IT companies: President Donald Trump has signed an order temporarily halting access to several employment-based visas, affecting hundreds of thousands of people seeking to work in the US.
The order freezes new H1-B and H-4 visas, used by technology workers and their families, as well as L visas for intracompany transfers and most J visas for work- and study-abroad programs, through the end of the year. The issuance of new green cards will also remain halted through the end of the year.
Bharti Airtel: Fitch Ratings has revised the outlook on Bharti Airtel’s Long-Term Foreign-Currency (FC) Issuer Default Rating (IDR) to negative from stable, affirming it at ‘BBB-‘.
HDFC AMC: The company in a regulatory filing said that its promoters currently hold 73.97% stake and it is now compliant with Sebi’s shareholding norms.
ICICI Prudential Life Insurance: The government of Singapore on Monday bought shares of ICICI Prudential Life Insurance Ltd worth ₹643.4 crore, according to stock exchange data. The shares were bought from the life insurer’s promoter ICICI Bank Ltd at ₹391.6 apiece.
Axis Bank: The Securities Appellate Tribunal (SAT) has directed Axis Bank and National Stock Exchange to maintain status quo in a matter pertaining to release of certain securities by the private lender, directed by NSE.
GE Power: The company reported over 44% decline in consolidated net profit at ₹14.87 crore for the quarter ended March 2020. GE Power had posted a consolidated net profit of ₹26.85 crore during the quarter ended March 2019, a regulatory filing said.
Info Edge: The company posted over 63% decline in consolidated net profit at ₹119 crore for the quarter ended March 2020. The company had registered a net profit of ₹325.2 crore in the year-ago period, Info Edge (India) Ltd said in a filing to the BSE.
ONGC: State-owned ONGC has temporarily suspended operations at two drilling rigs in the Arabian Sea after 54 employees tested positive for coronavirus and one died but the oil and gas production has not been impacted.
Aditya Birla Fashion and Retail: The board of directors of the company will meet on 25 June to consider and approve fund raising of ₹1,000 crore by way of a Rights Issue of equity shares, according to a regulatory filing.
Earnings: Asian Paints, Berger Paints, Bank of Baroda, Union Bank of India among others will announce their earnings for the quarter ended 31 March 2020.
