Goldman Sachs, 10 others in fray for managing govt s 26.12% stake sale in Tata Communications
The government will sell its entire stake in Tata Communications Ltd (TCL), erstwhile VSNL, through an offer for sale and strategic sale route by March 20, 2021
PTI | February 7, 2021 | Updated 12:14 IST
As many as 11 merchant bankers, including Goldman Sachs, JM Financial and Axis Capital, are in race for managing the sale of the government s 26.12 per cent stake in Tata Communications Ltd.
The government will sell its entire stake in Tata Communications Ltd (TCL), erstwhile VSNL, through an offer for sale and strategic sale route by March 20, 2021.
The merchant bankers would be making presentations before the officials of the Department of Investment and Public Asset Management on February 9, according to a notice posted on the DIPAM website.
Transmission utility PowerGrid on Wednesday filed draft papers for an IPO (initial public offering) of its first InvIT (infrastructure investment trust) for nearly Rs 8,000 crore, making it the first state-run entity to monetise its assets through this route.
Stocks in the news | L&T, Aptech, JK Tyre, ICICI Securities, Wipro, Bharat Dynamics
RPG Life Sciences, Astec LifeSciences, Navin Fluorine International, Vardhman Special Steels, Can Fin Homes, Chennai Petroleum Corporation, Genus Paper & Boards, Indag Rubber are also among the stocks in focus today. Here are some of the stocks in the news today. Larsen & Toubro | The company reported higher consolidated profit at Rs 2,466.7 crore in Q3FY21 against Rs 2,352 crore in Q3FY20, revenue fell to Rs 35,596.4 crore from Rs 36,243 crore YoY. RPG Life Sciences | The company reported sharply higher profit at Rs 12.87 crore in Q3FY21 against Rs 7.9 crore in Q3FY20, revenue jumped to Rs 107.6 crore from Rs 94.4 crore YoY.
Read more about L&T, ICICI Securities, Navin Fluorine in focus on Business Standard. Shares of L&T will be in focus. On a consolidated basis, the infrastructure major s net profit rose 4.87% to Rs 2466.71 crore on 1.78% decline in revenue from operations to Rs 35,596.42 crore in Q3 December 2020 over Q3 December 2019. Profit before
On a consolidated basis, ICICI Securities reported 94.6% jump in net profit to Rs 267 crore on 46.7% rise in total income to Rs 620 crore in Q3 December 2020 over Q3 December 2019.ICICI Securities said its Q3 performance was aided by strong all round performance in equities & allied business, distribution business, private wealth management business, as well as investment banking business. Profit was boosted on account of growth in revenue and improvement in margins.
The brokerage house s profit before tax stood at Rs 357.78 crore in Q3 December 2020, surging 93% from Rs 185.1 crore in the same period last year. Current tax expense spiked by 83% to Rs 89.14 crore in Q3 December 2020 over Q3 December 2019.