Auto stocks in focus today as automakers to announce sales data for the month of June.
Jet Airways' employee consortium and Adi Group announced a partnership for acquisition of 75% stake in the company through the NCLT process.
Reliance Infra said Brickwork Ratings downgraded the rating on the company’s bank loan facilities worth Rs1,151cr to D from C, citing deterioration in credit risk profile and weakening of the financial/debt servicing profile owing to substantial losses reported during FY19.
Reliance Home Finance failed to repay the principal obligations on its non-convertible debentures held by Reliance Mutual Fund, worth Rs400cr.
Reliance Capital deferred declaration of results.
JK Tyre & Industries in focus as Care Rating downgraded commercial paper worth Rs300cr to CARE A1 from CARE A1+ citing lower than expected cash accruals leading to low coverage and return ratios and slower than expected deleveraging at the consolidated level.
Mahanagar Gas increased CNG and PNG prices by Rs0.32/kg and Rs0.23/standard cubic meter to Rs51.99/Kg and Rs31.79/SCM respectively. The hike in gas prices is to pass on the increase in pipeline tariffs.
Mahanagar Gas, Indraprastha Gas, Gujarat Gas stock in focus as PNGRB has introduced a concept paper in order to facilitate competition in geographical areas where marketing exclusivity has already expired for city gas distributors.
Dhanlaxmi Bank revised overnight MCLR to 8.6% and one-year MCLR to 9.9%. These rates will be effective from July 1. Also, Lakshmi Vilas Bank revised one-month MCLR to 9.8% and one-year MCLR to 10%. These rates will be effective from July 1.
NMDC said the termination of the contract with BHEL will not have any material impact on operations.
Sadbhav Engineering’s arm Rohtak-Hissar Tollway has paid outstanding debt to lenders amounting to Rs6.5cr and cleared its pending dues. The arm’s credit rating was downgraded to D by Care Ratings on June 27.
Balkrishna Industries said that it has commenced the trial production of Phase 1 of Carbon Black project with a capacity of 60,000 MT per annum in Gujarat.
Kalpataru Power Transmission secured new orders worth Rs975cr.
SJVN signed an MoU with North Eastern Electrical Power Corporation for joint development of power projects.
NMDC’s Lump ore and fines prices remain unchanged at Rs3,100 and Rs2,860 per tonne respectively.