NEW DELHI: Here is the list of the 10 main actions that could be in the spotlight on Wednesday:
Trusted industries: Major Petchem has formed a $ 2 billion partnership with Abu Dhabi Chemicals Derivatives Company RSC Ltd (Ta’ziz) for chemical production. The joint venture will build and operate a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility, with an investment of more than $ 2 billion.
Larsen & Toubro: Signed an initial agreement with Saudi Aramco to develop manufacturing capacities in Saudi Arabia. As part of the plan, Larsen will build the region’s first heavy-wall pressure vessel installation in the industrial town of Jubail in the Kingdom.
Hindustan zinc: announced an interim dividend totaling $ 1 billion, or ??7,605.57 crore, for its shareholders. The board of directors of the company has approved a dividend of ??18 per share, which implies a dividend yield of 5.09% from its closing price on December 7. Parent Vedanta Ltd which holds a 64.92% stake is expected to obtain nearly ??4,937.68 crore in dividends.
Nykaa: The one-month blocking period for key investors in FSN Commerce Ventures, which operates Nykaa, will expire on Wednesday. by Nykaa ??The 5,350 crore IPO was underwritten 82 times, with around 21.3 million shares sold to key investors. The share price had nearly doubled at the start of the stock market, listed at ??2,018, a premium of 79% on the issue price of ??1,125, propelling its market value to more than ??1 trillion.
SpiceJet Ltd: Said he hoped for a favorable outcome to his proposed appeal against a liquidation petition ordered by the Madras High Court. The HC had ordered the liquidation of the airline on a petition filed by Credit Suisse regarding unpaid dues of $ 24 million. He had also appointed an official liquidator to take over the assets of the airline. The order was then stayed for three weeks following a plea from the airline and on the condition that it file $ 5 million in court within two weeks.
Telecom actions: The Telecommunications Regulatory Authority of India has ordered telecom operators to immediately allow the facility to send a 1900 text message or SMS shortcode, which is used for porting from one operator to another . He said the service that allows requesting a unique porting code must be made effective for all subscribers, prepaid and postpaid, regardless of the fare value of the offer or voucher.
Trust capital: A day after NCLT admitted the Reserve Bank of India’s petition for Reliance Capital’s insolvency resolution, the central bank said on Tuesday it had retained the three-member advisory board to help the new director of the NBFC in crisis.
Vodafone Idea: partnered with a communications service provider Tanla Platforms to encrypt all international mail traffic on the Vi network, that is, messages originating outside India and ending in India. The partnership will be hosted on a cloud platform called Wisely and is expected to help the telecom company deepen the global enterprise market.
NestlÃ© India: The Center approved the company’s proposal for its Production Incentive Program (PLI) for processed fruits and vegetables. He had submitted his proposal for the food processing sector in the eligible categories i.e. ready-to-eat / ready-to-cook and processed fruits and vegetables in June.
NHPC: Approved securitization monetization through a Return on Equity (RoE) bidding process of Chamera-I plant (3 X 180 MW), Himachal Pradesh, and further monetize the RoE of one or more power plants for 05/10/15 years at once or by rotation.
Never miss a story! Stay connected and informed with Mint. Download our app now !!