Stocks to watch: ACC, Ambuja Cements, Gail India, Yes Bank, SpiceJet

Here is the list of the 10 main actions that will be in the spotlight today:

ACC/Ambuja cements: Billionaire Gautam Adani’s group has pledged shares worth around $13 billion in two Indian cement companies just days after completing the acquisition from Holcim Ltd., reflecting the second person’s hunger for capital richest in the world as its conglomerate of power ports expands rapidly. Stakes in two of these companies – approximately 57% of ACC Ltd. and 63% of Ambuja Cements Ltd. – were encumbered “for the benefit of certain lenders and other financial parties”, according to documents filed separately with Indian stock exchanges. by the Hong Kong branch of Deutsche Bank AG.

Gaelle India: India bought some of the country’s most expensive liquefied natural gas shipments after vital Russian supplies were canceled. Gail India Ltd. bought several LNG shipments for delivery between October and November at more than double the price it paid at this time last year. The New Delhi-based company is struggling to replace supply from Gazprom’s former trading arm PJSC, which was nationalized by Germany earlier this year and is paying contract fines rather than delivering fuel.

Yes Bank: Private lender Yes The bank’s board of directors has approved the transfer of distressed assets worth 48,000 crore to private equity firm JC Flowers. Yes Bank will also acquire a 19.99% stake in ARC, subject to regulatory approvals, the lender said in a BSE filing. Yes Bank’s Board of Directors has named JC Flowers as the winner of the Swiss Challenge process. The decision follows a Swiss Challenge auction where the bank received no competing bids against core bidder JC Flowers ARC.

SpiceJet: SpiceJet has decided to put about 80 pilots on unpaid leave for three months to cut costs, people familiar with the matter told Mint. The airline said it was a temporary measure to streamline expenses and optimize the fleet. About 70 to 80 pilots from the Boeing 737 fleet and the Bombardier Q400 fleet have been placed on unpaid leave for a period of three months.

Mahindra and Mahindra: Mahindra & Mahindra(M&M) Ltd announced on Tuesday that it will acquire an additional 17.41% stake in Swaraj Engines Ltd from Kirloskar Industries Ltd (KIL) for 296 crore. The acquisition will result in an increase in the company’s stake in Swaraj Engines Ltd (SEL) to 52.13% from 34.72%, M&M said in a regulatory filing. The company proposes to acquire 21,14,349 shares constituting 17.41% of the paid-up share capital of SEL from KIL at a price of 1,400 per share, he says.

central bank of india: The state-owned Central Bank of India will no longer be subject to the strict lending restrictions imposed by the Reserve Bank of India (RBI) in June 2017, as the regulator said on Tuesday that the bank had been removed from Quick Corrective Action (RAP). The regulator said that based on the bank’s assessed figures for the year ended March 31, it was not in breach of APC parameters.

Tata Steel: Tata Steel lifted 2,000 crore through the issuance of non-convertible debentures after the board approved the allotment of 20,000 NCD with a face value of 10 lakh each to identified investors on a private placement basis, according to reports. NCDs are proposed to be listed on BSE’s Wholesale Debt Market (WDM) segment.

KRBL Limited: The government on Tuesday extended the deadline for exporting broken rice in transit to September 30. It was previously allowed until September 15. The government had banned broken rice exports on September 8. KRBL Limited is the largest rice miller in the world and a leading player in rice exports. The September 8 notification said that during the period from September 9 to 15, some shipments of broken rice would be allowed to be exported.

Commercial Bank of Tamilnad: The Reserve Bank has refused Tamilnad Mercantile Bank’s recommendation to appoint B Vijayadurai as the lender’s part-time non-executive chairman, according to a regulatory filing. The bank had on August 20 recommended to the RBI the appointment of B Vijayadurai as part-time non-executive chairman. The reasons for RBI’s refusal could not be determined. He said the regulator had advised him to submit a new proposal for another independent director for the position of part-time non-executive chairman.

MotoCorp Heroes: Hero MotoCorp announced on Tuesday that it has partnered with Hindustan Petroleum Corporation Ltd to set up charging infrastructure for electric two-wheelers in the country. As part of this initiative, the two companies will first establish charging infrastructure in the existing network of stations of the Hindustan Petroleum Corporation (HPCL), with the likelihood of expanding the collaboration later for additional business opportunities.

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