Stocks to Watch: Check out the companies making headlines before the opening bell.
IIFL Finance: The company said the board of directors of its subsidiary IIFL Home Finance approved the allotment of its 53,76,457 equity shares to the subsidiary of Abu Dhabi Investment Authority. After the said transaction, the investor will hold 20 percent shareholding in IIFL Home Finance. The company received Rs 2,200 crore from investor against the said transaction.
NTPC: The power generation company has declared first part capacity of 10 MW out of 20 MW Gandhar Solar PV project at Gandhar, Gujarat, on commercial operation. With this, standalone installed and commercial capacity of NTPC will become 55099 MW, while group installed and commercial capacity of NTPC will become 69464 MW.
RBL Bank: The private sector lender will be in focus as the board of directors has approved the issue of debt securities on private placement basis, up to an amount of Rs 3,000 crore. This is subject to the approval of the members of the bank at the ensuing annual general meeting.
TVS Electronics: The company executed business transfer agreement with GTID Solutions Development Private Limited for acquiring their business and intellectual property rights. With this agreement, TVS enters into mobile POS software solutions and authentication solutions space, offering hardware along with required applications, digital payment solutions, cloud computing software solutions to segments like retail, banks and government. The cost of acquisition is Rs 2.25 crore.
Lemon Tree Hotels: The company has signed a licence agreement for a 65-room hotel at Hubli, Karnataka, under its brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by May, 2023. Its hotel management subsidiary Carnation Hotels will be operating this hotel.
MEP Infrastructure Developers: Promoter AJ Tolls sold 13.15 lakh equity shares in the company through open market transactions at an average price of Rs 16.95 per share. However, Sandeep Kumar Hisaria acquired 15 lakh shares in the company at same price.
Moneycontrol News
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