Shares of Reliance Industries (RIL) will be watched. RIL informed that the resolution plan submitted by Infrastructure Projects - a division of Reliance Projects & Property Management Services (formerly known as Reliance Digital Platform & Project Services), a wholly owned subsidiary of RIL, for the resolution of Reliance Infratel, under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, has been approved by the National Company Law Tribunal.
Shares of ONGC will be in spotlight. OVL, the wholly owned overseas arm of ONGC, on Friday announced that it has made a "significant" strike of oil in its onshore block CPO-5 in Llanos Basin in Colombia. This is the fourth commercial find in the block by OVL. ONGC Videsh (OVL) is the operator of the block with 70% stake while its partner Geopark holds the remaining 30%.
Tata Sons, promoter of Tata Chemicals, on Friday (4 December 2020) bought over 25 lakh shares of the company worth over Rs 121 crore via bulk deal. As per the bulk deal data on the NSE, Tata Sons acquired 25,71,651 shares (1.01% equity) of Tata Chemicals at an average price of Rs 471.88 each. On 2 December 2020, Tata Sons had purchased 18,07,245 shares (equivalent to 0.71% stake) of the company at an average price of Rs 420.92 per share.
Tata Power Company vide Letter of Intents (LOI) issued by The Odisha Electricity Regulatory Commission (OERC), the company has been selected as the successful bidder to own the licence for the distribution and retail supply of electricity in Odisha's 11 Circles (five circles, together constituting Western Electricity Supply Company Limited (WESCO) Utility and six circles, together constituting Southern Electricity Supply Company of Odisha (SOUTHCO) Utility.
Jagran Prakashan on Friday (4 December) said it allotted 600 units of commercial paper (CP) of Rs 5 lakh each, aggregating to Rs 30 crore, against earmarking of working capital. The CP was allotted to ICICI Prudential Ultra Short Term Fund (MIP5). It offers interest rate of 4.10% and will mature on 4 March 2021. The instrument is rated CRISIL A1+.
Shares of Tata Consumer Products will be in focus. Earth Rules, a step-down Australian subsidiary of Tata Consumer Products, has entered into an agreement to sell MAP Coffee business to Australia-based Buccheri Group. Buccheri Group is engaged in coffee manufacturing. Earth Rules will receive a total consideration of AUD 1.25 million (Rs 6.74 crore) in tranches by 28 February 2021, as per terms of the asset sale and purchase agreement dated 5 December 2020. The sale is expected to be completed by 7 December 2021.
Force Motors' total production dropped 20.15% to 1,426 units in November 2020 over November 2019. Domestic vehicle sales tanked 57.23% to 828 units in November 2020 compared with 1,936 units in November 2019. Total vehicle exports jumped 70.45% to 300 units in November 2020 as against 176 units in November 2019.
APL Apollo Tubes has set 16 December 2020 as the record date to ascertain the names of shareholders entitled for the proposed sub-division of shares. The company's shareholders have approved splitting each stock of face value Rs 10 each into 5 equity shares of face value of Rs 2 each (5-for-1).
HMT said that HMT Watches, Auxiliary Business Division of HMT, has now completed the setup of a watch assembly line and has also received the Industrial license.
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