Don’t miss the latest developments in business and finance.

NTPC will be watched after LIC raises stake

Image
Capital Market
Last Updated : Sep 01 2017 | 9:13 AM IST

NTPC disclosed after market hours yesterday, 31 August 2017, that Life Insurance Coporation of India (LIC) raised its stake in the company to 14.24% from 11.15% earlier. LIC purchased 3.089% stake in NTPC via the recently concluded offer for sale of shares. The two-day OFS opened for institutional investors on 29 August 2017, and retail investors got to bid on 30 August 2017. The government received bids for about 7% stake in NTPC, which will fetch over Rs 9000 crore to the exchequer.

ABB India said it will provide solar inverters to 750 railway stations in north India to reduce dependence on traditional sources of energy. Indian Railways, which runs one of the largest railway networks in the world, carries more than 8 billion passengers annually. The 750 stations are located in the busy northern Indian part of the network, one of the most used railway corridors in the world. ABB recently reached a milestone of 5 GW of solar inverters installed, supplying some 40% of India's solar power at approximately 13 GW. The announcement was made after market hours yesterday, 31 August 2017.

IRB Infrastructure Developers said its board approved sale of IRB Pathankot Amritsar Toll Road to IRB InvIT Fund for an enterprise value of Rs 1569 crore. The announcement was made after market hours yesterday, 31 August 2017.

Alembic Pharmaceuticals said that it received European Union Good Manufacturing Practice (EU GMP) Certificate for the audit conducted at the company's formulation facility at Panelav from 8 August 2017 to 10 August 2017. The announcement was made after market hours yesterday, 31 August 2017.

Shankara Building Products said it has started new processing facility in Secunderabad in the state of Telangana to capitalize on the growing requirements of the region through our network of Telangana state retail outlets. Further the company has relocated processing capacity from Surat in Gujarat to Chegunta in Hyderabad in the state of Andhra Pradesh. The relocation will ensure better utilization levels on back of increased availability of raw materials which was hampering production and sales in Surat. The announcement was made after market hours yesterday, 31 August 2017.

Shriram Transport Finance Company said that the allotment committee in its meeting held on 31 August 2017, allotted 2,000 non-convertible debentures (NCDs) aggregating to Rs 200 crore on private placement basis. The announcement was made after market hours yesterday, 31 August 2017.

Also Read

V-Guard Industries said it has acquired 74% equity shares of GUTS Electro-Mech vide Share Purchase and Subscription Agreement dated 31 August 2017. The total shareholding of the company in GUTS Electro-Mech, including the acquisition of shares made vide Share Purchase Agreement dated 21 August 2017 is 14.54 lakh equity shares of Rs 10 each and the same constitutes 74% of the paid-up share capital. The announcement was made after market hours yesterday, 31 August 2017.

Allahabad Bank announced reduction in marginal cost of funds based lending rate (MCLR) of the bank by 0.05% for various tenors with effect from 1 September 2017. The announcement was made after market hours yesterday, 31 August 2017.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Sep 01 2017 | 8:08 AM IST

Next Story