Spicejet Ltd: Shares of Spicejet will be in focus after the firm informed exchanges that it has got three months extension to hold an annual general meeting (AGM). According to a news report, the firm is also likely to get Rs 225 crore under the government’s credit guarantee scheme next week.
Vodafone Idea: The company has prepaid a short-term loan of around Rs 2,700 crore to State Bank of India to shore up lenders’ confidence as it urgently seeks fresh bank funds to tie up equipment supply deals for 5G networks and also clear some of its near Rs 15,000-crore trade payables, comprising dues to tower companies, network gear vendors and other suppliers, ET report said.
HFCL: HFCL’s board on Friday approved raising up to Rs 650 crores which will be invested in enhancing R&D facilities, setting up new production facilities to enhance capacity under the production linked incentive (PLI) scheme and design linked incentive (DLI) scheme.
Suzlon: The State Bank of India (SBI) has disclosed a typographical error in its earlier disclosure which claimed Suzlon promoter had created an additional pledge of 5.53 percent in favour of Adani Green Energy. In its recent disclosure, SBICAP Trustee clarified that the typographical error occurred in the target company’s name and that the additional pledge has been created in favour of SBICAP Trustee and not Adani Green Energy.
ACC: Morgan Stanley Asia has bought 9.4 lakh shares of ACC Ltd for over Rs 215 crore through an open market transaction. According to bulk deal data available with NSE, Morgan Stanley Asia bought shares at an average price of Rs 2,290 a share.
Olectra Greentech: Olectra Greentech, a subsidiary of MEIL, has bagged an order worth Rs151 crore for supplying 100 electric buses to the Assam State Transport Corporation, as announced by the company on Friday. This is the first order for the company from northeastern states, given on an outright basis. The buses will be delivered over a period of nine months, and maintenance will be taken care of for the next five years by Olectra.
Hindustan Zinc: The government is planning to sell a part or all of its remaining 29.5 percent stake in Hindustan Zinc Ltd (HZL) by November, Economic Times reported. The Centre may divest its entire stake if the market condition is right and the valuation good, the report added. In an exchange filing, Hindustan Zinc said it has acquired 26 percent stake in newly-incorporated Serentica Renewables for Rs 350 crore, as part of its endeavour to meet ESG goals. The completion of the deal is subject to requisite regulatory approvals. The companies have entered into a long-term renewable power delivery agreement of up to 200 MW.
GMR Infrastructure: GMR Infrastructure approved raising funds of up to Rs 6,000 crore via foreign currency convertible bonds and/or any other security. Another GMR group company, GMR Power and Urban Infra, on Thursday had approved raising funds of up to Rs 3,000 crore. The funds will be used for various infrastructure projects currently undertaken by the group. Group firm GMR Airports is developing airport cities on commercial land available around its airports in Delhi, Hyderabad, and Goa.
Hinduja Global Solutions Ltd: Shareholders of NxtDdigital Ltd. have voted in favour of the company’s merger with Hinduja Global Solutions Ltd. “99.99 percent non-promoter shareholders voted in favour of the scheme of arrangement between Nxtdigital Ltd. and Hinduja Global Solutions Ltd.,” the digital television services provider said in a statement. According to the regulatory updates, 75.25 lakh votes were polled in which 75.24 lakh were in favour of the scheme and 1,022 against it.
