Allcargo, BPCL, Power Grid, REC, RIL, Whirpool
NEW DELHI: Here are the 10 main actions that could make the news today.
Allcargo logistics: The company is considering a sale of a stake in its container shipping company ECU Worldwide, Bloomberg reported citing people familiar with the matter. Allcargo is looking for a deal that would value the ecu at around $ 1 billion, the people said.
BPCL: Bharat Petroleum Corporation Ltd (BPCL), linked to the privatization, plans to invest more than ??1 lakh crore over the next five years to increase petrochemical production capacity, gas activities, clean fuel and increased marketing infrastructure, its chairman Arun Kumar Singh said on Monday.
Finolex: After InGovern Research, another proxy advisory firm, Stakeholders Empowerment Services (SES), advised Finolex Cables Ltd shareholders to vote against the appointment of certain directors at the company’s annual meeting on September 29.
HDFC: India’s largest mortgage lender on Monday said it would increase to ??6,000 crore by issuing bonds on a private placement basis to increase long-term resources. Bonds in the nature of secured non-convertible redeemable debentures (NCDs) have a base issue size of ??3,000 crore with the possibility of keeping the over-subscription up to ??3,000 crore, HDFC said in a swap file.
Maruti Suzuki: The automaker told its component suppliers to be ready for production of 160,000 to 180,000 cars and SUVs in October, as the country’s largest passenger vehicle maker moves to secure the supply of chipsets through multiple channels, according to a news article.
Electricity network company: The state-owned company received shareholder approval to raise up to ??6,000 crore through bonds or debentures on a private placement basis.
RBL Bank: The Reserve Bank of India (RBI) on Monday imposed a fine of ??2 crore on RBL Bank Ltd for having flouted the standards related to the opening of bank accounts and the composition of the board of directors.
RIL: The company is in talks to buy a stake in Indian mobile content provider Glance InMobi Pte, according to people familiar with the matter. The conglomerate plans to invest around $ 300 million in the Google-backed unicorn of Alphabet Inc., the people said, asking not to be identified because the information is private. The deal could be finalized within the next few weeks, one of the people said.
REC: The Crown corporation received shareholder approval to raise up to ??85,000 crore by issuing bonds or non-convertible debentures. The funds would be raised on a private placement basis in one or more tranches, depending on the company.
Whirlwind of India: The company has signed a pact to acquire an additional 38% stake in Elica PB India for approximately ??420 crore to bring its total stake to 87%.
Never miss a story! Stay connected and informed with Mint. Download our app now !!