October 19, 2021

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Zee Entertainment, Indiabulls Housing, Axis Bank, United Breweries, NTPC and more

Stocks in news: Zee Entertainment, Indiabulls Housing, Axis Bank, United Breweries, NTPC and more

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Stocks in news: Zee Entertainment, Indiabulls Housing, Axis Bank, United Breweries, NTPC and more

Indian benchmark indices are likely to open higher today as SGX Nifty rose 103 points to 17,961 amid positive global cues. Sensex closed above the 60,000-mark for the first time on September 24, led by gains in information technology (IT) and realty stocks. While Sensex ended 163 points higher at 60,048, Nifty closed at its record peak of 17,853, climbing 30 points against the previous close.

Here’s a look at stocks that are likely to remain in news today.

Zee Entertainment: Invesco has renewed its demand for an extraordinary general meeting to replace the board of Zee Entertainment. The second letter comes after the media giant announced a merger with Sony Pictures Networks India last week. The first letter was sent on September 12 by Invesco Developing Markets Fund and OFI Global China Fund IIC, that hold 17.88 per cent shares in the company, seeking an extraordinary general meeting and the removal of Managing Director Punit Goenka and two directors of the company, Manish Chokhani and Ashok Kurien.

NTPC: State-owned power major NTPC has won 1.9 GW solar projects in CPSU Scheme-II tender. With this, NTPC now has over 6.3 GW capacity won through competitive biddings.

Biocon: The biotechnology firm said the US health regulator has issued six observations after the inspection of the manufacturing facility of its Malaysian subsidiary Biocon Sdn Bhd. The USFDA conducted an on-site pre-approval inspection of the company’s Malaysian subsidiary Biocon Sdn Bhd’s manufacturing facility for Insulin Aspart between September 13 and September 24.

NBCC: State-owned NBCC has won a Rs 968 crore contract, its biggest order in the overseas market, for the construction of 2,000 social housing in Maldives. In a regulatory filing, NBCC said that it has secured the work order of construction of 2000 Social Housing at Hulhumale, Maldives on EPC basis.

Reliance Infrastructure: The company’s board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis.

Balkrishna Industries: Off-highway tyres firm Balkrishna Industries said it would raise up to Rs 1,000 crore through long-term borrowings. In a regulatory filing, the company said its board at a meeting held on Saturday decided to raise “funds up to Rs 1,000 crore through broader means of long-term finance”.

NHPC: State-owned NHPC said its board has cleared the proposal to form a subsidiary for the development of renewable energy, small hydro and green hydrogen projects.

United Breweries: Competition Commission of India has imposed fines totalling over Rs 873 crore on United Breweries Ltd, Carlsberg India, All India Brewers’ Association (AIBA) and 11 individuals for cartelisation in the sale and supply of beer.

Axis Bank: UBS Principal Capital Asia on Friday sold shares of Axis Bank worth nearly Rs 255 crore through an open market transaction. 32.14 lakh shares were offloaded at an average price of Rs 793.1 apiece, according to block deal data on BSE.  This amounts to a total deal value of Rs 254.9 crore.

Indiabulls Housing: The firm has raised Rs 800 crore by allotting bonds through a public issue. The bond issue committee of its board of directors, through a resolution on Friday, approved an allotment of 7,922,755 non-convertible debentures (NCDs) of a face value of Rs 1,000 each aggregating to Rs 7,922,755,000 on a public issue basis.

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