Moneycontrol Selects: Top stories this afternoon

A round-up of the big stories

Here are the top stories this afternoon:

SBI loans to get costlier as bank hikes MCLR rates by 10 bps across tenure

State Bank of India  has hiked its marginal cost lending rate (MCLR) by 10 basis points across tenures with effect from February 15. According to their website, overnight MCLR increased to 7.95 percent from 7.85 percent, and one-month and three-month MCLR rose to 8.10 percent from 8.00 percent. Read details here.

MFs lapped up these 2 Adani stocks amid Hindenburg rout

Domestic mutual funds were making their moves as Adani group stocks were being hammered following a report by American short-seller Hindenburg Research accused the ports-to-power conglomerate of stock manipulation and also flagged debt concerns. Read more here.

Adani-Hindenburg row: SC agrees to hear fresh PIL of Congress leader on February 17

The Supreme Court today agreed to hear a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani Group of companies on February 17 in light of the allegations made by the US-based Hindenburg Research. More here.

Vodafone Idea board clears appointment of Murthy GVAS as interim CFO

The Vodafone Idea board has approved the appointment of Murthy GVAS, currently designated as the executive vice-president, financial controller and head of taxation, as its interim chief financial officer, effective February 15. Details here.

Sterling Tools gains 6% on over 63% surge in Q3 net, EV promise

Auto-component maker Sterling Tools traded up nearly 6 percent to Rs 353 on February 15 as the sentiment around the stock has appreciated drastically after its third quarter results. Check details here.

Anil Agarwal’s Vedanta cuts debt by $2 billion amid funding woes
Billionaire Anil Agarwal’s commodities giant has slashed net debt by $2 billion in the current financial year as it seeks to soothe investor concern over its liquidity and ability to repay upcoming obligations.

Vedanta Resources Ltd. has achieved half of its three-year planned reduction commitment of $4 billion in the first year, the London-based company said in an exchange filing. It will continue to deleverage from net debt of $7.7 billion in the next two financial years, it said. Read more