Stocks in Australia, Japan and South Korea slipped in morning trade
Important business updates and stocks in news:
RIL: RIL lines are up over Rs 10,000 Cr in Bengal for Jio expansion. RIL has already invested Rs 28,000 Cr in West Bengal.
Marico: Mario will soon launch skincare products and has Inked its licensing deal with Kaya. It aims to cut reliance on hair and edible oil and shift focus to the premium portfolio. The Company’s new range will be at a mass premium level for wider distribution.
Aurobindo Pharma: The company is investing Rs 15 Cr for a 19.9% stake in pharma company ‘Synergies Remedy’. The target company is manufacturing API and intermediaries. The acquisition will be completed by end of February.
Jet Airways: Jet Airways has grounded 4 aircraft over non-payment of lease rentals. The 3 aircraft which were grounded for engine normalization are back in commercial operations.
SBI: RBI levied a penalty of Rs1 Cr on the SBI bank. The bank got penalized for non-monitoring of the end use of funds in respect of one of its borrowers.
Coffee Day Enterprises: Coffee Day Enterprises approved to sell equity shares held by the Co., its subsidiary and promoter in ‘Mindtree’. The company said in its disclosure of actual sale that it will be reported to the exchanges as and when it is announced.
Punjab & Sind Bank: The banks have sought for shareholders' nod to issue shares worth Rs 500 Cr via QIP
Bank Of Maharashtra: Bank Of Maharashtra has kept one-year MCLR unchanged at 8.75% per annum.
Ruchi Soya: NCLT Mumbai has dismissed Standard Chartered's plea to be classified as the financial creditor.
Fortis Healthcare: Fortis Healthcare has appointed Dr Ashutosh Raghuvanshi as the CEO of the company with effect from March 18.
Varun Beverages: Varun Beverages has planned to acquire PepsiCo’s franchise rights in Karnataka, Maharashtra and MP. The board has approved intent to enter into a binding agreement to acquire franchise rights from SMV Group. These rights were previously franchised by PepsiCo to SMV Group.
Vedanta Copper Plant Case- Supreme Court has reserved verdict On re-opening of Vedanta's Copper Unit in Tamil Nadu
Shriram EPC: The Co. has received 3 orders worth Rs 291.6 Cr from Jharkhand govt. for construction in water mgmt. Sector.
HCG: The Co. will increase its stake from 50.1% to 100% in its arm BACC Healthcare. This arm operates fertility treatment centres.
Goa Carbon: TheJanuary production at Goa Carbon for Calcined Petroleum Coke is at 17,750.3MT.
Vodafone Idea: TheCo. has planned to launch a music streaming service to take on rivals. The existing Idea Music app will be shutting down. The new music streaming app to challenge Airtel’s Wynk Music and Jio’s Jio-Saavn.
Vodafone Idea will also increase the cost of acquiring new SIM connections. The increased cost will be made uniform across all 22 circles. The move is to enhance its ARPU.
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