In today’s trade, shares of IndiGo, IDFC First Bank, Adani Enterprises, Ashok Leyland, Mahanagar Gas among others will be in focus due to various news developments.
IndiGo
Fair trade regulator CCI on Wednesday dismissed a complaint alleging abuse of market dominance by InterGlobe Aviation and Air India. The complainant alleged that the domestic carriers were maintaining unconscionable and illegal rates of cancellation charges and imposing arbitrary conditions and prices for the sale of services.IDFC First Bank
The Enforcement Directorate conducted searches at 19 locations on Wednesday in connection with alleged embezzlement of Rs 590 crore from the Haryana government’s accounts maintained with IDFC First Bank in Chandigarh, PTI reported. The agency conducted searches in Haryana and Chandigarh against various business entities who helped the accused persons get accommodation entries to conceal the money trail and proceeds of crime.
Ashok Leyland
Hinduja Group commercial vehicle maker Ashok Leyland on Wednesday announced investment of up to Rs 500 crore in a greenfield battery pack manufacturing facility near Chennai. The company held the groundbreaking ceremony for the new battery pack manufacturing facility at Pillaipakkam near Chennai, Ashok Leyland said in a statement.
Adani Enterprises
Adani Enterprises informed the stock exchanges of the execution of the Business Transfer Agreement by Adani Defence Systems and Technologies, a wholly owned subsidiary of the company with Punj Lloyd, regarding transfer of PLL’s Defence Unit situated at Malanpur, Madhya Pradesh to ADSTL.
Bharat Forge
Bharat Forge has made an investment in Bharat Forge Global Holding GmbH, a wholly owned subsidiary by way of contribution to capital reserve amounting to Rs 160 crore.
Infobeans Tech
The Board of Directors have approved the re‐appointment of Siddharth Sethi as Managing Director with effect from
February 21.
Mahanagar Gas
Mahanagar Gas said supply to industrial and commercial customers impacted by gas curtailment. It has initiated necessary steps to align its gas supply in line with prescribed directions. The company said it is presently assessing the impact.