Stocks in the news
Hero MotoCorp: The two-wheeler maker has strengthened its operations in Turkey with the launch of Euro-5 compliant variants of its three vehicles in the country.
HDFC Bank: The country’s largest private lender has proposed to double its network of branches in the next three to five years by adding 1,500 to 2,000 branches annually, which would akin to adding a new HDFC Bank every five years.
PVR, Inox Leisure: This multiplex operator has said that they have received clearances for their merger from bourses NSE and BSE. Both companies announced to receive a letter with ‘no adverse observations’ from BSE and National Stock Exchange of India in relation to the scheme of amalgamation.
Yes Bank: At this time when concerns are being raised about its delaying deposit rate hikes amid the overall rate increases, the private lender Tuesday introduced a product where the interest earned on a term deposit is linked to the RBI’s repo rate.
Astral: The plastic and pipe company has subscribed to the optionally convertible debentures of Rs 194 crore allotted by Gem Paints, and has appointed majority directors on the board of Gem Paints, and Esha Paints. Accordingly, Gem Paints and Esha Paints have become a subsidiary and step-down subsidiary of the company, respectively.
Biocon: The pharma company’s arm, Biocon Biologics, has refuses allegations of bribery against the company and its officials regarding approval for one of its products in India, asserting that it follows the due process to get nod from regulators.
Greenlam Industries: The plywood board and laminates company has executed a share subscription agreement with Smiti Holding and Trading Company for allotment of up to 63.1 lakh equity shares at a price of Rs 309 per share. Smiti Holding is an investor and will receive shares on a preferential basis.