The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 17,686, up 54 points or 0.31% from the previous close.
LIC
The top management of LIC has held a meeting with the Adani Group and the insurer is more confident about the conglomerate’s business prospects, according to reports.
Dish TV
Shareholders of Dish TV India rejected appointments of four candidates as non-executive independent directors on the company board, reducing the strength to just directors.
Bajaj Electrical
Bagged the award for plant and installation services of distribution infrastructure of electric supply circle across districts in Bihar. The aggregate sum of the contract is Rs 645 crore and the project shall take 30 months to complete.
HDFC Bank
Re-appointed Sashidhar Jagdishan as the Managing Director and CEO for a further period of three years. Jagdishan joined HDFC Bank in 1996 and was appointed as chief financial officer in 2008, before being elevated to the position of MD and CEO in 2020.
CAMS
Announced its acquisition of a 55.42% stake in Think Analytics, a data sciences and artificial intelligence company, through a secondary acquisition for an undisclosed amount. “With AI, Analytics and data led technologies becoming mainstream to solve problems, transform and grow businesses, CAMS found investing into Think Analytics as a good opportunity that will assist CAMS in building overall market reach and drive innovation,” CAMS said, in a regulatory filing with the exchanges.
Samvardhana Motherson
Increased its investment in subsidiary Motherson Technology Services from 62.9% to 90.4%. The acquisition of additional equity shares is by way of subscription to the right issue of MTSL, at the price which is applicable for all existing shareholders.
Ashoka Buildon, Mahanagar Gas
Ashoka Buildcon and a Morgan Stanley infrastructure fund entered into a share purchase agreement with Mahanagar Gas for sale of its subsidiary, Unison Enviro for Rs 531 crore. Unison Enviro Private Limited is a subsidiary of Ashoka Buildcon and has been granted authorization from Petroleum and Natural Gas Regulatory Board to develop City Gas Distribution business in districts of Ratnagiri, Latur, Osmanabad and Chitradurga & Davanagere. It is engaged in supplying natural gas to the domestic, commercial, industrial and transport sector.
Adani Ports and SEZ, Adani Total Gas
ICRA has revised the outlook for two Adani Group companies – Adani Ports and Special Economic Zone and Adani Total Gas – to ‘negative’ from ‘stable’, on account of the deterioration in the group’s financial flexibility.
Tech Mahindra
Tech Mahindra said it will invest up to Rs 700 crore in the newly carved out division of products and platforms in the next two years.
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