Bank, NBFC stocks in focus

Bank and NBFC stocks will be in focus as the Supreme Court will continue today hearing on two petitions seeking an extension of the moratorium period on repayment of loans and to waive off the interest on interest on the loan amount in view of the COVID-19 pandemic.

Indiabulls Housing Finance said the company is in the process of exploring various options in connection with the partial divestment of its equity shareholding in OakNorth Bank Ltd, in one or more tranches. The divestment shall result in boosting CRAR and shall free up capital to grow the loan book of the company.

Indiabulls Ventures reported consolidated net profit slumped 89.09% to Rs 11.98 crore on 45.25% drop in total income to Rs 390.11 crore in Q1 June 2020 over Q1 June 2019.

Gujarat Ambuja Exports said that the company has acquired 100% Equity shares of Mohit Agro Commodities Processing on 9th September 2020, making it a wholly owned subsidiary of the company.

Texmaco Infrastructure & Holdings' board approved raising up to Rs 250 crore through issue of equity shares and to increase borrowing limit to Rs 800 crore.

Godawari Power & Ispat said that the credit ratings of its subsidiary company Ardent Steel (ASL) has been upgraded by CARE Ratings on the basis of operational and financial performance of ASL for the FY 2019-20 and Q1FY21 on Long Term Bank Facilities Term Loan & Fund based has been upgraded.

Shriram EPC reported a consolidated net loss of Rs 29.85 crore in Q1 June 2020 as against net profit of Rs 6.45 crore in Q1 June 2019. Total income declined 65.86% to Rs 133.73 crore.

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