NEW DELHI: Here’s a list of the top ten stocks that may be in the news on Monday:
Dependency industries: You have released details related to the division of your oil to chemicals business into a separate entity, six months after you first announced the proposal as a precursor to the sale of a stake. The assets and liabilities of the segment 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 recovery in the domestic car is a long way off. Suzuki’s largest unit, Maruti Suzuki India, has already cut capex plans for this fiscal year.
OSE: The largest bank in the country, the State Bank of India, has proposed a voluntary retirement plan (VRS) that offers an option to employees who do not advance beyond a certain level to move. SBI executives said the framework (scheme) is developed and will be discussed with the government
Vodafone idea: Vodafone Group has maintained its position that it will not invest new shares in Vodafone Idea. This follows the announcement by the Indian telecommunications company to raise funds of up to ₹Rs 25 billion through a combination of debt and equity in one or more tranches, to be used to pay legal fees and invest in network operations to take rivals.
Car stocks: The long-awaited vehicle scrapping policy is in its final stages of approval and will be implemented within a month, Road and Highway Transport Minister Nitin Gadkari said on Saturday.
Manufacturing: A government panel has approved $ 100 billion worth of mobile device export proposals from global manufacturers. Applications from iPhone contractors – Foxconn, Pegatron, Wistron – as well as Samsung, Karbonn, Lava to export mobile phones from the country have been approved by a group of empowered ministers.
Future retail: Fitch Ratings has placed Future Retail Ltd’s issuer default rating of C and the rating of its $ 500 million 5.6 percent senior secured notes due 2025 to C with a recovery rating of RR4 at positive rating observation. This follows the announcement on August 29 that the company has agreed to sell its business to Reliance Retail and Fashion Lifestyle, a subsidiary of RIL.
Aviation Actions: Airlines will provide a full refund immediately for tickets booked during the covid-19 lockdown for domestic or international travel within the lockdown period, civil aviation regulator DGCA proposed in the Supreme Court.
Taxes: The economic disruption led by covid-19 may lead to the reopening of several specific tax agreements that multinational companies (MNEs) have with the Indian tax authorities. These have been approaching the direct tax board to seek clarity on the review of advance pricing agreements, with critical assumptions and pre-set margins that have become irrelevant due to factors such as relocation of people, supply chain disruption , abnormal expenses, change in asset deployment. , assumed risk, etc.
IL&FS: IL&FS, in debt, has proposed to initiate bankruptcy proceedings for two of its offshore companies, ITNL Infrastructure Developers LLC (IIDL) and ITNL International DMCC (IIDMCC), in the courts of the UAE.
.
