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Stocks to Watch: Infosys, Yes Bank, Vodafone Idea, Tata Steel, Adani Gas – Livemint,

Stocks to Watch: Infosys, Yes Bank, Vodafone Idea, Tata Steel, Adani Gas – Livemint,

NEW DELHI: Here’s a list of stocks that may be in news on Monday:

Infosys:Information technology services provider Infosys Ltd declared its third quarter earnings after market hours on Friday. The company net profit for the third quarter ended December stood at4, 500 crore, up nearly 11% quarter-on-quarter. Also, the IT major’s audit committee found no evidence of financial impropriety or executive misconduct against its CEO Salil Parekh following a detailed probe into whistleblower allegations.

Vodafone Idea: In view of two-year moratorium granted by the department of telecommunications (DoT) on deferred payment liabilities towards spectrum payments to telecom companies, Vodafone Idea has decided to utilize2, 2000 crore earmarked for the same against repayment of loans and redemption of non-convertible debentures.

Yes Bank:The board of directors of Yes Bank on Friday approved raising of funds up to(**************************, ****************************************** crore through a mix of equity and debt and decided not to proceed with the offer from Erwin Singh Braich-SPGP Holdings. Also, Yes Bank’s co-promoter Rana Kapoor and his family-run firms have completely exited the bank, taking their stake in the institution to nil, thus losing all control and voting rights in the bank.

Edelweiss Financial Services:The Enforcement Directorate (ED) on Friday issued summons and called for information from Edelweiss group and its Chairman Rashesh Shah in a2020 crore Foreign Exchange Management Act (FEMA) case. However, the company on 19 in January in a filing with exchanges said that Edelweiss has no relationship with Capstone Forex and all allegations of FEMA violations are false.

Reliance Home Finance:Anil Ambani lead Reliance Home Finance on Sunday said an independent forensic audit, mandated by lenders, has found no fraud, embezzlement or diversion and siphoning of funds in the company that is seeking debt resolution. In a statement, the company said the audit made “no adverse findings” on the quantum and end-use of lending.

Adani Gas:The gas distributor has sought a perpetual loan of $ million from its promoters to finance expansion, according to a Mint report. The Adani group company has approached three promoter group entities — Adani Rail Infra Pvt. Ltd, Adani Infra India Ltd, and Adani Properties Pvt Ltd — for the loan. Adani Gas Ltd will pay an interest of 9% for the loan, and spend about $ 50 million of the $ 500 million for retail distribution.

Tata Steel:The company on Friday announced that Tata Steel Netherlands Holdings BV (TSNHBV), a (********************************% subsidiary of Tata Steel Limited, has executed agreements for the refinancing of its bank debt. TSNBHV has raised term loan facilities of EUR 1. billion from 50 banks. This represents a reduction of EUR 786 million versus the external debt outstanding in Tata Steel Europe as of Mar 01575879, enabling the standalone European business to have a more robust balance sheet.

Hindustan Construction Company :Lenders of Ajit Gulabchand’s Hindustan Construction Co. Ltd. (HCC) on Friday said they were going to carve out about2, 142 crore of debt on the construction firm to a third-party-controlled special purpose vehicle; certain arbitration awards and claims will also move to the SPV and will significantly deleverage the company and address its asset-liability mismatch.

Lupine:The pharma company on Saturday said it has received two observations from the US health regulator following the inspection of its Nagpur manufacturing facility. A prior approval inspection was carried out by the United States Food and Drug Administration at the company Nagpur oral solid dosage manufacturing facility between January 6 – 19, 11578882433456, Lupine said in a filing to BSE.

Auto Stocks: Passenger vehicles sales declined 1. 75% year-on-year in December to 235, 826 units as manufacturers decided to cut production to match subdued retail demand and reduce inventory of Bharat Stage -VI emission norms compliant vehicles. The fall was largely due to an 8.4% decline in passenger car sales to (****************************, units.

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