22/02/2021
⛳ Market News & Update ⛳
🔹Adani Ports & SEZ: Incorporates wholly-owned subsidiary Aqua Desilting Pvt. Ltd. to carry out business of dredging, desiltation and sale / disposal of such desilted material from sea, river, dams and other water bodies.
🔹Torrent Power: Emerges highest bidder for 51% privatisation of Power Distribution Company in Dadra & Nagar Haveli and Daman & Diu. With the addition of Dadra & Nagar Haveli (including Silvasa) and Daman & Diu, Torrent will distribute nearly 25 billion units to over 3.8 million customers and cater to a peak demand of over 5,000 MW.
🔹Shriram City Union Finance: To consider the issue and allotment of Secured, Rated, Listed, Redeemable, Principal Protected Market Linked (PP-MLD) NCDs of face value of Rs 10 lakh each worth Rs 100 crore with a green shoe option of up to Rs 400 crore at its board meeting on February 24, 2021.
🔹PNB Housing Finance: Promoter PNB says that it will not participate in the company's capital raising plans. The company will continue to pursue the proposed capital raising plans through permitted modes. The company had approved raising an amount of Rs 1,800 crore as tier-1
capital through QIP, preferential issue, rights issue or any other combination thereof on January 27, 2021.
🔹Jagran Prakashan: Board meeting on March 2, 2021 to consider buyback of equity shares.
🔹NTPC: 5 MW, last part capacity for the 20 MW Auraiya Solar PV Project in Uttar Pradesh has been declared on Commercial Operation on February 20, 2021. The total installed capacity of NTPC and NTPC group now stands at 52,115 MW and 64,880 MW respectively.
🔹Suven Life Sciences: Board of Directors approved issuance of 1.81 crore fully convertible warrants on a preferential basis to the promoter / promoter group. The price at which the warrants will be issued shall be determined later.
🔹Inox Leisure: Commenced commercial operations of Multiplex Cinema taken on leave and license basis in Kolkata. The said multiplex has two screens and 422 seats.
🔹Tata Consumer Products: Has successfully completed the acquisition of 100% shares in Kottaram Agro Foods. Consequently, Kottaram Agro Foods has now become a wholly-owned subsidiary of the company.
🔹Jubilant Foodworks: A wholly owned subsidiary of the company, Jubilant Foodworks Netherlands B.V., has entered into a purchase agreement with Turkish Private Equity Fund II L.P. to fully acquire Fides Food Systems Coöperatief U.A. which holds 32.81% equity shares in DP
Eurasia N.V. The cost of acquisition is approximately 24.80 million pounds. The company has also executed the Purchase Agreement as guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands B.V.
🔹Karnataka Bank: Has reported to RBI a fraud in the credit facilities extended earlier to IL&FS Transportation Networks with an outstanding balance of Rs 34.16 crore.
🔹Sheela Foam: Has received a closure order for its Jalpaiguri plant from the West Bengal Pollution Control Board. The company has suspended the operations at the unit.
🔹Aarti Drugs: Pinnacle Life Science LLC, a wholly-owned subsidiary of the company, incorporated at International Free Zone Authority, Fujairah, UAE, has been closed.
🔹Narayana Hrudayalaya: Health City Cayman Islands, a step-down subsidiary of the company running an existing hospital in the Cayman Islands is expanding to a new location in the Camana Bay Development area of Grand Cayman. The objective of the new facility is to expand the scope of superspecialty treatment options offered by HCCl's existing facility and offer medical services closer to the city center
