Dr Reddy s Laboratories: The drug major expects its business growth to be volatile in the current fiscal as the coronavirus pandemic continues to bring in disruptions and impact the markets across the globe.
Info Edge (India): The market watchdog has approved to launch its Rs 7,500 crore initial public offering. According to the Economic Times reports that Zomato could launch its much-awaited IPO later in July.
ONGC: The state-owned firm said it will procure equipment and services worth over Rs 30,000 crore to support its oil and gas exploration and production operations, which will provide local entities business and support Aatmanirbhar Bharat initiative.
Here are the top stocks to track in today s session:
India Pesticides: Shares of recently concluded India Pesticides IPO will commence trading on the exchanges today. The issue price has been fixed at Rs 296 per share and according to analysts, the scrip can list at a premium of over 15 per cent.
Avenue Supermarts: The owner and operator retail chain D-Martsaid its standalone revenue from operations rose 31.27 per cent YoY to Rs 5,031.75 crore for the quarter ended June 30.
IndoStar Capital Finance: The company has acquired 25 crore share in its home finance subsidiary for Rs 250 crore, the company said on Friday.
HCL Technologies: The IT major has announced a multi-year agreement with Fiskars Group to help them with digital transformation.
The benchmark indices Sensex and Nifty shed 0.8 per cent each last week. Going into trade, investors will continue to track cues from global markets in order to gain direction in movement. Rising vaccination and reducing Covid cases are likely to provide optimism in the market. So far, India has recorded 3.05 crore cases and over 4 lakh fatalities. Meanwhile, the cumulative number of Covid-19 vaccine doses administered in India has crossed 34.46 crore, according to the Union Health Ministry. Furthermore, large and mid-cap IT companies will remain in focus this week as Q1 FY22 result season commences in India, with Tata Consultancy Services slated to post its results on July 8.
Vodafone Idea Ltd s demand for a further relaxed payment schedule for their adjusted gross revenue (AGR) payment is unjustified and amounts to blackmailing the government, a non-profit group has said. We are astonished with the request of VIL to defer payment of Government dues due to its inability to raise funds which clearly establish its mismanagement of affairs in terms of operation and financial management. It has miserably failed to raise funds by dilution of equity and upgrade its networks with latest technology to reduce cost etc, said Telecom Watchdog in a letter to the Communications Minister. Telecom is one of the few sectors unaffected due to Covid-19 pandemic and its revenues have actually increased due to demand for data services, it said. Such a request only points to the habit of seeking further concessions by blackmailing the government in the name of reduction in competition in the liberalised sector. The deferments in payment of Government dues are sought by
Consumer body asks govt to reject Vodafone Idea s call for relief, seeks forensic audit
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Consumer body asks govt to reject Vodafone Idea s call for relief, seeks forensic auditET Bureau
Last Updated: Jul 04, 2021, 01:11 PM IST
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Synopsis
ET had reported last week that Vi has written to the telecom department expressing its inability to raise funds due to the low tariff structure of the industry which was hurting the health of the industry. It is also seeking deferment of spectrum dues of Rs 8,292 crore coming up for payment in April, 2022.
Telecom Watchdog pointed out that Vi is losing customers as it is not investing in network quality upgrade and in new tech like VoLTE.