Stocks to Watch: ESAF SFB, ICICI Bank, Zee Entertainment, Apollo Hosp, JSPL
ESAF Small Finance Bank: ESAF SFB has finalized its share listing on the stock exchange for November 10, with the shares priced at ₹60 per share. The allotment of shares took place on November 9. Market observers note that ESAG Small Finance Bank shares are currently trading at a premium of ₹21 in the grey market.
The bank's public issue was open for subscription from November 3 to November 7, 2023. ICICI Bank/ICICI Securities: ICICI Bank, the second-largest private sector lender in the country, has obtained approval from the Reserve Bank of India to transform ICICI Securities into a wholly owned subsidiary, pending certain conditions. The bank is planning to delist equity shares of ICICI Securities as part of a scheme of arrangement.
In June, the private lender approved the proposal to delist ICICI Securities and operate as a wholly-owned subsidiary following delisting. Zee Entertainment: Talks on the mega-merger between Zee Entertainment Enterprises Ltd and Sony Pictures Networks India (SPNI) have stalled over the latter’s last-minute demand that its executive lead the merged entity instead of Punit Goenka as agreed before. According to two people aware of the matter, failure to reach an agreement by the 21 December deadline may derail the merger, the biggest in India’s entertainment industry.
Apollo Hospitals: Apollo Hospitals Enterprise reported a 14% YoY rise in its net profit to 2.33 billion rupees ( ₹233 crore) in the September quarter of the current financial year. September quarter's profit was led by the increase in the number of patients due to seasonal flu infections. The company also laid out plans to expand its operations.
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