Stocks to Watch: Adani Enterprises, Dish TV, Nestle India, ONGC, Olectra
By siliconindia | Tuesday, 20 September 2022, 09:13:49 AM IST
Adani Enterprises: Adani Group's flagship company Adani Enterprises on Monday raised Rs 100 crore by allotment of non-convertible debentures on a private placement basis. Adani Enterprises shares witnessed positive sentiment today and the shares climbed by nearly 3%. The said MLD will be listed on the Wholesale Debt Market segment of BSE. The debentures have a face value of Rs10 lakh each. The company allotted 1,000 Rated, Listed, Secured, Redeemable, Principal Protected Market Linked Non-Convertible Debentures (“MLD"). The debentures have a face value of Rs10 lakh each.
Dish TV: Yes Bank Ltd has upped the ante in its more than a year-long fight against Subhash Chandra-owned Dish TV India Ltd as the bank has approached the Bombay High Court to direct the satellite TV provider to conduct a special shareholder meeting. On Monday, a division bench of the high court admitted the petition filed by Yes Bank, which is the largest shareholder in Dish TV, owning 24.78%. The court will hear the petition on Tuesday on whether Dish TV should conduct an extraordinary general meeting (EGM).
Nestle India: Nestle India Ltd, the local unit of the world’s largest food company, and other strategic and financial investors are in talks to buy a significant stake in nutritional snacks startup Yoga Bar, at least three people aware of the deal said. Nestle India has done due diligence, and further talks are on, one of the three said, requesting anonymity.
ONGC: The oil ministry has sought a review of the two-and-a-half-month old windfall profit tax on domestically produced crude oil saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil. The ministry, according to the letter, was of the opinion that the contracts have an in-built mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for the government
Olectra Greentech: Olectra Greentech Limited and Evey Trans Private limited (EVEY) consortium has received a Letter of Award from Thane Municipal Transport Undertaking for the supply of 123 electric buses, Olectra said on Monday. These buses will be supplied on a Gross Cost Contract (GCC) / OPEX model basis for a period of 15 years. The order value is Rs185 crore, Olectra said in a statement.
Reliance Industries: Fair-trade regulator Competition Commission of India (CCI) on Monday approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In April, Reliance Industries Ltd (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India.
Ircon International: has received a work order worth Rs256 crore for Ananta OCP of Jagannath Area at Talcher, from Mahanadi Coalfields, according to reports. The work order is for detailed engineering and project management consultancy services for the development of rail infrastructure.
Natco Pharma: Natco Pharma on Monday said it has received a court order allowing it to launch the insecticide Chlorantraniliprole (CTPR) and its formulations. The company has received an order from the Delhi High Court to launch the insecticide through a non-infringing process, the Hyderabad-based company said in a regulatory filing. US-based FMC Corporation had filed a patent infringement case against Natco Pharma in Delhi High Court.
Future Supply Chains: Future Supply Chains Ltd (FSCL) on Monday said it has dropped plans to sell assets of the company on account of the expected delay in obtaining other requisite approvals. Its board has passed a resolution "rescinding the proposal to proceed with sale/disposal of the Business Undertaking" in view of “expected delay in obtaining other requisite approvals", FSCL said in a regulatory filing.
Ashok Leyland: Ashok Leyland Ltd expects hydrogen-powered truck and buses to emerge as a self-sufficient green solution with commercial viability beginning in the next five years, at a time commercial vehicle makers prepare to invest in electric vehicles and natural gas and flexible fuel platforms. Hydrogen-powered long-haul trucks could make the total cost of ownership (TCO) lower than compressed natural gas (CNG) variants at the right level of adoption and cost, N. Saravanan, chief technology officer of the Hinduja Group company, said in an interview.
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