The board of the bank is scheduled to meet today to finalise its fundraising plans. The bank has indicated that it has so far received offers worth $3 billion from potential investors. Separately, a Bloomberg report said the bank is likely to reject an offer that made up more than half of its planned $2 billion capital raising and is talking to institutional investors about making up for the shortfall.

HDFC : The mortgaged lender, after market hours on Monday, said it proposes to acquire the remaining 9.12% stake in its higher education financing subsidiary HDFC Credila Financial Services Pvt Ltd (HDFC Credila) for up to ₹395 crore. The acquisition of HDFC Credila will take place on a fully diluted basis from Ajay Bohora and Anil Bohora. Currently, HDFC Ltd holds 90.88% of the equity share capital in HDFC Credila.

Bharti Airtel : The steep tariff hikes, effected by the troubled telcos earlier this month after five years of after rock bottom prices, can help more than double their operating profit to ₹60,570 crore in fiscal 2021 from ₹29,450 crore in 2018-19, according to a report by ratings agency Crisil. Telecom operators hiked tariffs after an unfavourable Supreme Court verdict in the adjusted gross revenue case.

Hero MotoCorp : The company, after market hours on Monday, announced that it will increase prices of its motorcycles and scooters from 1 January 2020. In a regulatory filing, the company said prices of its products will be hiked up to ₹2,000 across the portfolio. Last week, India’s largest carmaker Maruti Suzuki Ltd announced it will raise product prices starting 1 January 2020.

RIL : The company’s telecom subsidiary Reliance Jio Infocomm Ltd is likely to benefit from the tariff hike that it announced earlier this month, according to a report by ratings agency Crisil. It is a “structural positive" for the telecom sector, which has been weighed down by weak cash flows, mounting debt levels and shrinking revenues due to bare minimum tariffs in the past five years.

Coffee Day Enterprises : The sale of the company’s technology park to Blackstone Group Inc. is stalled as one of its creditors has not approved the deal, according to a Bloomberg report. Yes Bank Ltd has not issued the so-called no objection certificate as seeks assurances on repayments of other loans taken by the company. All other creditors have approved the transaction.

Bank of India : After State Bank of India, public-sector lender Bank of India on Monday reduced its overnight MCLR by 20 basis points (bps) to 7.75%, effective today. The bank has also slashed its one-month MCLR to 8.10% from 8.20%. One year MCLR was reduced by 10 bps to 8.20%. Banks are reducing rates to pass on the benefits to their customers after the Reserve Bank India last week reiterated its concern over slow transmission of rate cuts.

PC Jeweller : Ratings agency Crisil downgraded the company’s long-term and short-term ratings to bank loan facilities to ‘Crisil D’. The agency said, “the downgrade in the rating factors in the instances of devolvement of letter of credits and overutilisation in working capital limits for more than 30 days. The same is reflective of the fact that the liquidity profile of the group has deteriorated in the past few months on account of cash flow mismatch".

Quess Corp : The board of the company, in a meeting held on Monday, approved cancellation and reduction of 7.13 crore shares held by Thomas Cook (India) Ltd. After cancellation, the board approved allotment of 7.14 crore shares to eligible equity shareholders of Thomas Cook, as per entitlement ratio of the scheme.

Mphasis : The company, after market hours on Monday, clarified that $900 million minimum revenue commitment (MRC) with DXC from September 2016 was not a cumulative calculation and works on the basis of annual thresholds that run for the full tenure of the MRC. The company said DXC continues to remain a strategic partner.