Retail inflation slowed to a three-month low at 6.93% in November but the central bank is unlikely to cut interest rates anytime soon as inflation still remains well above the upper limit of its tolerance level of 6%
Here’s a list of top ten stocks that may be in news on Tuesday:
Kotak Mahindra Bank: RBI has approved the re-appointment of Uday Kotak as managing director of the bank for a further period of three years. The banking sector regulator also approved the appointment of part-time chairman Prakash Apte for three years.
Bharti Airtel: Reliance Jio Infocomm has written to the telecom regulator, alleging that rivals Bharti Airtel and Vodafone Idea are carrying out unethical and anti-competitive mobile number porting to capitalise on the ongoing farmers’ protest. To counter Jio, Airtel and Vi have called the allegations “baseless", urging the regulator to dismiss them.
Bharat Petroleum Corporation: A high-powered committee will, on Tuesday, evaluate preliminary bids received from mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital's arm Think Gas for buying the government's 52.98% stake in BPCL. Last week, an inter-ministerial meet was held to discuss the BPCL valuation process.
Dewan Housing Finance: Global alternative asset investor Oaktree Capital Management has emerged as the highest bidder for the bankrupt financier, beating Adani Enterprises Ltd and Piramal Group. Erstwhile promoter Kapil Wadhawan had also offered a proposal for repayment to the creditors of DHFL.
Tata Steel: The company has increased its shareholding in Tata Steel Minerals Canada to 82% after acquiring 4.32% additional equity in TSMC via share swap and other inter-company adjustments.
Dr Reddy’s Lab: The company's partner and co-developer of Sputnik V vaccine Russian Direct Investment Fund has said the third interim data on the vaccine’s phase 3 trial in Russia showed that the adenovirus vector jabs were 91.4% effective at preventing covid-19. DRL in partnership with RDIF would conduct clinical trials of the vaccine in India and, after regulatory approval, distribute the first 100 million doses in the country.
JSW Steel: Periama Holdings, LLC, a wholly owned indirect subsidiary, has approved the issuance of $250 million aggregate principal amount of its 5.95% notes, due 2026, which are guaranteed by the company.
Tata Consultancy Services: The IT services major said it has expanded its strategic partnership with Star Alliance, the world''s largest airline alliance. The partnership with Star Alliance spans over 15 years and multiple geographies.
Shriram City Union Finance: The financier said it will raise up to ₹200 crore by issuing bonds on private placement basis. The banking and securities management committee of the company has approved issue of non-convertible debentures for an amount of ₹100 crore with green shoe option up to ₹100 crore, aggregating up to 2,000 NCDs.
NMDC: The state-owned company on Monday announced that it will be offering ₹1,378-crore share buyback to investors for a period starting 17 December and closing on 31 December.
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