Tata Steel, Vedanta, Adani Enterprises, LIC and others
Nifty futures on the Singapore Stock Exchange traded 45.5 points, or 0.29%, at 15,869, signaling Dalal Street was heading for a positive start on Tuesday. The market started the week on a positive note, with benchmarks up more than half a percent in the previous session, supported by banking and financials and FMCG stocks. The BSE Sensex climbed 327 points to 53,235, while the Nifty50 rose 83 points to 15,835.
Kirloskar Ferrous Industries
The company has completed the upgrade of its Mini Blast Furnace II (MBF-11) at the Koppal plant in Karnataka. MBF-11 operations resumed from 4 July. After the upgrade, the pig iron manufacturing capacity of MBF-11 increased from 1,80,000 metric tons per year to 2,17,600 metric tons per year and hence the company’s total manufacturing capacity of pig iron crude increased to 6.09 lakh metric ton per year.
The company, in its ESB filing, said its FY23 first-quarter alumina production at the Lanjigarh refinery rose slightly year-on-year to 4.85 lakh tonnes, up 1% year-on-year. due to scheduled maintenance in April 2022. Cast aluminum production at foundries increased 3% year-on-year to 5.65 million tonnes. Mined metals production increased 14% year-on-year to 2.52 lakh tonnes due to higher ore production at all mines and supported by improved mill recovery. Total salable production was 2.68,523 tonnes, down 7% year-on-year due to debottlenecking activities in Blast Furnace 3 and the firing of Blast Furnace 2. Overall sales of electricity increased by 32% year-on-year to reach 3,577 million units.
HDFC Bank, HDFC
The biggest private lender said it had received the green light from banking regulator RBI for its parent company HDFC’s proposed merger with itself. Billed as the biggest deal in Indian corporate history, HDFC Bank agreed on April 4 to take over the nation’s largest mortgage lender in a deal valued at around $40 billion, creating a services titan. financial.
life insurance company of india
State-owned insurance giant LIC will invest Rs 80.67 crore in the rights issue project of its joint venture LIC (Nepal). The proposal was approved at the insurer’s board meeting on Monday. LIC will hold its first Annual General Meeting on September 27, 2022.
NMDC, MMTC, Tata Steel
Tata Steel has completed the acquisition of a 93.71% stake in Neelachal Ispat Nigam (NINL) through its indented subsidiary, Tata Steel Long Products. The transaction cost is Rs 12,100 crore. NMDC successfully sold its 10.10% stake and MMTC transferred its 49.78% stake in NINL to Tata Steel Long Products.
Promoters Prasanna Sai Raghuveer Kandula and Fortuna Engi Tech and Structurals (India) have offered to sell 48.91 lakh shares or a 15% stake through a July 5-6 put offer. The floor price of the sale will be Rs 75 per share.
The company said the board will hold a meeting on July 8 to consider the share buyback proposal.
Kotak Mahindra Bank
The Reserve Bank of India has imposed a penalty of Rs 1.05 crore on Kotak Mahindra Bank for failing to meet certain standards.
The Reserve Bank of India imposed a penalty of Rs 1 crore on IndusInd Bank for failure to comply.
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