Check out the companies which will be in focus during trade today based on recent and latest news developments.
UltraTech Cement, Jaiprakash Associates: UltraTech Cement will acquire Jaiprakash Associates' cement factories in six states for an enterprise value of Rs. 16,500 crore, among the biggest distress sales of assets as India's banks get proactive on bad loans.
Vedanta: Anil Agarwal-promoted Vedanta has bagged the prospective-cum-mining licence to mine gold from Baghmara lease in Chhattisgarh, reports a business daily.
Reliance Communications: Reliance Communications is planning to combine its wireless business with Aircel and both parent companies will hold 50% each, according to reports.
Gammon India: Gammon India said three of its lenders including IDBI bank have decided to convert loans worth Rs 22.25 crore into equity.
GAIL, IOL: Officials from key domestic gas buyers, including Gail and Indian Oil Ltd. (IOL), are planning to visit Iran in early March to discuss the proposed undersea gas pipeline between Iran and India, reports a business daily.
IndiGo: India’s largest airline by market share, IndiGo announce that Airbus has confirmed that beginning with March 2016, it will deliver 24 fuel efficient A320neo aircraft by March of 2017 as compared to the original plan to deliver 26 A320neos.
SBI: SBI has received shareholders approval to raise up to Rs. 15,000 crore by public issue or overseas issuance of shares.
Jet Airways: Jet Airways has decided to consolidate its existing position by maximising aircraft utilisation instead of adding more new planes, reports a financial newspaper.
Panyam Cements & Mineral Industries Limited: The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 per cent of the paid up capital of Panyam Cements & Mineral Industries Limited under the Portfolio Investment Scheme (PIS).
United Spirits: United Spirits Ltd (USL) management has said that the loan recovery process from Vijay Mallya-controlled United Breweries Holdings Ltd (UBHL) will continue.
NTPC: NTPC Ltd. is planning to expand its power generation capacity in southern India, NTPC's ED for South India, R Venkateswaran has been quoted as saying.
HUL: Hindustan Unilever announced certain changes in its management structure. Samir Singh, currently Vice-President & ED, Personal Care, will be taking over as the global Executive Vice-President, Skin Cleansing at Unilever.
Indian Hotels: Indian Hotels Company Ltd has announced that Samsara Properties Limited, Company's indirect overseas wholly owned subsidiary, has sold, through market transactions, 1,270,715 (One million two hundred seventy thousand seven hundred fifteen only) Class ‘A’ Common Shares of the face value of US$ 0.01 each of Belmond Limited, representing 1.24% of the total outstanding Class ‘A’ Common Shares for a net consideration of US$ 11.96 million. The sale proceeds are being utilized for retirement of debt.
Vedanta: Anil Agarwal-promoted Vedanta has bagged the prospective-cum-mining licence to mine gold from Baghmara lease in Chhattisgarh, reports a business daily.
Reliance Communications: Reliance Communications is planning to combine its wireless business with Aircel and both parent companies will hold 50% each, according to reports.
Gammon India: Gammon India said three of its lenders including IDBI bank have decided to convert loans worth Rs 22.25 crore into equity.
GAIL, IOL: Officials from key domestic gas buyers, including Gail and Indian Oil Ltd. (IOL), are planning to visit Iran in early March to discuss the proposed undersea gas pipeline between Iran and India, reports a business daily.
IndiGo: India’s largest airline by market share, IndiGo announce that Airbus has confirmed that beginning with March 2016, it will deliver 24 fuel efficient A320neo aircraft by March of 2017 as compared to the original plan to deliver 26 A320neos.
SBI: SBI has received shareholders approval to raise up to Rs. 15,000 crore by public issue or overseas issuance of shares.
Jet Airways: Jet Airways has decided to consolidate its existing position by maximising aircraft utilisation instead of adding more new planes, reports a financial newspaper.
Panyam Cements & Mineral Industries Limited: The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 per cent of the paid up capital of Panyam Cements & Mineral Industries Limited under the Portfolio Investment Scheme (PIS).
United Spirits: United Spirits Ltd (USL) management has said that the loan recovery process from Vijay Mallya-controlled United Breweries Holdings Ltd (UBHL) will continue.
NTPC: NTPC Ltd. is planning to expand its power generation capacity in southern India, NTPC's ED for South India, R Venkateswaran has been quoted as saying.
HUL: Hindustan Unilever announced certain changes in its management structure. Samir Singh, currently Vice-President & ED, Personal Care, will be taking over as the global Executive Vice-President, Skin Cleansing at Unilever.
Indian Hotels: Indian Hotels Company Ltd has announced that Samsara Properties Limited, Company's indirect overseas wholly owned subsidiary, has sold, through market transactions, 1,270,715 (One million two hundred seventy thousand seven hundred fifteen only) Class ‘A’ Common Shares of the face value of US$ 0.01 each of Belmond Limited, representing 1.24% of the total outstanding Class ‘A’ Common Shares for a net consideration of US$ 11.96 million. The sale proceeds are being utilized for retirement of debt.
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