Adani Ports, SBI, SpiceJet, Vedanta, RIL, Tata Power, Kirloskar Oil

  • Adani Ports and the Special Economic Zone: The company has won a Rs 25,000 crore project for the Tajpur deep sea port in West Bengal. The Greenfield project will see Rs 15,000 crore used for port development and the rest towards building related infrastructure.

    Meanwhile, Avantika Singh Olakh, venture capital and CEO of Gujarat Maritime Board, has resigned from the board of directors of Adani Port.

  • Central Bank of India: The State Bank of India has raised Rs 4,000 crore Basel III compliant Tier 2 bonds with a coupon rate of 7.57%. The term of the bond is 15 years with an option to buy after 10 years and on anniversary dates thereafter.

  • Reliance Industries: The company’s chief financial officer, Alok Agarwal, plans to sell 2.25 thousand shares from May 10 to August 31, 2023. He will also give away 1.25 thousand shares from May 10 to May 31, 2023.

  • SpiceJet: The aviation regulator, the DGCA, has extended a 50% limit on the number of SpiceJet flights until October 29 out of a “extreme caution”. The General Directorate of Civil Aviation said that the company would be subject to “strict monitoring” during this period.

  • Vedanta: The Federal Cabinet approved amendments to the semiconductor scheme and introduced the manufacturing ecosystem. Under the revised program, a standardized financial support of 50% of the project cost is to be provided for semiconductors across all technical nodes. The revised scheme will also provide financial support for 50% of the capital expenditure for the preparation of composite semiconductors/silicon photonics/sensors/discrete semiconductor FAPS.

  • Reliance Industries / Adani Companies / Tata Power: The Federal Cabinet has approved a production-linked incentive scheme of Rs 19,500 crore on the “National Program for High Efficiency Solar PV Modules” with the aim of attracting investments of Rs 94,000 crore in the sector.

  • Kirloskar oil engines: The company will acquire a stake in Ahmedabad-based La-Gajjar Machineries, making the latter a 100% subsidiary. It acquired 76% of LGM shares in 2017 with an agreement to acquire the remaining balance over a 5-year period.

  • Kirloskar Oil Engines has also appointed Anurag Bhajanya as Chief Financial Officer effective September 22nd.

  • future projects: The Registrar of Companies in Mumbai has granted the company a three-month extension to hold the General Assembly for the financial year ending March 2022, i.e. by December 31, 2022.

  • Mega Soft: The company paid more than Rs 56 crore to Extrovis AG for an additional 15.25% equity stake in the second tranche of the acquisition.

  • DLF: DLF Cyber ​​City Developers, a physical sub-unit of DLF, has earmarked 5,000 NCDs for a Rs 500 crore increase.

  • IDBI Bank: The Bank completed the sale of its entire stake in Ageas Federal Life Insurance Company to Ageas Insurance International NV. IDBI sold Rs 20 crore share, representing 25% of AFLI shares, to Ageas.

  • Punjab National Bank: The Bank has raised Rs 658 crore through additional Basel compliant Tier 1 equity securities under a coupon of 8.3%.

  • Ashoka Buildcon: The company has won a Rs 258.12 crore project from Southwest Railways to build a new BG line, including electrical and telecommunication works, in engineering, procurement and construction mode. The project will be completed within 24 months.

  • traditional foods: The company’s board of directors will meet on September 30 to consider and agree to raise funds by issuing equity shares on a rights issue basis.

  • PB Fintech: The company has invested about Rs 650 crore in its wholly owned subsidiary Policybazaar Insurance Brokers, and another Rs 250 crore in its wholly owned subsidiary Paisabazaar Marketing and Consulting.

  • Triveni Engineering and Industries: The company has divested its entire stake in Triveni Turbine, which represents 21.85% of the total contribution of the latter. The company sold 10% of its stake to Rati Sawhney, the current promoter, and the remaining 11.85% stake to various global and local investors through a collective trading window.

  • Green Energy KPI: The company has secured a new order from Greenlab Diamonds, Surat to implement a 5.40MW wind and solar hybrid power project under the “Captive Energy Producers Business Sector.

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