As indicated by the SGX Nifty, Indian benchmark indices are likely to start trading with marginal gains. As of 07:00 AM, the SGX Nifty March futures were quoted at 17,225, indicating a gain of 50-odd points on the NSE Nifty 50 benchmark at the opening bell.
company to consider buyback. The state-owned natural gas distribution company on March 31 will consider the proposal for a buyback of fully paid-up equity shares. At their respective meetings,
the boards of directors of PVR Limited and INOX Leisure Limited approved an all-stock amalgamation of INOX with PVR.
Subsidiaries win bids for coal blocks in Odisha and MP. subsidiaries of The Mahanadi Mines and Minerals Pvt Ltd and MP Natural Resources Pvt Ltd were declared as successful bidders for the Bijahan and Gondbahera Ujheni East coal blocks in Odisha and Madhya Pradesh, respectively, by the government of India. Revenue sharing with the government will be 14 per cent for the Bijahan coal block and five percent for the Gondbahera Ujheni East coal block.
The real estate major plans to invest around Rs 2,000 crore to construct two new shopping malls in Gurugram and Goa, as it sees huge growth potential in organized retail with the opening up of the economy after a significant reduction in COVID-19 cases.
The private insurer has joined the race, along with 53 others, including Tata AIG, Nippon Life, and foreign financial companies, to acquire the profit-making insurance arms of Reliance Capital, which was last year put under administration due to defaults and governance issues. Bidding parties can either bid to buy the entire company or any one or more of its eight clusters.
Tata Consumer Products
The FMCG player says it will continue to look at acquisitions to become a large player in the packaged food business. The company recently acquired Kottaram Agro Foods, which houses the brand Soulfull, and Tata SmartFoodz, which has food products in the premium food space.
The private telecom major will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing. The transaction will be executed at a price of Rs 187.88 per share.
Further, the company has prepaid Rs 8,815 crore of spectrum dues to reduce interest expenses. This is the second such prepayment by Airtel in the last three months and comes on the back of strong cash flow generation, equity infusion and borrowing at significantly lower interest rates.
India’s largest private banker plans to raise up to Rs 5,000 crore through additional tier I bonds for capital adequacy and business growth. Care Ratings has given an "AA+" rating to the lender’s Basel III compliant tier-I bonds.
SpiceJet, GMR group
Both companies are partnering with Boeing and French companies, respectively, to explore opportunities for the development and use of sustainable aviation fuel (SAF). The initiatives come against the backdrop of the aviation industry’s call to reduce carbon emissions.
The company has acquired Reckitt’s Dermicool prickly heat talc brand for a consideration of Rs 432 crore. The deal will be funded through internal accruals and is the biggest by Emami after "Kesh King" hair and scalp products (2015) and Zandu Pharma (2008).
The Anil Agarwal-led mining major plans to invest $1.5 billion across its oil and gas, zinc and steel businesses. At its board meeting on Friday, the company approved $687 million in capital spending for the drilling of new wells at the firm’s oil and gas unit, Cairn Oil & Gas, Vedanta said in a stock exchange filing.
Monday is the last day to subscribe to the follow-on public offer. The company is issuing shares in the price band of Rs 615–650, and the issue has so far been subscribed to 37 per cent.
Manappuram finance advertisement
The company’s board, in its meeting on Sunday, approved a proposal to raise up to Rs 7,800 crore by way of the issue of non-convertible debentures on private placement and/or public issue from time to time.
Aster DM Healthcare
The company has signed a non-binding MoU with the government of Tamil Nadu to invest up to Rs 500 crore in the setting up of hospitals, pharmacies, and laboratories in the state.
Stocks in F & O Ban
Indiabulls Housing Finance, L & T Finance Holdings, SAIL, Sun TV and Vodafone Idea are the stocks in the F & O ban period on Monday. new