HDFC Bank reported a 32.77% rise in net profit to Rs 7416.48 crore in Q3 December 2019 from Rs 5585.9 crore in Q3 December 2018. Profit before tax (PBT) for Q3 December 2019 was at Rs 9,901.90 crore. Adjusting for one-off credit items, the core PBT at Rs 10,401.90 crore, grew by approximately 21%. The bank's net revenues (net interest income plus other income) increased by 19.1% to 20,842.20 crore for the quarter ended 31 December 2019 over the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for Q3 December 2019 grew 12.69% to Rs 14,172.90 crore from Rs 12,576.80 crore for Q3 December 2018, driven by growth in advances of 19.9%, and a growth in deposits of 25.2%. The net interest margin for the quarter remained stable at 4.2%.

Reliance Industries (RIL), on consolidated basis, reported 13.55% increase in net profit to Rs 11,640 crore on 2.52% decrease in net sales to Rs 152,939 crore in Q3 December 2019 over Q3 December 2018. The revenue decreased primarily due to 10.6% decline in order-to-cash (O2C) business revenues, with lower product price realization and 6.6% fall in Brent crude price. This was partially offset by continuing growth momentum in consumer businesses. Digital services and retail business recorded an increase of 36.2% and 27.4% respectively, in revenue during the quarter. RIL's gross refining margin (GRM), or what it makes from turning every barrel of crude to fuel, came in at $9.2 per barrel from $8.8 per barrel.

TCS' consolidated net profit rose 0.95% to Rs 8,118 crore on 2.25% increase in net sales to Rs 39,854 crore in Q3 December 2019 over Q2 September 2019.

ICICI Lombard General Insurance Company's net profit grew 23% to Rs 294 crore in Q3 December 2019 from Rs 239 crore in Q3 December 2018. Total income rose 15.6% to Rs 2914.89 crore in Q3FY20 over Q3FY19. GDPI (gross direct premium income) remained flat at Rs 3693 crore in Q3FY20 compared to Rs 3699 crore in Q3FY19. Direct premiums written represent the growth of a company's insurance business during a given period.

L&T Technology Services (LTTS)'s consolidated net profit fell 0.8% to Rs 204.10 crore on 1.5% rise in revenue to Rs 1,423 crore in Q3 December 2019 over Q2 September 2019. On a year-on-year (YoY) basis, consolidated net profit grew 10% while net sales increased 8% in Q3FY20. The company bagged 9 multi-million dollar deals across all major industry segments including two deals worth $30 million each. On a YoY basis, LTTS increased its $20 million clients by 2 and its $10 million clients by 4. At the end of the third quarter, the patents portfolio of LTTS stood at 472, out of which 352 are co-authored with its customers and the rest are filed by LTTS.

Maruti Suzuki informed that the company launched the BS6 variant of country's best-selling multi-purpose van Eeco. The revised Ex-showroom price in Delhi and NCR region shall vary from Rs 3,80,800 to Rs 6,84,000 and in Rest of India from Rs 3,90,800 to Rs 6,94,000. Eeco will now have improved mileage, powerful performance and low cost of maintenance. The price revision is effective from 17 January 2020.

Telecom stocks will be in focus after Supreme Court, yesterday, 16 January 2020, dismissed the review pleas from telecom companies that sought relief on interest and penalty payments in connection to the verdict on Adjusted Gross Revenue (AGR). The deadline for telecom companies to meet the license fee dues as per the apex court's AGR judgement is 23 January 2020.

Index heavyweights Reliance Industries, Tata Consultancy Services, HCL technologies, ICICI Bank will announce their Q3 result today, 17 January 2020.

GMR Infrastructure said that the Supreme Court of India has lifted suspension of the environment clearance on GMR Goa International Airport (GGIAL). This in effect will result in resumption of the construction activities at the project site to build a greenfield international airport at Mopa, Goa, by GGIAL.

Wipro said that Wipro Ventures, announced the closing of its $150 million Fund ll. Buoyed by the success of its first $100 million fund launched in 2015, Wipro Ventures will continue to invest in early to mid-stage companies building innovative enterprise software solutions across key areas, including cybersecurity, application development, analytics, cloud infrastructure, test automation, and Al.

Metropolis Healthcare said that the board of directors of the company have approved the acquisition of Shraddha Diagnostic Centre and the share purchase and shareholders' agreement were executed on 16 January 2020.

UCO Bank informed that the board of directors of the Bank have approved the proposal for the issue of equity shares on preferential basis to Government of India against capital Infusion of Rs 2142 crore. Extraordinary General Meeting of the shareholders of the bank will be held on 14 February 2020 for seeking shareholders' approval.

CEAT has informed that the board of directors of the company, will consider a proposal for issuance of listed/unlisted secured/unsecured redeemable non-convertible debentures on private placement basis.

HIL informed that informed that the board of directors of the company has approved sale and transfer of the company's calcium silicate insulation products division operated under the brand HYSIL to Calderys India Refractories through a slump sale arrangement on a going concern basis.

Bharti Airtel said that the company has raised $2 billion through the QIP route; which saw participation by highly reputed global and Indian investors. The company accordingly will issue 323,595,505 equity shares of face value of Rs 5 per equity share at a price of Rs 445 which implies a discount of 1.57% on the SEBI determined floor price of Rs 452.09 per equity share. Post the QIP issue, the holding of promoter and promoter group will be 58.98% as against 62.70%.

Indian Oil Corporation said the company has issued 20,000 unsecured, rated, taxable, redeemable, non-convertible debentures (series-XV) of Rs 10,00,000 each aggregating to Rs 2,000 crore on private placement basis on 14 January 2020 to meet its capex requirements.

Asian Paints informed that Competition Commission of India, (CCI) has passed a prima facie order dated 14 January 2020, directing the Director General to cause an investigation against the company, basis information received from JSW Paints. Asian Paints said it is currently examining the order and will take appropriate legal recourse and will extend full co-operation to CCI in the matter.

Torrent Pharmaceuticals said meeting of the board of directors will be held on 27 January 2020 to consider taking enabling resolutions for raising of funds by issue of Equity Shares including Convertible Bonds / Debentures through Qualified Institutional Placement (QIP) and / or Depository Receipts or any other modes, The company will also consider payment of interim dividend for FY 2019-20 and nine on the results on the same day.

Kotak Mahindra Bank said that Kotak Mahindra Prime, a wholly owned subsidiary of the bank has executed a share purchase agreement, for sale of its entire equity stake of 5.56% in Equifax Credit Information Services. The transaction is likely to be completed in Q4 of 2020.

Wipro, on consolidated basis, reported 3.79% decline in net profit to Rs 2,455.90 crore on 2.28% increase in revenue to Rs 15,470.50 crore in Q3 December 2019 over Q2 September 2019. IT services segment revenue rose 3.03% to Rs 15,100.60 crore crore in Q3 December 2019 over Q2 September 2019. In dollar terms, IT services segment revenue was at $2,094.8 million, a sequential growth of 2.2%. The company expects revenue from IT services business to be in the range of $2,095 million to $2,137 million. This translates to a sequential growth of 0.0% to 2.0%.

Mindtree, on consolidated basis, reported 45.93% rise in net profit to Rs 197.00 crore on 3.42% increase in revenue to Rs 2,000.10 crore in Q3 December 2019 over Q2 September 2019. Digital business grew by 13.5% y-o-y.

Canara Bank said that it has decided to call-off the divestment process of its entire stake in Can Fin Homes, which was under progress.

CSB Bank informed that the regulatory restrictions imposed by RBI on opening of new branches in view of the delayed Initial Public offering, have been lifted by RBl, with effect 10 January 2020. Accordingly, the Bank can currently open branches under the general permission of RBI for all banks.

Piramal Enterprises informed that a meeting of the company will be held on 17 January, 2020, to consider and approve the issue of secured nonconvertible debentures on private placement basis amounting up to Rs 300 crore.

Saksoft said that Credit Analysis & Research Limited (CARE) has assigned an upward rating to the long term bank facilities of the Company from CARE BBB +; Positive (Triple B Plus; Outlook Positive) to CARE A - ; Stable (Single A Minus; Outlook: Stable).

Infosys said the company has partnered with GEFCO, a world leader in multimodal supply chain solutions and the European leader in automotive logistics, to support its digital transformation over the next five years.

Indian Railway Catering Tourism Corporation (IRCTC) said Ministry of Railways has given its approval to IRCTC to operate 82901/82902 Ahmedabad-Mumbai Central Tejas Express (06 days a week). This train will have its inaugural run on 17 January 2020 and will start its commercial run from 19 January 2020.

Aster DM Healthcare said the board has approved the shares buyback for up to 57.14 lakh equity shares fully paid-up of Rs 10 per equity share representing up to 1.13 % of the total paid-up Equity Share capital of the company at a price of Rs 210, for an aggregate amount of up to Rs 120 crore, being 4.69% and 5.42% of the fully paid-up Equity Share capital and free reserves.

IT major Wipro will announce its Q3 result today, 14 January 2020.

Manappuram Finance said the company has raised $300,000,000 by allotment of fixed rate senior secure notes (Notes) in accordance with Regulation S of the US Securities Act, 1933, as amended and applicable Indian laws and regulations pursuant to the meeting of the Financial Resources and Management Committee dated 13 January 2020. The Notes will be listed on the Singapore Exchange Securities Trading.

Infosys, after market hours on Friday, announced its Q3 results. On a consolidated basis, net profit rose 10.9% to Rs 4,457 crore on 2% increase in revenues to Rs 23,092 crore in Q3 December 2019 over Q2 September 2019. The Q3 numbers are as per International Financial Reporting Standards (IFRS). Operating margin was 21.9% in Q3 December 2019 as against 21.7% in Q2 September 2019. The company increased FY20 revenue guidance. The revised guidance is 10.0%-10.5% in constant currency higher than 9-10% estimated earlier. It maintained FY20 operating margin guidance range of 21%-23%.

Avenue Supermarts, on Saturday, reported 55.32% rise in consolidated net profit to Rs 384.04 crore on 24.31% rise in total income to Rs 6815.00 crore in Q3 December 2019 over Q3 December 2018. The company added seven stores in Q3 and 20 stores during the 9 months.

Torrent Power informed that CRISIL has upgraded the long term credit rating of non-convertible debentures and long term bank facilities of the company to CRISIL AA/Stable from CRISIL AA-/Stable. CRISIL has reaffirmed its rating on the short-term bank facilities and commercial paper at CRISIL A1+. CRISIL believes Torrent Power will maintain its strong business risk profile, driven by stable cash flows from its regulated businesses over the medium term. Also, financial risk profile expected to remain healthy.

Tata Steel said that Tata Steel Netherlands Holdings B.V. (TSNHBV), a 100% subsidiary of Tata Steel, has executed agreements for the refinancing of its bank debt. TSNBHV has raised term loan facilities of EUR 1.75 billion from 19 banks. This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019, enabling the standalone European business to have a more robust balance sheet while it is also putting in significant efforts at restructuring and improving its operating performance.

Yes Bank said the Board of Directors of the Bank, have approved raising of funds upto Rs 10,000 crore through a mix of equity and debt and decided not to proceed with the offer from Erwin Singh Braich-SPGP Holdings. The bank will hold extra-ordinary general meeting to obtain shareholders' approval for fund raising.

Lupin said the completion of a PAI (Prior Approval Inspection) carried out by the United States Food and Drug Administration (US FDA) at its Nagpur oral solid dosage manufacturing facility. The inspection was carried out between 6 January 2020 and 10 January 2020. The inspection closed with two 483 observations.

Housing Development Finance Corporation (HDFC) said the company has completed the acquisition of 50.80% shares of Apollo Hospitals Group in Apollo Munich Health Insurance Company for Rs 1,485 crore. It also acquired 0.36% stake in Apollo Hospitals held by employees for Rs 10.67 crore. Apollo Munich has been renamed to HDFC ERGO Health Insurance, which will operate as a subsidiary of HDFC.

Tata Consultancy Services (TCS) said the company has expanded its partnership with Vipps AS, Norway's leading player in the payments and identification segment, to leverage TCS' Machine First' Delivery Model (MFDM) and cloud services to accelerate the latter's growth and digital journey.

IT major Infosys will announce its Q3 result today, 10 January 2020.

Delta Corp said the company's subsidiary in Nepal has been issued a license for operating a casino in Nepal. The operations of the casino at the Marriot Hotel in Kathmandu are expected to commence soon.

GMR Infrastructure (GMR) said GMR Hyderabad Aerotropolis (GHAL), a subsidiary of GMR Hyderabad International Airport (GHIAL), has formed a joint venture with ESR Hyderabad 1 Pte (ESR), a subsidiary of the Hong Kong based ESR Cayman, to develop a 66-acre logistics and industrial park at the Hyderabad airport city. ESR and GMR entered into a definitive agreement with an equity interest of 70% and 30%, respectively, in the special purpose vehicle named GMR Logistics Park.

Sterlite Technologies (STL) said Sterlite Global Venture (Mauritius) a wholly owned subsidiary of STL, has entered into definitive agreements to acquire 12.8% stake (on issued and outstanding basis) in ASOCS, a vRAN technology company based out of Israel.

Bharti Airtel said the company will launch a qualified institutional placement worth $2 billion at an indicative issue floor price of Rs 452.09 per share and a separate fund raising exercise through issue of foreign currency convertible bonds of up to $1 billion. The opening date for both the issue is 8 January 2020.

State Bank of India (SBI) announced Residential Builder Finance with Buyer Guarantee (RBBG) to safeguard home buyers financially by issuing guarantee for completion of projects to customers availing SBI Home Loans. Now, customers will be able to secure their investment in the ongoing home projects financed by the bank itself. RBBG will focus on affordable housing segment with home price of upto Rs 2.50 crores in seven Indian geographies initially.

Sunteck Realty and State Bank of India (SBI) entered into a Memorandum of Understanding towards boosting the residential housing sector under the Bank's “Sapna Aapka - Bharosa SBI Ka” scheme with Bank Guarantee to Home Buyers under the Builder Finance scheme.

Alembic Pharmaceuticals has informed that Aleor Dermaceuticals (Aleor), a 60:40 Joint Venture between Alembic Pharmaceuticals (Alembic) and Orbicular Pharmaceutical Technologies (Orbicular), has completed United States Food and Drug Administration (USFDA) inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; without any observations. The inspection was carried out from 6 January, 2020 to 8 January, 2020.

Vedanta informed that the company approved offering for subscription, on a private placement basis, up to 20,000 nos. Secured, Rated, Non-Cumulative, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10,00,000/- each aggregating up to Rs 2000 crore in one or more tranches.

JSW Energy said CARE Ratings has assigned the rating of 'CARE AA-/Credit Watch with Negative implications' for the company's Rs.300 crore non-convertible debenture (NCD) issue. Further, the ratings on the outstanding NCDs are re-affirmed at CARE AA-/Credit Watch with Negative implications.

Cyient inaugurated the state of the art 60,000 sq. ft. development center in Warangal. With this launch, Warangal gets the largest development center, paving the way for development of commercial and business infrastructure and attracting IT and other investments. The facility can accommodate 600 Cyient engineers on a total built-up area of around 60,000 sq. ft. The company is also constructing a second tower to accommodate an additional 200 engineers.

NBCC (India) informed that the company secured the business of Rs 1090.53 crore during the month of December 2019.

NHPC has informed that the company has raised Rs 500 crore on 3 January 2020 in second tranche through private placement of secured, redeemable, taxable, non-cumulative, non-convertible 7.38% NHPC-Y1 Series Bonds.

Mahindra & Mahindra said that CARE Ratings has reaffirmed the company's long term rating on bank loan facilities at AAA with stable outlook. The short-term rating was reaffirmed at A1+. The ratings factors the company's its dominant market position in the Indian tractor industry and Light commercial vehicles (LCV) segment.

Navin Fluorine International informed that post successful mechanical completion and plant trials the company's cGMP capacity addition at Dewas Plant, Madhya Pradesh, has commenced commercial production with effect from 6 January 2020.

Gujarat Gas said Credit rating agency CRISIL has reaffirmed long-term rating for the company's bank loan facilities worth Rs 2,350 crore at AA+ with a stable outlook. The rating reflects CRISIL's expectations of an improvement in Gujarat Gas 's credit profile over the medium term.

HDFC Bank announced operational performance for Q3 of FY 2020. In Q3 of FY 2020, advances grew 20% to Rs 9,34,000 crore, compared to Q3 of FY 2019. Deposits grew 25% to Rs 1,06,7500 crore as of 31 December 2019, up 25%, compared to Q3 of FY 2019. CASA ratio stood at around 39.5% as of 31 December 2019, as compared to 40.7% as of 31 December 2018 and 39.3 % as of 30 September 2019. During the quarter, the Bank purchased loans aggregating Rs 4258 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation.

PI Industries said a factory accident that happened in one section of a Multi-Product Plants (MPP) at Jambusar fine chemicals manufacturing site in Gujarat. This accident unfortunately resulted in two fatalities and nine others are injured. The accident did not result in any fire or hazardous emissions but was limited to one MPP and has not affected operations of the other MPPs at the site

Mishra Dhatu Nigam (MIDHANI) said the company has dispatched its first consignment of ultra high strength steel for ignitor box and cobalt alloy for throat sitting rings for indigenous manned mission of Indian Space Research Organisation (ISRO) 'Gaganyaan' which will carry its “Vyomanauts” to space. MIDHANI is in the process of establishing manufacturing facilities for carbon-fibre & 3D metal powder. An aluminium alloy plant in joint venture with NALCO at Nellore being setup under 'Make in India' initiative as a joint venture company

Avenue Supermarts has allotted listed Commercial Paper of Rs 100 crore on 6 January 2020. The company has issued said Commercial Paper within the overall limit of Rs 900 crore as approved by Board of Directors in their meeting held on 12 January 2019. The maturity date is 25 February 2020. CRISIL has assigned rating of CRISIL A1+.

V.S.T Tillers Tractors has said that Power Tiller sales quantity rose 4.3% to 1,410 units in December 2019 from 1,352 units in December 2018. Power Tiller sales quantity fell 5.8% to 14,385 units during 9 months of FY 2020 compared to 9 months of FY 2019. Tractor sales quantity fell 39.2% to 366 units in December 2019 from 602 units in December 2018. Tractor sales quantity fell 6.6% to 5,677 units during 9 months of FY 2020 compared to 9 months of FY 2019.

Adani Ports and Special Economic Zone (APSEZ) has informed that the company intends to acquire 75% stake of Krishnapatnam Port Company (KPCL) from the existing shareholders. The investment is in line with the company's strategy to increase its footprint in Andhra Pradesh. KPCL handled 54 MMT in FY2019. Acquisition value of KPCL is approximately Rs 13,500 crore. The purchase consideration will be funded through internal accruals.

Sobha announced operational performance for Q3 of FY 2019. The company achieved new sales volume of 1,066,022 square feet valued at Rs 726 crore, with a total average realisation of Rs 6,811 per square feet. Sobha's share of sales value is at Rs 608 crore. The total sales volume is up by 17% in Q3 of FY 2019 compared to Q3 of FY 2018, and by 9% during 9 months of FY 2019 compared to 9 months of FY 2018. Total sale value is up 4% during Q3 FY 2019 as compared to Q3 FY 2018 and by 6% as compared to Q2 FY 2019. Total average price realization during Q3 FY 2019 rose 3% as compared to Q2 FY 2019.

Dixon Technologies (India) said it has entered into agreement with Samsung India Electronics (Samsung) for manufacturing of LED TVs. Dixon shall be manufacturing LED TV for Samsung from its manufacturing facility located at Tirupati, Andhra Pradesh.

PVR said that the outlook on long term rating has been revised following the completion of a Qualified Institutional Placement (QIP) in October 2019, with the same leading to an inflow of Rs 500 crore. The rating on Non-convertible Debenture Programme and Fund based-Term Loan were reaffirmed at [ICRA]AA- and outlook was revised from stable to positive by ICRA. Meanwhile, the rating on Commercial Paper was reaffirmed at A1+.

State-run Indian Overseas Bank (IOB) said it has received capital infusion of Rs 4,360 crore from the government. IOB said it has received the amount as contribution of the government in preferential allotment of equity shares during the financial year 2019-20 as government's investment.

Hero MotoCorp said it sold 424,845 units of two-wheelers in December 2019, as compared to 453,985 units in the corresponding month of the previous year (December 2018), a decline of 6.42%. In the first three quarters of the Financial Year 2020 the company sold 50,75,208 units of motorcycle and scooters compared to 60,39,585 units.

Housing Development Finance Corporation (HDFC) said that it has recorded a fair value gain of Rs 9,020 crore from Gruh Finance and Bandhan Bank merger. Income from dividend was at Rs 4 crore in December 2019 quarter compared to Rs 2 crore in December 2018 quarter. During the quarter, HFDC assigned loans amounting to Rs 4,258 crore compared to Rs 6,959 crore in December 2018 quarter.

JSW Energy said the company entered into an agreement with Jaiprakash Power Ventures (JPVL) to re-structure the principal outstanding amount of Rs 751.77 crore, owed by JPVL to the company. According to the agreement, Rs 351.77 crore will be converted into equity shares of JPVL. Out of the balance outstanding principal amount of Rs 400 crore, Rs 280 crore to be written off and Rs 120 crore will continue as debt to be paid by JPVL.

RITES said it has secured a major work of project Management Consultancy from the Government of Bangladesh amounting to $ 14.01 Million (Rs 99.94 crore) in relation to 4 laning of National Highway in Bangladesh. RITES is a lead partner in the JV arrangement and will receive $ 10.88 Million (Rs 77.57 crore) out of the total consultancy fee of $ 14.01 Million (Rs 99.94 crore). Amount is inclusive of taxes.

Natco Pharma announced its submission of an Abbreviated New Drug Application (ANDA) with the US Food and Drug Administration (FDA) for the generic version of Lonsurf (Trifluridine/ Tipiracil) tablets (15mg/6.14mg and 20mg/8.19mg). NATCO believes that it is one of the first ANDA filers for the product and could be eligible for 180 days exclusivity under certain circumstances.

VA Tech Wabag said it has secured Rs 1,187 crore worth order from Bihar Urban Infrastructure Development Corporation under the prestigious National Mission for Clean Ganga Scheme to develop Sewage Treatment Plants of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna. This project comprises of a Design, Build and Operate scope worth Rs 940 crore and Hybrid Annuity scope worth around Rs 247 crore.

Tata Motors announced its sales in the domestic & international market, for the month of December 2019, which stood at 46,903 vehicles, compared to 54,439 units during December 2018, down 13.8%. Total domestic auto sales fell 12% to 44254 units in December 2019 compared with 50440 units in December 2018.

Eicher Motors said VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, reported 19.1% decline in total commercial vehicle sales to 5,042 units in December 2019 from 6,236 units in December 2018.

Jagran Prakashan said the company has bought back 33,15,206 equity shares during 16 December 2019 to 31 December 2019 and extinguished 22,89,486 equity shares on 31 December 2019. The balance 10,25,720 equity shares are pending to be credited to demat account and will be extinguished in the manner specified in the SEBI Buyback Regulations.

Future Retail informed that a meeting of the board of directors of the company is scheduled to be held on 4 January 2020 to consider and approve the proposal for raising of funds.

JBM Auto said the merger of JBM Auto System Private and JBM MA Automotive with JBM Auto got effective from 1 January 2020. JBM Auto will be a merged entity. The post-merger revised paid-up equity share capital of the company will be Rs 23.65 crore.

Auto stocks will be in focus as these companies will declare their December monthly sales.

Yes Bank said CARE downgraded the rating on infrastructure bonds to A/Negative {from A+ (Credit Watch with Developing implications) and Negative outlook assigned}. The outlook for the ratings is Negative considering the uncertainty related to equity raising, which is critical for the bank to maintain adequate capital buffers over the minimum regulatory requirement as well as fund future growth of the bank.

Sterling and Wilson Solar said the promoters have enabled repayment of Rs 1,000 crore. The outstanding loan from the date of listing has fallen from Rs 2,563 crore to Rs 1,644 crore.

Adani Green Energy (AGEL) said its step down subsidiary, Adani Renewable Energy (GJ), has commissioned its 75 MW Wind Power Project having Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company (MSEDCL) at Rs 2.85/kWh for a period of 25 years. Commercial sale of power from the Project to MSEDCL is expected to commence w.e.f. 1 January, 2020.

Skipper said CARE downgraded long term rating on the company's bank facilities to BBB+ with a stable outlook, from A with a negative outlook. The revision in the ratings is on account of deterioration in the financial performance of the company in FY19 and H1 FY20 on account of weak operational performance.

PTC India announced its selection as aggregator for Pilot Scheme - II issued by Ministry of Power for resolution of stressed thermal assets. The scheme is for procurement and supply of 2500 MW power on medium term basis for three year's period.

Bajaj Electricals said a meeting of the Board is scheduled to be held on 6 January 2020 to consider, among others, the proposal for raising of funds by issue of equity shares, convertible securities or any other securities, including, through a rights issue, preferential issue and/or qualified institutions placement.

United Spirits said CRISIL has revised its outlook on the long term bank facilities and non convertible debentures of United Spirits (USL) to 'Positive' from 'Stable' while reaffirmed the rating at 'CRISIL AA+'. The short term rating and commercial paper has been reaffirmed at 'CRISIL A1+'. The outlook revision reflects the expectation of improvement in USL's credit profile, commensurate with better cash accrual and leverage over the medium term.

Chalet Hotels (Chalet) said it has entered into five new agreements extending their collaboration with Marriott International Inc. Under the agreement, Chalet would build hotels & extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad & Mumbai.

Piramal Enterprises said the Company approved the allotment of 16,000 secured, rated, unlisted, redeemable nonconvertible debentures each having a face value of Rs 10,00,000/-, aggregating to Rs 1,600 crore on private placement basis.

RBL Bank approved the issue and allotment of 19,835,610 equity shares of face value of Rs 10 each on preferential basis at a price of Rs 340.70 per equity share (including a premium of Rs 330.70 per Equity Share), aggregating to Rs 675.79 crore.

NHPC said it has approved the proposal for raising of debt upto Rs 2000 crore during FY 2019-20 through issuance of secured, redeemable, taxable, noncumulative, non-convertible taxable Corporate Bonds in one or more series/tranches on private placement basis and/or raising of Term loans I external commercial borrowings (ECB) in suitable tranches.

PTC India Financial services (PFS) said it has received sanction of fresh long term loan of Rs 500 crore for a period of ten years at interest rate of 8.50% per annum for onward lending to infrastructure projects and other operational requirements.

Share of Prince Pipes and Fittings will be in focus as it makes a debut today. The initial public offer of Prince Pipes and Fittings was subscribed 2.21 times. The issue opened for bidding on Wednesday, 18 December 2019 and it closed on Friday, 20 December 2019. The price band was fixed at Rs 177 to Rs 178 per share.

Adani Ports and Special Economic Zone (APSEZ) said Adani Logistics (ALL), a wholly owned subsidiary of APSEZ, has acquired 6,72,54,119 equity shares representing 40.25% stake of Snowman Logistics (Snowman) from Gateway Distriparks (GDL) at a price of Rs 44 per equity share aggregating to Rs 295.92 crore. The acquisition gives ALL platform to double its capacity in next 5 years.

Piramal Enterprises approved the issue of secured, rated, unlisted, redeemable Non-Convertible Debentures aggregating up to Rs. 2,750 crores on private placement basis to be issued in one or more tranches from time to time.

JSW Steel said that JSW Steel (Netherlands) B.V., a wholly owned subsidiary of the company, has entered into an agreement for selling 39%out of its 49% stake held in Geo Steel LLC, a Joint Venture (JV) based in Georgia, to its JV partner - Georgian Steel Group Holdings Limited. Post the completion of the aforesaid sale, JSW Steel (Netherlands) B.V. will continue to hold 10% stake in Geo Steel LLC.

PSP Projects informed that the company has emerged as the L-1 Bidder for development and beautification of Shri Kashi Vishwanath Dham at Varanasi, Uttar Pradesh with bid value of Rs 339 crore (excluding taxes).

Tata Global Beverages said both the partners, PepsiCo India Holdings (PIH) and itself, have agreed to revise the Joint Venture Agreement (JVA) dated 28 October 2010 with respect to its Joint Venture company NourishCo (NCBL). The the date for reviewing various options for the business of NCBL is extended from 31 December 2019 to 30 June 2020. NCBL markets and distributes branded products like Tata Gluco Plus, Tata Water Plus and Himalayan, within the liquid beverage category.

Gujarat Gas (GGL) said CRISIL has upgraded long term rating on company's bank loan facilities of Rs 2,350 crore to AA+/Stable from AA/Positive. The upgrade reflects CRISIL's expectations of an improvement in GGL's credit profile over the medium term. Sustainable improvement in cash accruals is expected to improve GGL's financial risk profile notwithstanding the sizeable capital expenditure programme.

Allahabad Bank said that the Government of India has released fresh capital infusion Rs 2,153 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the bank during the financial year 2019-20, as Government's investment.

Hindustan Aeronautics said CARE Rating has downgraded it's rating on the bank facilities of the company worth Rs 7300 crore to AA+ from AAA.

Punjab National Bank said the bank has issued and allotted Rs 1500 crore Tier-II (Basel III Compliant) Capital Bonds at a coupon of 8.15% per annum on private placement basis.

H.G. Infra Engineering said it has been declared L-1 bidder by the National Highways Authority of India for the construction of proposed Rewari Bypass (NH-1l) as Feeder Route in Rewari district in the state of Haryana (Design length - 14.40 km) on Hybrid Annuity Mode amounting to Rs 522.02 crore.

Piramal Enterprises said meeting of board of directors will be held on 28 December 2019, to consider and approve the issue of secured nonconvertible debentures on private placement basis amounting up to Rs 2,750 crore. It also informed that its right issue will open on 7 January 2020 and close on 21 January 2020.

Yes Bank said Brickwork Ratings downgraded the ratings of its Lower Tier II Bonds, from BWR AA- to BWR A, and of Upper Tier II Bonds, Hybrid Tier I Bonds and Innovative Perpetual Debt Instruments from BWR A+ to BWR A-. The outlook will continue as negative considering the risk of continuing weakness in asset quality and to monitor the capital raising plans of the bank to provide cushion to absorb any increase in risk weighted assets and assist credit growth

HCL Technologies announced the opening of a Global Delivery Center (GDC) in Moncton, New Brunswick, Canada. The GDC will focus on technology areas in application development, support, testing, and servicing global clients. HCL will draw on its 10-year track record of success in Canada to assist tech companies as they continue to grow in the digital age.

Bharti Infratel said the Government approvals for amalgamation between Indus Towers and Bharti Infratel have not been received, and consequently, conditions precedent could not be completed within the extended timeline i.e. 24 December 2019. The board of directors have extended the long stop date till 24 February 2020. Completion of merger is contingent upon receipt of requisite regulatory approvals.

Bharti Airtel said its subsidiary Airtel Africa Plc announced the price for the initial public offering (IPO). The price for the IPO has been set at MK 12.69 (USD 0.021) per Ordinary Share. The Subsidiary expects to raise gross proceeds of approximately up to MK 27.92 billion (USD 37.5 million).

NIIT Technologies said the board of directors has approved buy-back of up to 19,56,290 fully paid equity shares at a price of up to Rs 1,725 per share aggregating up to Rs 337 crore. The number of securities proposed to be bought back represents 3.1 % of the existing paid up equity share capital of the Company.

Tata Motors said it has received NCLT order sanctioning the Scheme of Arrangement between the Company and Tata Advanced Systems for transfer of the Defense Undertaking.

Chalet Hotels said it has signed a franchise agreement with Hyatt India Consultancy (Hyatt) and its affiliates for Hyatt Regency Navi Mumbai Airoli. The Company's upcoming around 260 keys hotel at Airoli, Navi Mumbai will be the first Hyatt Regency branded hotel for Chalet.

Hindalco Industries said its Muri refinery in Jharkhand restarted production of Alumina after receiving consent to operate from Jharkhand State Pollution Control. On 10 April, 2019 the company had informed that operations of Alumina plant were suspended due to the spillage in the red mud cake storage area. Going forward, the company may not need to import Alumina.

GE T&T India said it has executed an agreement to sell its undertaking at Naini, Allahabad to M/s Shirdi Sai Electricals. This will result in optimising the utilisation level of the transformer manufacturing factories in the company and consolidation of company's transformer manufacturing related operations in India.

The S&P BSE Sensex will be reconstituted today, 23 December 2019. As a part of the rejig, Titan Company, UltraTech Cement, Nestle India will be added to BSE Sensex whereas Tata Motors, Tata Motors DVR, Vedanta, Yes Bank will be deleted from the BSE Sensex. Any change in index weights can result in portfolio churns for major funds.

The BSE also announced rejig in 14 other indices. However, there was no change in the S&P BSE Bankex. InterGlobe Aviation, Info Edge (India) and SBI Life Insurance will replace Glenmark Pharmaceuticals, Cadila Healthcare and Edelweiss Financial Services from S&P BSE 100 index.

Among other changes, the BSE will add Syngene International, Thermax and Gujarat Gas in the BSE 200 index and exclude Graphite India, HEG and Indiabulls Ventures from the index.

KEC International said it has secured new orders of Rs 1,520 crore across its various businesses. The urban transport business has secured an order of Rs 964 crore for the construction of elevated via duct along with 8 stations of the Delhi Metro Phase IV project, from Delhi Metro Rail Corporation (DMRC). The transmission & distribution business has secured two orders of Rs 391 crore for construction of 400 kV transmission lines in Nepal. The railways business has secured an order of Rs 165 crore for construction of road over bridges in Western India. The announcement was made on Saturday, 21 December 2019.

Wipro said it has partnered with the National Association of Software and Services Companies (NASSCOM) to launch the FutureSkills platform for 10,000 students from over 20 engineering colleges in lndia. This initiative will create a talent pool of students, certified by Wipro and NASSCOM. This is a part of Wipro's Corporate Social Responsibility programme, TalentNext which aims to enhance the quality of engineering education by preparing faculty and academic leaders to train students. The programme will help students keep pace with the emerging technologies - Artificial intelligence, Big Data, Cloud Computing, Cybersecurity and Internet of Things (IoT) - to make them future-ready.

Rallis India said The National Company Law Tribunal (NCLT), Mumbai Bench, approved the merger of Metahelix Life Sciences with Rallis India by absorption of Metahelix Life Sciences (Transferor company') with Rallis India (Transferee company') and their respective shareholders. The certified copy of the Order from NCLT for the same is awaited. The NCLT Bengaluru Bench sanctioned the scheme vide its order dated 11 November 2019. Metahelix Life Sciences is a wholly-owned subsidiary of Rallis lndia.

Prestige Estates Projects said its board approved issue and allotment of 13,441,654 equity shares at a price not less than floor price of Rs 323.22 per share to GAMNAT Pte Ltd by way of preferential issue. The board also approved increase in the authorized share capital of the Company and amendments to Clause V of the Memorandum of Association of the Company Issue of Securities to Qualified Institutional Buyers.

Jammu & Kashmir Bank said Reserve Bank of India has found that the bank has under-reported bad loans by Rs 884 crore in the year ended 31 March 2019. The bank said that out of Rs 884 crores divergence in provisioning, a provision of Rs 54 crore has already been made upto 30 June 2019. Hence, the remaining impact is Rs 830 crore.