Equity benchmarks are looking to start the new week on a downtrend amid the ongoing banking crisis in the US and Europe. As the SGX Nifty Index (quoted at 17,084) indicated, the Nifty could open around 80 points lower.
Globally, US stock futures edged higher this morning after UBS’s $3 billion takeover of troubled Credit Suisse lender stabilized financial markets. Dow Jones futures, S&P 500 futures, and Nasdaq futures rose 0.6%.
Tata Consumer Products: The company stopped talks with Bisleri about a potential acquisition. It said it had not yet signed a final agreement or binding commitment.
NTPC: The Cabinet Committee on Economic Affairs has allowed NTPC to invest in NTPC Green Energy more than regulations (up to 30% of its net assets).
HDFC: The RBI fined the company Rs 5 lakh for certain regulatory breaches. The company said it would take the necessary steps to comply with the order.
Rail Vikas Nigam: The company has been selected as the lowest bidder for a comprehensive package of four contracts related to the new broad gauge railway for the Haryana Orbital Rail Corporation project, worth Rs 1,088.49 crore.
GMR Airports: Aéroports de Paris and GMR Airports Infrastructure Ltd have agreed to merge their joint venture into GMR, giving ADP a liquid stake in a business that owns airports in India. The company will also raise Rs 2,900 crore through foreign currency convertible bonds.
Navin Fluorine International: The company’s wholly-owned subsidiary, Navin Fluorine Advanced Sciences, will build a new 40,000 tonne/year hydrofluoric acid capacity in Dahej at Rs 450 crore.
Havells India: Commercial production of air conditioners has started at the company’s Sri City plant in the Chittoor district of Andhra Pradesh.
Garware Technical Fibres: The company has agreed with TP Bhaskar Renewables to acquire and/or subscribe for a 26% stake in TP Bhaskar Renewables for Rs 4.5 crore.
Adani Transmission: The company registered and established a wholly-owned subsidiary, Adani Electricity Nashik, and applied for a parallel power distribution license in Nashik.
SKF India: The company acquired a 26% stake in Cleanmax Taiyo by acquiring 2,600 shares with a face value of Rs 10 each. The acquisition will reduce energy costs and greenhouse gas emissions and gain access to renewable energy.
Torrent Pharmaceuticals: The USFDA issued an observation with Form 483 following a pre-approval inspection of the company’s oral oncology manufacturing facility in Bileshwarpura, Gujarat, between March 13 and March 17.
Deep Industries: The Board of Directors has approved a 2-share split for every 1 equity share.
SJVN: The company won a 200 MW solar project order from Maharashtra Power Distribution Corporation. The project cost is Rs 100 crore.
Sumitomo Chemicals: The Gujarat Pollution Control Board has revoked the shutdown order at the Bhavnagar plant. As a result, the plant is now allowed to resume operations.
Godavari Power and Ispat: The board approved a share buyback of Rs 250 crore through a tender offer. This will result in the buyback of 5 million shares (3.66% stake) at Rs 500 each.
Cochin Shipyard: The company has secured a zero-emission feeder container vessel order worth Rs 550 crore from Samskip Group.
Morepen Lab: The company has registered and established a wholly-owned subsidiary, “Morepen Rx Ltd”.
Kenvi Jewels: The board of directors has approved the split of 1 equity share of Rs 10 face value in the company into 10 equity shares of Rs 1 each and the issuance of bonus shares in the ratio of 1 equity share for every 4 equity shares.
Jindal Poly Films: The company has successfully launched a capacity expansion project for its global nonwovens division at its Nashik facility, from 36,000 tons to 58,000 tons.
