The Nifty futures contract traded on the Singapore Exchange indicated a negative opening for domestic equities. The contract was trading at 17,878, down 68 points or 0.38% from its previous close.
Adani Transmission: Adani Transmission will announce debt refinancing plans in a few weeks, executives said in an investor call on Tuesday, according to a source with direct knowledge of the matter. Adani Group, a unit of crisis-hit Indian conglomerate Adani Group, has no plans to raise additional debt for capital expenditure, which it plans to cover with operating cash flows, according to sources. The Adani group hired banks to arrange calls with bond investors after it was caught in a short-selling storm in recent weeks.
HDFC Bank: HDFC Bank plans to sell dollar bonds to join other banks in tapping opportunities in overseas markets to support its plans to lend outside India, according to two people familiar with the matter. The country’s largest private bank hopes to raise $500 million by selling five-year bonds, the people said, requesting anonymity. HDFC Bank has hired Citigroup, HSBC, JP Morgan, Mitsubishi UFJ Financial Group, Societe Generale and Standard Chartered for the proposed Reg S transaction, which prevents securities from being sold to persons in the US.
Zee Entertainment: The All India The Digital Cable Federation (AIDCF) has warned advertisers against running advertisements on channels owned by Star, Zee and Sony networks after the three broadcasters switched signals to various independent MSOs (Multiple System Operators) as most of them Refused to sign new agreements. NTO 3.0 could have led to a price hike for consumers as part of the pricing revisions. Over 46 billion minutes of viewing time is being lost daily across the country on cable networks including GTPL, DEN, Hathway, Fastway, In Cable, NXT Digital, Asianet, KCCL, UCN and many more.
One97 Communications: Digital financial services firm One97 Communications, which operates under the Paytm brand, has sought shareholders’ approval for a transaction aggregating ₹3,250 crore with Paytm Payments Bank Ltd. The transaction involves acquiring services up to ₹1,550 crore from Paytm Payments Bank and providing services up to ₹1,700 crore to the bank. Postal Ballot Notice of Paytm Seeking Shareholders’ Approval for “Approval of Material Related Party Transaction with Paytm Payments Bank Limited”.
New India Assurance: State-run general insurers Oriental Insurance, National Insurance, New India Assurance and United India Insurance are fully digitizing their motor insurance policies to prevent market share grab to private sector rivals. According to people aware of the development, these general insurers, which are part of the General Insurance Public Sector Association (GIPSA), have empaneled digital service providers (DSPs) as their agents to process and manage motor insurance policies. 50,000 with claims up to Rs.
IRB Infrastructure Developers: IRB Infrastructure Developers Ltd has been selected as the preferred bidder for a ₹2,132-crore build-operate-transfer or BOT project in Gujarat, the company said in an exchange filing on Tuesday. The project involves six-laning of 90.9 km section between Samakhiali and Santalpur with a concession period of 20 years from the due date. The company said its order book will be revised to approximately Rs 20,892 crore, of which the construction order book will account for Rs 9,714 crore, offering significant visibility to the next two and a half years.
Advik Capital: Advik Capital Limited announced that it is in the early stages of financing the Gohana Sonepat Highway, another major infrastructure project supported by NHAI, Government of India and other organizations in partnership with other NBFCs, private banks and PSUs . Bank, to further expand its long-term asset-book. By funding mega infra projects, Advik Capital said it is not only entering an area of huge business opportunity going forward, diversifying its business, mitigating concentration risk but also achieving long term viable revenue visibility making sure.
Hindustan Zinc: Hindustan Zinc said that it will hold a meeting of the equity shareholders of the company on March 29 as per the order of NCLT in the matter of the proposed scheme of arrangement between the company and its shareholders.
SBI: SBI has successfully raised Rs 4,544 crore of non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up Basel III compliant AT-1 bonds at a coupon of 8.20% per annum.
IRCTC: Shares, Tourism and Ticketing Branch of IRCTC Indian Rail Will trade ex-dividend today in connection with the Rs 3.5 dividend announced along with third quarter results.
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