Nifty futures on the Singapore Exchange were trading 41 points, or 0.22 per cent, higher at 18,865.5, indicating that Dalal Street was headed for a positive start to Monday.
Maruti Suzuki India: The country’s largest carmaker will ‘significantly’ increase prices of its vehicles from next month as it makes provisions to offset the impact of rising costs and update the model range in line with stricter emission norms. April 2023.
NTPC: State-owned power company is likely to find a strategic investor for its arm NTPC Green Energy by March 2023, which will help raise up to Rs 3,000 crore to implement renewable projects in the country.
Bank of India: The public sector lender has raised Rs 1,500 crore by allotting Basel-III compliant Additional Tier-I bonds to seven investors. The bond issue, which opened on December 5, received a good response from investors, receiving bids of Rs 6,367 crore against the offer size of Rs 1,500 crore.
SJVN: State-owned SJVN Ltd on Saturday said its arm SJVN Green Energy has bagged a 200 MW solar project from the Maharashtra State Electricity Distribution Company Ltd. 455.52 million units (MU) in the first year and the cumulative energy generation over a period of 25 years would be around 10,480.82 MU,” the BSE filing said. The commissioning of the project is expected to reduce carbon emissions by 5,13,560 tonnes.
SpiceJet: The air carrier, which is looking to raise USD 200 million, is expected to see operational improvements and restructuring benefits in the current quarter of this financial year. SpiceJet chief Ajay Singh has told shareholders that it has completed a series of agreements with most major partners, including manufacturers and lessors. The airline has received shareholders’ approval for transfer of its logistics business to SpiceXpress and the process of separation of cargo and logistics platforms is expected to be completed soon.
Godrej Properties: The company has been aggressively acquiring land for future development and has added eight new projects in this financial year so far with an estimated revenue potential of Rs 16,500 crore. With financial year 2022-23 still four months away, Godrej Properties Executive Chairman Pirojsha Godrej expects the company to add many more land parcels to its portfolio by March. “We have added projects worth Rs 16,500 crore so far this fiscal and have already exceeded our full year guidance of Rs 15,000 crore. Given the strong visibility ahead, we will end the 2022-23 financial year much ahead of target,” said Pirojsha Godrej.
Inox Green Energy Services: The wind power operation and maintenance service provider posted a net loss of Rs 11.87 crore on a consolidated basis for the quarter ended September 23, the financial year. The loss widened from Rs 11.58 crore in the previous quarter. Revenue from operations increased marginally to Rs 61.9 crore from Rs 61.79 crore during the same period.
NDTV: Gautam Adani’s group has found investors willing to sell over 53 lakh shares of NDTV despite a steep discount to the stock’s current trading price, giving it the right to nominate the broadcaster’s chairman. The open offer will close on December 5, as notified by the stock exchanges. The shares tendered so far are equivalent to 8.26% of NDTV. Along with the 29.18% stake that the Adani group has already acquired, the port-to-energy conglomerate will hold a 37.44% stake in the media company, bigger than the 32.26% stake held by founders Prannoy Roy and Radhika Roy.
Mahindra & Mahindra Financial Services: The company said the business continued its momentum in November with disbursements of nearly Rs 4,500 crore, delivering 75% on-year growth on a positive macro environment. Year-on-year disbursements grew by 99% year-on-year at Rs 31,050 crore. The collection efficiency stood at 96% for November 2022, as against 94% in the year-ago period. The company expects further improvements in Phase II and Phase III assets in December.
Ion Exchange (India): The company has bagged a contract worth Rs 343.36 crore from Indian Oil Corporation (IOC). The work includes Designing, Engineering, Fabrication, Supply, Erection, Testing, Pre-commissioning, Commissioning, Performance Guarantee Test Run and Five Years Operation and Maintenance of Zero Liquid Discharge Plant at IOC’s Panipat Refinery. The project is to be commissioned within 16 months from the date of sanction letter.
Hindustan Aeronautics (HAL): The state-run defense company has received an income tax refund order for the year 2011-12 from the office of the Deputy Commissioner of Income Tax. The order allows R&D expenditure of Rs 595.23 crore as capital expenditure, resulting in a refund of Rs 427.45 crore. The refund includes interest of Rs 176.93 crore.
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