PRE-MARKET INDIA STOCK NEWS: United Spirits (UNSP IS) fined INR 2.5bln by CSD for violating pricing agreement

Infosys (INFO IS)
- Co. said to pay shareholders as much as USD 2bln through dividends and share repurchase, co. board to consider a repurchase proposal on August 19th. (ET)

Larsen & Toubro (LT IS)
- Co. to liquidate its entire stake in L&C Cutting Tools for INR 1.74bln, according to media report. (ET)

Reliance Industries (RIL IS)
- Co. unit Jio Infocomm added 4.3mln active subscribers in June. (ET)

Tata Group
- Co. to end all business dealings with Cyrus and Shapoor Mistry’s SP Group, putting billions worth of transactions at risk. (ET)

Tata Power (TPWR IS)
- Co. became the 1st power utility provider to introduce QR code based bill payments system in India. (ET)

United Spirits (UNSP IS)
- Co. fined INR 2.5bln by CSD for violating pricing agreement. (ET)

Other News
- RBI minutes showed governor Patel pushed for 25bps rate cut, which was made by 4-2 vote with 1 MPC member voting for a 50bps cut and 1 voting for no change in rates. The minutes also stated that members warned inflation could accelerate later this year and noted that focus should be on ensuring banks pass on the cut to customers. (ET)  

17 Aug 2017 - 04:18- Research Sheet- Source: Newswires

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