Axis Bank on Thursday fixed the floor price for its qualified institutional placement (QIP) issue at at Rs 661.50 per equity share.
Auto, consumer goods:
Auto and consumer good stocks may hog the limelight today ahead of the GST Council meeting due later in the day. According to a Reuters report, the panel is unlikely to favour tax rate cut for auto sector as a study has warned of major revenue losses. That apart, fitment panel has rejected rate cut demand
for 200 items that include caffeinated drinks, biscuits, rusks, TVs, among others.
Zee Group companies:
Mutual funds (MFs) with a debt exposure to Essel Group companies are likely to give more time to their promoters to repay about Rs 3,000 crore of dues beyond the September 30 deadline, according to a Business Standard
Public-sector banks (PSBs) will hold public meetings with borrowers for distributing loans in 400 districts of the country to boost demand ahead of the festive season, Union Finance Minister Nirmala Sitharaman announced on Thursday.In this, the banks will take help from non-banking financial companies (NBFCs). READ MORE
Adani Group companies:
Qatar Investment Authority is in negotiations with the Adani Group to buy a stake in the company’s flagship power transmission and distribution asset — Adani Electricity Mumbai Limited (AEML), according to a report by The Economic Times.
on Thursday completed an investment of €11.35 million (Rs 88.9 crore) to form a 50:50 joint venture with Germany's Refu Electronik GmbH to make components for electric and hybrid vehicles, as per reports.