Stocks

What to watch: Info Edge: Shareholders meet on QIP, FII limit

| Updated on August 18, 2014

19blUnitechCol.eps

19blHathCol.eps

19blInfoCol.eps





Shares of Info Edge, owner of recruitment portal Naukri.com, will remain in focus on Tuesday, as the company’s shareholders are meeting to thrash out the QIP issue. The company plans to raise up to ₹750 crore through a qualified institutional placement to expand its real estate classifieds business -- 99acres. Besides, shareholders will also decide on the proposal to hike FII limit to 50 per cent. Currently, FIIs hold 27.96 per cent stake in Info Edge.

F&O ban to keep Unitech under leash

Shares of Unitech will continue to remain in focus, as the NSE imposed a trading ban on its derivative contracts. The NSE has allowed traders only to unwind their existing positions, as open interest positions of Unitech have crossed 95 per cent of the market-wide position limit. The stock, which hit a high of ₹28.35 on August 6, slumped to ₹20.10 after the Central Bureau of Investigation began a fresh probe into the 2G spectrum allocation case last week.

Preferential issue may buoy Hathway

Shares of Hathway Cables & Datacom will remain active as the company seeks shareholder approval to raise ₹300 crore through a preferential allotment of shares. The company will issue 70.5 lakh shares to the Smallcap World Fund Inc and 23.5 lakh shares to the American Funds Insurance Series in one or more tranches at ₹320 a share. The stock of Hathway Cables, in which FIIs currently own 33.14 per cent stake, tumbled 3.34 per cent at ₹265.15.



Published on August 18, 2014

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like