The Nifty futures contract trading on the Singapore Exchange signals a positive start for domestic stocks. The contract traded at 17,644.50, up 53.5 points or 0.30% from the previous close.
ZEEL: The general manager and CEO of Zee Enterprises, Puneet Goenka, on Thursday filed an appeal with the NCLAT appellate body against the decision of the National Company Law Tribunal, which had admitted a plea of IndusInd Bank for insolvency proceedings against the company. The share price fell more than 10% intraday on Thursday before paring losses to 3.46% lower.
Lemon Tree Hotels: The Company approves the acquisition of up to 22,00,000 Mandatory Convertible Preference Shares from Aleur Hotels, APG Strategic Real Estate Pool NV, existing shareholder.
HDFC Bank: The private sector lender announced it would raise $750 million through a sale of dollar-denominated bonds. The bank, trading through GIFT City IFSC Banking Unit, completed the issuance of $750 million Senior Unsecured Bonds. The notes are rated Baa3 by Moody’s Rating Services and BBB- by S&P.
Muthoot Finance: The company’s board may consider and approve fundraising through the issuance of non-convertible bonds (NCDs) on a private placement basis.
Axis Bank: The lender announced plans last year to buy Citibank’s India Consumer Business from Citibank NA and Citicorp Finance’s (India) NBFC Consumer Business. It revealed to the exchanges that they have made progress and obtained all necessary approvals. The bank estimated that closing of the acquisition could be completed by March 1.
Jindal Steel, Jindal Steel (Hisar): The NCLT approved the merger between Jindal Steel and Jindal Steel (Hisar). The company said in its filing with the exchanges that the company has received NCLT’s final order detailing “the composite schedule of settlement under section 66, 230-232 and other applicable provisions of the Companies Act, 2013, under Jindal Stainless, Jindal Stainless (Hisar), JSL Lifestyle, JSL Media, Jindal Stainless Corporate Management Services and Jindal Lifestyle and their respective shareholders and creditors.”
Sanofi India: The company’s board recommended a final dividend of Rs 194 per share share and a second special dividend of Rs 183 per share share. The company also announced a year-over-year increase of 44.8% increase in net profit to Rs 130.8 crore for the quarter ended 31 December 2022.
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TII: Tube Investments of India has acquired 10,753 shares representing 50% of the issued and paid-up share capital of X2Fuels and Energy. The company is a start-up startup that aims to develop and deploy thermochemical technologies for the conversion of waste materials into storable liquid and solid fuels.
Titan: The company’s subsidiary, Favre Leuba AG (FLAG), will seek to wind down operations based on recommendations from Titan’s board of directors. FLAG will sell its “Favre Leuba” brand to a potential buyer. FLAG also stated that it will file for liquidation upon completion of the transaction, subject to any required approvals.
Bharat Forge: Bharat Forge said that in order to bring all of the company’s defense-related investments under one entity, the “investment committee – defense company” has approved the transfer of the company’s interest in Aeron Systems to Kalyani Strategic Systems, a wholly owned subsidiary of the company .
Infosys: Infosys has announced that it will expand its partnership with Microsoft to help accelerate enterprise cloud transformations worldwide.
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