The 30-share BSE index fell 694.92 points on Wednesday, ending at 43,828.10. On the other hand, the broader NSE Nifty also fell 196.75 points, reaching 12,858.40. Amid mixed signals from global markets, some companies performed well on Wednesday. Here are actions investors should consider before investing today.
Lakshmi Vilas Bank: The cabinet yesterday approved the merger of Lakshmi Vilas Bank (LVB) with DBS Bank India. DBS India will inject Rs 2,500 crore fresh capital into LVB. In addition, the moratorium imposed on the bank will be eliminated. LVB’s shares will be delisted on November 27, while trading in the bank’s shares will be suspended from Thursday. Now, all LVB branches will operate as branches of DBS Bank India.
Vakrangee: In light of the substantial changes in the business environment over the past few months, the company’s board of directors has withdrawn the plan to merge Vakrangee Logistics and Vakrangee Finserve. The National Court of Company Law has not yet decided on the plan.
Astral Poly Technik: The firm’s board of directors has given its go-ahead to make a foray into the business of manufacturing and marketing plastic water storage tanks. Additionally, it has decided to add new capacity with a total investment not to exceed Rs 75 crore, Bloomberg Quint reported.
Siemens: Bloomberg Quint reported that Seimens’ end-of-September fourth-quarter report shows that its revenue was down 8.9 percent to 3,546.8 crore. The company’s net profit was largely unchanged, witnessing a 1.1 percent drop. The net profit stood at 330.2 million rupees. EBITDA rose 5.5 percent, while margins expanded 180 basis points year-on-year, from 11.1 percent to 12.9 percent.
Kesoram Industries: The company’s resolution plan formulated under the Reserve Bank of India guidelines was approved in principle by the lenders consortium.
Future consumer: The CEO of the company has resigned.
Laurus Labs: The firm is expected to acquire a 72.55 percent stake in a biotech company called Richcore Lifesciences. For this, you will pay Rs 246.67 million.
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