Stocks in Focus;
India & US agree on a transitional approach on equalisation levy 2020. Both countries finalise terms w.r.t India’s 2% equalisation levy on e-Comm supply & US’ trade action on equalisation levy
New terms applicable from Apr 1, 2022 till pillar one implementation/ Mar 31, 2024
Coal India: The company said rising costs mean it’s inevitable that it will be forced to hike prices of supplies in long-term deals to protect profitability. The state-run company is facing pressure from high diesel prices and an increase in salaries of employees due retroactively from July. The higher costs threaten to eat into investor returns and potentially hinder its investment in mines and logistics infrastructure.
Capri Global Capital: The company has entered into a co-lending agreement with the Union Bank of India to offer MSMEs loans.
Pidilite Industries: Madhumala Ventures, a wholly owned subsidiary of the company, to acquire 19.51% stake in Constrobot Robotics for Rs 1.56 crore. Constrobot is engaged in the business of research, development, manufacturing and trading of robotic equipment and related software to be used in construction activities.
Tube Investments of India: ICRA has reaffirmed the long-term rating at AA+ and the short-term rating at A1+ in respect of the bank fund based and non-fund based limits of the company. The long-term rating has been removed from watch with developing implications and 'Stable' outlook has been assigned.
Prismx Global Ventures: Board to meet on November 27 to consider raising funds via rights issue of equity shares.
AU Small Finance Bank: Crisil Ratings has revised its rating outlook on the fixed deposit programme and long-term debt instruments of the bank to positive from stable. The rating of the fixed deposit programme and long-term debt instruments have been reaffirmed at FAA+ and AA- respectively.
CyberTech Systems and Software: India Rating & Research (Fitch Group) has upgraded the rating of the company from Long-Term Issuer Rating at 'BBB-/Stable/A3' to 'BBB/Stable/A3+'.
The Ramco Cements: Commissioned a Waste Heat Recovery System at newly commissioned Third Line at its Jayanthipuram Plant. This will help the company generate 5 MW Of additional power from waste heat taking the company’s total power available from waste heat to 21 MW.
Triton Valves: Srikanth Shenoy has resigned as the CFO of the company.
