Stocks In the News: Check out the companies making headlines before the opening bell.
Reliance Industries: Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) and Reliance Industries have agreed to launch ‘TA’ZIZ EDC & PVC’, a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The new joint venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and polyvinyl chloride (PVC) production facility, with an investment of more than $ 2 billion. [Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.]
NHPC: The company has approved the proposal for monetization by securitization through bidding process of return on equity (RoE) of Chamera-I power station (3 X 180 MW), Himachal Pradesh and further to monetize the RoE of one or more power stations for 05/10/15 years in one go or roll over.
Hindustan Zinc: The company approved an interim dividend of Rs 18 per equity share on face value of Rs 2 per share for FY22.
Jindal Steel & Power: November steel production ws up 10% at 6.74 lakh tonne against 6.14 lakh tonne (YoY). November steel sales was down 5% YoY at 5.39 lakh tonne. Exports contributed 15% to total sales volume.
Texmaco Rail & Engineering: The company announced the successful completion of its rights issue of 7,15,26,643 equity shares for an aggregate amount of up to Rs 164.51 crore.
Brightcom Group: The company has entered into a definitive agreement to acquire 100% of Vuchi Media, operating under the brand name of MediaMint.
Shalby: Wholly-owned subsidiary Mars Medical Devices (MMDL) has further subscribed 2,09,000 equity shares of SGD 1 each in MMDL’s subsidiary Shalby Global Technologies, Singapore (SGTPL), and remitted funds for the same. SGTPL is a subsidiary of Mars Medical Devices and a step-down subsidiary of the company. Shareholding of MMDL in SGTPL is now increased from 96% to 97.82%.
Polyplex Corporation: PT Polyplex Films Indonesia, a wholly owned subsidiary of Polyplex (Thailand) Public Company (PTL), Thailand, (51% subsidiary of the company) has commenced operations.of a 10.6 meter BOPP film line with a capacity of 60,000 tonnes per annum.
Integra Garments and Textiles: The company on December 22 will consider sub-division of nominal value of equity shares.
Gulshan Polyols: The company has given its acceptance on ‘Letter of Intent’ for the purpose of signing of Long Term Offtake Agreement with upcoming dedicated ethanol deficit states. The agrrement is for supply of indigenous denatured anhydrous ethanol to oil marketing companies (OMCs) to meet ethanol requirements for 20% blending by year 2025 by setting up plant at Chhindwara, Madhya Pradesh by using corn/maize and rice combination.
California Software: The company has signed a Memorandum of Understanding (MoU) to acquire a majority stake in Pratsware Technologies which owns botbaba, which is WhatsApp Chatbot Platform. This acquisition will make Calsoft a global leadership in the sphere of e commerce and Point of Sale (PoS) solutions.
Orchid Pharma: The company has converted Union Bank rupee term loan to foreign currency. It has executed a binding agreement with bank for conversion of Rs 164 crore loan.
Natural Capsules: India Equity Fund 1 acquired 41,978 equity shares in the company at Rs 243.34 per share, however, Mahendra Labs Pvt Ltd sold 63,904 equity shares in the company at Rs 244.30 per share on the NSE, the bulk deals data showed.
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