Today, the stock market enjoyed a recovery, with stocks up over 1% after a short break. Here are some key companies to watch due to recent news:
Mishtann Foods: The government’s financial watchdog, Sebi, has asked Mishtann Foods to return nearly Rs 100 crore. This money was said to be misused in questionable deals with related businesses.
Canara Bank: The Reserve Bank of India (RBI) has approved Canara Bank to sell parts of its stake in Canara Robeco AMC and Canara HSBC Life. They plan to reduce their ownership by 13% and 14.5% respectively through an IPO (Initial Public Offering).
Spandana Sphoorty: The credit rating agency Icra has changed Spandana Sphoorty’s outlook from stable to negative, though their ratings remain at ICRA A+.
Nykaa: Nykaa announced that Nihir Parikh has stepped down as the CEO of Nykaa Fashion, effective December 5. Dr. Reddy’s Laboratories: This company reported that the Kazakhstan revenue authority slapped a fine of Rs 28.7 lakh on its subsidiary.
– ABFRL (Aditya Birla Fashion and Retail): The company revealed in a notice that it received a GST demand for Rs 2.45 crore.
– Ola Electric: The Central Consumer Protection Authority has requested more documents from Ola Electric regarding a show cause notice linked to over 10,000 complaints.
– Afcons Infrastructure: The company has successfully completed the longest tunneling project for the Delhi Metro Rail Corporation in Phase 4 of the Delhi Metro.
– Ramco Systems: Ramco has teamed up with Hanjin Information Systems to help Korean aviation companies improve their Maintenance and Engineering (M&E) services.
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