Buzzing Stocks: Tata Tech, Bharti Airtel, Wipro, Zomato, Wipro, Coal India, NHPC, and others in the news
Zomato: According to sources who spoke with CNBC-Awaaz, Antfin Singapore Holdings Pte, the Chinese part of the Ant Group, may sell up to a 2 percent stake (17.64 crore shares) in Zomato for Rs 2,800 crore through a block deal. At a 4 percent discount to the current market pricing, the floor price for the block offer has been set at Rs 159.4 per share.
Wipro: To bolster its position as a leader in software-defined vehicle and cloud car engineering services, the IT services provider purchased a 27% share in SDVerse LLC. It is anticipated that the transaction will be finished by the end of March 2024.
NHPC: In Jalaun, Uttar Pradesh, the 1,200-MW Jalaun Ultra Renewable Energy Power Park is now under development by the state-run power utility. With an investment of Rs 796.96 crore, Bundelkhand Saur Urja, a subsidiary of NHPC, would create the solar park. The park is expected to be operational in 24 months following investment approval and provide 2,400 MUs of energy annually.
Tata Technologies: S Sukanya has been named chief operating officer of the Tata Group company, effective March 6, 2024. S. Sukanya held the positions of Chief Information Officer and Senior Vice President at Tata Consultancy Services.
Coal India: The Gevra mine in Chhattisgarh, operated by Coal India subsidiary South Eastern Coalfield, has the potential to surpass all other coal mines in Asia in size. The mine’s present 52.5 million metric tonnes of production capacity would increase to 70 million tons annually with environmental clearance.
Bharti Airtel: The Special Committee of Directors for Fund Raising of the telecom operator has approved the allotment of 56,81,733 fully paid-up equity shares at a conversion price of Rs 518 per equity share to FCCB holders following the receipt of notices for conversion of FCCBs of principal value of $40,862,000 from certain FCCB holder(s). As listed on the Singapore Exchange, FCCBs have an outstanding principal value of $337.967 million.
Tourism and Catering Corporation of Indian Railways: A Memorandum of Understanding (MoU) between IRCTC and Swiggy (Bundl Technologies) outlines the terms under which Indian Railways passengers can get pre-ordered meals through IRCTC e-Catering Services. The first stations to offer this service will be in Bengaluru, Vijayawada, Visakhapatnam, and Bhubaneswar. Depending on mutual agreement, the number of stations may be raised or decreased while the Proof of Concept (PoC) is in effect.
Havells: In India The electrical equipment manufacturer intends to add kitchen appliances including cooktops, hobs, chimneys, and other built-in appliances to its current line of products. It is anticipated that the new endeavor will profit from business synergies with its current line of compact household goods. After three years of operation, the company wants to rank among the top three players in the market. To meet the needs of the domestic market, the complete product line will be outsourced. The products in this category are anticipated to launch in May 2024.
-Daisy