Stocks to watch: ITC, Axis Bank, Paytm, Airtel, NBFCs

ITC Limited: In its first investor meeting held on Tuesday, cigarette-to-hotel conglomerate ITC Ltd expressed its willingness to list its IT arm on the basis of recovery of tourism industry, make select acquisitions in consumer goods and divest the hotel business. The company also outlined the capex of approx. 3,000 crore per year, total 10,000 crore in the next three years.

axis Bank: has said that it will not join the demand for extension of the deadline for meeting financial parameters on debt restructured loans under the Kamath committee framework due to pandemic-related stress. It also said that there are currently no talks about a deal with Spandana SFURTI, refuted reports of the third-largest lender being keen to buy out the micro-lender.

Bharti Airtel: has said that it is collaborating with Capgemini to bring 5G based enterprise grade solutions to the Indian market. The two companies will bring together their experience in connectivity and 5G solutions, and systems integration capabilities to develop a range of India-focused use cases.

One97 Communications: The anchor lock-in period for Paytm’s parent One97 Communications ends today. Paytm’s high-profile stock market debut was disappointing as the listing wiped out more than double of the money it raised through its IPO price. 18,300 crores.

Adani GroupBillionaire Gautam Adani’s realty arm is in talks to acquire troubled Indian developer Ozone Group for an enterprise value of around $1 billion. Adani Realty Ltd seeks to acquire Bengaluru-based Ozone, which has outstanding debt of more than Rs. 6,000 crores. As part of this transaction, Adani’s 10-year-old developer arm will take on a loan from Ozone, which is struggling to repay creditors.

Trent Limited: A part of the Tata Group, is planning to regain its ground in the beauty business, which ended 23 years ago. Trent is looking at creating new lines of in-house cosmetic brands which could be the vehicle of growth. These products can be retailed through existing sizable outlets under Westside or through standalone stores and through digital channels.

NBFCThe Reserve Bank of India on Tuesday issued a Prompt Corrective Action (PCA) framework for non-banking finance companies (NBFCs), detailing penal action against shadow lenders if their capital adequacy ratio falls or Non-performing assets (NPAs) rise above a certain threshold. , RBI said in a notification on its website that the new framework for NBFCs, first of its kind, will come into effect from October 1 next year.

Vodafone Idea: The payment holders of Non Convertible Debentures (NCDs), comprising their principal amount along with interest, meet the prescribed time limit. It added that unsecured redeemable NCDs stood at 7.57% and this comes at a time when the telco has received a major boost. Telecom is in talks with investors to raise more funds from the relief package.

Glenmark Pharma: Subsidiary Ichnos Sciences, a biotechnology company developing biologics in oncology and autoimmune diseases, has licensed the commercialization rights of a monoclonal antibody for autoimmune diseases for €20.8 million (approximately). 180 crores). Ichnos will receive an upfront payment of €20.8 million as well as additional development and commercial milestone payments and tiered royalties based on future global sales.

sugar stockA WTO panel has ruled in favor of Brazil, Australia and Guatemala in their trade dispute with India over sugar subsidies. In cases brought before the WTO in 2019, rival producers alleged that India broke WTO rules by providing excessive domestic support and export subsidies for sugar and sugarcane. India will appeal the decision.