The Nifty futures contract traded on the Singapore Exchange indicates a muted start to domestic equities. The contract was trading at 17,086 , up 8 points or 0.05% from the previous close.
Adani Group: Following yesterday’s dismal performance on the bourses amid buzz of unreleased pledged shares, Adani Group CFO Jugeshinder Robbie Singh termed reports suggesting that the company’s March 7 and 12 announcements did not match with the information available on stock exchanges as “deliberate misrepresentation”.
He said stock exchanges update data on promoter share pledges at the end of the quarter.
Vedanta: The board of Anil Agarwal-led Vedanta on Tuesday approved the company’s fifth interim dividend for FY23, Rs 20.50 per equity share. With this, the company’s total dividend outgo for the ongoing financial year would be its highest ever, at Rs 37,730 crore.
Jindal Stainless: The stainless steel major and New Yaking Pte, which is part of Eternal Tsingshan Singapore, have signed an agreement to set up a nickel pig iron (NPI) smelter in Indonesia. Jindal Stainless will invest Rs 1,200 – 1,300 crore, giving it a 49 per cent stake in the joint venture (JV) company while the balance would be with New Yaking.
JSW Energy: Reliance, Tata Power Solar, and JSW Energy have been allotted sums in different categories in the second tranche of the solar PLI (production-linked incentive) scheme totalling Rs 13,937 crore. Reliance alone has received Rs 3,098 crore.
NHPC: The company’s board has approved the proposal for raising of Debt up to Rs 5,600 crore in the financial year 2023-24, through issuance of secured/ unsecured, redeemable, taxable, non-cumulative non-convertible Corporate Bonds in one or more series/ tranches.
PNB Housing Finance: The company’s board has approved Rights Issue worth Rs 2,494 crore. The company plans to issue 90.68 million fully paid-up equity shares each for Rs 275. The company has set Wednesday, April 05, 2023 as the record date for determining the eligibility of shareholders for participation in the rights issue. Subscription for the Rights Issue will be open from April 13 – April 27, 2023.
Britannia: The Board of Britannia is scheduled to be held on April 4, to consider the payment of interim dividend for the financial year 2022‐23.
Zydus Lifesciences: Zydus Lifesciences has received final approval for Loperamide Hydrochloride Capsules from the United States Food and Drug Administration (USFDA). Loperamide hydrochloride capsule is indicated for the control and symptomatic relief of acute nonspecific diarrhea and chronic diarrhea associated with inflammatory bowel disease.
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