STOCKS IN ACTION 4 AUGUST
Vedanta: S&P Global Ratings revised the rating outlook on Vedanta Resources to negative from stable to reflect the heightened refinancing risk due to its large debt maturities up until March 2025. Moreover, its promoter entity, Twin Star Holdings, sold 15.4 crore shares (4.1%) at Rs 258.55 apiece in a bulk deal.
Mining companies: The parliament passed the Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2023, to provide a fixed 50-year production lease for offshore minerals. Under this legislation, the government aims to introduce auctions as the route to awarding production leases for offshore minerals.
Maruti Suzuki: The board will meet on Aug. 8 to consider the mode of payment for Suzuki Motor Corporation's stake in the Suzuki Motor Gujarat plant by way of either cash or preferential issuance of equity shares.
Paytm: The company's average monthly users rose by 19% YoY to 9.3 crore. Payment volumes for merchants, or Gross Merchandise values, rose 39% on-year to Rs 1.47 lakh crore.
KEC International: The company has secured new orders of Rs 1,065 crore across its various businesses, including energy transmission and distribution and cables. The year-to-date order intake stands at Rs 4,500 crore, a growth of 30% y-o-y.
NBCC: The company won a contract worth Rs 301 crore to construct a hostel-cum-residential block at the University of Delhi.
Torrent Power: The company, through its subsidiary, will supply 132 MW of solar power to Shapoorji Pallonji for its desalination plants in Gujarat. The project cost is Rs 700 crore.
Go First Insolvency: The resolution professional approached the Supreme Court against the Delhi High Court order. The high court had rejected Go First's appeal against aircraft inspection by lessors.
JM Financial: The board approved the appointment of Nishit Shah as the Chief Financial Officer in place of Manish Sheth, effective Oct. 1.
Radico Khaitan: The company re-appointed Sushmita Singha, Tushar Jam, and Sharad Jaipura as Independent Directors for a second term of five years.
Hatsun Agro Product: The company inaugurated its chocolate manufacturing unit in Telengana. The unit has a capacity to manufacture 7,000 kg of chocolate per day.
Prime Industries: Non-Executive and Non-Independent Director Parveen Singhania to resign with effect from August 11.
SJVN: The company inked an MoU with Sikkim Urja for the trade of 180 MW of hydropower from SUL’s 1200 MW Teesta-III hydroelectric project in Sikkim to distribution licensees and open access consumers.
LIC Housing Finance: The board appointed Tribhuwan Adhikari as Additional Director in the capacity of managing director and chief executive officer.
TorrentPower enters into power transfer agreement with Shapoorji Pallonji for supply of 132 MW solar power with an investment ₹700 cr
@DAYTRADERTELUGU
Vedanta: S&P Global Ratings revised the rating outlook on Vedanta Resources to negative from stable to reflect the heightened refinancing risk due to its large debt maturities up until March 2025. Moreover, its promoter entity, Twin Star Holdings, sold 15.4 crore shares (4.1%) at Rs 258.55 apiece in a bulk deal.
Mining companies: The parliament passed the Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2023, to provide a fixed 50-year production lease for offshore minerals. Under this legislation, the government aims to introduce auctions as the route to awarding production leases for offshore minerals.
Maruti Suzuki: The board will meet on Aug. 8 to consider the mode of payment for Suzuki Motor Corporation's stake in the Suzuki Motor Gujarat plant by way of either cash or preferential issuance of equity shares.
Paytm: The company's average monthly users rose by 19% YoY to 9.3 crore. Payment volumes for merchants, or Gross Merchandise values, rose 39% on-year to Rs 1.47 lakh crore.
KEC International: The company has secured new orders of Rs 1,065 crore across its various businesses, including energy transmission and distribution and cables. The year-to-date order intake stands at Rs 4,500 crore, a growth of 30% y-o-y.
NBCC: The company won a contract worth Rs 301 crore to construct a hostel-cum-residential block at the University of Delhi.
Torrent Power: The company, through its subsidiary, will supply 132 MW of solar power to Shapoorji Pallonji for its desalination plants in Gujarat. The project cost is Rs 700 crore.
Go First Insolvency: The resolution professional approached the Supreme Court against the Delhi High Court order. The high court had rejected Go First's appeal against aircraft inspection by lessors.
JM Financial: The board approved the appointment of Nishit Shah as the Chief Financial Officer in place of Manish Sheth, effective Oct. 1.
Radico Khaitan: The company re-appointed Sushmita Singha, Tushar Jam, and Sharad Jaipura as Independent Directors for a second term of five years.
Hatsun Agro Product: The company inaugurated its chocolate manufacturing unit in Telengana. The unit has a capacity to manufacture 7,000 kg of chocolate per day.
Prime Industries: Non-Executive and Non-Independent Director Parveen Singhania to resign with effect from August 11.
SJVN: The company inked an MoU with Sikkim Urja for the trade of 180 MW of hydropower from SUL’s 1200 MW Teesta-III hydroelectric project in Sikkim to distribution licensees and open access consumers.
LIC Housing Finance: The board appointed Tribhuwan Adhikari as Additional Director in the capacity of managing director and chief executive officer.
TorrentPower enters into power transfer agreement with Shapoorji Pallonji for supply of 132 MW solar power with an investment ₹700 cr
@DAYTRADERTELUGU
