Buzzing Stocks: Shriram Finance, REC, HG Infra, RITES and others in news today – Moneycontrol

January 2, 2023
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Stocks to Watch: Check out the companies making headlines before the opening bell.

New Delhi Television: Gautam Adani to control nearly 65% stake in NDTV post stake sale by founders. Billionaire Gautam Adani will control 64.71% stake in NDTV as founders Prannoy Roy and Radhika Roy have decided to transfer 27.26% stake in the company to Adani. Adani via RRPR Holding and Vishvapradhan Commercial already held more than 37% in NDTV after an open offer and an earlier acquisition of a company owned by the founders. After this transaction, founders will hold 5% stake in NDTV.

New Delhi Television : RRPR Holding, an indirect subsidiary of billionaire Gautam Adani-owned group, has bought 1 . 75 crore shares or 27. 26% stake in NDTV at an average price of Rs 342. 65 per share. However , Prannoy Roy and his wife Radhika Roy were the particular sellers, and with this stake sale, now they together hold 5% risk in NDTV.

Elin Electronics: Copthall Mauritius Investment Limited non-ODI Account exited the electronics manufacturing services company by selling all 5.42 lakh shares via open market transactions, at an average price of Rs 231.42 per share. Societe Generale also offloaded 3.37 lakh shares at an average price of Rs 234.27 per share, while Morgan Stanley Asia (Singapore) Pte sold 5 lakh shares at an average price of Rs 231.6 per share. Morgan Stanley Asia (Singapore) held 10.06 lakh shares before the listing of Elin.

Elin Electronics : Copthall Mauritius Investment Limited non-ODI Account exited typically the electronics manufacturing services company by selling all 5. 42 lakh shares via open market transactions, at an average associated with Rs 231. 42 per share. Societe Generale also offloaded 3. 37 lakh shares in a average price of Rs 234. 27 for each share, while Morgan Stanley Asia (Singapore) Pte sold 5 lakh shares at an average associated with Rs 231. 6 each share. Morgan Stanley Asia (Singapore) held 10. 06 lakh shares before this listing of Elin.

Shriram Finance: The company raised $100 million long-term funds from the Asian Development Bank. The funding will enable company to provide credit towards the purchase of new and used vehicles throughout India.

Shriram Finance : The company has raised $100 million long-term funds from the Asian Development Bank. The funding will enable company to provide credit towards the purchase of new and used vehicles throughout India.

Gulshan Polyols: The company has signed and executed a contract with Meghna Pulp & Paper Mills, received on May 9. It will supply GCC, GCC coating plant, vibrator separating machine with standard accessories including motor, conveyor, panel etc. and spare parts for GCC & GCC coated machine to Meghna Pulp.

Gulshan Polyols : The organization has announced collaboration with Amplus, a subsidiary of a Singapore-based organization, to purchase electricity in the form of solar energy for its Muzaffarnagar plant in Uttar Pradesh. Gulshan expects to procure 4 to 5 Lakhs units of electricity per month at 30-40% subsidized cost through this association.

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HG Infra Engineering : The business offers emerged as the L1 bidder for the project by Delhi Metro Rail Corporation in Delhi. The project bid cost is Rs 412. 11 crore and often the construction period is 24 months.

Muthoot Capital Services: The company has completed transaction of Rs 82.87 crore through securitization of portfolio. This is the sixth securitization or direct assignment transaction carried out by the company during FY23.

Muthoot Capital Services : The business has completed the transaction of Rs 82. 87 crore through securitization associated with portfolio. This is your sixth securitization or direct assignment deal carried out simply by the firm during FY23.

Harsha Engineers International to invest 5% of total capital contribution in Goldi Harsha Ventures Harsha Engineers International: The company will make an investment up to 5% of total capital contribution in Goldi Harsha Ventures. Goldi Harsha Ventures is a special purpose vehicle to execute an EPC project for installation of 10 MW solar power project of Surat Municipal Corporation (SMC) alongwith comprehensive operation and maintenance. The SPV is yet to commence business.

Harsha Engineers International : The company will make an investment up to 5% of total capital contribution in Goldi Harsha Ventures. Goldi Harsha Ventures is a special purpose vehicle in order to execute an EPC project for installation of 10 MW solar power project regarding Surat Municipal Corporation (SMC) alongwith comprehensive operation plus maintenance. The SPV is yet to be able to commence business.

Punjab & Sind Bank: The bank has received board approval for fund raising up to Rs 250 crore in next one year in one or more tranches, via equity or bonds issuance.

Punjab & Sind Bank : The bank has received board approval for fund raising up to Rs 250 crore in next one year within one or more tranches, through equity or bonds issuance.

Jammu & Kashmir Bank: The bank has raised Rs 1,021 crore via allotment of 1,021 non-convertible debentures of face value of Rs 1 crore.

Jammu & Kashmir Bank : The bank has raised Rs 1, 021 crore via allotment of 1, 021 non-convertible debentures of face value of Rs 1 crore.

REC: The state-owned power project finance company has received board approval for sale of entire shareholding in WRSR Power Transmission, to Adani Transmission. WRSR Power Transmission is presently owned by REC's subsidiary REC Power Development and Consultancy (RECPDCL). Adani Transmission has been selected as the successful bidder through tariff based competitive bidding process.

REC : The particular state-owned power project finance company offers received table approval with regard to sale involving entire shareholding in WRSR Power Transmission, to Adani Transmission. WRSR Power Transmission is presently owned by simply REC’s subsidiary REC Power Development in addition to Consultancy (RECPDCL). Adani Tranny has been selected as the successful bidder via tariff based competitive bidding process.

Performance shares are a form of an incentive awarded to employees if certain performance objectives are met.

Tata Motors : Tata Passenger Electric Mobility, the subsidiary connected with Tata Engines, has decided to complete the exact acquisition with Ford India’s manufacturing plant at Sanand inside Gujarat on January 10, 2023. As a part of acquisition, Ford India will transfer entire land and buildings; and vehicle manufacturing plant along with machinery and equipment; for Rs 725. 7 crore, along with all eligible employees.

NMDC: Life Insurance Corporation of India pared stake in the state-owned iron ore company by 2.07% via open market transactions. With this, LIC's shareholding in NMDC will be reduced to 13.699%, from 15.772% earlier.

NMDC : Life Insurance Corporation for India pared stake in the state-owned iron ore corporation by 2 . 07% by way of open marketplace transactions. With this, LIC’s shareholding in NMDC will be reduced for you to 13. 699%, from 15. 772% earlier.

Religare Enterprises: Religare Finvest and parent company Religare Enterprises have entered into one-time settlement agreement with 16 lenders for full & final settlement with respect to outstanding dues of Religare Finvest. Religare Finvest has been taking necessary corrective measures as advised by the Reserve Bank of India and it will seek removal of the CAP (corrective action plan) in due course so that Religare Finvest can restart its lending business.

Religare Enterprises : Religare Finvest and parent company Religare Enterprises have entered into one-time settlement agreement with 16 lenders regarding full & final settlement with respect to outstanding dues about Religare Finvest. Religare Finvest has been taking necessary corrective measures while advised by means of the Reserve Bank in India and it will seek removal of the CAP (corrective action plan) in due course so that Religare Finvest can restart its lending business.

Engineers India | CMP: Rs 81.70 | The share price ended in the green after the company secured an assignment for providing Owner’s Engineer Services for 30,000 MTPA Polysilicon and 500 MTPA Monosilane Project from Mundra Solar Technology (a group company of Adani Enterprises Ltd.) The company informed exchanges on December 15.

Engineers Indian : Typically the company and even Numaligarh Refinery have inked a memorandum of contract (MoA) to help jointly develop technology intended for production from aqueous ammonia from hydrogen rich sour gases.

63 Moons Technologies: The company will provide software support services to Multi Commodity Exchange of India for another six months period commencing January 1, 2023 to June 30, 2023, at the request of MCX. The earlier software support and maintenance agreement ended on December 31, 2022.

63 Moons Technologies : The provider will provide software support services to Multi Commodity Exchange of Of india for another six months period commencing January 1, 2023 to June 30, 2023, at the request of MCX. This earlier software program support and maintenance agreement ended on December 31, 2022.

CreditAccess Grameen: CreditAccess Grameen raises $90 million via external commercial borrowings. As a part of the diversification of funding strategy, the company has, by way of external commercial borrowings with a door-to-door tenure of four years, entered an arrangement to avail $90 million through loan syndication arrangement led by HSBC Bank, which acted as lead arranger and book runner. The other lenders in the syndication arrangement include Bank of India, Union Bank of India and UCO Bank.

CreditAccess Grameen : The enterprise has finished two immediate assignment transactions aggregating to Rs 297. 79 crore in December 2022. During the quarter ending Dec 2022, the particular company features raised total funds associated with Rs 3, 300. 38 crore by means of term loans, NCDs, ECBs and primary assignments.

Rakesh Patil