Indian benchmark indices are likely to start trade with marginal gains as indicated by the SGX Nifty. As of 07:00 AM, the SGX Nifty March futures quoted at 17,225, indicating a gain of 50-odd points on the NSE Nifty 50 benchmark at the opening bell.
GAIL (India)
Company to consider buyback. The state-owned natural gas distribution company on March 31 will consider the proposal of buyback of fully paid-up equity shares.
PVR and INOX
Top multiplex players on March 27 announced merger after the Board of Directors of PVR Limited and INOX Leisure Limited at their respective meetings, approved an all-stock amalgamation of INOX with PVR.
Adani Enterprises
Subsidiaries win bids for coal blocks in Odisha and MP. Subsidiaries Mahanadi Mines and Minerals Pvt Ltd and MP Natural Resources Pvt Ltd are declared as successful bidders for Bijahan and Gondbahera Ujheni East coal blocks in Odisha and Madhya Pradesh respectively, by the government of India. Revenue sharing with the government will be 14 per cent for Bijahan coal block and five percent for Gondbahera Ujheni East coal block.
DLF
The realty major plans to invest around Rs 2,000 crore to construct two new shopping malls in Gurugram and Goa, as it sees huge growth potential in organised retail with opening up of the economy after significant reduction in COVID-19 cases.
ICICI Lombard
The private insurer has joined the race along 53 others including Tata AIG, Nippon Life and foreign financial companies for acquiring the profit-making insurance arms of Reliance Capital, which was last year put under administration due to defaults and governance issues. Bidding parties can either bid to buy the entire company or any one or more of its eight clusters.
Tata Consumer Products
The FMCG player says will continue to look at acquisitions to become a large player in the packaged foods business. The company recently acquired Kottaram Agro Foods, which houses the brand Soulfull, and Tata SmartFoodz, which have food products in the premium food space.
Bharti Airtel
The private telecom major will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing. The transaction will be executed at a price of Rs 187.88 per share.
Further, the company has prepaid Rs 8,815 crore of spectrum dues to reduce interest expenses. This is the second such prepayment by Airtel in the last three months and comes on the back of strong cash flow generation, equity infusion and borrowing at significantly lower interest rates.
HDFC Bank
India’s one of largest private banker plans to raise up to Rs 5,000 crore through additional tier I bonds for capital adequacy and business growth. Care Ratings has given “AA+” rating to the lender’s Basel III compliant tier- I bonds.
SpiceJet, GMR group
Both the companies are partnering with Boeing and French companies respectively to explore opportunities for development and use of sustainable aviation fuel (SAF). The initiatives are in the backdrop of aviation industry’s call to reduce carbon emissions.
Emami
The company has Reckitt’s Dermicool prickly heat talc brand for a consideration of Rs 432 crore. The deal will be funded through internal accruals, and is the biggest by Emami after ‘Kesh King’ hair and scalp products (2015), and Zandu Pharma (2008).
Vedanta
The Anil Agarwal led mining major plans to invest $1.5 billion across its oil and gas, zinc and steel businesses. In its board meeting on Friday the company approved $687 million capital spending for drilling of new wells at the firm’s oil and gas unit, Cairn Oil & Gas, Vedanta said in a stock exchange filing.
Ruchi Soya
Monday is the last day to subscribe for the follow-on public offer. The company is issuing shares in the price band of Rs 615-650, and the issue was so far subscribed 37 per cent.
Manappuram Finance
The company’s board in its meeting on Sunday approved a proposal to raise up to Rs 7,800 crore by way of issue of non-convertible debentures on private placement and/ or public issue from time to time.
Aster DM Healthcare
The company has signed a non-binding MoU with government of Tamil Nadu to invest up to Rs 500 crore for setting-up of hospitals, pharmacies and laboratories in the state.
Stocks in F&O Ban
Indiabulls Housing Finance, L&T Finance Holdings, SAIL, Sun TV and Vodafone Idea are the stocks in the F&O ban period on Monday.
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