Home Business Business Stocks in the news: IIFL Finance, BPCL, SBI, Max Healthcare and...

Business Stocks in the news: IIFL Finance, BPCL, SBI, Max Healthcare and Jubilant FoodWorks

Business Nifty futures on the Singapore Exchange traded 6 points, or 0.05 per cent at 11,253, in signs that Dalal Street was headed for a flat start on Tuesday. Here are a few stocks which may buzz the most in today’s trade:
IIFL Finance: Moody’s Investors Service on Monday downgraded IIFL Finance corporate family rating (CFR) by a notch to B2 from B1 on the company’s asset quality concerns.
BPCL: Divestment-bound Bharat Petroleum on Monday defended it paying $54 million on behalf of its bankrupt partner Videocon group in its Brazilian joint venture, saying it was to defend the asset and to follow the law of the land and that the move has increased its stake in the JV to over 54.5 per cent now.
Bharti Airtel, Reliance Industries (RIL): Airtel has come closer to challenging Reliance Jio which continues to reign supreme on 4G availability and 4G coverage experience in India, says a new report by mobile analytics company Opensignal.
State Bank of India (SBI): With the upcoming festive season, the country’s largest lender State Bank of India announced a slew of festive offers for its retail borrowers including 100 per cent waiver of processing fee for all customers applying for car, gold, and personal loans through Yono.
Max Financial Services: Promoter Max Ventures Investment Holdings sold a total of 60,33,000 shares of Max Financial Services in two transactions on the BSE and NSE. Max Ventures held 28.15 per cent stake in the company at the end of June, and has sold 20,80,000 shares and 61,00,000 shares in the company earlier in September and August respectively.

Max Healthcare: Max Ventures Investment Holdings, a promoter of Max Healthcare Institute, sold co’s shares worth nearly Rs 182 cr on Monday through an open market transaction. As per the bulk deal data on the BSE, Max Ventures Investment Holdings offloaded 1.67 crore shares of Max Healthcare at Rs 108.88 apiece, valuing the deal at Rs 181.96 crore.
Jubilant FoodWorks, Westlife Development, Specialty Restaurants: Hotel and restaurant associations said they have been given ‘in principle’ approval by Maharashtra chief minister Uddhav Thackeray to reopen restaurants and bars in the state from the first week of October.
IIFL Finance: Moody’s Investors Service on Monday downgraded IIFL Finance’s corporate family rating (CFR) and senior secured debt rating to B2 from B1, and senior secured medium-term note (MTN) program rating to (P)B2 from (P)B1, and said the outlook has been changed to stable from rating under review.
Kalpataru Power Transmission: Kalpataru Power Transmission said the firm and its joint venture partner have completed 74 per cent equity stake sale in Jhajjar KT Transco Pvt Ltd (JKTPL) to IndiGrid.
Dewan Housing Finance (DHFL): Fraudulent transactions worth Rs 12,705.53 crore took place at debt-ridden mortgage firm DHFL during FY17 to FY19, according to transaction auditor Grant Thornton.
BPCL: Divestment-bound Bharat Petroleum on Monday defended it paying $54 million on behalf of its bankrupt partner Videocon group in its Brazilian joint venture, saying it was to defend the asset and to follow the law of the land and that the move has increased its stake in the JV to over 54.5 per cent now.
Coal India: State-owned Coal India on Monday said that it has invited global bids for setting up a coal to methanol plant. Dankuni Coal Complex (DCC) in West Bengal, currently run by its subsidiary South Eastern Coalfields Ltd, is identified as the project site for the proposed plant.
Take Solutions: Promoter Envestor Ventures sold its entire 5.24 per cent stake or a total of 77,47,194 shares of Take Solutions, while C Mahesh, Intelent Data Sciences, RKP Investments & Consultancy and Subhashri Sriram bought 10,00,000 shares, 25,00,000 shares, 27,47,194 shares and 15,00,000 shares of the company respectively.

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