Stocks to Watch: Check out the companies making headlines before the opening bell.
Reliance Industries: Reliance Industries said its subsidiary Reliance Petroleum Retail will acquire polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex for Rs 1,592 crore. The acquisitions, which will be done by way of slump sale on going concern basis, are subject to approval of the Competition Commission of India. [Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.]
Oil and Natural Gas Corporation: The state-owned oil and gas company has signed six contracts for Discovered Small Fields (DSF) in the offshore under DSF-III bid round, with three each for fields in the Arabian Sea and Bay of Bengal. It also signed two contracts for fields under special CBM Bid round-2021 blocks in Jharkhand and Madhya Pradesh. For the two CBM blocks, the total investment commitment is to the tune of $ 5.94 million, while $ 1894.5 million of investment is planned towards development in the six DSF-III blocks.
Tata Steel: The company informed exchanges that the meeting of the Board of Directors is scheduled on September 14 to consider the issuance of unsecured non-convertible debentures on private placement basis.
Anupam Rasayan India: The company intimated exchanges that there was a fire incident at its Unit-6 of Sachin GIDC plant in Surat on September 10. Four people have died and 20 people are injured in the fire incident.
HG Infra Engineering: Subsidiary HG Ateli Narnaul Highway has received completion certificate for road project in Haryana. With this, the project has been declared fit for entry into commercial operation on March 11, 2022.
Ashapura Minechem: Albula Investment Fund sold 14.5 lakh shares in the company via open market transactions. These shares were sold at an average price of Rs 101.97 per share. The fund held 7.93 percent stake or 72.57 lakh shares in the company as of June 2022.
Ujjivan Small Finance Bank: The small finance bank has issued non-convertible debentures of Rs 75 crore. The final redemption date for NCDs would be April 26, 2028 and the coupon rate is 11.95 percent.
Gujarat Industries Power: The company said board of directors approved the award of EPC contract worth Rs 244 crore to KEC International. The contract is for pooling sub-station 400/33 KV, 1200 MW of solar, wind, and hybrid renewable energy park of 2375 MW capacity in Gujarat.
JTL Infra: The company said the board of directors on September 13 to consider allotment of equity shares by conversion of warrants issued on preferential basis to non-promoters, and public category.
IRB InvIT Fund: IRB InvIT Fund is set to acquire Vadodara Kim Expressway HAM project in Gujarat from its sponsors IRB Infrastructure Developers at an enterprise value of Rs 1,297 crore and equity value of Rs 342 crore. The acquisition is expected to be completed by October 2022. After the acquisition is completed, the InvIT will have six operational and revenue generating assets in its portfolio.
Orient Tradelink: Story Mirror Infotech, the India’s largest literature technology platform, has signed up six book publishing deals with Orient Tradelink. This deal can bring Story Mirror easily a revenue of Rs 5 crore in a matter of next few years.
Moneycontrol News
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