- The stock of Bajaj Finance has risen as the board of directors considers a fundraising request.
- Tata Tele pulls a Vodafone and approves the conversion of AGR dues interest into equity.
- When LIC expands its stake in Deepak Nitrite to 3.37 percent in the fourth quarter, the firm gains 2.5 percent.
- On improving data, Sunteck Realty’s stock price reaches a 52-week high.
- After receiving a Rs 1,025-crore order, KEC International’s stock has risen somewhat.
The stock of Bajaj Finance has risen as the board of directors considers a fundraising request.
On January 12, Bajaj Financing’s stock jumped 2% intraday to Rs 7,869.90 after the non-banking finance business said that its board of directors will discuss a fundraising plan at its meeting next week.
On January 18, 2022, the Bajaj Finance board of directors will meet to discuss the unaudited financial results for the quarter and nine months ended December 31, 2021. At the meeting, the board will also explore raising funds through a debt issue or the issuance of non-convertible debentures as part of the proposed increase in the overall borrowing limit, which is subject to shareholder approval under Section 180(1)(c) of the Companies Act, 2013.
Tata Tele pulls a Vodafone and approves the conversion of AGR dues interest into equity.
Tata Teleservices (Maharashtra) Ltd, a Tata Group entity, approved the conversion of interest payable on delayed adjusted gross revenue (AGR) dues into equity on January 11, after Vodafone Idea’s decision earlier that day.
Following the conversion, the government is likely to control about 9.5 percent of the company’s total outstanding shares,” TTML stated in a stock exchange filing after the markets closed. The interest’s net present value is projected to be around Rs 850 crore, but the Department of Telecommunications must approve it. All existing shareholders, including the promoters, will be diluted if the interest amount is converted to equity.
When LIC expands its stake in Deepak Nitrite to 3.37 percent in the fourth quarter, the firm gains 2.5 percent
Deepak Nitrite’s stock rose 2.5 percent on January 10 after the Life Insurance Corporation of India (LIC) increased its investment in the firm to 3.37 percent.
The stock, which closed at Rs 2,596.20 on the BSE, up 2.48 percent from the previous session, has been on buyers’ radar since December 20, gaining 19 percent. According to the December 2021 shareholding pattern, LIC increased its interest in Deepak Nitrite to 3.37 percent. It has a 1.68 percent stake at the end of September 2021.
On improving data, Sunteck Realty’s stock price reaches a 52-week high.
Sunteck Realty hit a 52-week high of Rs 552 on the BSE on January 10, jumping more than 7% intraday after reporting improved third-quarter and nine-month results for the period ending December 31, 2021.
Sunteck Realty’s third-quarter pre-sales was Rs 352 crore, up 29% from Rs 272 crore the previous quarter.
Pre-sales for the nine-month FY22 period increased by 23% year on year to Rs 800 crore. In Q3 FY22, it collected Rs 270 crore, up 30% from Rs 207 crore in Q2 FY22, and Rs 649 crore in 9MFY22, up 41% from the previous quarter.
After receiving a Rs 1,025-crore order, KEC International’s stock has risen somewhat.
The stock of KEC International increased by more than 2% in the morning session on January 10 after the company received fresh orders for Rs 1,025 crore.
KEC International has received Rs 1,025 crore in fresh orders across its various sectors, including transmission and distribution (T&D). The company has received orders for T&D projects in India and the Middle East, including a 400 kV transmission line and 400/220 kV substation order from a leading private developer in India through the Tariff Based Competitive Bidding (TBCB) route, and a 380-kV transmission line order from Saudi Electricity Company through the TBCB route (SEC).
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