Stocks in News: Yes Bank, Grasim Industries, Asian Paints and Others

Axis Bank

A monetary penalty of Rs 30 lakh has been imposed on Axis Bank by the Reserve bank of India for violating credit card rules.

Asian Paints

The paint manufacturer company now holds a 60% stake in Obgenix Software (company name White Teak), up from 49% earlier with the company acquiring an additional 11% stake in the company. Hence, White Teak has become a subsidiary of Asian Paints.

Ipca Laboratories

The US Food and Drug Administration (USFDA) made 8 observations about company’s Pithampur formulation manufacturing facility in Madhya Pradesh and issued from 483. The inspection of the facility by the USFDA took place on June 15-June 23, this year.

Rail Vikas Nigam

The Maharashtra Metro Rail Corporation has chosen the state-owned railway company as the lowest bidder for designing and constructing an elevated metro viaduct. The project will cost Rs 394.9 crore and will likely take 30 months to complete.

Yes Bank

Yes bank has obtained the board’s approval for raising funds up to Rs 2,500 in Indian/foreign currency via issue of debt securities.

Grasim Industries

The Aditya Birla Group company said that the Board of Directors’ Finance Committee had given its approval for the issuance of non-convertible debentures on a private placement basis for up to Rs 2,000 crore in one or more tranches.

HDFC Life Insurance Company

In light of the proposed merger between HDFC and HDFC Bank, the Insurance Regulatory and Development Authority of India (IRDAI) has granted its approval for the transfer of shares of HDFC Life from HDFC to HDFC Bank. In order to increase its holding to more than 50% of its total share capital, IRDAI also gave HDFC permission to purchase additional HDFC Life shares.