SBI, SBI Life, Wipro in focus

Shares of State Bank of India (SBI) and SBI Life Insurance Company (SBI Life) will be in focus. The Executive Committee of the Central Board of Directors of SBI approved the divestment of 2,10,00,000 equity shares constituting 2.1% stake in SBI Life to achieve Minimum Public Shareholding of 25% (remaining part of bank's share for MPS) through offer for Sale process through Stock Exchange mechanism as per the regulatory prescription.

SBI Life Insurance Company said that SBI (promoters of the company) proposes to sell shares on 12 June 2020 (for non-retail investors only) and on 15 June 2020 (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids), through the separate designated window of the Stock Exchanges. The floor price for the sale is Rs 725 per share.

Wipro announced a partnership with CloudKnox Security. The Wipro and CloudKnox joint solution offering enables enterprises to proactively protect and manage their Hybrid and Multi-Cloud infrastructure by continuously detecting and remediating over-permissioned identities.

EID Parry (India)'s consolidated net profit fell 0.53% to Rs 157.23 crore on 16.05% rise in total income to Rs 4,261.02 crore in Q4 March 2020 over Q4 March 2019.

Banco Products (India)'s consolidated net profit surged 257.08% to Rs 17.39 crore on 9.41% fall in total income to Rs 338.61 crore in Q4 March 2020 over Q4 March 2019.

Sundram Fasteners' consolidated net profit dropped 51.6% to Rs 54.57 crore on 26.96% fall in total income to Rs 836.08 crore in Q4 March 2020 over Q4 March 2019.

KSB's consolidated net profit dropped 34.34% to Rs 10.90 crore on 7.96% fall in total income to Rs 270.40 crore in Q4 March 2020 over Q4 March 2019.

DIC India's net profit dropped 57.79% to Rs 2.41 crore on 14.37% fall in total income to Rs 174.69 crore in Q1 March 2020 over Q1 March 2019.

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