Mahindra and Mahindra in focus

Mahindra and Mahindra (M&M) said the operations of the company in March, 2020 have been impacted due to supply disruptions of certain critical components for production of BS-VI vehicles on account of outbreak of Coronavirus in China and fire at a plant of a major supplier which is estimated to result into reduction in production / sales volume of the company (Automotive Division) and Mahindra Vehicle Manufacturer, a wholly owned subsidiary of the company, by around 12,000 units in the month of March, 2020.

Reliance Industries (RIL) informed that Reliance Retail Ventures (RRVL), a subsidiary of RIL, has acquired 7,86,191 equity shares representing 100% of the equity share capital of Shri Kannan Departmental Store (SKDS) for a consideration of Rs 152.5 crore.

 

Maruti Suzuki India partnered with HDB Financial Service, a leading NonBanking Financial Company, to provide customized and attractive car loans for customers. The tie up will facilitate loans for both new and used cars.

HDFC reduced its retail prime lending rate on housing loans by 5 basis points with effect from 9 March 2020. The change will benefit all existing HDFC retail home loan customers.

Allcargo Logistics said that the company has received SEBI approval on its open offer to acquire approximately 3.17 crore shares or 26% stake in Gati at Rs 75 a share. On full acceptance of the open offer it will take Allcargo's stake in Gati to 46.83%. The open offer is expected to be launched in March 2020 and closed by April 2020.

Bank of Baroda said Moody's Investors Service (Moody's) affirmed its domestic and foreign bank long term and short term deposit ratings of Baa3, stable/P-3, and Bank of Baroda (London)'s foreign currency senior unsecured rating of Baa3, stable. Moody's has also affirmed the London branch's foreign currency senior unsecured MTN program rating of (P)Baa3. At the same time, Moody's has downgraded BOB's Baseline Credit Assessment (BCA) and adjusted BCA to ba3 from ba2.

Tata Steel said that a meeting of the committee of directors will be held on Monday, 9 March 2020, to consider and approve the issuance of unsecured Non-Convertible Debentures on private placement basis

Indusind Bank said that a meeting of the board of directors of the Bank will be held on 9 March 2020 to consider and approve raising of funds

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