Stocks that are likely to record significant movement on bourses today
Lakshmi Vilas Bank: The bank has written down the bonds (Series VIII – Rs 78.10 crore, Series IX – Rs 140.10 crore, and Series X – Rs 100 crore) aggregating to Rs 318.20 crore. The Tier 2 Bonds issued under Series VII (Option B) amounting to Rs 50.50 crore will continue as a liability in the books of DBS Bank India Limited.
AU Small Finance Bank: The bank has made a strategic investment of Rs 7.70 crore in National Payments Corporation of India (NPCI).
Gillette India: The company has received an order from National Anti-Profiteering Authority (NAA) under Central Goods & Service Tax Act 2017, which has alleged that the company has profiteered to the tune of Rs 58 crore and also, directed the company to deposit the profiteered amount with interest in Consumer Welfare Funds. The company is reviewing the said order and will take appropriate steps in due course.
Mahindra & Mahindra: Mahindra Holdings Limited (MHL), a wholly-owned subsidiary of the company, has agreed to sell its entire stake aggregating 100 per cent of the paid-up equity share capital in Mahindra First Choice Services (MFCS) and its entire stake aggregating to 100 per cent of optionally convertible redeemable preference shares in Auto Digitech Private Limited (ADPL), a wholly-owned subsidiary of MFCS, to TVS Automobile Solutions Private Limited (TASL).
United Spirits: The company has issued an update in connection with the sale of all the shares held by the company in its subsidiary, Tern Distilleries Private Limited (TDPL). Since the company has not received consideration from the prospective buyer, the company is rescinding the share purchase agreement entered on October 14, 2020. Consequently, TDPL will continue to be a subsidiary of the company.
Ramkrishna Forgings: The company has started the commercial production of a hollow spindle line. This will enhance the production capacity of the company by 10,200 tonnes per annum.
Tube Investments of India: The company acquired a controlling interest in CG Power & Industrial Solutions via allotment of equity shares and warrants.