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Stocks in News

December 16, 2021

1) Adani Ports & Adani Transmission: Adani Ports has signed a share purchase agreement with Adani Transmission for divestment of 100% equity stake of MPSEZ Utilities. Both the parties in the transaction belong to the common promoter Adani group. Adani Transmission will buy MPSEZ for Rs 116.27 crore.


2) Vodafone Idea: Vodafone Idea is reportedly targeting a four-fold jump in annual capital expenditure to $2 billion. The management of Vi expects this move to make the company more competitive in the telecom industry.


3) Wipro: Wipro will acquire LeanSwift Solutions for $21 million in an all-cash deal. The deal is expected to be completed by March 2022.


4) ICICI Bank & PNB: The RBI imposed a monetary penalty of Rs 30 lakh on ICICI Bank. This was for violation of rules related to ‘levy of penal charges on non-maintenance of minimum balances in savings bank accounts’.

The RBI also imposed a penalty of Rs 1.8 crore on PNB. This penalty was related to the bank’s shareholding in borrower companies, as pledgee, of an amount exceeding 30% of paid-up share capital of those companies.


5) Sun Pharma: Sun Pharma’s US subsidiary has received final approval from the USFDA for generic Amphotericin B Liposome injection. It is intended to be used in treatment of fungal infections.


6) Tata Steel: India Ratings and Research (Ind-Ra) has upgraded Tata Steel‘s long-term issuer rating to ‘AA+’ from ‘AA’.


7) TVS Motor Company: The auto companies and BMW Motorrad have expanded their partnership to include joint development of new platforms and future technologies.


8) Cipla: Cipla has signed a pact to acquire a 33% stake in renewable energy firm Clean Max Auriga Power LLP for up to Rs 6 crore.


9) Tata Motors & Bandhan Bank: Tata Motors has tied up with Bandhan Bank for retail finance for its range of passenger vehicles.


10) Indigo & Kotak Mahindra Bank: IndiGo airlines has launched a co-branded credit card in partnership with Kotak Mahindra Bank.


11) Power Grid: The company has approved an interim dividend of Rs 7 per share.