Stocks in news: Reliance Industries, Rallis India, Indian Bank, Infosys and more - Business Today

Stocks in news: Reliance Industries, Rallis India, Indian Bank, Infosys and more - Business Today

Stocks in news: Reliance Industries, Rallis India, Indian Bank, Infosys and more - Business Today

Posted: 25 Jun 2021 08:33 AM PDT

Sensex and Nifty were likely to open flat as  Nifty futures on the Singapore Exchange were trading just 11 points, or 0.07 per cent higher at 15,849.  On Thursday, bechmark indices closed higher led by gains in IT stocks ahead of Infosys  Rs 9,200-crore share buyback. Sensex closed 392.92 points or 0.75 per cent higher at 52,699 and Nifty surged 103.50 points or 0.66 per cent to 15,790.

Here's a look at stocks which are likley to remain in news today.

RIL: Reliance Industries Chairman Mukesh Ambani has announced a mega Rs 75,000 crore investment plan in clean energy over the next three years. He said RIL has started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar.

LIC Housing Finance: LIC will infuse equity capital worth about Rs 2,334.70 crore into its subsidiary LIC Housing Finance by buying an additional stake in the company. LIC Housing Finance will issue shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis.

Bank of Maharashtra: The state-owned lender received shareholders' nod to raise up to Rs 5,000 crore equity capital through various modes, including rights issue and preference issue.

Indian Bank: The PSU lender said it has raised Rs 1,650 crore through the QIP launched earlier this week. In March this year, the committee of directors of capital raising of the bank (committee) had accorded approval for raising equity capital aggregating up to Rs 4,000 crore through QIP in one or more tranches.

Rallis India: The firm plans to enhance manufacturing capacities as well as build a new integrated research development center, and is in the process of launching new products.

Union Bank of India: The state-owned lender has raised Rs 850 crore by issuing Basel-III-compliant bonds on a private placement basis. The bank has allotted Basel-III-compliant tier-II bonds, which are in the nature of debentures eligible for inclusion in tier-II capital, aggregating to Rs 850 crore.

Future Retail: Future Retail Ltd has sought extension till July 31, 2021 to file its results for the quarter and year ended March 31, 2021. In order to safeguard its employees, it has not yet completely started its key offices in Mumbai, Future Retail Ltd said in a filing to the stock exchanges.

Bodal Chemicals: The company reported a consolidated profit at Rs 21.73 crore in Q4FY21 against Rs 25.84 crore in Q4FY20. Revenue rose to Rs 432.73 crore from Rs 368.47 crore YoY.

Majesco: Promoter Aurum Platz IT Pvt Ltd bought 14.31% stake in the company via off market transaction, taking total shareholding to 34.57% from 20.26% earlier.

NBFCs: The Reserve Bank of India (RBI) on Thursday put in place certain conditions for non-banking financial companies (NBFCs) to pay dividend to shareholders from financial year ending March 31, 2022.CEAT: The tyre maker said it has launched a new range for compact SUVs. SecuraDrive range would cater to the fast-growing compact SUV segment. The new range of tyres offers numerous benefits like precise steering control and cornering stability.

Greaves Cotton: The Indian engineering firm will launch two high-speed electric two-wheelers in two years as it looks to benefit from the growing demand for battery-powered vehicles in the country.

Infosys: The Rs 9,200 crore share buyback by the IT firm will begin today.

Charges against Trump Organization expected as soon as next week, Trump attorney says - USA TODAY

Posted: 25 Jun 2021 02:33 PM PDT


The New York attorney general's two-year civil probe into the Trump Organization is now a criminal investigation. Here's what we know so far. USA TODAY

Criminal charges are expected to be filed against the Trump Organization as soon as next week in connection with the Manhattan district attorney's long-running inquiry into the financial dealings of former President Donald Trump's namesake company, a Trump attorney said Friday.

Trump attorneys met with local prosecutors Thursday in an attempt to persuade officials not to proceed, Trump Organization lawyer Ron Fischetti said in an interview with USA TODAY.

"In my more than 50 years of practice, never before have I seen the District Attorney's Office target a company over employee compensation or fringe benefits," Fischetti said. "Even the financial institutions responsible for causing the 2008 financial crises, the worst financial crisis since the Great Depression, were not prosecuted."

A spokesperson for Manhattan District Attorney Cyrus Vance Jr. declined to comment.

The timing of the possible criminal charges was first reported by the New York Times.

Fischetti said prosecutors have not succeeded in securing the cooperation of Allen Weisselberg, the Trump Organization's longtime chief financial officer and the most knowledgeable of the former president's business operations.

For more than two years, Vance has been digging deep into the operations of the Trump family business for possible fraud involving banks, insurance companies and taxing entities.

The New York prosecutor won a major, public victory in February when Trump's accounting firm was forced to turn over eight years of tax records as part of a protracted legal battle that ended at the Supreme Court.

Vance's investigation appeared to have accelerated last month with the disclosure that a special grand jury had been convened to consider possible evidence of criminality by the president, his business associates or the company itself.

The district attorney has been examining the far-flung Trump Organization's banking, tax and insurance transactions with a focus on whether the company manipulated property values to obtain favorable loans and reduced tax rates.

Prosecutors also have been weighing hush-money payments made to women on Trump's behalf and how that money was documented.

Former Trump personal attorney and fixer Michael Cohen has acknowledged meeting with New York prosecutors multiple times in cooperation with their investigation.

Cohen has told USA TODAY that he would not comment on any aspect of the case, citing the ongoing investigation and his potential role in it as a key witness for the prosecution. But he has commented extensively on Twitter on how grand jury proceedings significantly accelerate the investigation.

Cohen, who pleaded guilty in 2018 to federal charges that included campaign-finance violations for paying hush money to women who claimed to have had sex with Trump and for lying to Congress, has repeatedly pointed to Weisselberg as most knowledgeable of the former president's business operations.

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Recognized as a visionary company Penske Logistics | Business -

Posted: 25 Jun 2021 02:46 PM PDT

Penske Logistics Placed by GartnerReported by Global Research and Advisory Companies in the Visionary category as part of the 2021 Gartner Magic Quadrant for Third Party Logistics in North America.

Mark Alten, President of Penske Logistics, said in a statement, "By being recognized as a visionary within the industry, we can strengthen our innovation efforts and leverage technology to provide our customers with industry-leading services. Will be. " "Through the ClearChain Technology Suite, Penske can increase the level of end-to-end visibility and transparency to deliver greater results and satisfaction to our customers."

Penske's ClearChain technology suite is driven by over 25 years of industry knowledge and an industry-leading Tier 1 platform. ClearChain provides visibility, enhances supply chain optimization, improves performance and keeps operations going.

Gartner Magic Quadrant evaluates North America's leading third-party logistics providers based on their vision integrity and ability to execute.

Noteology develops kits to revive odors | Business -

Posted: 25 Jun 2021 04:30 PM PDT

The scent of lemon and rose is unmistakable to the average nose. For those dealing with the protracted effects of the COVID-19 virus, simple odors can be the key to unleashing lost sensations.

Maggie Martinelli understands the fear and despair associated with losing the sense of smell.

Martinelli, vice president of administration and operations for the Scranton Area Community Foundation, tested positive for COVID-19 in February and is still affected by the virus.

Not only did Martinelli lose the ability to smell, but over time he began to detect an unusual scent called parosmia.

"I quickly lost my sense of smell and developed parosmia about two months after developing COVID," she said. "I think it can be difficult for people to understand what it's like to lose such an important part of your life."

Danielle Fleming, CEO and founder of Noteology, recognized the urgent need for a solution and assembled a product that would help people regain their normal sensations.

When customers began to come to her store at the Scranton and Clarks Summit, after signing up for COVID-19, she was desperate to regain their sense of smell, she took action.

Studying the psychological effects of aroma on people's moods and behaviors, Fleming has developed a sensory training kit that provides users with step-by-step instructions on how to perform aromatherapy at home.

She said the kit was developed based on the work of Professor Thomas Hummel of the Smell and Taste Clinic at the University of Dresden, Germany. In a 2009 study, Hummel investigated whether short-term repeated exposure to odors over a 12-week period had any effect on the odor ability of groups suffering from stuffy nose.

Fleming expanded his research by adding scented mantra cards to increase the pathways between the senses of smell and the perception of smell.

"Your brain needs to learn how to smell again," she said. "You are retraining it by linking what you are sniffing with how your brain recognizes and processes it."

Fleming has partnered with the Scranton Community Foundation and the Scranton Primary Health Care Center to distribute kits free of charge to economically disadvantaged people.

According to Martinelli, the Foundation has provided a $ 2,000 grant to Scranton Primary Health.

In addition to the English kit, two other versions have been translated for the Spanish and Gujarati populations.

According to Fleming, the kit is set up for four months of training and can be refilled for anyone who wants to continue the program.

The kit includes four scented bottles of cloves, eucalyptus, lemon and rose, and a body sensation training booklet with four scented mantra cards and a sensory tracking sheet.

The kit is available for $ 45.99. You can also order by phone by calling 570-343-2100. A portion of the proceeds will be donated to the Monell Chemical Senses Center in Philadelphia.

Joseph Hollander, CEO of Scranton Primary Health Care Center, said the project is an essential resource for the community as many patients do not have or have access to similar services.

Hollander added that the kit can not only improve the overall quality of life of people who are unaware of warning signs such as something burning, gas leaks, but can also have a more significant impact. I did.

"It can save lives," he said.

APEC is looking to partnerships to support business recovery -

Posted: 24 Jun 2021 10:50 PM PDT

Wellington, June 25 (Xinhua)-21 APEC Ministers of Finance and Business Leaders were effectively convened on Friday to continue to respond to pandemic companies, especially micro and SMEs, and the economy You can focus on helping your recovery.

New Zealand Finance Minister and Deputy Prime Minister Grant Robertson have joined the APEC Business Advisory Board (ABAC) to strengthen the exchange of views and experiences on best practices to help businesses survive health and economic crises. Hosted an informal Finance Ministers' Meeting with.

In his opening remarks, Robertson, who also chairs the APEC Finance Ministers process in 2021, said informal dialogue provided a better understanding of the concerns of the private sector within the APEC region. These promises will inform the policy debates held by APEC Finance Ministers at a meeting in late October.

"This year's Finance Minister's process focuses on the macroeconomic response to COVID and a long-term view of how the fiscal policy and budget framework will evolve as a result of a pandemic," Robertson said. Said.

"Partnerships between governments, businesses and civil society are important to the region's response to COVID-19 and will continue to play an important role in long-term recovery."

Continuing challenges such as social inequality resulting from the rapid evolution of technology, accelerated climate change, and widening inequality in income and wealth distribution are the APEC economy, especially given the uneven impact of COVID-19. Continues to be the focus of.

The discussion described the importance of addressing these issues and the various policy tools used to support the community.

These measures include support for maintaining employment and livelihoods, financial and financial stimuli to support businesses, especially trade borders for essential medicines, equipment and services, and restrictions on protected trade principles. Includes resistance.

In the dialogue, ministers and business leaders shared views on the most important and influential policies that the economy should focus on to support recovery.

Robertson reiterated that fiscal and monetary policy must continue to play a role in combating the effects of the pandemic, but it is also clear that stimulus alone is not enough.

"The pandemic has increased the need for complementary macroeconomic and structural policies," he said.

Business leaders emphasized the importance of trade and open markets in promoting the availability of vaccines, essential health products and related products and services and keeping the global supply chain running.

"Changing a continuous pandemic is a top priority for the APEC economy, using extensive vaccination and testing for a safe and seamless resumption of borders as a prerequisite for overcoming the health crisis and for economic recovery. It's clear that we have to, "explained Rachel Taureley. , 2021 Chairman of the APEC Business Advisory Board.

"Trade enables the region to return to sustainable economic growth," Taureley added.

Ministers and business leaders also discussed the importance of sustainable and inclusive regional recovery and how economies and businesses can work together to achieve this goal.

"Sustainability and inclusion are ongoing challenges, and we need to strengthen our response in areas where we need to learn to coexist with COVID," emphasized Taulleei. She emphasized the need for action to address climate change and other environmental risks for a healthy planet and ultimately for a healthy economy and society.

"Some people are already paying too high for a pandemic, such as women, young people, indigenous peoples, rural people, and those who don't have the skills needed for an increasingly digital economy," she added. "When we move forward, their well-being needs to be a priority."

APEC Executive Director Dr. Rebecca Sta Maria acknowledged Member States' commitment to expanding cooperation last year and reminded ministers that an unprecedented crisis requires a holistic, bold and practical response. It was.

"In addition to international cooperation and coordination, inter-sectoral and inter-ministerial collaboration is just as important as member states seeking long-term, sustainable solutions to economic resilience and recovery." Dr. Stamalia concluded.


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