Fresh corporate bankruptcy filings for loans defaulted during the pandemic will remain suspended till the end of this fiscal, with the Centre extending the ongoing freeze. The Insolvency and Bankruptcy Code was initially suspended for six months from 25 Mar, which was then extended till 24 Dec
NEW DELHI: Here is the list of top 10 stocks that may be in news on Tuesday:
M&M: Mahindra & Mahindra-owned SsangYong Motor Company has filed for bankruptcy in a Seoul court. While there are enough instances of failed overseas acquisitions, the company — bought from a court receivership by an Indian company — heading back to bankruptcy after a decade is unheard of.
Tata Motors: Taking cues from peers, the company has decided to increase prices of commercial vehicles starting January, due to rise in input cost, forex impact.
Aviation stocks: India has suspended flights to and from the UK till 31 December to prevent the spread of a new strain of the coronavirus that is considered to be 70% more infectious. No flights from the UK will land in India, and vice versa, after 22 December. However, international cargo flights and special flights allowed by the Indian aviation regulator will continue to operate.
Telecom stocks: Despite restoration in the pricing power back to the telcos and the next round of tariff hikes being on the cards, debt levels of the industry are expected to rise to ₹4.7 lakh crore by March 2022, according to estimates by ratings firm ICRA.
Future Retail: The Delhi high court permitted Future Retail Ltd to proceed with the sale of its assets to a unit of Reliance Industries Ltd (RIL), leaving it to regulators to decide the fate of the deal, while allowing Amazon.com Inc. to approach appropriate forums to oppose the transaction.
PSU stocks: India plans to set tough financial targets for state-run firms to try to improve their valuations ahead of a push by Prime Minister Narendra Modi to privatise some companies.
Banks and financial stocks: HDFC, ICICI Bank, SBI, Yes Bank, PNB, and HSBC Bank emerged as the top-10 banks in 2020, while Google Pay and PhonePe were the top wallets among the customers, according to a report.
L&T Finance Holdings: The company's subsidiary L&T Capital Markets (Middle East) Ltd has been dissolved and ceased to exist. On 17 July, LTFH had informed about voluntary winding-up of one of its wholly-owned subsidiary incorporated in Dubai to carry on the off-shore wealth management business, subject to applicable laws of the United Arab Emirates.
Coal India: The state-owned miner allocated 25.78 million tonnes of coal in the first eight months of this fiscal under spot e-auction scheme, registering a year-on-year increase of 59.4%.
Max Financial Services: Avendus Absolute Return Fund has bought 16,73,026 shares in the company at ₹653 apiece on the NSE. Separately, Moneyline Portfolio Investments sold 37.40 lakh shares of the entity at ₹654.55 apiece.