Adani Power: The company on Tuesday approved a proposal to hive off its flagship Mundra power station to its subsidiary so that it can focus on investment and power generation separately. The company’s objectives is to source funds more efficiently for investing in capacity expansion of its arms or acquiring assets.
Reliance Communications: Rating agencies Fitch and Moody’s downgraded credit rating of Reliance Communications on account of its fragile liquidity position and limited ability to pay back debt.
Rate-sensitive stocks: Auto, banking and real estate will remain in focus ahead of RBI monetary policy outcome later in the day.
ONGC: The Department of Investment and Public Asset Management (DIPAM) will shortly seek cabinet approval for Oil and Natural GasBSE 0.79 % Corp (ONGC) to buy the government’s entire stake in refiner Hindustan PetroleumBSE -0.73 % Corp in line with the oil ministry’s proposal of creating a domestic oil giant, people with direct knowledge of the matter told ET.
TCSBSE -0.76 % and Siemens: Tata Consultancy ServicesBSE -0.76 % (TCS) and electronics company Siemens on Tuesday announced a collaboration around Internet of Things (IoT) innovation that will enable customers to benefit from data insights and services based on “MindSphere,” a cloud-based, open IoT operating system from Siemens.
Bharti Airtel: Bharti AirtelBSE 1.48 %, the country’s No. 1 phone company, received statutory approval on Tuesday from the Competition Commission of India (CCI) for its proposed merger with the Indian unit of Norway’s Telenor.
Oil India: Oil India Ltd, the nation’s second largest explorer, said it has made an oil discovery in the Baghjan area of Upper Assam Basin.
Tyre stocks: Shares of companies such as MRF, Ceat and JK Tyre will remain in focus as domestic rubber prices plunged to its lowest level in 7 months.