ICICI Securities gets SEBI's go-ahead for IPO

ICICI Bank Ltd has received approval from the Sebi to list its stock brokerage unit, ICICI Securities Ltd. ICICI Securities had filed its DRHPs with SEBI in December and received observations from the regulator on Feb 2, as per the latest update with the markets regulator.

As per the DRHP filed by the company, the IPO comprises sale of 64,428,280 equity shares, amounting to 20% stake, by ICICI Bank. The IPO includes a reservation of up to 32.21 lakh shares for individual as well as HUF shareholders of ICICI Bank. The IPO is expected to garner Rs. 3,000 to 4,000 crore.

SBI Capital Markets, DSP Merrill Lynch, Citigroup Global Markets India, IIFL Holdings, Edelweiss Financial Services and CLSA India are book running lead managers to the issue.

Tata Chemicals Q3 profit rise 3-fold to Rs.759 crore

Tata Chemicals Limited, an Indian global company with interests in chemicals, on Tuesday posted about 3-fold jump in consolidated net profit at Rs. 759.07 crore during the third quarter (Q3) of this fiscal on gains from its North American business.

Tata Chemical’s net profit had stood at Rs. 263.63 crore in the same period of corresponding year, it said. Total income increased marginally to Rs. 2,591.07 crore in the Oct – Dec period of 2017-18 fiscal from Rs. 2,524.44 crore in the year-ago period.

 Shares of Tata Chemicals closed down by 1.99% to settle at Rs. 682.95 on the BSE, while on NSE shares closed down by 1.33% at Rs. 686.20

Bharti Airtel spikes over 5 percent post investment by Singtel

Bharti Airtel on Monday announced that SINGTEL (Singapore Telecom Limited) would invest Rs 2,649 crore in Bharti Telecom, the promoter company of Airtel, via preferential allotment of shares.  With this investment, Singtel's total stake together with its affiliates, in Bharti Telecom would increase to 48.90%.

Singtel presently holds 47.17% stake in Bharti Telecom. Bharti Enterprises continues to hold over 50% stakes in Bharti Telecom.

The move is seen to aid Bharti Airtel Limited in its combat for market share with Reliance Jio.

Shares of Bharti Aitel Limited was trading at Rs. 444.15 per share, up Rs. 21.80 or 5.16% on NSE at 12.20 PM, Monday. Whereas BSE Sensex was at 34,789.95, down 276.80 points or 0.79% and Nifty was at 10,675.15, down 85.45 points or 0.79%