week Yes Bank had received approval from the capital-raising committee (CRC) of its board of directors to raise funds through the offering.