6:00 PM Mumbai – Future Retail to raise up to Rs. 2,000 crore to reduce the debt. Indian Hotels received regulatory approvals to raise as much as Rs 1,000 crore through a rights issue. L&T plans to sell 1.6% stake in its financial services unit. SBI to consolidate several subsidiaries.
The Sensex Index slipped 109.80 or 0.4% to close at 25,473.89 The CNX Nifty fell 29.55 to 7,626.85.
Gainers & Losers
rose 0.5% to Rs 21.05 and the company scheduled board meeting on June 18 to decide on preferential share allocation.
Future Retail Ltd
plunged 7.2% to Rs 135 and the retailer plans to raise Rs. 2,000 crore through a preferential issue of shares and warrants to reduce the debt.
Future Lifestyle Fashions
fell 1.3% to Rs 102.15 after the company agreed to acquire 12% stake in Unico Retail, the maker of fashion accessories.
The Indian Hotels Company Limited
increased 0.7% to Rs 100.75 after the company received SEBI approval to raise up to Rs 1,000 crore from rights issue.
Larsen & Toubro Limited
slipped 1.2% to Rs 1,715.75 and the company plans to sell as much as 1.6% stake in its financial services unit for about Rs 204 crore.
The company sought shareholder approval to raise as much as Rs 3,600 crore or $600 million through the sale of shares to institutions.
RDB Realty & Infrastructure Ltd
jumped 2% to Rs 20.40 after the company secured construction contracts worth Rs.287.52 crore from Rajasthan Avas Vikas & Infrastructure Ltd.
State Bank of India
gained 0.9% to Rs 2,690.65 on unconfirmed media reports that the bank intends to merge its three listed and two unlisted associate banks.