Actions to follow on September 20, 2023
HDFC Bank: The Reserve Bank of India (RBI) has approved the reappointment of Sashidhar Jagdishan as chief executive officer (CEO) and managing director (MD) of HDFC Bank, the lender said in an exchange filing yesterday. The central bank approved Jagdishan's re-election for a three-year term starting October 27, 2023.
At closing on Monday, HDFC Bank share price fell 1.93 per cent to Rs 1,629.65 apiece on the NSE.
Tata Motors: Tata Motors, owned by the Tata Group, has announced that it will increase the prices of its commercial vehicles by up to 3 per cent, effective October 1, 2023. The country's largest commercial vehicle maker has said that the price increase is to compensate for the residual impact of the past. input costs and will be applicable to the entire range of commercial vehicles.
At closing on Monday, Tata Motors share price jumped 1.04 per cent to Rs 640.85 apiece on the NSE.
Adani Group Shares: A fresh plea has been filed before the Supreme Court of India questioning the integrity of the existing committee that is investigating allegations against Gautam Adani and his business conglomerate by US-based short seller Hindenburg Research. The petitioner has urged the high court to constitute a new panel comprising persons of impeccable integrity and no conflicts of interest with respect to the Adani-Hindenburg saga.
Torrent Farma/Cipla: India's Torrent Pharmaceutical is in preliminary talks with Apollo Global Management to obtain a loan of up to $1 billion to help finance a planned bid for Cipla, Reuters reported citing two people briefed on the discussions.
Biocon: Biopharma major Biocon has received approval from its board of directors for the appointment of Peter Bains as group chief executive officer (CEO), with effect from September 18, 2023. Bains will report directly to Biocon group chairman Kiran Mazumdar- Shaw.
