News Steel

Morning Radar: HDFC to Raise Upto Rs 10,000 Cr; JSW Steel Evades Tax & More

By Malvika Gurung — Bharti Airtel (NS:): The credit rating agency Fitch Ratings has confirmed the telco’s long-term foreign currency Issuer Default Rating (IDR), along with the senior unsecured rating as ‘BBB-’. It has affirmed the IDR outlook to be negative.

TCS (NS:): The Indian software giant has entered into a strategic partnership with the global mining and metals company South32, to enhance its IT operating model and provide application and infrastructure services critical to its global operations, strengthening its operational resilience and business agility, as per a report.

HDFC (NS:): The largest mortgage lender in the country will raise upto Rs 10,000 crore to grow its long-term capital, by issuing bonds on a private placement basis. 

JSW Steel (NS:): The iron and steel mills company is found to have evaded taxes worth Rs 265 crore by the Mumbai GST zone. Additionally, the company’s wholly-owned subsidiary, Piombino Steel has repaid its entire loan availed for acquiring Bhushan Power and Steel.

Adani Enterprises (NS:): Adani (NS:) Airport Holdings is preparing to take funds worth Rs 15,000 crore from SBI (NS:) to start the construction work of the second airport in the Mumbai region, in Navi Mumbai.

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