EOD update as on 06-09-2019

PNB Board Approves Merger With Oriental Bank, United Bank Of India

PNB’s board also approved the Rs 18,000 crore capital infusion, as announced by the government last week.

PowerGrid declares total dividend of Rs 4,357.92 cr for 2018-19
Company registered net profit of Rs 9,938.55 cr over a total income of Rs 35,618.07 cr in 2018-19.

Jio Starts Broadband Internet Service JioFiber, Plans Start At Rs 699

JioFiber plan rentals start at Rs 699 and go up to Rs 8,499 and even the lowest tariff starts with 100 Mbps speed

Reliance Industries Targets More Retail Acquisitions Abroad

Under Mukesh Ambani, Reliance Industries is pivoting from an oil-led conglomerate into a more consumer-facing company.

Tribunal Approves JSW Steel’s Takeover Of Bhushan Power & Steel

The ruling means JSW Steel can make its first major steel company acquisition under the new bankruptcy regime.

Banks Unlikely To Reduce Lending Rates Despite New Rules: Analysts

The RBI late on Wednesday ordered all banks to link certain loans to the external benchmark based interest rate from October 1.

Sebi ordered forensic audit of financial statements for FY16-18: Sun Pharma
The said forensic audit is currently going on, it added.

Advent, Birlas to pump Rs 1,000 crore each into Aditya Birla Capital
PremjiInvest to put in Rs 100 cr; fundraise to help refinance debt, provide growth equity

Ashok Leyland Announces 5 Non-Working Days At Chennai Plant From Today

The development comes as the country’s auto sector is struggling against a slump in sales and lakhs of estimated job cuts.

Mother Dairy Hikes Cow Milk Prices From Today.

Mother Dairy supplies around 30 lakh litre milk, of which 8 lakh litre constitutes cow milk, in the Delhi-NCR region.

Indiabulls Housing Finance slips 9% over alleged PIL
The company is determined to fight out the petitioners in court, it said in a BSE filing.

SC refuses to release for 3 more months Rs 10 crore deposited by Karti for travelling abroad
A bench headed by Justice Deepak Gupta said the amount will continue to remain in fixed deposit for another three months.

Sun Pharma Says Sebi Ordered Forensic Audit Of Its Accounts, Shares Fall 4%

On the Bombay Stock Exchange (BSE), Sun Pharma declined as much as 4.01 per cent to an intraday low of Rs 414.60 apiece.

Prabhat Dairy Hits 20% Upper Circuit On Delisting Proposal

Prabhat Dairy will hold meeting of its board of directors on September 10 to consider the delisting proposal.

J Kumar Infra jumps 5% as JV wins Rs 681-crore project
The share touched its 52-week high of Rs 268.40 on September 17, 2018 and 52-week low of Rs 104.00 on February 1, 2019.

Oriental Bank Reveals Loan Exposure To Nirav Modi, Mehul Choksi

The Oriental Bank has now issued notices declaring the duo and their companies as ‘Willful Defaulters’ for varying loan amounts, totaling to around Rs 289 crore, at their large corporate branch

Unified Payments Interface (UPI) Transactions Jump Six Times In 2019-18

Out of these, the number of UPI transactions increased to 535.34 crore in 2018-19, from 91.52 crore the previous year.

Centre To Infuse Rs 12,000 Crore In State General Insurance Firms: Report

The Budget had provisioned Rs 70,000 crore for PSB recapitalisation and last week a Rs 55,250-crore infusion was announced in several PSBs.

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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