STOCKS IN ACTION 20 NOVEMBER
Larsen & Toubro: Qatar's General Tax Authority has imposed a penalty of Rs 111.31 crore for 2016–2017 and Rs 127.64 crore for 2017–2018. An appeal has been filed against the levy of this penalty, as the company believes it is arbitrary and unjustified.
RITES: RITES emerged as the lowest bidder in two tenders from CFM Mozambique. Out of the two tenders, one is for the supply of 10 diesel electric locomotives with incidental service of Rs 3.7 crore, and the other is for the supply of 300 high-side wagons.
Bajaj Finance: The company stopped sanctioning and disbursing loans under its two lending products, namely, ‘eCOM’ and ‘Insta EMI Card’, until the deficiencies observed by the RBI were rectified to their satisfaction.
Sterling And Wilson: Disputes between Sterling and Wilson International FZE, Dubai and Jinko Solar have been amicably settled.
Dalmia Bharat Sugar: The company informed that there is disruption of operations at Kolhapur and Ninaidevi units in Maharashtra due to farmers' agitation. Consequentially, there could be a material impact. The company said it is taking all possible steps to restore normalcy.
SBI Cards and Payment Services: The capital adequacy is expected to decline by 400 basis points on account of the RBI's revised credit risk weights. The bank is well capitalised as of now and well above the regulatory guideline of 15%. It has enough sources and a diversified lender base to manage its impact, and it doesn't foresee a significant impact on the cost of funds during this fiscal
IndusInd Bank: The RBI has approved the appointment of Arun Khurana as whole-time executive director for a period of three years with effect from Nov. 16.
Remsons Industries: The company will consider and approve the proposal for raising funds by way of the issuance of equity shares or any other eligible securities/warrants convertible.
Aurobindo Pharma: A USFDA inspection at its facility in Telangana from Nov. 13 to 17 closed with zero observations and a classification of 'No Action Indicated'.
Exide Industries: The company settled the chloride trademark dispute with the UK's Vertiv Group and India's Vertiv Energy. VCGL and VEPL shall not use the said 'CHLORIDE' mark in India, either directly or indirectly, and shall withdraw all their claims over this mark in favour of Exide.
Kalyan Jewellers: Unit Kalyan Jewellers FZE acquired the remaining 30% stake in Kalyan Jewellers LLC, Oman, on Nov. 16. Kalyan Jewellers LLC, Oman, has become a wholly owned subsidiary of Kalyan Jewellers FZE.
Larsen & Toubro: Qatar's General Tax Authority has imposed a penalty of Rs 111.31 crore for 2016–2017 and Rs 127.64 crore for 2017–2018. An appeal has been filed against the levy of this penalty, as the company believes it is arbitrary and unjustified.
RITES: RITES emerged as the lowest bidder in two tenders from CFM Mozambique. Out of the two tenders, one is for the supply of 10 diesel electric locomotives with incidental service of Rs 3.7 crore, and the other is for the supply of 300 high-side wagons.
Bajaj Finance: The company stopped sanctioning and disbursing loans under its two lending products, namely, ‘eCOM’ and ‘Insta EMI Card’, until the deficiencies observed by the RBI were rectified to their satisfaction.
Sterling And Wilson: Disputes between Sterling and Wilson International FZE, Dubai and Jinko Solar have been amicably settled.
Dalmia Bharat Sugar: The company informed that there is disruption of operations at Kolhapur and Ninaidevi units in Maharashtra due to farmers' agitation. Consequentially, there could be a material impact. The company said it is taking all possible steps to restore normalcy.
SBI Cards and Payment Services: The capital adequacy is expected to decline by 400 basis points on account of the RBI's revised credit risk weights. The bank is well capitalised as of now and well above the regulatory guideline of 15%. It has enough sources and a diversified lender base to manage its impact, and it doesn't foresee a significant impact on the cost of funds during this fiscal
IndusInd Bank: The RBI has approved the appointment of Arun Khurana as whole-time executive director for a period of three years with effect from Nov. 16.
Remsons Industries: The company will consider and approve the proposal for raising funds by way of the issuance of equity shares or any other eligible securities/warrants convertible.
Aurobindo Pharma: A USFDA inspection at its facility in Telangana from Nov. 13 to 17 closed with zero observations and a classification of 'No Action Indicated'.
Exide Industries: The company settled the chloride trademark dispute with the UK's Vertiv Group and India's Vertiv Energy. VCGL and VEPL shall not use the said 'CHLORIDE' mark in India, either directly or indirectly, and shall withdraw all their claims over this mark in favour of Exide.
Kalyan Jewellers: Unit Kalyan Jewellers FZE acquired the remaining 30% stake in Kalyan Jewellers LLC, Oman, on Nov. 16. Kalyan Jewellers LLC, Oman, has become a wholly owned subsidiary of Kalyan Jewellers FZE.
