Stocks to watch: Reliance, TCS, Kotak Mahindra, CSB Bank, Indigo

Reliance Industries: Billionaire Mukesh Ambani’s company announced the acquisition of New York’s premium luxury hotel Mandarin Oriental for $98.15 million. Established in 2003, The Mandarin Oriental New York is a prestigious luxury hotel located at 80 Columbus Circle, directly adjacent to ancient Central Park and Columbus Circle.

Tata Consultancy Services: India’s largest IT firm said its board will consider the buyback proposal on January 12. The Mumbai-based company’s board is scheduled to meet on January 12 to approve and take on record the company’s financial results for the third quarter.

Tata Steel: The company reported over 2% growth in consolidated steel production to 7.68 million tonnes (MT) for October-December. The consolidated steel production of the company was 7.51 MT in the corresponding period of last financial year 2020-21.

Kotak Mahindra Bank: As a dispute between BharatPe founder Ashneer Grover and the lender over IPO financing escalated, the bank’s wealth management arm pledged to take legal action over Grover’s use of abusive language and threats.

Future Group Companies: Amazon Holdings NV has moved the National Company Law Appellate Tribunal against the December 17 order of the Competition Commission of India (CCI) revoking its approval for Amazon’s deal with Future Coupons over alleged misrepresentation. .

Sobha Limited: The company recorded sales volume of 1,322,684 sq ft super built-up area in Q3, a growth of 17% YoY. the selling price was 1,048 crore, up 18%.

CSB Bank: The Kerala-based lender’s managing director and chief executive officer CVR Rajendran has decided to take early retirement on health grounds, the bank said in a press release on Saturday. Rajendran, whose term was due to end only on December 8 this year, has reduced his term till March 31.

InterGlobe AviationCompany-run airline IndiGo said that it will reduce its capacity by 20% due to the ongoing wave of the Kovid-19 pandemic. The airline also said that it is waiving conversion charges for all new and existing bookings made for flights up to March 31, 2022 as a large number of passengers are changing their travel plans due to the rising number of infections.

Federal Bank: Informed the Exchanges that its Board will consider and extend the same 700 crore through issuance of bonds on private placement basis.

Mahanagar Gas: The company has increased the prices of CNG from 2.50 66/Kg and by PNG from 1.50 39.50/scm, with effect from January 8.