Vodafone Group has maintained its that it will not invest any fresh equity into Vodafone Idea. SBI has mooted a voluntary retirement scheme that will be discussed with the government
NEW DELHI: Here’s a list of top ten stocks that may be in news on Monday:
Reliance Industries: Has released details related to hiving off its oil-to-chemicals business into a separate entity, six months after it first announced the proposal as a precursor to a stake sale. The segment's assets and liabilities, will be transferred to a new unit.
Maruti Suzuki: Suzuki Motor Corp has deferred plans to sell at least 5 million cars a year in India by 2030 in a grim admission that the recovery in the domestic automotive is far away. Suzuki’s largest unit, Maruti Suzuki India, has already trimmed capital expenditure plans for this fiscal.
SBI: The country's largest bank, the State Bank of India, has mooted a voluntary retirement scheme (VRS) that gives an option to employees who do not get promoted beyond a certain level to move out. SBI executives said the framework (scheme) is developed and will be discussed with the government
Vodafone Idea: Vodafone Group has maintained its stance that it will not invest any fresh equity into Vodafone Idea. This follows the Indian telco’s announcement to raise funds of up to ₹25,000 crore via a mix of debt and equity in one or more tranches, which will be used to pay statutory dues and invest in network operations to take rivals.
Automobile Stocks: The much-awaited vehicle scrappage policy is in its final stages of approval and will be rolled out within a month, road transport and highways minister Nitin Gadkari said on Saturday.
Manufacturing: A government panel has cleared $100-billion worth mobile export proposals from global manufacturers. Applications by iPhone contract makers--Foxconn, Pegatron, Wistron--as well as Samsung, Karbonn, Lava to export mobile phones from the country have been cleared by an empowered group of ministers.
Future Retail: Fitch Ratings has placed Future Retail Ltd's issuer default rating of C and the rating on its 500 million dollars 5.6 per cent senior secured notes due in 2025 of C with a recovery rating of RR4 on rating watch positive. This follows the announcement on 29 August 29 that the company has agreed to sell its business to Reliance Retail and Fashion Lifestyle, a subsidiary of RIL.
Aviation Stocks: Full refund shall be provided by airlines immediately for tickets booked during the covid-19 lockdow for domestic or international travel within the lockdown period, civil aviation regulator DGCA has proposed in the Supreme Court.
Taxes: The covid-19-led economic disruption may lead to reopening of several specific tax agreements that multinational companies (MNCs) have with Indian tax authorities. These have been reaching out to the direct tax board to seek clarity on revising the advance pricing agreements, with critical assumptions and preset margins having become irrelevant on account of factors like relocation of persons, supply-chain disruption, abnormal expenses, change in asset deployment, risk assumed, etc.
IL&FS: Debt-ridden IL&FS has proposed to initiate bankruptcy proceedings for two of its offshore firms - ITNL Infrastructure Developers LLC (IIDL) and ITNL International DMCC (IIDMCC) - in courts of the UAE.