Reliance Industries: Says it does not comment on media speculation and cannot confirm or deny any transaction which may or may not be in the works. It also said that it evaluates various opportunities on an ongoing basis. Bloomberg reported on Thursday that it is mulling a $20 billion stake sale in Reliance Retail to Amazon.
National Fertilisers: Total fertiliser sale at 23.81 lakh MT between April-August 2020, a growth of 16% compared to the same period last year. Production up 13% to 16.11 lakh MT between April-August.
Bank of Baroda: Cuts MCLR by 5-30 basis points across various tenors from September 12. Overnight MCLR will now be at 6.7% while one-month MCLR at 7.1%.
Info Edge: Zomato closes primary fund raising of $100 million from Tiger Global and $60 million from Temasek holding. The food-delivery startup is now valued on a post-money valuation of $3.3 billion. The company holds 22.2% stake in Zomato.
Hexaware Tech: Promoter HT Global I.T. solutions released a pledge of 18.63 crore shares or 62.08% stake which was pledged to Deutsche Bank and six other lenders. The pledge was released on September 8 after redemption of bonds.
Amber Enterprises: Board approves closure of QIP. The company will issue 22.47 lakh shares to eligible qualified buyers at Rs 1,780 per share which is a 1% discount to the floor price.
Rashtriya Chemicals: Begins Methanol plant at its Trombay unit.
Panacea Biotec: NCLT Chandigarh has sanctioned demerger of the real estate business of the company into a new company, called Ravinder Heights.
Vaibhav Global: Commissioned a 1MW solar PV power generation project in Rajasthan. Together, the existing facility and the new plant will address around 45% of the company’s power requirements for the Jaipur facility.
Gujarat Gas: CARE ratings has upgraded the company’s long-term facilities worth Rs 2,000 crore from CARE AA to CARE AA+. The outlook has been revised to stable from positive.
ITI: The Army Static Switched Communication Network or ASCON has given its approval to ITI for a project for which it was declared the lowest bidder in 2017. The project is valued at Rs 7,796 crore.
Hindustan Copper: Board defers plans to consider raising of funds.
KEI Industries: CARE Ratings has upgraded company’s long-term facilities and fixed deposits to CARE A+. The outlook is maintained as stable.
J&K Bank: Expects credit growth of 5-7% in its loan book and is going for capital augmentation of Rs 4,500 crore to further cushion its lending capacity.
Route Mobile: IPO subscribed 4.21 times on the second day of bidding. Institutional subscription at 1.27 times, non-institutional investor subscription at 2.07 times and retail subscription at 6.81 times. Institutional category doesn’t include anchor portion.
Non-Nifty Earnings Today: BHEL, IRCTC, MIDHANI, Rail Vikas Nigam, Puravankara, Adani Green Energy, Future Supply Chain, Premier Explosives, OMDC
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