SUMMARY Stocks to watch for in the news: Asian Paints, Bharti Airtel, Axis Bank, Parle, and IT stocks are among the top stocks to observe on Friday, December 20, 2024.
Bharti Airtel | The telecommunications company has finalized the prepayment of all its spectrum payments from 2016, amounting to ₹3,626 crore. This prepayment enables Airtel to remove an interest load exceeding 8.65%. Airtel has paid off a total of ₹28,320 crore in spectrum liabilities this year.
Asian Paints | The Board of Directors of the paint giant has sanctioned the appointment of Ashish Rae, who is presently Associate Vice President – Project Sales, as Associate Vice President – Retail Sales, Marketing & Commercial and as a Senior Management Personnel of the Company, effective from January 2, 2025. Additionally, Gagandeep Singh Kalsi, Associate Vice President – Strategy, Business Development, a Senior Management Personnel, will take charge of Décor and Services starting December 23, 2024. Attached are the brief profiles of Ashish Rae and Gagandeep Singh Kalsi.
Axis Bank | The bank will begin to introduce changes to its credit card fees, effective December 20, 2024. Customers have begun to receive alerts about these updates, which consist of a new redemption fee, updated interest rates, and extra transaction fees. These modifications will affect credit cards from both Axis Bank and those migrated from Citi.
Parle Industries | a top FMCG firm, is preparing to implement price increases of no less than 5% on its product range starting in January. This rise will affect a broad array of products, such as bread, biscuits, rusks, cake items, and snacks.
IT stocks (Infosys, TCS, HCL Tech & more) | Accenture announced robust Q1 FY25 performance, with revenue reaching $17.7 billion, marking a 9% year-on-year (YoY) increase in US dollar terms and 8% in local currency, leading to a 5% jump in its shares in premarket trading on Thursday, December 19.
Hyundai Motor India | The board of the automobile firm has sanctioned and advised the reappointment of Unsoo Kim as Managing Director for a duration of three consecutive years starting from January 25, 2025.
Aviation shares | In a significant development for the aviation sector, the upcoming 55th GST Council meeting is anticipated to examine the possible incorporation of aviation turbine fuel (ATF) into the Goods and Services Tax (GST) framework.
Marico | The consumer goods company Marico Ltd stated that it has effectively upheld its stance in a prolonged excise duty conflict after the Supreme Court of India rejected an appeal submitted by the Commissioner of Central Excise (CCE) against the firm and its contractors.
AU Small Finance Bank | RBI has granted approval for the reappointment of Harun Rasid Khan as part-time chairman of the bank for a term of three years starting from December 28.
Kalpataru Projects | According to an exchange filing, the company announced it will contemplate the prepayment of NCDs that were issued through private placement on December 24. Picture: Shutterstock
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