Focus Stocks: HFC Bank, ICICI Bank, IDBI Bank to be in focus
■ Asian markets opened mixed as investors weighed continuing trade tensions between the US and China. Over the weekend US stock indices closed mostly higher on gains in energy stocks.
■ HDFC and Kotak Mahindra Bank are competing for a controlling stake in PNB Housing Finance as they aim to gain wider coverage in the mortgage market, reports The Economic Times.
■ ICICI Bank on Friday said it had received complaints about 31 loan accounts from an anonymous complainant, on which an enquiry was made and interim report was submitted to the regulator, reports PTI.
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■ The mega-merger deal of Idea Cellular and Vodafone India may not meet the expected 30 June timeline as the telecom department is looking to raise a fresh demand of around Rs4,700 crore, reports PTI.
■ The government has held internal preliminary discussions over a possible infusion of fresh capital in IDBI Bank by Life Insurance Corporation of India (LIC) but no decision has been taken on selling its stake in the bank to the insurer, reports The Economic Times.
■ Godrej Properties Ltd will focus on the top four cities and exit others over a period of time, reports Mint. The group will not launch any new project outside Mumbai, Bengaluru, Delhi-National Capital Region (NCR) and Pune.
