Stocks to watch: SBI, IDFC First Bank, Dish TV, HUL, PowerGrid, Indigo

State Bank Of India: State Bank of India (SBI) has announced that it is ready to adopt the new recommended interest rate benchmark required from LIBOR termination in its day-to-day business and product pricing. All systems and processes at SBI are aligned to support these Alternate Reference Rates (ARR) linked transactions. As per the recommendations of RBI and other banking regulators across the world, all new transactions will take place with reference to the new benchmark rates from January 1, 2022.

IDFC First Bank: IDFC First Bank in its board meeting has considered the proposal for merger of ‘IDFC Limited’ and ‘IDFC Financial Holding Company (Promoter Group)’, the company informed the exchanges on Thursday. Further, the Board has expressed that it is in principle in favor of the above merger, subject to the statutory and regulatory approvals of the Board of Directors, shareholders, creditors, of the entities concerned.

NTPC: State-owned power giant NTPC Renewable Energy Limited (NREL) will float a global engineering procurement and construction tender to set up a 3GW renewable energy project, which will have a battery storage system. 15,000 crore by February 2022, according to a senior official. SAIL Power Company Limited (NSPCL), a joint venture between NTPC and SAIL, has paid the second interim dividend. 45 crore for 2021-22 for 50 per cent stake in NTPC, said a company statement.

ITC: Diversified entity ITC Ltd on Thursday said it has collaborated with Invest India, a not-for-profit venture by the central government, to crowdsource innovative ideas for single-use plastic replacements to promote and facilitate national investment. and automate waste segregation.

Dish TV: The nearly four-month-long battle between Dish TV India Ltd and its largest shareholder Yes Bank Ltd could turn out to be a protracted one as Dish TV decided not to disclose the voting results of three resolutions presented to the shareholders and instead, voted Presented the results. In a sealed cover in Bombay High Court. Dish TV told exchanges after its Annual General Meeting (AGM) on Thursday that Dish TV will present the outcome of three resolutions to the Bombay High Court as claimed by the company.

HUL: FMCG distributors have resolved to stop selling select products of packaged goods major Hindustan Unilever Ltd in Maharashtra, citing concerns over the company’s inability to negotiate with them on price disparity between traditional distributors and organized business-to-business distributors. have taken. Maharashtra is a major market for companies producing Dove Shampoo and Brew Coffee.

RBL Bank: The board of private lender RBL Bank on Thursday constituted a search committee to identify candidates for the post of managing director and chief executive officer from within and outside the bank. Currently, the bank is headed by interim chief executive Rajiv Ahuja, whose appointment was approved by the regulator on Wednesday for three months from December 25. On Saturday evening, the bank had said in two separate regulatory statements that the RBI has appointed an additional director on its board that Chief Executive Officer Vishwavir Ahuja will go on immediate leave.

Indigo: Shareholders of InterGlobe Aviation, which operates India’s largest airline IndiGo, have passed a resolution to amend a controversial ROFR clause in the company’s association of associations, according to an exchange filing. Exchange filings showed that 99.99% of shareholders voted in favor of the resolution. The amendment gives promoters the right of first refusal on acquisition of each other’s stake.

Power Grid Corporation of India: The company has approved the investment proposal for the expansion of POWERGRID Telecom in the data center business and for setting up of a data center at Manesar at an estimated cost of approx. 322 crores.

Fabric Stock: On the recommendations of the GST Council, the Central Board of Indirect Taxes and Customs (CBIC) announced that the GST rate on textiles, clothing and footwear will be increased from 5% to 12% with effect from January 1, 2022.