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NEW DELHI: State-owned Hindustan Copper (HCL) on Thursday said it has raised Rs 500 crore through issuance of shares to institutional investors. The qualified institutions placement (QIP) of Rs 500 crore has been fully subscribed, the PSU said in a statement. The funds from the QIP are proposed to be used to fund the ongoing capex/expansion plan of the company. The QIP of HCL closed on April 12 with wide participation from diverse investors including mutual funds, insurance companies, banks and foreign institutional investors. Launched on April 7, this is the first time issuance of a central public sector enterprise to raise funds by issue of shares via QIP.
Here are the top stocks to track in today s session:
TCS: The IT major s net profit for the March quarter rose 14.9% year-on-year (YoY) and 6.2% quarter-on-quarter (QoQ) to Rs 9,246 crore. Meanwhile, the revenue for the quarter stood at Rs 43,705 crore, up 5.9 per cent YoY and 4.2 per cent QoQ. The biggest takeaway from the Q4 numbers was the order book at $9.2 billion, the highest ever reported by TCS in a quarter since the company started reporting this metric.
Yes Bank: Sebi imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender s AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the Managing Director of Yes Bank, Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga, who were part of the bank s private wealth management team at the time of violation.
Shares of public sector undertaking (PSU) firms continued to be on a roll with the S&P BSE PSU index hitting a 16-month high in Tuesday s intraday trade. The index has rallied 27 per cent since February 1 as the PSU companies and banks got a new lease of life after the government presented the budget for the financial year 2021-22 (FY22). The S&P BSE PSU index hit an intra-day high of 7,292, its highest level since November 2019. In the month of February, the PSU index had posted its biggest monthly gain in nearly seven years. The index rallied 22.5 per cent in February 2021, recording its biggest monthly rally since May 2014, when it had zoomed 24.05 per cent.
Read more about This PSU stock rallies 134% in one month, scales 8-year high on Business Standard. Hindustan Copper hit an eight-year high of Rs 128, up 10 per cent on the BSE in intra-day trade on Wednesday on the back of heavy volumes