Stocks to watch on June 26: The Nifty futures contract trading on the Singapore Exchange signals a negative start for domestic stocks. The contract traded at 18,697.50, down 17.5 points or 0.09% from the previous close.
TCS: TCS has reportedly suspended four employees for violating its code of conduct, following a whistleblower complaint received earlier this month. The company also clarified that it has investigated the allegations in the complaint and found that the charges do not “constitute fraud by or against the company and have no financial implications”.
IndusInd Bank: The Hinduja Group is in talks to invest Rs 10,000 crore to increase its stake in IndusInd Bank, according to a media report. Hinduja Group is likely to increase its stake from 17 percent to 26 percent, Economic Times reported. The deal is likely to close in the second half of FY24.
HDFC Life: The Investigation Department of the Central Board of Indirect Taxes and Customs (CBIC) has sent notice of cause and application to HDFC Life Insurance Company in the amount of Rs 942.18 crore. This report concerns allegations of wrongful use of the input tax credit without the underlying service provision.
ICICI Effects: Private lender ICICI Bank will hold a board meeting on Thursday, June 29 to consider a proposal to delist shares of its brokerage arm ICICI Securities.
Ipca Laboratories: The US Food and Drug Administration (US FDA) has issued Form 483 containing 8 observations for the company’s Pithampur formulations manufacturing facility in Madhya Pradesh. The USFDA inspected the facility from June 15 to 23, 2023.
infosys: The company said it was cooperating with an Australian government investigation into ‘contaminated contracts’. The software major has also reportedly cut ties with lobbying firm Synergy 360 – which reportedly received $16 million over 5 years to help Infosys expand its operations in Australia. Last year, an investigation was launched over allegations that former MP Stuart Robert had helped the lobbying firm and its client win government contracts.
Aurobindo Pharma: The European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) has accepted the request from CuraTeQBiologics, the company’s arm, to submit the application for an EU marketing authorization for ZEFYLTI & DYRUPEG. Pull.
Asian paints: The paint manufacturer has acquired an additional 11 percent equity stake in Obgenix Software (brand name White Teak) from its promoters for Rs 54 crore. The company now has a 60 percent stake in White Teak, up from 49 percent previously.
Axle bank: The Reserve Bank of India fined Axis Bank Rs 30 lakh for violating credit card rules.
Trace Vikas Nigam: The company has emerged as the lowest bidder for an elevated metro overpass design and construction project of Maharashtra Metro Rail Corporation. The cost of the project is Rs 394.9 crore and the project is expected to be completed within 30 months.
Yes Bank: The board has approved the borrowing/raising of funds in Indian/foreign currencies in the amount of Rs 2,500 crore through a debt issuance including but not limited to non-convertible bonds and debentures.
Zydus Life: The company’s arm, Zydus Animal Health And Investments, will acquire a 6.5 percent stake in Mylab for Rs 106 crore.
Jammu & Kashmir Bank: The RBI has fined the bank Rs 2.50 crore for non-compliance with certain directions issued upon the establishment of a central repository of large common exposures – across all banks.
AU small financial bank: The Board will meet on June 29, 2023 to consider raising funds through the issuance of shares through Private Placement or Placement by Qualified Institutions (QIP) or preferential allotment or through any combination thereof or any other alternative mode.
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