The Nifty futures contract traded on the Singapore Exchange suggests that local stocks are off to a good start. The contract was up 74.5 points, or 0.40%, from the previous close, trading at 18,684.50.
SpiceJet: Wilmington Trust, one of the airline’s lessors of aircraft, has asked the National Company Law Tribunal (NCLT) to start an insolvency procedure against the company since it hasn’t paid its debts. Today is the first day of this case’s hearing.
Go Fashion: Sequoia Capital, a US venture capital company, proposes to sell a 10% share in Go Fashion (India) for a total of Rs. 625 crore. At a floor price of Rs 1,135 per share, the transaction is most likely to take place on Monday in block transactions.
Tata Motors: The business has set July 29 as the record deadline for figuring out who is eligible to receive the FY23 final dividend.
Container Corporation of India (Concor): Because of interministerial roadblocks, the state-run company’s disinvestment may be postponed indefinitely. According to two individuals acquainted with the situation, the planned sale of the 30.8% share has not piqued the attention of the Ministry of Railways.
Amara Raja: The Group is prepared to increase its production capacity and increase its market presence in West Asia, East, South East Asia, and Africa via organic and inorganic approach in order to increase its footprint in lead-acid batteries. It has outlined a plan to grow its lead acid sector sales by 15% to $3 billion over the next five years.
Indian Oil (IOC): In the most recent auction of the fuel, Reliance Industries and its partner bp of the UK bid half of the natural gas that the company walked away with.
Bharat DalmiaAccording to MD and CEO Puneet Dalmia, the business intends to invest over Rs 19,000 crore to increase its cement production to 120 million tonnes per year (mtpa) by 2031 in order to capitalize on the infrastructure and housing boom.
Bank of India (BoI): During the current fiscal year, the public sector institution intends to issue tier II bonds to generate up to Rs 3,000 crore in capital. A plan to raise up to Rs 6,500 crore in FY24, of which Rs 4,500 crore would come through new tier-I bonds or equity and the remaining amount from tier II bonds, has also been authorized by the bank’s board.
Cochin Shipyard: The business has a contract with the Indian Navy for Rs 300 crore for the MR/Mid Life Upgrade of a ship.
Titagarh Rail Systems: The business authorized a plan to fund Rs 288.8 crore by issuing shares to Smallcap World Fund Inc. on a preferential basis.
Shriram Properties: Due to the robust housing market, the real estate company is aiming for a 25% increase in sales bookings this fiscal year from a record Rs 1,846 crore the year before.
Future Enterprises: For its manufacturing, selling, and leasing of retail infrastructure activities, the firm has issued an invitation for expressions of interest. The tentative list will be released on July 5, while the deadline for interest submissions is set at June 25.
