Adani Green Energy: The wholly owned subsidiary Adani Renewable Energy (MH) Energy has completed acquisition of 100% of the share capital and all the securities of Vento Energy Infra from Essel Green Energy.
Jain Irrigation Systems: The company’s wholly owned subsidiary, Jain International Trading BV, Netherlands, has completed the restructuring of $200 million bonds listed on Singapore Stock Exchange.
SBI, Bank of Baroda and Union Bank of India have each subscribed to 1.98 crore shares of National Asset Reconstruction Company. However, the four banks will reduce their stake in NARC to 9.90% from 13.2 % by December 31. Canara Bank has subscribed to 2.40 crore shares of NARC. It will reduce its stake in the asset reconstruction company to 12% from 16.09% by December 31. PNB has subscribed to 1.80 crore shares of NARC. It will reduce its stake to 9% from 12.06% by December 31.
IRB Infrastructure Developers: Board has approved the allotment of secured NCDs aggregating to Rs 350 crore on a private placement basis to IDBI Bank. The coupon rate has been fixed at 9.55% per annum for a tenure of 6 years.
IIFL Wealth Management: IIFL Asset Management’s asset base has crossed Rs 50,000 crore-mark. The fund house's aggregate AUM comprising alternative assets and mutual fund rose
to Rs 50,019 crore from Rs 37,372 on March 31, FY21. IIFL AMC is a wholly owned subsidiary of the company.
Jain Irrigation Systems: The company’s wholly owned subsidiary, Jain International Trading BV, Netherlands, has completed the restructuring of $200 million bonds listed on Singapore Stock Exchange.
SBI, Bank of Baroda and Union Bank of India have each subscribed to 1.98 crore shares of National Asset Reconstruction Company. However, the four banks will reduce their stake in NARC to 9.90% from 13.2 % by December 31. Canara Bank has subscribed to 2.40 crore shares of NARC. It will reduce its stake in the asset reconstruction company to 12% from 16.09% by December 31. PNB has subscribed to 1.80 crore shares of NARC. It will reduce its stake to 9% from 12.06% by December 31.
IRB Infrastructure Developers: Board has approved the allotment of secured NCDs aggregating to Rs 350 crore on a private placement basis to IDBI Bank. The coupon rate has been fixed at 9.55% per annum for a tenure of 6 years.
IIFL Wealth Management: IIFL Asset Management’s asset base has crossed Rs 50,000 crore-mark. The fund house's aggregate AUM comprising alternative assets and mutual fund rose
to Rs 50,019 crore from Rs 37,372 on March 31, FY21. IIFL AMC is a wholly owned subsidiary of the company.
Listing of Equity Shares of Paras Defence and Space Technologies Limited (IPO) w.e.f. 1 October, 2021 in trade to trade
Issue price : ₹175/-
Issue price : ₹175/-
STOCKS TO WATCH:
NBCC (INDIA): Co Gets Work Order For Construction Of Drug Warehouse Under National Health Mission || Co says Total Order Value 964.8m Rupees
G R Infraprojects: Co Received Letter Of Award (LoA) For New Project || Bid Project Cost At 9.51b Rupees
Bajaj Electricals: Co Says Co's Stake In Nirlep Has Increased From 79.85% To 99.63%
SRF: Co Says Part Of Project For Setting Up Plants To Produce Specialty Chemicals Has Been Commissioned At 235m Rupees
Bank Of India: Co Raises Rs 1,800 Cr Via Basel-III-Compliant Bonds
NMDC: Co Eyes 47 Mt Iron Ore Production In Fy22 || Co To Spend Rupees 3,720 Cr On Capex
Welspun Corp: Co Says Capital Market Authority In Saudi Arabia Approved Initial Public Offering Of Saudi JV
Zee Entertainment: Co Board Scheduled To Meet As Per Statutory Time Allotted, In Relation To Nclt Matter - Co Spokesperson
Jubilant Foodworks: Co Unit Jubilant Foodworks Netherlands B.V. Announces Reverse Bookbuild To Acquire Shares In Dp Eurasia N.V. At 95 Pence Per Share
Vikas Lifecare: Co Signed MoU With National Agricultural Cooperative Marketing Federation Of India
HCL Technologies: Co Announces Availability Of Dryice™ Iautomate On Google Cloud Marketplace
Maruti Suzuki India: Co Says Due To Semiconductor Shortage Situation, Co Is Expecting An Adverse Impact On Vehicle Production In Month Of October
Phillips Carbon Black: Co Approved QIP Floor Price Of 255.85 Rupees Per Share
NBCC (INDIA): Co Gets Work Order For Construction Of Drug Warehouse Under National Health Mission || Co says Total Order Value 964.8m Rupees
G R Infraprojects: Co Received Letter Of Award (LoA) For New Project || Bid Project Cost At 9.51b Rupees
Bajaj Electricals: Co Says Co's Stake In Nirlep Has Increased From 79.85% To 99.63%
SRF: Co Says Part Of Project For Setting Up Plants To Produce Specialty Chemicals Has Been Commissioned At 235m Rupees
Bank Of India: Co Raises Rs 1,800 Cr Via Basel-III-Compliant Bonds
NMDC: Co Eyes 47 Mt Iron Ore Production In Fy22 || Co To Spend Rupees 3,720 Cr On Capex
Welspun Corp: Co Says Capital Market Authority In Saudi Arabia Approved Initial Public Offering Of Saudi JV
Zee Entertainment: Co Board Scheduled To Meet As Per Statutory Time Allotted, In Relation To Nclt Matter - Co Spokesperson
Jubilant Foodworks: Co Unit Jubilant Foodworks Netherlands B.V. Announces Reverse Bookbuild To Acquire Shares In Dp Eurasia N.V. At 95 Pence Per Share
Vikas Lifecare: Co Signed MoU With National Agricultural Cooperative Marketing Federation Of India
HCL Technologies: Co Announces Availability Of Dryice™ Iautomate On Google Cloud Marketplace
Maruti Suzuki India: Co Says Due To Semiconductor Shortage Situation, Co Is Expecting An Adverse Impact On Vehicle Production In Month Of October
Phillips Carbon Black: Co Approved QIP Floor Price Of 255.85 Rupees Per Share
World Markets
Dow - 547
Nasdaq - 64
Dax - 105
Nikkei - 450
Hangseng Closed
Sgxnifty - 160 (17451)
Brent Crude 78.31
Dow Fut - 167
Dollar Index 94.35
Dow - 547
Nasdaq - 64
Dax - 105
Nikkei - 450
Hangseng Closed
Sgxnifty - 160 (17451)
Brent Crude 78.31
Dow Fut - 167
Dollar Index 94.35
The National Company Law Tribunal (NCLT) on Thursday asked Zee Entertainment and its board to consider the requisition of Invesco Developing Markets Fund and OFI Global China Fund LLC, who hold 18 per cent stake in the company, to hold an extraordinary general meeting (EGM) of the company.
Ola Electric, has raised over $200 million led by Falcon Edge, Softbank and others, tripling its valuation to $3 billion.
Ola will accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. Negative for Other 2W companies
Ola will accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. Negative for Other 2W companies
*Introduction of Futures & Options Contracts on 8 Individual Securities w.e.f. October 01, 2021*
1 ABBOTINDIA
2 CROMPTON
3 DALBHARAT
4 DELTACORP
5 INDIACEM
6 JKCEMENT
7 OBEROIRLTY
8 PERSISTENT
1 ABBOTINDIA
2 CROMPTON
3 DALBHARAT
4 DELTACORP
5 INDIACEM
6 JKCEMENT
7 OBEROIRLTY
8 PERSISTENT
Why Jhunjhunwala thinks power reforms will be bigger than 1991's liberalisation
https://economictimes.indiatimes.com/markets/stocks/news/why-jhunjhunwala-thinks-power-reforms-will-be-bigger-than-1991s-liberalisation/articleshow/86651638.cms
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https://economictimes.indiatimes.com/markets/stocks/news/why-jhunjhunwala-thinks-power-reforms-will-be-bigger-than-1991s-liberalisation/articleshow/86651638.cms
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The Economic Times
Why Jhunjhunwala thinks power reforms will be bigger than 1991's liberalisation
The government is expected to introduce the Electricity (Amendment) Bill, 2021 in Parliament soon. The bill is the latest attempt by the Centre to reform a sector that has seen incremental reforms for the past 25 years without ever dealing with the issues…
Sebi rolls out swing pricing to protect debt mutual fund investors
https://mybs.in/2ZhZH0F
https://mybs.in/2ZhZH0F
Business-Standard
Sebi introduces swing pricing to protect debt mutual fund investors
In a circular on Wednesday, the regulator said initially the mechanism will be made applicable only for during net outflows
Maruti Suzuki to cut October output by 40% due to semiconductor shortage
https://www.moneycontrol.com/news/technology/auto/maruti-suzuki-to-cut-october-output-by-40-due-to-semiconductor-shortage-7528491.html
https://www.moneycontrol.com/news/technology/auto/maruti-suzuki-to-cut-october-output-by-40-due-to-semiconductor-shortage-7528491.html
Moneycontrol
Maruti Suzuki to cut October output by 40% due to semiconductor shortage
The cut in output comes just at the start of the festive season which begins on October 7 with the start of Navratri. This is usually the time of the year when automakers build inventory for the rush in demand
Govt hikes domestic natural gas price by 62% to $2.90/mBtu Oct-Mar- The government has increased the price of domestically produced natural gas by 62% to $2.90 per mBtu for Oct-Mar from Apr-Sep’s $1.79 per mBtu, according to information available with the oil ministry's Petroleum Planning and Analysis Cell. The government has hiked the price ceiling of natural gas produced from difficult fields by 69.3% to $6.13 per mBtu for the six months starting October from Apr-Sep's $3.62 per mBtu. These prices are on gross calorific value basis.
Domestic gas prices are revised every six months, usually at the end of March and the end of September. This is the first instance of domestic gas price being increased in the last two years. The price for Apr-Sep had been kept unchanged from the previous level and was preceded by three consecutive price reductions.
The price of domestic natural gas is fixed using a formula based on the volume weighted average of rates in gas-surplus countries like the US, Russia, and Canada, according to the domestic gas pricing policy. The rates are based on 12-month trailing average prices with a three-month lag. As for price ceiling for gas from difficult blocks, producers have been given pricing and marketing freedom capped by a ceiling price, arrived at on the basis of landed price of alternative fuels.
IMPACT: The price hikes are seen as a positive for natural gas producers like Oil and Natural Gas Corp Ltd, Reliance Industries Ltd, and Oil India Ltd. However, sectors consuming domestic natural gas--particularly the city gas distribution sector--would see a rise in costs. Usually, city gas distribution players like Indraprastha Gas Ltd and Mahanagar Gas Ltd expected to announce changes in retail selling price of compressed natural gas and piped natural gas in line with the revisions in domestic gas prices.
Domestic gas prices are revised every six months, usually at the end of March and the end of September. This is the first instance of domestic gas price being increased in the last two years. The price for Apr-Sep had been kept unchanged from the previous level and was preceded by three consecutive price reductions.
The price of domestic natural gas is fixed using a formula based on the volume weighted average of rates in gas-surplus countries like the US, Russia, and Canada, according to the domestic gas pricing policy. The rates are based on 12-month trailing average prices with a three-month lag. As for price ceiling for gas from difficult blocks, producers have been given pricing and marketing freedom capped by a ceiling price, arrived at on the basis of landed price of alternative fuels.
IMPACT: The price hikes are seen as a positive for natural gas producers like Oil and Natural Gas Corp Ltd, Reliance Industries Ltd, and Oil India Ltd. However, sectors consuming domestic natural gas--particularly the city gas distribution sector--would see a rise in costs. Usually, city gas distribution players like Indraprastha Gas Ltd and Mahanagar Gas Ltd expected to announce changes in retail selling price of compressed natural gas and piped natural gas in line with the revisions in domestic gas prices.