Stocks To Watch
Reliance Industries: Reliance Jio to increase tariffs. Price of the entry-level JioPhone plan will increase by 21.3% to Rs 91. Prices of unlimited voice bundles and data add-ons will increase by 20%. New tariffs will be effective from December 1, 2021.
SBI: RBI has imposed Rs 1 crore penalty on the bank. Penalty was levied after RBI's supervisory inspection of SBI's financial position as of March 2018 and March 2019. On supervisory inspection it was revealed that SBI, as pledgee, held stake higher than 30% in borrower companies. This is in contravention of Section 19 of the Banking Regulation Act.
Ashok Leyland: Vipin Sondhi will step down as Managing Director and Chief Executive Officer of the company with effect from December 31, 2021. Dheeraj Hinduja, chairman will take over as executive chairman with immediate effect.
Hero MotoCorp: The company’s Board of Directors have appointed former chairman of SBI, Rajnish Kumar as an independent non-executive director, Camille Tang as an independent non-executive director and Vasudha Dinodia as a non-executive director.
Salasar Techno Engineering: The company has secured orders worth Rs 170 crore from RITES.
GHCL: The company has signed a MoU with the Government of Tamil Nadu for investing Rs 500 crore in the state.
The Phoenix Mills: Crisil Ratings has revised its outlook on the long-term bank facilities of the company to stable from negative and reaffirmed the rating at A+.
Punjab Alkalies & Chemicals: Board to meet on December 2 to consider sub-division of face value of equity shares of the company