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TOP CORPORATE NEWS – 29 NOV 2019

Corporate-News

CORPORATE NEWS

NTPC adds 250MW unit of Barauni Thermal Power Station to installed capacity.

NTPC adds 250MW unit of Barauni Thermal Power Station to installed capacityNTPC Ltd. informed the exchanges that a 250MW unit of Barauni Thermal Power Station has been added to the installed apacity of NTPC on successful completion of trial operation. With this, the total installed capacity of NTPC and NTPC group has become 48,895MW and 57,356MW, respectively.

Bharti Airtel, RCom gain on former submitting bid to buy RCom assets.

Bharti Airtel has submitted bids ~Rs9,500cr for debt-ridden Reliance Communications’ telecom assets, including spectrum, mobile towers and optical fibre, according to PTI. Post the news, RCom shares hit the 5% upper circuit. Bharti Airtel is trading higher by 2%.
Along with Bharti Airtel, VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Limited have also submitted their bids. While Reliance Jio asked for more time to submit bids, the company did not turn up after the CoC extended the deadline. I Squared Capital, which was expected to buy RCom’s data centre and optical fibre, also did not submit bids.

Muthoot Capital rises 2% on raising funds.

Muthoot Capital Services Limited completed a securitization transaction of Rs82.97cr on November 27, 2019. With this transaction, the xompany has so far raised total funds of 374.23 crores through securitization/direct assignment transactions during the FY20. The entire pool is from the non-priority sector and has been taken after considering the guidelines prescribed by the Reserve Bank of India in this regard.

Rajesh Exports bags export order worth Rs863cr.

Rajesh Exports Ltd has bagged another prestigious order worth Rs863cr of designer range of gold jewellery from Germany. The said order is to be completed by February 28, 2020. Company will be executing the order from its own manufacturing facilities, which are the world’s largest gold manufacturing facilities. These facilities have processing capacity of 250 tons of jewellery and gold products per annum. Company is confident of executing this order well within the time frame on the back of its expertise, skilled craftsmen, artisans & its exceptionally strong backward integrated infrastructure.

Adani group stocks gain; Adani Ports up 3%.

Shares of Adani group soared in an otherwise weak market. Shares of Adani Gas, Adani Transmission, Adani Power, Adani Green Energy, Adani Enterprises and Adani Ports and Special Economic Zone were up in the range of 3-9% on the back of the heavy volume.
Adani Gas stock jumped 9% on the BSE after the media report said that the Competition Commission said it has given approval to the acquisition of 37.4% shareholding and joint control by Total Group in Adani Gas.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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