TCS: Board approved buyback of 5.33 crore shares (1.42% equity stake) at Rs 3,000 per share aggregating to Rs 16,000 crore. Buyback price is at a premium of 9.6% to the closing prices as on Oct.7. V. Ramakrishnan would be retiring from post of CFO with effect April 30, 2021 and will be replaced by Samir Sakaria. Salary hikes to be rolled from Oct.1
Wipro: Board to consider buyback on Oct.13.
Bandhan Bank Sept. Update: Advances up 20% at Rs 76,724 crore, on a year on year basis. And deposits up 34% at Rs 66,153 crore. Liquidity coverage ratio stands at 157% and collection efficiency stands at 92% across all loan categories.
ICICI Pru Life Insurance April-Sept. Update: New business premium down 13.5% at Rs 4,456 crore. Annualized premium equivalent down 32.1% at Rs 2,288 crore.
RBL Bank Sept. Update: Advances down by 3% at Rs 57,295 crore and deposits up 8% at Rs 64,529 crore. CASA deposits grew 21% to Rs 20,060 crore. Liquidity coverage ratio stands at 170.7%.
Lakshmi Vilas Bank: Brickwork Ratings has downgraded the rating from BWR BB+ (credit watch with developing implications) to BWR B+ (credit watch with negative implications) for unsecured tier ii bonds of Rs 50.50 crore. The rating downgrade factors in the rejection of seven directors of the bank, including the interim managing director and chief executive officer of the bank, by the bank's shareholders. Bank's substantially weak capital position and very high levels of gross non-performing assets.
Hero MotoCorp has launched Maestro Edge 125 Stealth will be available at a price of Rs 72,950 per unit in the upcoming festive season.
Shriram City Union Finance: Care Ratings has downgraded ratings for NCDs and fixed deposits from CARE AA+ to CARE AA, outlook changed from to stable from negative. The revision in the long-term rating assigned to the various debt instruments of the company factors in relatively high NPA levels with Stage Ili assets of 7.90% as on March 31 even after considering moratorium benefit given to borrowers.
Infosys has announced automated data science platform to support public health agencies.
Asian Granito to consider share split from Rs 10 to Rs 2 of the face value and raise funds via equity issue on Oct.23.
Future Consumer: Care Ratings has reaffirmed NCDs worth Rs 20 crore as CARE D (Default).
S.Chand is looking to raise funds for its EdTech Platforms, which includes both school and student solutions from investors. For this purpose, the Company has retained LoEstro Advisors LLP, a Hyderabad based firm specializing in transaction advisory in the education space.
CG Power defaulted in fund based working capital, non-fund based working capital and term loans worth Rs 1,193 crore which were due on Aug.27, 2019. Lenders include Axis Bank, Yes Bank, ICICI Bank, Barclays Bank, IndusInd Bank, Bank of India, SBM Bank, SCB and Aditya Birla Finance. Total borrowings from banks and financial institutions stood at Rs 3,004 crore as on Sept.30 .
Wonderla Holidays has named Arun Chittilappily as managing director with immediate effect. Kochouseph Chittilappilly appointed as chairman emeritus.
Indian Bank reduced MCLR by 5 basis points across various tenors with effect from Oct.10. One month MCLR at 7.35% and one year MCLR at 7.50%
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