Auto stocks: The Union cabinet is likely to consider a production linked incentive (PLI) scheme for specific segments in the automobile sector on Wednesday, a person familiar with the development said.
Godawari Power & Ispat: The company announced that its board of directors have approved the proposal of sub-division of shares (stock split) in the ratio of 1:2 to improve the liquidity of the company’s share on the stock market and also to facilitate small investors to deal in its shares.
Hindustan Aeronautics Ltd: The company and Rolls-Royce (RR) on Tuesday signed an agreement for Make-in-India Adour engine parts to support the latter’s international defence customer base.
LIC Housing: Life Insurance Corporation of India’s stake in LIC Housing Finance increased to 45.239% from 40.313% from a preferential allotment of 4,54, 00,000 shares.
Reliance Infrastructure: The company will receive a sum of ₹7100 cr from the Delhi Metro Rail Corporation Limited (DMRC) which the company will utilise to repay the debt of Reliance Infrastructure and to make the company debt-free, Chairman Anil Ambani said on Tuesday during an Annual General Meeting (AGM) of the company.
RIL: The company is in talks with China’s Hualu Engineering and Technology Co. Ltd to make polysilicon, a key ingredient in manufacturing solar panels, two people aware of the matter said. In other news, Jio is getting closer to launching its affordable JioBook laptop as the device was reportedly listed on the Bureau of Indian Standards (BIS) portal for certification.
Shree Cement: The company will invest ₹500 crore in solar power plants with a capacity of upto 106 MWP to meet captive power requirement of cement plants. The cement company will invest ₹3,500 crore in a cement plant in Rajasthan. It also plans to invest ₹750 crore on a clinker unit in Purulia, West Bengal.
Srei Infra: Struggling to retain its staff, Srei Infrastructure Finance has suffered yet another blow as its chief executive Rakesh Kumar Bhutoria resigned even as the company is going through the debt resolution process with the lenders, sources said on Tuesday.
ZEEL: Leading media firm Zee Entertainment Enterprise Ltd (ZEEL) is embarking on a new path under ‘ZEE 4.0’, through which it aims to enhance profitability and continue to grow ahead of the industry, its managing director Punit Goenka said. Meanwhile, Ace investor Rakesh Jhunjhunwala through investment arm Rare Enterprises has picked up nearly 50 lakh shares in ZEEL for ₹110.22 crore in a block deal. Bofa Securities Europe SA also bought 48.65 lakh shares for ₹115 crore.
Were The Stocks In Focus Today 15-09-2021
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