NEW DELHI: Here’s a list of the top ten stocks that may make the news on Tuesday:
Bank actionsThe KV Kamath panel, created by the central bank to suggest debt consolidation rules, has identified five financial parameters to measure the health of struggling sectors. He said banks must ensure that restructured loans meet specific financial parameters by March 2022.
Real estate actions: The Reserve Bank of India has allowed the real estate sector more room for maneuver with the highest debt / Ebitda ratio allowed among the 26 sectors it has identified. While the ratio has been kept at less than or equal to nine for residential real estate, it has been set at less than or equal to 12 for commercial real estate.
Economy: A second round of stimulus measures for the economy is on the table, and the central government is closely monitoring how different industries are recovering so that it can support them when necessary, said a senior government official.
GST: The Union government has clarified that it will fulfill its commitment to compensate the states for the deficit in tax collection. A portion of the compensation promised to the states, of approximately ₹97 billion rupees would be paid immediately.
RIL: Reliance Industries has started preliminary discussions with Facebook and private equity fund KKR, the two entities that bought a stake in RIL-managed Jio Platforms, to also make an investment in its retail business, Business Standard. The two are among 13 who have invested more than $ 20 billion in Jio Platforms for a stake of more than 30%.
OSE: India’s largest lender raised around Monday ₹Rs 4,000 crore of perpetual bonds with a record coupon of 7.74%, a sign that investors are willing to invest in these securities once again after the Yes Bank episode, in which the private lender’s perpetual bonds were canceled under his rescue plan.
Vodafone idea: Indebted Teleco said Monday that it will seek shareholder approval to increase the debt limit to ₹1 lakh crore, at the annual general meeting (AGM) scheduled for September 30. The shareholders of the company, previously listed as Idea Cellular, had approved a debt limit of ₹25,000 crore at AGM in September 2014.
Telecommunications actions: Vodafone Idea Chairman Kumar Mangalam Birla has said that rates in the telecommunications sector are very low despite the hike in 2019, and the reactivation of prices is essential for the growth of the industry.
ITC Ltd: It has said it will expand the capacity of some of its existing facilities as demand for products such as packaged food and health and hygiene items increased amid the pandemic. President Sanjiv Puri said the company was also preparing to meet increased demand for such products even after the crisis is over.
IPO LIC: A proposal to sell up to 25% in the state insurer, India’s largest, in one or more tranches is at stake, Moneycontrol reported, citing government sources. Retail investors have a lot to be happy about because the government is planning a bonus and discount for them, these sources said.
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