Stocks to Watch: RIL, Bandhan Bank, Bharti Airtel, InterGlobe Aviation, IOC2 min read . Updated: 22 May 2020, 08:29 AM IST
- Private-equity firm, KKR, will invest ₹11,367 crore to buy 2.32% stake in Jio Platforms, the digital subsidiary of Reliance Industries
- Bandhan Bank said about ₹260 crore of loans to 65,000 micro borrowers may have been impacted by cyclone Amphan
Reliance Industries: Private-equity firm, KKR Co & Inc, will invest ₹11,367 crore to buy 2.32% stake in Jio Platforms, the digital subsidiary of the Mukesh Ambani-led company. This is fifth such announcement by the firm in a month as part of its plan to become a debt-free by the end of calendar 2020.
InterGlobe Aviation: The company, which owns and operates IndiGo, said it will resume domestic flights from 25 May , in a phased manner, as per government directives. It will operate 97 Kerala reparation flights to West Asia.
Bharti Airtel: The telecom operator has acquired a strategic stake in Voicezen, an early stage startup focused on conversational artificial intelligence (AI) technologies. Bharti Airtel did not disclose the size of the investment.
Bandhan Bank: Kolkata-based private lender, Bandhan Bank, said about ₹260 crore of loans to 65,000 micro borrowers may have been impacted by cyclone Amphan that tore through parts of West Bengal and Odisha. In a filing with the stock exchanges, the bank said it expects the Amphan-affected portfolio to regularise by the December quarter of fiscal 2021.
ONGC/NTPC: The state-owned companies have signed a MoU to set up a joint venture (JV) for renewable energy business. As per the MoU, the firms will explore and set up renewable power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility and ESG (environmental, social and governance)-compliant projects.
Hero MotoCorp: India's largest two-wheeler manufacturer said state-owned insurer, Life InsuranceCorporation of India (LIC), has increased its stake from 5.14% to 7.15% in the company through acquisition of shares from the open market.
JSW Steel: The steel major will today announce its earnings for the March quarter. Separately, chemical maker UPL Ltd, IDFC First Bank Ltd, Godrej Industries will report their Q4 results.
Indian Oil Corporation: The state-owned fuel company has cut the run rate of its Haldia refinery in West Bengal to half its capacity after cyclone Amphan disrupted electricity and fresh water supplies. The refiner will review the supply situation on 22 May to decide on Haldia operations, according to a Bloomberg report.
Edelweiss Financial Services: The company's board approved raising the limit to make loans from ₹10,000 crore to ₹20,000 crore and divestment of company’s investments or assets.
Emami: The company said the Competition Commission of India (CCI) has approved the acquisition of 100% stake in Emami Cement Ltd by Nuvuc Vistas Corporation Ltd, a building material firm.