The market started off on a strong note but as the day progressed, participants preferred to book some profit, and finally, the benchmark indices closed on the day’s high on in the last session. Overall, the markets remained higher for a major part of the session. The BSE Sensex rose more than 100 points to 59,793, while the Nifty50 rose 34 points to 17,833.
Ujjivan Small Finance Bank
The bank has issued non-convertible debentures of Rs 75 crore. The redemption date for the NCDs is April 26, 2028, and the coupon rate is 11.95 per cent.
Gujarat Industries Power
The company said that its board of directors had approved the award of an EPC contract worth Rs 244 crore to KEC International. The contract is for a 400/33 KV pooling sub-station, 1,200 MW of solar, wind, and hybrid power, and a renewable energy park of 2,375 MW capacity in Gujarat.
IRB InvIT Fund
IRB InvIT Fund is set to acquire the Vadodara Kim Expressway HAM project in Gujarat from its sponsors IRB Infrastructure Developers, at an enterprise value of Rs 1,297 crore and equity value of Rs 342 crore. The acquisition is expected to be completed by October 2022. After the acquisition is completed, the InvIT will have six operational and revenue-generating assets in its portfolio.
ONGC
Oil and Natural Gas Corporation (ONGC) has signed six contracts for Discovered Small Fields (DSF) offshore, with three each for fields in the Arabian Sea and Bay of Bengal, the company said on Saturday. The contracts were obtained under the DSF-III bid round. These include four contract areas as sole bidders and two contract areas in partnership with Indian Oil Corporation Limited (IOCL), said a statement issued by the ONGC.
Titagarh Wagons
The Italian government and a UAE-based private equity firm have together picked up almost 44 per cent stake in Titagarh Wagons’ fully-owned subsidiary Firema SpA, a top company official said on Sunday. The company saw a “recapitalisation of Euro 20 million through fresh equity infusion”, raising the total capital to Euro 33 million, he said. Invitalia, the Italian government’s investment promotion agency, pumped in Euro 10 million for a 30.30 per cent stake, and the UAE-based PE firm – Hawk Eye DMCC – picked up a 13.64 per cent shareholding for Euro 4.5 million, the company official said.
Hindustan Copper
State-owned Hindustan Copper Ltd (HCL) is considering increasing its copper ore production to 12.2 million tonnes per annum by FY29 in its first phase of expansion. The company’s copper ore production was 3.57 million tonnes (MT) in FY22. “HCL has plans to increase its mining capacity from its current level ore production to 12.2 million tonnes per annum in phase-I in next 7 to 8 years,” the public sector unit said.
ACC Cement/Ambuja Cement
Gautam Adani, chairman of Adani Group and Asia’s richest man, his son Karan and nephew Pranav, will join the boards of two of India’s oldest cement companies, ACC Ltd and Ambuja Cements Ltd, in an overhaul of the top management and board of the two cement makers, two people directly familiar with the matter said. Some long-serving board members of the two cement makers will step down following the takeover of Holcim India’s ownership in the two firms by Adani Group.
Reliance Industries
Reliance Petroleum Retail Limited on Saturday executed definitive documents to acquire the polyester business of Shubhalakshmi Polyesters Limited for a cash consideration of Rs 1,522 crore. The RIL arm will also buy the polyester business of Shubhlaxmi Polytex Limited for Rs 70 crore. The aggregate value of the two acquisitions is Rs 1,592 crore by way of slump sale on a going concern basis, RIL said in a regulatory filing to the stock exchanges.
Read all the Latest Business News and Breaking News here
Comments
0 comment