Stocks in news: IndusInd Bank, Avenue Supermarts, RIL, Bajaj Finance, Vedanta, IDFC First Bank
IDFC First BankThe board of IDFC First Bank has approved the merger of IDFC Ltd and IDFC Financial Holding Company with itself through a scheme of amalgamation.Tube InvestmentsTube Investments arm TI Clean Mobility has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business through a subsidiary to be incorporated by TI Clean Mobility.Oil IndiaThe Board of the company has approved the revision of project capital cost front Rs 6,555 crore to Rs 7,231 crore for implementation of petrochemical project of Numaligarh Refinery Ltd.Read more: What changed the market while you were sleepingIndusInd BankIndusInd Bank's promoter IndusInd International Board is planning to raise $1.5 billion in capital to increase the stake in the lender and other strategic objectives.Reliance IndustriesReliance Jio has launched Jio Bharat Phone, which will enable existing 250 million feature phone users with internet enabled phones. The beta trial for the first 1 million Jio Bharat phones begins from July 7.Bajaj FinanceThe company's assets under management (AUM) rose 32% to Rs 2.7 lakh crore as of June 2023 in Q1.
It recorded the highest ever quarterly increase in its AUM of approximately Rs 22,700 crore during the first quarter.VedantaThe Alumina production at Lanjigarh refinery decreased 18% YoY and 4% QoQ. The cast metal aluminium production increased 2% YoY to 579kt due to efficiency in the operations.Genus Power InfrastructureGenus Power Infrastructure has received a letter of award (LOA) of Rs 2,207.53 crore for appointment of advanced metering infrastructure service provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 lakh smart prepaid meters,
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