Stocks in focus on August 27, 2020 | Markets News

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New Delhi: Markets ended in green for the fourth consecutive session on Wednesday amidst persistent foreign fund inflows.

The BSE Sensex ended 230.04 points or 0.59 per cent higher at 39,073.92 while the NSE Nifty finished higher by 77.35 points or 0.67 per cent to 11,549.60.

Here are Stocks in focus on August 27, 2020

ICICI Bank

ICICI Bank on Wednesday said it will sell up to 2 per cent of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value Rs 5 each of ICICI Securities Limited (company), representing up to 2 per cent of its issued and paid-up equity share capital, through an open market sale,” ICICI Bank said in a regulatory filing.

HAL

The Union Government is selling 15 per cent of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at Rs 1,001 per share to raise about Rs 5,000 crore through an offer for sale (OFS). The sale price of Rs 1,001 per share is a 15 per cent discount of the scripa¿s Wednesday`s closing price of Rs 1,177.75 on the BSE. The government is expected to raise about Rs 5,000 crore from the sale offer on August 27-28.

Siemens 

Engineering firm Siemens Ltd on Wednesday said its board has approved sale of its mechanical drives business to Siemens AG’s arm Flender Drives for Rs 440 crore. Flender Drives Private Limited is a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG. “The Board of Directors of Siemens Limited has approved the sale and transfer of its Mechanical Drives (MD) business for a consideration of Rs. 4,400 million (Rs 440 crore) to Flender Drives Private Ltd, subject to adjustment for the change in net current assets and capital expenditure, subsequent to June 30, 2020 up to the date of actual transfer of the MD business,” Siemens said in a statement.





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