The Singapore Exchange’s Nifty futures traded 160.5 points, or 1.01 percent, lower at 15,681.50, indicating that Dalal Street will open on Wednesday with a gap-down. With support from the auto, metal, IT, several FMCG firms, and Reliance Industries, the market recovered in the final hour of trading to conclude with modest gains. Gains were constrained, meanwhile, as a result of sales in private banking and financial services. The market was also bolstered by encouraging global cues. The Nifty50 increased 18 points to 15,850, while the BSE Sensex increased 16 points to 53,177.
The company announced that the request to repurchase equity shares of the company up to Rs 120 crore at a price of up to Rs 1,700 per share has been authorized by the board. This would result in a maximum repurchase share size of 7.05 lakh equity shares, or 1.12% of paid-up equity.
N Chandrasekaran, chairman of Tata Steel, stated on Tuesday that after the acquisition is complete, the business will increase Neelachal Ispat Nigam Ltd’s operation to a rated capacity of 1.1 million tonnes per year within the next year.
The name of the company has changed to Patanjali Foods Ltd, according to the edible oil company Ruchi Soya Industries Ltd, effective June 24. Ruchi Soya was purchased by Baba Ramdev-led Patanjali Ayurved for Rs 4,350 crore through an insolvency process in 2019.
The business reported the timely completion of two projects with a combined outlay of Rs 20 crore. The capacity of the GVT Tile facility in Sikandrabad, Uttar Pradesh, has risen by 0.7 million square meters (MSM) annually, while the Dora plant in Gujarat has been converted from ceramic to vitrified flooring, with an added volume potential of about 1.2 MSM annually.
State Bank of India
The largest lender in the nation has agreed to invest Rs 4 crore in equity shares of NBFC account aggregator Perfios Account Aggregation Services Private Limited. RBI permission would be required for this investment. 9.54 percent of Perfios Account Aggregation Services will be owned by SBI.
Hazoor Multi Projects
The business has been given a work order by Nagpur Mumbai Super Communication Expressway Ltd to carry out change-of-scope work in package-11’s Ahmednagar district on an EPC basis for a cost of Rs 14.11 crore.
Jammu & Kashmir Bank
According to the bank, the board has approved raising Rs 500 crore in equity capital in one or more tranches as well as another Rs 1,500 crore through private placement debentures.
Godawari Power & Ispat
At a fair value of 78.96% of AFAL’s paid-up capital, the company purchased 37.79 lakh equity shares from Alok Ferro Alloys (AFAL). Only in Raipur, Chhattisgarh does AFAL conduct business in ferroalloys with captive power generation.
Shri Bajrang Alliance
The company has inked a contract with LULU Group International LLC, Abu Dhabi for the supply of GOELD frozen food items in Middle East Markets (UAE, KSA, etc.) and also through their Indian network. The first two lots’ purchase orders have arrived.