Stocks to watch out for today: Reliance Industries, Tata Steel, Ashok Leyland, SpiceJet, NDTV, HG Infra Engineering, Mahindra Lifespace Developers, JTL Infra, ONGC and more
Below are the stocks that are likely to remain in news today.
The firm has bought polyester chips and yarn manufacturer Shubhalakshmi Polyesters Ltd for Rs 1,592 crore, the company said. “Reliance Petroleum Retail Ltd (under name change to ‘Reliance Polyester Ltd’), a wholly owned subsidiary of the company, today executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters Ltd and Shubhlaxmi Polytex Ltd for cash consideration of Rs 1,522 crore and Rs 70 crore respectively, aggregating to Rs 1,592 crore by way of slump sale on a going concern basis,” the firm said.
The steel producer said 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.
The Hinduja group flagship firm said it has joined hands with UK-based Libertine Holdings for its commercial vehicle powertrains. The commercial vehicle major has signed a memorandum of understanding to evaluate the use of the Libertine technology platform for its commercial vehicle powertrains.
The airline said it has appointed Ashish Kumar as its Chief Financial Officer. Kumar’s appointment for the post is effective from September 9. Kumar succeeds Sanjeev Taneja, who quit the struggling carrier on August 31.
Anupam Rasayan India
The specialty chemical maker said 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.
NDTV promoter group firm RRPR Holding will not require I-T department’s go-ahead to convert warrants into equity shares to Visvapradhan Commercial (VCPL), an indirect subsidiary of Adani Enterprises, a notification said. On August 23, VCPL notified RRPR Holding that it was exercising its rights to convert warrants issued to it in 2009 into equity shares, which would give it control of 99.5 per cent of RRPR Holding.
HG Infra Engineering
The smallcap construction and engineering firm’s subsidiary HG Ateli Narnaul Highway has received the completion certificate for its road project in Haryana. The project has been declared fit for commercial operations as on March 11, 2022.
Mahindra Lifespace Developers
The realty firm plans to buy a few land parcels this fiscal to build housing projects with sales potential of Rs 3,000-4,000 crore. The company will acquire these land parcels either through outright purchase or by forming Joint Development Agreements (JDAs) with landowners.
The smallcap metal player 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.
Story Mirror Infotech, the India’s largest literature technology platform, has inked 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.
Ujjivan Small Finance Bank
The bank’s board has cleared the re-issuance and allotment of 7,500 subordinated, rated, unlisted, unsecured, transferable, redeemable, fully paid up, non-convertible debentures, denominated in Indian Rupees, having a face value of Rs 1 lakh each and an aggregate face value of Rs 75 crore.
The board has cleared the amalgamation of company’s four wholly owned subsidiary – Oberoi Constructions Ltd, Oberoi Mall Ltd, Evenstar Hotels Private Ltd and Incline Really Private Ltd.
Oil and Natural Gas Corporation
The company has inked six contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation Limited (IOCL).
The company said it has dissolved its subsidiary Oil India Cyprus.