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Stocks in News

GAIL (India): The state-owned natural gas distribution company on March 31 will consider the proposal of buy back of the fully paid-up equity shares. 

Fino Payments Bank: The Reserve Bank of India has granted approval for referring customers of Fino Payments Bank to Finwizard Technology (FISDOM) for mutual fund distribution, and 5paisa Capital for demat & trading services under referral arrangement. 

Adani Enterprises: Subsidiaries Mahanadi Mines and Minerals Private Limited, and MP Natural Resources Private Limited are declared as successful bidders for coal blocks - Bijahan and Gondbahera Ujheni East coal block in Odisha and Madhya Pradesh respectively, by Government of India. The revenue sharing with government will be 14 percent for Bijahan coal block and 5 percent for Gondbahera Ujheni East coal block. 

Bharti Airtel: The telecom operator will acquire around 4.7 percent stake in Indus Towers from Euro Pacific Securities, an affiliate of Vodafone Group Plc, at a price of Rs 187.88 per share. The total transaction cost stands at Rs 2,388.06 crore. 

G R Infraprojects: The company has emerged as L-1 bidder for road project comprising upgradation to four lane with paved shoulder of NH-341 from Bhimasar to Anjar - Bhuj in Gujarat on Hybrid Annuity Mode. The bid cost of the project is Rs 1,085 crore and the said project is going to be completed within 730 days from appointed date. 

Emami: The company has acquired "Dermicool", one of the leading brands in prickly heat powder and cool talc category, from Reckitt Benckiser Healthcare (India). The acquisition cost stood at Rs 432 crore which is funded through internal accruals. 

Sagar Cements: The board has approved the issuance of 1,32,07,548 equity shares to PI Opportunities Fund, an affiliate of Premji Invest, an investment arm of Azim Premji's endowment and philanthropic initiatives, at an issue price of Rs 265 per share. This transaction will fetch the company Rs 350 crore which will be largely utilised towards meeting the organic and inorganic expansion plans of the company along with funding its general corporate purposes.