05 Jul , 2022 By : Kanchan Joshi
Here is the list of top 10 stocks that will be in news today:
HDFC Bank/HDFC: India’s largest private lender HDFC Bank on Monday said the Reserve Bank of India (RBI) has approved its proposed merger with parent and mortgage lender HDFC. The two entities had announced a deal in April.
Kotak Mahindra Bank: The Reserve Bank of India on Monday penalized the private sector lenders Kotak Mahindra Bank for failing to comply with certain regulatory guidelines and imposed a penalty of Rs1.05 crore. The RBI has also slapped a fine of Rs1 crore on IndusInd Bank.
Tata Consultancy Services: The IT major has said that the punitive damages levied by a US court on the company in the EPIC Systems Corporation case has been reduced to $140 million. The company said the case was not supported by facts and that it did not misuse or derive any benefit from EPIC's documents.
Tata Steel Long Products: The company has completed the acquisition of state-owned Neelachal Ispat Nigam Ltd for Rs12,100 crore, the Centre said. The strategic divestment of the Odisha-based steelmaker was underway since January 2021.
Tata Motors: The carmaker expects second half of the current fiscalto be better in terms of performance with gradual improvement in the overall supply situation and stabilisation in commodity prices, according to company chairman N Chandrasekaran.
Vedanta: The mining giant reported a 3% increase in its aluminium production to 5,65,000 tonnes in the April-June quarter of the ongoing fiscal. Mined metal production at Zinc India increased by 14% to 2,52,000 tonnes due to higher ore production across all the mines and supported by better mill recovery.
Hospitality companies: The Central Consumer Protection Authority has barred hotels and restaurants from levying service charge automatically or by default in food bills and allowed customers to file complaints in case of violation. The CCPA has issued guidelines for preventing unfair trade practices and violation of consumer rights with regard to levying of service charge.
Cipla: The US Food and Drug Administration has issued a warning letter to the drugmaker, citing two observations relating to violations of good manufacturing practices at its Indore facility.The observations are related to a drug filing for a product that was to be manufactured at the plant.
Muthoot Finance: The gold loan-focussed NBFC has said it has received an approval from Reserve Bank of India to open additional 150 branches across the country. The non-bank lender plans to open these branches across southern and northern parts of the country.