Stocks in News - 16th Sept 2021 1) Telecom Stocks: The Indian | Groww

Stocks in News - 16th Sept 2021

1) Telecom Stocks: The Indian Government has announced a relief package for the telecom sector which includes 4-year moratorium period and rationalisation of AGR definition by excluding non-telecom revenue.

2) Auto stocks: The Union Cabinet cleared a Rs 25,938 crore performance-linked incentive scheme for the automobile sector.

Combined with the package announced for the drone industry, the new PLI scheme has a budgetary outlay of Rs 26,058 crore.

3) Hindustan Copper: The Indian government plans to sell 10% of Hindustan Copper’s equity through an Offer for Sale (OFS).

4) Coal India: Coal India is planning to offer 15 mines to developers to raise output by a combined 160 million tonnes per year, Chairman Pramod Agrawal said.

5) Tata Group stocks: Tata Sons has submitted a financial bid for Air India. SpiceJet’s owner Ajay Singh has also bid for Air India in his personal capacity, according to a media report.

6) Dr Reddy’s Laboratories: The company has received the approval to conduct Phase 3 trials of Sputnik Light vaccine in India.

7) Tech Mahindra: The company has signed a Master Service Agreement with Response Informatics, which will become an official vendor to provide quality manpower resources for various projects that are run by Tech Mahindra.

8) Power Finance Corporation: UBS Group AG, a Swiss multinational investment bank and financial services company, has increased its stake in Power Finance Corporation to 5.67% from 3.4%.
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