Adani Enterprises
In recent news, Adani Enterprises securities have been removed from the short-term Additional Surveillance Measure (ASM) framework, as notified by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This change will come into effect on Friday.
Aditya Birla Capital
Aditya Birla Capital, a prominent financial services provider, announced today that its board of directors has granted approval for a preferential share issuance of Rs 1,250 crore to its promoter and promoter-related businesses. This issuance is a component of the company’s equity fundraising strategy, with an authorized fundraising limit of up to Rs 3,000 crore.
Coal India
Coal India, a prominent state-owned coal producer, has recently experienced significant interest from institutional investors for the government’s offer-for-sale (OFS). The two-day OFS, intended to sell a 3% stake in Coal India, garnered enthusiastic participation and resulted in oversubscription. The Secretary of the Department of Investment and Public Asset Management (DIPAM) stated that non-retail investors subscribed to the issue at a rate of 3.46 times the base size.
Vedanta Ltd
Vedanta Resources Limited (Vedanta), the parent company of Vedanta Ltd, a major mining company listed in Mumbai, announced on Wednesday that it has achieved significant progress in reducing its debt. Led by billionaire Anil Agarwal, the company disclosed that it has successfully repaid USD 400 million in loans, resulting in a decrease in its gross debt to USD 6.4 billion. This represents a significant milestone in Vedanta’s strategy to reduce leverage, which began in March 2022 and has already led to a reduction of USD 3.3 billion in debt.
L&T
Larsen & Toubro (L&T), a company specializing in power transmission and distribution, has revealed its participation in the construction of the world’s largest green hydrogen plant. This ambitious project is being developed by NEOM Green Hydrogen Company and will be located in Oxagon within Saudi Arabia’s NEOM region. The primary objective of the plant is to generate green hydrogen on an unprecedented scale for global export, with the hydrogen being converted into green ammonia.
Hero MotoCorp
The largest two-wheeler manufacturer in the country has reported sales of 519,000 units in May 2023, meeting analysts’ expectations and showing a 7% increase compared to the same month last year. Domestic sales experienced a year-on-year growth of 9% to reach 508,000 units, while exports declined by 44.8% to 11,165 units during the same period.
NTPC Ltd
NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC Ltd, and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) have joined hands to establish renewable energy parks in Uttar Pradesh.
Lupin Limited
Lupin Limited, a prominent pharmaceutical company, made an exciting announcement on Thursday regarding its subsidiary, Novel Laboratories Inc. The United States Food and Drug Administration (US FDA) has granted approval for Diazepam Rectal Gel, a vital medication used in emergency situations to manage cluster seizures in individuals who are already undergoing treatment for epilepsy.
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