Stocks in the news
Jio Financial Services: Jio Financial Services (formerly known as Reliance Strategic Investments), the demerged entity of billionaire Mukesh Ambani-led Reliance Industries, will be listed on the exchanges, on August 21. The exchanges in their circular said the scrip would be in Trade-for-Trade segment for 10 trading days. Meanwhile, Jio Financial Services will continue to remain in FTSE Indices, and will be added to MSCI Global Standard Index on August 23.
NMDC: The Government of India has extended the tenure of appointment of Amitava Mukherjee as Director (Finance) on the NMDC board with effect from November 20, 2023, till February 29, 2028. Mukherjee was appointed as Director (Finance) on the board for five years with effect from November 11, 2018 or till the date of his superannuation or until further orders, whichever is earliest.
KEC International: The RPG Group company has secured new orders worth Rs 1,007 crore across its various businesses. The civil business has secured its first order for design, engineering, procurement and construction of a multi-speciality hospital in India, while transmission & distribution business has secured a substantial order for a 380 kV overhead transmission line project in the Middle East.
Tanla Platforms: The company, which provides value-added services in the cloud communications space, had entered into a term sheet with Vodafone Idea for provision of platform and firewall services for international A2P services in November 2021, which was valid for a term of 2 years. This partnership will not continue beyond the initial term, said the company, adding this would have a revenue impact of Rs 17 crore and PAT impact of Rs 9 crore on a full-quarter basis post November 2023.
GMR Airports Infrastructure: The company said passenger traffic in July increased by 30 percent YoY to 98.6 lakh, but was flat compared to previous month, while aircraft movements rose by 17 percent on-year and 3 percent on month-on-month basis, to 64,809.
CreditAccess Grameen: The microfinance company said its executive borrowing & investment committee has approved the fund raising up to Rs 1,000 crore via public issue of non-convertible debentures of face value of Rs 1000 each. The fund raising of NCDs has a base issue of Rs 400 crore and a green shoe option of up to Rs 600 crore.
Mahindra & Mahindra: The SUV manufacturer has announced proactive inspection of select XUV products.
By: via Telegram.me/AlliesFin #StockMarket #india
