Stocks to watch: HDFC, Tata Steel Long, Kotak Mahindra Bank, IndusInd Bank, TCS

Here is the list of the top 10 stocks that will make the news today:

HDFC/HDFC bank: India’s largest private lender, HDFC Bank, said on Monday that the Reserve Bank of India (RBI) had approved its proposed merger with parent company and mortgage lender HDFC. The two entities had announced an agreement in April.

Kotak Mahindra Bank: The Reserve Bank of India on Monday sanctioned private sector lenders Kotak Mahindra Bank for failing to comply with certain regulatory guidelines and imposed a fine of 1.05 crore. The RBI also imposed a fine of 1 crore on Bank IndusInd.

Tata Consulting Services: The IT major said the punitive damages awarded by a US court against the company in the EPIC Systems Corporation case have been reduced to $140 million. The company said the case was not supported by facts and that it did not misuse or take any advantage of EPIC’s documents.

Tata Steel long products: The company has completed the acquisition of state-owned Neelachal Ispat Nigam Ltd for 12,100 crores, the Center said. The Odisha-based steelmaker’s strategic divestment had been ongoing since January 2021.

Tata engines: The automaker expects the second half of the current fiscal year to be better in terms of performance with a gradual improvement in the overall supply situation and stabilization of raw material prices, according to the chairman of the company. company, N Chandrasekaran.

Vedanta: The mining giant announced a 3% increase in its aluminum production to 5,65,000 tonnes in the April-June quarter of the current financial year. Mined metal production at Zinc India increased by 14% to 2,52,000 tonnes due to higher ore production at all mines and supported by better mill recovery.

Hotel companies: The Central Consumer Protection Authority has banned hotels and restaurants from levying service charges automatically or by default on food bills and allowed customers to file complaints for violations. The CCPA has published guidelines to prevent unfair commercial practices and the violation of consumer rights with regard to the collection of service fees.

cipla: The US Food and Drug Administration has sent a warning letter to the drugmaker, citing two observations relating to violations of good manufacturing practices at its Indore plant. The observations are related to a drug deposit for a product that was to be manufactured at the plant. .

Muthoot Finance: The gold lending-focused NBFC said it had received approval from the Reserve Bank of India to open 150 more branches across the country. The non-bank lender plans to open these branches in the south and north of the country.

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