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Market Updates

The Markets are expected to open marginally higher today as trend in GIFT nifty indicate a positive start for the broader index after Nifty closed 148 points lower at 21,517 on Wednesday.

Telecom Companies:

Bharti Airtel's net subscriber additions dropped in October to 3.52 lakh. Reliance Jio added 31.59 lakh wireless subscribers, while Vodafone Idea lost 20.44 lakh wireless subscribers.

Life Insurance Corp:

The company received tax and penalty demands worth Rs 667.5 crore from Tamil Nadu, Uttarakhand and Gujarat tax authorities.

Maruti Suzuki India: 

The company's unit received an adjudication order from the Gujarat GST Authority upholding the Rs 174 crore GST demand. The unit will be filing an appeal against the order with the first appellate authority.

IndusInd Bank:

The private lender recorded deposits at Rs 3.68 lakh crore as of Dec. 31, up 13% YoY, and net advances at Rs 3.26 lakh crore, up 20% YoY. The bank's CASA ratio stood at 38.5% vs. 42% YoY

KPI Green Energy:

The company, along with its unit KPIG Energia, under the captive power producer segment, received new orders of 2.10 MW for executing solar power projects from Radhey Krishna Terene and Jay Metal Tech.

LTIMindtree:

The company received a Rs 206 crore tax demand from Mumbai tax authorities.

MRF:

The company will buy a 27.2% stake in First Energy 8 for Rs 35.8 crore to enhance its source of renewable power supply.

Adani Ports and Special Economic Zone:

The company approved raising Rs 5,000 crore via non?convertible debentures. The company also approved the redesignation of Gautam Adani as executive chairman, the re?designation of Karan Adani as managing director, and the appointment of Ashwani Gupta as CEO, effective from Jan. 4.

Religare Enterprises:

The Burman family has called for a probe into the allotment of shares of Religare Finvest to Rashmi Saluja through employee stock ownership plans.

Power Finance Corp:

The company signed a MoU with the Gujarat Government for projects worth Rs 25,000 crore.

Vedanta:

The company recorded aluminium output at 599 KT, up 6% YoY, refined zinc output at 203 KT, down 4% YoY, and oil & gas average gross operated output at 1,23,413 boe/day, down 15% YoY. It also raised Rs 3,400 crores via the private placement of NCDs. Vedanta Resources has received support from bondholders for its proposal to restructure four series of bonds.

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