The market opened strongly, but as the day went on, traders decided to take profits. As a result, the benchmark indices ultimately finished on the day’s high in the closing session. For the majority of the session, the markets were up overall. The Nifty50 increased by 34 points to 17,833 while the BSE Sensex increased by almost 100 points to 59,793.
Ujjivan Small Finance Bank
The bank has issued Rs 75 crore in non-convertible debentures. The NCDs have a redemption date of April 26, 2028, and their coupon rate is 11.95%.
Gujarat Industries Power
The company announced that KEC International had been awarded an EPC contract worth Rs 244 crore with the board of directors’ approval. A 400/33 KV pooling sub-station, 1,200 MW of solar, wind, and hybrid power, as well as a 2,375 MW renewable energy park in Gujarat are all included in the contract.
IRB InvIT Fund
The Vadodara Kim Expressway HAM project in Gujarat will be purchased by IRB InvIT Fund from its sponsors IRB Infrastructure Developers for an enterprise value of Rs. 1,297 crore and an equity value of Rs. 342 crore. By October 2022, the acquisition is anticipated to be finished. Six operational and profit-generating assets will be added to the portfolio of the InvIT after the transaction is finished.
Oil and Natural Gas Corporation (ONGC) announced on Saturday that it has signed six contracts for offshore Discovered Small Fields (DSF), three of which were for fields in the Arabian Sea and Bay of Bengal. Through the DSF-III bid round, the contracts were acquired. According to an ONGC release, these include two contract areas in collaboration with Indian Oil Corporation Limited (IOCL) and four contract areas with solo bidders.
A top corporate official announced on Sunday that the Italian government and a private equity firm located in the UAE had acquired about 44% of the completely owned subsidiary Firema SpA of Titagarh Wagons. According to him, the business underwent a “recapitalization of Euro 20 million through fresh equity infusion,” bringing the total capital to Euro 33 million. According to a company spokesperson, Invitalia, the Italian government’s investment promotion agency, invested Euro 10 million for a 30.30 percent interest, and UAE-based PE firm Hawk Eye DMCC paid Euro 4.5 million for a 13.64 percent stake.
Hindustan Copper Ltd. (HCL), a state-owned company, is thinking of raising its annual production of copper ore to 12.2 million tonnes by FY29. 3.57 million tonnes (MT) of copper ore were produced by the company in FY22. “HCL has plans to increase its mining capacity from its current level ore production to 12.2 million tonnes per annum in phase-I in next 7 to 8 years,” the public sector unit said.
ACC Cement/Ambuja Cement
As part of an overhaul of the top management and board of the two cement manufacturers, Gautam Adani, chairman of the Adani Group and the richest man in Asia, along with his son Karan and nephew Pranav, will join the boards of two of India’s oldest cement businesses, ACC Ltd and Ambuja Cements Ltd. Following Adani Group’s acquisition of Holcim India’s ownership in the two companies, a number of long-serving board members of the two cement manufacturers will resign.
On Saturday, Reliance Petroleum Retail Limited signed legal agreements to pay Rs. 1,522 crore in cash for Shubhalakshmi Polyesters Limited’s polyester business. For Rs 70 crore, the RIL arm will also purchase Shubhlaxmi Polytex Limited’s polyester division. RIL stated in a regulatory statement to the stock exchanges that the total value of the two purchases is Rs 1,592 crore by way of slump sale on a going concern basis.