RIL: India's biggest company by market capitalisation and UK's BP Plc formalising plans to set up petrol pumps under Jio-BP brand will impact market share of state-owned fuel retailers, Morgan Stanley said in a research report. Reliance and BP last week announced further details of their retail fuel partnership, in which the British firm has taken 49% stake for USD 1 billion.

SBI: India’s largest public-sector lender’s chairman Rajnish Kumar on Sunday said gross non-performing assets and non-performing assets of all banks are expected to decline by 31 March 2020. He also said a working committee has been set up under Indian Banks’ Association to come up with report on ease of doing business for both banks and corporations as far as lending in multiple and consortium banking goes.

IndiGo: The government has stepped up scrutiny of engines on Airbus SE’s A320neo jets, forcing the country’s biggest airline by market share to replace more engines than previously estimated. This could further delay the budget carrier’s expansion plans, according to a Bloomberg report. The government has started “more boroscopic examination of engines manufactured by Pratt and Whitney, Directorate General of Civil Aviation Arun Kumar told Bloomberg.

TCS: Investors may watch this space as the IT major was the highest contributor in market valuation last week. Eight of the 10 most valued domestic companies, including Reliance Industries Ltd, HDFC Bank Ltd and HDFC Ltd, together added a whopping 1.13 lakh crore in market valuation, with IT major Tata Consultancy Services’ market capitalisation surging 56,604.72 crore to stand at 8,33,986.26 crore.

GAIL: Department of telecommunications (DoT) sought 1.72 lakh crore in statutory dues from the state-owned gas utility firm following the Supreme Court's ruling on revenues that need to be taken into consideration for payment of government dues. According to a PTI report, DoT sent a letter to GAIL last month seeking 1,72,655 crore in dues on IP-1 and IP-2 licences and Internet Service Provider (ISP) licence.

OMCs: The government is considering a proposal to allow oil marketing companies (OMCs) charge a premium on retail prices of petrol and diesel to recover their investment in producing less polluting fuel. Public and private sector OMCs have appealed to the petroleum ministry to support a plan to raise consumer prices of auto fuels to help them recover a portion of investments made in upgrading their refineries to produce BS Stage-VI fuel.

UltraTech Cement: India’s largest maker of building material has emerged as the front runner to buy the cement business of Emami Group in an all-cash deal worth 6,500-7,000 crore, sources told Mint. The sale of Emami Cement Ltd has entered the final binding bid round, with LafargeHolcim Group-owned Ambuja Cements Ltd as the only contender to buy the bankrupt firm.

Glenmark Pharma: Glenmark Pharmaceutical Inc, USA said it is voluntarily recalling all unexpired lots of its ranitidine tablets, used to treat ulcers of the stomach and intestines, from the US market. According to a PTI report, the drug maker is recalling the tablets because of the presence or potential presence of N-nitrosodimethylamine (NDMA) levels above the acceptable daily intake levels established by the US Food and Drug Administration.

Jet Airways: The Hinduja Group is still open to acquiring the defunct airline if the conglomerate is indemnified from the airline’s legal liabilities, Gopichand P. Hinduja, co-chairperson of the group told Mint. The Hinduja Group, after showing initial interest, decided to abandon plans to revive the airline that suspended all its operations in April. The company was admitted to the National Company Law Tribunal (NCLT) in June after attempts by lenders to rescue it outside the court had failed.

CARE Ratings: The company, after market hours on Friday, said Rajesh Mokashi stepped down as chief executive officer (CEO) and managing director (MD). This comes five months after Mokashi was, on 18 July, sent on forced leave, as anonymous complaint received by market regulator Securities and Exchange Board of India (SEBI) had alleged that ratings decisions were influenced by the management.

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