Stocks to Watch: HDFC Bank, Maruti Suzuki, Bajaj Finserv, Vedanta, ICICI Bank
HDFC Bank: HDFC Bank Ltd. is revamping some parts of top management as the Indian bank seeks to propel its mortgage business. It has brought IT and digital functions, led by Ramesh Lakshminarayanan directly under CEO Sashidhar Jagdishan as the bank leans on technology to offer more products and services across its branches.
Ashish Parthasarthy a bank veteran, will get responsibility for the key retail branch business. Maruti Suzuki: Automobile major Maruti Suzuki India on October 3 informed the stock exchanges that it has received a draft assessment order for pending dues amounting to ₹2,160 crore from the Income Tax department. The case pertains to the period of financial year 2019-20.
The company, in response to the order, said it will file its objections before the Dispute Resolution Panel. The order will have “no impact on financial, operation or other activities of the company", it further noted. Bajaj Finserv: Bajaj Allianz gets GST demand notice for ₹1,010 crore on Tuesday.
It received the show cause cum demand notice from the Directorate of GST Intelligence for the non-payment of GST on co-insurance and re-insurance premiums, said Bajaj Finserv in its stock exchange filing on Tuesday. The company is expected to file an appropriate response to the said Show Cause Cum Demand Notice within the prescribed timelines. Vedanta: Billionaire Anil Agarwal’s Vedanta Resources Plc is in advanced talks with JPMorgan Chase and Standard Chartered Bank (StanChart) to secure a $3 billion refinancing facility to stave off a default, people familiar with the development said.
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