Banking Stocks: Supreme Court has adjourned hearing in the loan moratorium case till September 10. Accounts not declared as NPAs as on August 31 shall not be declared so until further orders. Banks need to roll out resolution schemes for Covid-19 induced stressed accounts by September 15, FM Sitharaman told bankers on September 3.
Vodafone Idea: Clarified on the news of Verizon, Amazon may invest over $4 billion on the company stating that as a corporate strategy, the company is evaluating opportunities and currently there is no proposal as reported by media that is being considered by the board. The board meeting to discuss raising of funds to be held today.
Allcargo Logistics: Bloomberg News reports that the company is considering listing its international business on a European exchange, as it weighs its proposal to give up its listing in India. The company may seek a new listing as soon as next year. The company could seek to value the business at $800 million to $850 million in an offering.
The government has imposed an anti-dumping duty on Ciprofloxacin Hydrochloride imports from China for six months. A levy of $0.9-$3.49 per kg has been imposed on the raw material used in making antibiotics. Aarti Drugs, Aurobindo Pharma, Dr Reddy's Laboratories, Neuland Laboratories and Sun Pharma are some of the producers of the antibacterial drug in India.
Gujarat State Fertilizers and Chemicals: Has restarted its methanol plant with an installed capacity of 525 metric tonnes per day. The plant will be operating at its full capacity from September 10 and is expected to produce 470 metric tonnes of Methanol per day. As a result of this, the company’s top-line is likely to grow by Rs 150 crore in FY21.
Infosys: To acquire 100% stake in a product design and development firm Kaleidoscope Innovation for $42 million.
Hindustan Aeronautics: Government proposes to offer 5.02 lakh shares at Rs 950.95 per share to the company’s employees. The offer for sale will remain open from September 4-9.
CreditAccess Grameen: Says that loans under moratorium are now down to 18% in August as compared to 24% in July and 26% in June. Overall collections have also seen an improvement with efficiency rising to 82% in August from 76% in July. The board has also approved raising funds to the tune of 1,000 crore rupees through issue of equity shares.
Tata Power: MD Praveer Sinha stated in a webinar that the company has prepared a roadmap to retire its coal power plants after their shelf life.
Cheviot: To consider share buyback on September 8.
Mindspace Business Parks REIT: To consider raising Rs 500 crore via NCDs on September 14.
Hind Rectifiers: Mumbai manufacturing plant has increased its capacity to 30% from 10%.
Kaveri Seed: Pabrai Investment Funds decreased stake to 5.21% from 7.24% on September 1.
5Paisa Capital: Board approved raising Rs 900 crore via issue of equity shares.
Trident: Has resumed operations at its Budhni plant in Madhya Pradesh.
Videocon Industries: 11 prospective resolution applicants have submitted their resolution plan
Non-Nifty Earnings Today: Jubilant Life Sciences, Repco Home Finance
No comments:
Post a Comment