Nifty slips below 10,300 mark; ITC Q4 numbers announced | Top headlines of the day
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Here are the top headlines of the day: 1. Nifty slips at 10,300, Piramal Enterprises accelerates after Carlyle pharma deal -The market today opened to a flat start with Nifty at 10,300 and Sensex at 34,871, with no visible earnings impact and mild outperformance. Piramel Enterprises stocks are expected to accelerate further after news of its Carlyle pharma business deal. FMCG and pharmaceuticals are the only sectors standing tall, while the market is not reflecting the change in numbers of the newsmakers Piramal and ITC as yet. Nifty bank after seeing a terrific run up in earlier days seems to have now cooled its heels and seems pressured right now. There is yet to be a visible decisive trend on the market and its growth outlook. 2.Big boost for Pharma business; Carlyle to invest fresh capital in Piramal Enterprises -There has been a big boost for Pharma business for Piramal Enterprisies. The newsbreak by ET Now has now been confirmed. Carlyle to invest fresh capital for 20 per cent stake in Piramal's Pharma Business. Carlyle will invest $490 million for 20 per cent stake. The 20 per cent stake sale values Piramal’s pharma business at Carlyle’s offer would value the business at around Rs 20,000 crore. The capital will be used for expanding capacity at sites and acquisitions. Here's the management on the key details. 3.HDFC Bank to raise ₹13,000 crore survival capital via share sales, Know why -HDFC Bank has planned to raise around ₹13,000 crore via the issuance of ADR's. The banks are lined up to assure the capital. Big banks like HDFC do not go through a capital issue as they always have a surplus capital. Leading global investors wait for such opportunities where top companies like HDFC when they come out at the market and plan on raising their capital. This is a major move by the top company to keep their balance sheets afloat. ET Now's Nikunj Dalmia explains the reasons behind the fundraising and its impact. Listen to know more details. 4.ITC Q4FY20 numbers out; rise in net profit of 9.1 per cent to Rs 3,926.46 crore recorded -ITC posted its Q4FY20 numbers today. It reported a rise in net profit of 9.1 per cent to Rs 3,926.46 crore for the quarter ended March 31. The profits were boosted by the reduction in corporate tax rates. The margins of the company contracted by 80 bps and stood at 36.5 per cent for the quarter. The cigarette volume also decreased around 10 per cent due to nation-wide lockdown amid the COronavirus pandemic. ITC Ltd has also declared a hefty dividend of Rs 10.15. Here's a review on the company's overall Q4 performance. Listen to know more details. WATCH! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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