Indian Govt Challenges Hindustan Zinc’s Vedanta Acquisition
According to Stock news, the Sensex and the Nifty both fell by 0.51% and 0.56%, respectively, on Monday, indicating a downward trend in Indian equities. Also volatile were the shares of mid and small-sized companies, with the Nifty Midcap 100 rising by 0.08% and the smallcap shares falling by 0.34%, respectively. Check out the most recent developments involving a few equities that may continue to attract attention today.
BPCL (Bharat Petroleum Corporation Limited) is looking to raise as much as 1,500 crores through the tender offer of unsecured non-convertible debt securities in the current fiscal year 2022-23, depending on market conditions.
Despite billionaire Anil Agarwal’s best efforts to reduce the giant’s 7.7 billion dollar net debt, the Indian government has challenged Hindustan Zinc Ltd’s $2.98 billion acquisition of properties from Vedanta Resources’ flagship firm.
JK Tyre & Industries
JK Tires & Industries has signed a membership and policy rights contract with International Financing Corporation in an effort to raise Rs 240 crore.
L-1 bidder GR Infraprojects won the opening of financial bids for two NHAI projects on February 20, 2023.
It will be HDFC Bank’s first bond issuance in USD in over a year and a half. The financial institution will soon launch a senior unsecured bond sale of benchmark size.
The DMRC (Delhi Metro Rail Corporation) headed SPV, which BEML has shortlisted to build Phase-1 of the Bahrain Metro Rail Project, has entered into an MOU (Memorandum of Understanding).
The state of Gujarat has approved plans for Asian Paints (Polymers), a subsidiary of the paint manufacturer, to construct a factory in Dahej to produce VAE (Vinyl Acetate Ethylene Emulsion) and VAM (Vinyl Acetate Monomer).