RIL, Tata Motors, SKF India to be watched

Reliance Industries (RIL) and Jio Platforms announced today that Vista Equity Partners (Vista) will invest Rs 11,367 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Vista's investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.

Tata Motors announced that the company has decided to withdraw the issue for private placement of unsecured NCDs aggregating up to Rs 1000 crore in view of the higher cost expectations from the market participants due to the tight money market conditions. The company continues to have sufficient liquidity and would consider issuance of NCDs at appropriate time and under normalized market conditions with necessary approvals.

SKF India announced that the board of directors of the company has recommended a special dividend of Rs 130 per share for the financial year ended 31 March 2020.

RBL Bank reported 54% slide in net profit to Rs 114 crore on 33% rise in net total income to Rs 1522 crore in Q4 March 2020 over Q4 March 2019. The board of RBL Bank approved to issue debt for an amount not exceeding Rs 3000 crore on private placement basis.

Kokuyo Camlin has resumed partial operations at its manufacturing plant located at Tarapur, Maharashtra with restricted movement of manpower as prescribed, while taking all the necessary steps for ensuring complete sanitization and social distancing norms.

Sterling Tools said that one of its manufacturing unit viz. at Vemagal Industrial Area, Kolar has received the respective State Government's permission/allowed to commence manufacturing operations with limited workforce and in complete compliance of government directives.

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