Wednesday, September 30, 2020

Top Things To Know Today Morning:

1. The Indian stock market is expected to open in the green.
2. Oil drops second day as surging coronavirus cases prompt demand worries.
3. RBI defers CCB implementation by 6 months due to COVID-19.
4. RBI gives more time to states to avail additional market borrowing, OD facility.
5. Ministry of Power is working on a proposal to reduce power purchase costs.
6. Automobile sales may fall 20-25% this fiscal: Ind-Ra.
7. Japan's factory output rises for third month in August.
8. China's factory activity extends solid growth in September, new export orders surge: Caixin PMI.
9. Sugar mills can submit ethanol proposals.
10. India has initiated a probe into an alleged increase in subsidised imports of copper tubes and pipes.

Stock Specific News:

1. The NCLT Mumbai has sanctioned the Scheme of Amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO.
2. Vodafone Idea will seek shareholders' approval to raise the borrowing limit to Rs 1 lakh crore at the annual general meeting scheduled today.
3. Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holding Ltd. to TEMF Ltd for approximately Rs 630 crore.
4. PVR will consider raising funds via NCDs on October 5.
5. ICRA has reaffirmed the credit rating of the Indraprastha Gas for Rs 4,000 crore at AAA and A1+.
6. Welspun Corp has received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore.
7. The RBI has appointed D K Kashyap, General Manager, Reserve Bank of India as Additional Director on the Board of Dhanlaxmi Bank till September 27, 2022.
8. Promoter Sumitomo Chemical Company will sell up to 1.64 crore equity shares in the Sumitomo Chemical India at a floor price of Rs 270 per share.
9. Arvind Lifestyle Brands and Gap Inc. have decided to mutually terminate their franchise business relationship in India.