Tata Steel seeks to increase its annual capacity in India from the existing 34 million tonnes per annum (mtpa) to 55 mtpa, or 73% of its global production, by 2030
NEW DELHI: Here are top ten stocks that may be in the news today.
Bajaj Finance: The consumer lender has brought some relief, as its early update for the June quarter showed that the second wave of the covid pandemic has impacted loan demand less than originally feared. Bajaj Finance added 4.6 million new loans in the June quarter, 15% less than the previous quarter. The lender witnessed a drop in new customers on a sequential basis.
Future Group: Lenders to Future Group are assessing the Kishore Biyani-led group’s ability to sustain operations after a loan moratorium ends in September, two people directly aware of the matter said. The lenders are alarmed by Future Group’s delay in divesting any non-core assets, a crucial part of the loan restructuring process aimed at shoring up its capital base, the people said, requesting anonymity.
IIFL Finance: The non-convertible debenture issue of IIFL Finance unit IIFL Home Finance opened 6 July and closes on 28 July. The issue, which has been rated AA, will offer an effective yield in the range of 9-10%. Tranche one issue includes a base issue size for ₹100 crore with a greenshoe of up to ₹900 crore, aggregating up to ₹1,000 crore. The total shelf size/shelf limit is at ₹5000 crore, IIFL Home said in a release.
Info Edge: The company board has approved the acquisition of Doselect.com run by Axilly Labs Pvt. Ltd. Doselect offers technical assessment services for recruitment and learning purposes. Info Edge will 100% share capital of Doselect.com on a fully diluted basis for ₹21 crore. The acquisition will be realsied subject to certain conditions.
Mahindra & Mahindra: The company has signed a solar power delivery agreement with ReNew Sunlight Energy Pvt. Ltd (RSEPL). M&M has also signed a share subscription and shareholders’ agreement with RSEPL and ReNew Green Energy Solutions Pvt. Ltd under which M&M will subscribe 1,60,74,000 shares, resulting in 31.2% stake in RSEPL.
NMDC: Government’s offer for sale (OFS) of 7.49% stake in the public sector undertaking NMDC Ltd which opened on Tuesday for non-retail investors got to a good start with the issue getting over-subscribed 2.13 times.
SBI: The country’s largest lender SBI will auction two non-performing accounts (NPAs) next month to recover dues of over ₹313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of ₹262.73 crore and GOL Offshore Ltd with ₹50.75 crore dues.
Suzlon: The company denied market murmurs that a large group may be acquiring a controlling interest in the company, calling it speculative and baseless.
Tata Steel: The company seeks to increase its annual capacity in India from the existing 34 million tonnes per annum (mtpa) to 55 mtpa, or 73% of its global production, by 2030, the company said during an investor presentation Tuesday. The India business will also account for 75% of its revenues by 2030, it added.
Tata Motors: Luxury carmaker Jaguar Land Rover Automotive Plc issued a profit warning on Tuesday citing the impact of semiconductor chip shortage on vehicle production, sending parent Tata Motors Ltd’s stock down by as much as 10%. The British carmaker, which saw sales reviving over the last six months, said it will report a negative operating margin and an operating cash outflow of £1 billion this quarter.
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