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Stocks in news: Reliance Industries, Adani Green, HDFC Life, PNB and more

Stocks in news: Reliance Industries, Adani Green, HDFC Life, PNB and more

On September 2, the benchmark indices resumed their bull March after a single-session pause to close at record highs. Sensex ended 514 points higher at 57,852 and Nifty jumped 157 points to 17,234

Stocks in news: Reliance Industries, Adani Green, HDFC Life, PNB and more Stocks in news: Reliance Industries, Adani Green, HDFC Life, PNB and more

Indian benchmark indices are likely to open in the green today as SGX Nifty was trading 25 points higher at 17,284 amid positive global cues.

On September 2, the benchmark indices resumed their bull March after a single-session pause to close at record highs. Sensex ended 514 points higher at 57,852 and Nifty jumped 157 points to 17,234.

Here are the stocks that are likely to be in focus today.

Adani Green: Adani Green Energy Ltd. (AGEL) announced on Thursday that it has raised $750 million to fully fund equity needs for its under-construction pipeline. The fully-funded pipeline is on track to be the world's largest renewable energy platform by 2030, as per the firm.

In an official statement, Adani Green Energy said that it raised its maiden ListCo senior issuance of $750 million through a three-year issuance under 144A/Reg S format at a fixed coupon of 4.375 per cent. This was the first bond issuance by the ListCo, Adani Green Energy, following successful issuances by its subsidiaries RG1 and RG2 in 2019

Adani Green Energy has explained that the issuance was oversubscribed 4.7x times.

Reliance Industries: India's largest retailer Reliance Retail Ventures today said it has taken sole control of Just Dial Limited in accordance with the SEBI Regulations, with effect from September 1, 2021. The Just Dial deal will allow Reliance access to the 25-year-old listings company's merchant database.

As per earlier statements, Just Dial founder and CEO VSS Mani will continue to lead Just Dial as MD and CEO.

Jammu & Kashmir Bank: The lender's board has approved a proposal to raise up to ?2,000 crore through a mix of equity and debt.

HDFC Life: The company acquired 100% of the share capital of Exide Life Insurance Company Limited for a total consideration of Rs 6,687 crore.

PNB: The troubles at Jet Airways show no signs of dying down. It has been close to a year since the Kalrock Capital-Jalan consortium won the bid to acquire the financially challenged airline. That double whammy saw it cease operations in April 2019. Once the dominant player in Indian skies now had to confront a new reality of its planes being grounded and an uncertain future.

When the consortium stepped in, eyebrows were raised since they had no prior experience of the aviation industry. At each stage, there have been hiccups but perhaps none more serious than what has just transpired. One of the lenders, Punjab National Bank (PNB), according to media reports, has alleged gross irregularity in the conduct of the resolution professional. It has also sought a stay on the Kalrock-Jalan plan in this insolvency and bankruptcy code (IBC) case.

RailTel Corporation:  RailTel Corporation of India Ltd. has received a Contract from Directorate of Information Technology, Indian Air Force, Ministry of Defence for implementation of Secure OPS Network for value of Rs 299.95 crore. The work is to be executed over a period of 12 months.

 

Published on: Sep 03, 2021, 9:07 AM IST
Posted by: Tanya Aneja, Sep 03, 2021, 8:59 AM IST