Banking & Financial Stocks Under Radar: Canara Bank, IIFL, PNB Housing Finance

  • Investing.com
  • Stock Market News
Banking & Financial Stocks Under Radar: Canara Bank, IIFL, PNB Housing Finance
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Canara Bank (NS: CNBK ): The state-owned lender’s shares will go ex-dividend on Wednesday at Rs 6.5 apiece.

IDBI Bank (NS: IDBI ): The Life Insurance Corporation (NS: LIFI ) subsidiary has hiked interest rates by up to 25 bps on retail term deposits lesser than Rs 2 crore, applicable across various tenors, w.e.f June 15.

PNB (NS: PNBK ) Housing Finance (NS: PNBH ): The NBFC’s board has approved raising about Rs 2,000 crore via bonds (NCD) issuance on a private placement basis.

Yes Bank (NS: YESB ): Subsidiary Yes Securities is bullish about expanding in more cities of West Bengal, and does not foresee any adverse impact on retail investors' interest in the market, despite high volatility and sharp correction, stated reports.

Iifl Wealth Management (NS: IIFW ): The competition watchdog has given a nod to the acquisition of the wealth management company by BC Asia Investments X, acquiring up to a 24.98% stake.

Shriram-City Union Finance (NS: SHCU ): The NBFC major will raise nearly Rs 300 crore via debt securities issuance in one or more tranches as fully paid-up or partially paid-up on a private placement basis.

Indian Overseas Bank (NS: IOBK ): The lender’s board of directors will meet on Wednesday to consider fundraising options.

Spandana Sphoorty Financial (NS: SPAD ): The micro-finance company’s board has approved issuing NCDs of about Rs 40 crore on a private placement basis, at a nominal value of up to Rs 10 lakh/debenture.

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