Stocks in the news:
1.Axis Bank: Axis Bank has said its total exposure to SREI group does not exceed | 800 crore and the allegations by Australia-based news agency Scams Breaking on the bank's exposure to SREI Group are ‘grossly inaccurate and baseless.’ Axis Bank's total exposure to SREI group includes fund-based exposure worth Rs 731 crore and non-fund based exposure worth Rs 69 crore.
2.Indian Bank: Indian Bank has declared the NPA account of IL&FS Financial services as 'Fraud' and reported the same to the Reserve Bank of India. The bank has an exposure worth | 408 crore to the said account. The lender says that the account has been fully provided for, as per the regulatory requirement.
3.Majesco Limited: Majesco Limited has approved payment of interim dividend of | 974/- per equity share for the financial year 2020-21. The record date is 25 December 2020 and dividend payout will be 30 December 2020. Post this dividend payout company will be left with cash reserves estimated at |103 crore and real estate of ~1,20,000 square feet at Mahape, Navi Mumbai. The realisable value of this real estate is yet to be determined
4.PVR: PVR board will meet on December 18 to consider raising of funds via issue of equity or debt instruments
5.Biocon:Biocon Biologics has signed a Memorandum of understanding (MoU) with Christian Social Services Commission (CSSC), Africa in continuation of its Mission 10 cents affordable insulins program for low- and middle-income countries (LMICs). CSSC works with a network of more than 900 health facilities most of which are located in the rural area serving the rural population. Tanzania will be the first country in Africa that will benefit from this collaboration and the program is expected to roll out early next year.
1.Axis Bank: Axis Bank has said its total exposure to SREI group does not exceed | 800 crore and the allegations by Australia-based news agency Scams Breaking on the bank's exposure to SREI Group are ‘grossly inaccurate and baseless.’ Axis Bank's total exposure to SREI group includes fund-based exposure worth Rs 731 crore and non-fund based exposure worth Rs 69 crore.
2.Indian Bank: Indian Bank has declared the NPA account of IL&FS Financial services as 'Fraud' and reported the same to the Reserve Bank of India. The bank has an exposure worth | 408 crore to the said account. The lender says that the account has been fully provided for, as per the regulatory requirement.
3.Majesco Limited: Majesco Limited has approved payment of interim dividend of | 974/- per equity share for the financial year 2020-21. The record date is 25 December 2020 and dividend payout will be 30 December 2020. Post this dividend payout company will be left with cash reserves estimated at |103 crore and real estate of ~1,20,000 square feet at Mahape, Navi Mumbai. The realisable value of this real estate is yet to be determined
4.PVR: PVR board will meet on December 18 to consider raising of funds via issue of equity or debt instruments
5.Biocon:Biocon Biologics has signed a Memorandum of understanding (MoU) with Christian Social Services Commission (CSSC), Africa in continuation of its Mission 10 cents affordable insulins program for low- and middle-income countries (LMICs). CSSC works with a network of more than 900 health facilities most of which are located in the rural area serving the rural population. Tanzania will be the first country in Africa that will benefit from this collaboration and the program is expected to roll out early next year.