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Watch inventory: Adani group, Cadila, LIC housing, telecommunications inventories

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NEW DELHI: The top 10 stock here may be found in today’s news.

Adani Enterprises: Adani Airport Holdings Ltd’s head office from Mumbai to Ahmedabad will be transferred by the group. As Top Executive Officer of Adani Airports, R. K. Jain will replace incumbent Ben Zandi, who will take over as CEO of Mumbai International Airport Ltd., who will be a non-aero chief executive at AAHL;

Banking inventories: The Indian Banks’ Association (IBA), after obtaining a license from the Company Registrar, is shortly to submit an application for a €6,000-cre National Asset Reconstruction Company Ltd (NARCL), or bad bank, by persons knowledgeable with that subject, onto the Reserve Bank of India (RBI). Meanwhile, the growth of banking credit increased to 6.1% year on year for the two-day period ended on 3 July even as the growth of deposits decreased, the newest data from RBI is evident.

The central government has informed the Delhi High Court that the Indian manufacturer Cadila Healthcare’s Covid-19 vaccine may be offered for youngsters aged 12 to 18 years shortly. In an affidavit filed on Friday, the Centre stated, “Zydus Cadila has completed its trial for youth aged 12 to 18 and is subject to legislative approvals.”

HDFC Bank: In the quarter ended 30 June 2021, the country’s largest private sector lender recorded a 16.1% year-on-year (YoY) increase in net profit of Rs 7,729.64 crore. In the same quarter a year before, the bank had a net profit of Rs 6,658.62 crore.

ITC: The ITC Group’s total foreign exchange profits from exports increased 29.08 percent to 5,934 crores in FY21, according to the company’s latest annual report. While ITC Ltd’s foreign exchange earnings increased by 31.2 percent to 4,600 crores, owing mostly to agri-commodity exports, the company said.

LIC HFL: Responding to stock exchange questions about its 2,334 crores preferential allotment of shares to parent Life Insurance Corp of India, the lender said the issue is not in “violation of the provisions of the AOA as the price has been duly determined in accordance with the relevant provisions of the AOA as well as the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements)”.

Oil stocks: After a disagreement between Saudi Arabia and the United Arab Emirates was settled, Opec and its allies decided to gradually increase the oil supply to the market. According to delegates, the cartel would increase output by as much as 400,000 barrels per day each month from August until all of its stopped output is restored.

RIL: According to brokerage firm Bernstein, the company’s recent statement on new energy activities may result in a sustainable energy industry worth $36 billion over the next five years. Reliance Retail Ventures Ltd (RRVL) will buy 66.95 percent of Just Dial Ltd for Rs 3,497 crore, the company stated on Friday. Following the launch of Just Dial, Reliance Retail will be classed as a promoter.

Rossari Biotech: Under a transaction authorized by Tristar Intermediates’ board of directors, the specialty chemicals company will acquire 100 percent of the latter’s equity share capital. The deal has a total enterprise value of Rs 120 crore.

According to rumors, the Supreme Court will hear the adjusted gross revenue (AGR) issue on July 19th. The telecom firms were compelled to pay their dues by the Supreme Court in September of last year. It has given telecom companies including Vodafone Idea, Bharti Airtel, and Tata Teleservices a 10-year grace period for paying AGR-related dues to the Department of Telecommunications (DoT), subject to certain conditions.

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