Adani Group, Cadila, HDFC Bank, LIC Housing, Telecom Shares

Adani companies: The group will move the headquarters of Adani Airport Holdings Ltd from Mumbai to Ahmedabad. RK Jain, the CEO of Mumbai International Airport Ltd, will take over as chief executive of Adani Airports, replacing incumbent Ben Zandi who will take over as chief executive, non-aero at AAHL.

Bank shares: After obtaining a license from the Registrar of Companies, the Indian Banks’ Association (IBA) will soon apply to the Reserve Bank of India (RBI) for a 6,000 crore National Asset Reconstruction Company Ltd (NARCL) or bad bank, according to people familiar with the matter. Meanwhile, bank lending growth improved to 6.1% year-on-year for the two weeks ended July 3, even as deposit growth declined, the latest data from RBI shows.

Cadila Healthcare: The Indian drugmaker’s Covid-19 vaccine may soon be available for children aged 12 to 18, the central government has told the Delhi High Court. “Zydus Cadila has completed its process for children between the ages of 12 and 18 and is subject to legal clearances,” the Center said in an affidavit filed Friday.

HDFC Bank: The country’s largest private sector lender reported a 16.1% year-on-year increase in net profit on Saturday 7,729.64 crore in the quarter ended June 30, 2021. The bank had posted a net profit of 6,658.62 crore in the corresponding quarter a year ago.

ITC: ITC Group’s total foreign exchange earnings from exports in FY21 increased 29.08% to 5,934 crore, according to the company’s latest annual report. While the currency earned by ITC Ltd rose 31.2% to up 4,600 crore, mainly due to agricultural commodity exports, it said.

LICHFL: In response to scholarship questions about being 2,334 crore preferential allotment of shares to parent company Life Insurance Corp of India, the lender said the matter does not conflict with the provisions of AOA as the price has been duly determined in accordance with the relevant provisions of the AOA and the Companies Act , 2013 and SEBI Regulations (Issuance of Capital and Disclosure Requirements), 2018.”

Oil stocks: Opec and its allies agreed to gradually bring more oil to the market after Saudi Arabia and the UAE resolved a dispute that blocked the deal. The cartel will ramp up production by as much as 400,000 barrels per day every month from August until all halted production is revived, deputies said.

RIL: The company’s recent announcement of new energy business could create a clean energy business worth $36 billion in the next five years, brokerage firm Bernstein said in a note. On Friday, the company announced that Reliance Retail Ventures Ltd (RRVL) will acquire 66.95% in Just Dial Ltd for 3,497 million. Reliance Retail will be classified as a Just Dial promoter after this deal, it said Friday.

Rossari Biotech: The specialty chemicals manufacturer will acquire 100% of the share capital of Tristar Intermediates under a deal approved by the former’s board of directors. The total enterprise value of the transaction is: 120 crores.

Telecom shares: The Supreme Court, according to reports, will rule on July 19 in the adjusted gross revenue (AGR) case. In September last year, the apex court ordered the telecom companies to pay their dues. It had granted telecom companies like Vodafone Idea, Bharti Airtel and Tata Teleservices 10 years for paying the AGR-related dues to the Department of Telecommunications (DoT) under certain conditions.