Zee Entertainment Enterprises: The National Company Law Appellate Tribunal (NCLAT) has granted a stay on the NCLT order with respect to IBC proceedings initiated against Zee. Accordingly, Zee will move out of IBC framework, and the corresponding surveillance actions on the company will be reverted. Further, F&O contracts with May 2023 expiry for Zee will be available for trading with effect from February 28.
2/11
Tata Steel: The steel major has received approval from Committee of Directors for allotment of 2.15 lakh non-convertible debentures, with 8.03% fixed coupon rate, having face value Rs 1 lakh, amounting to Rs 2,150 crore, for a tenor of 5 years, to identified investors on private placement basis. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of the BSE.
3/11
SJVN: Rajeev Sharma to be part time official director of SJVN. Rajeev Sharma is appointment as the nominee director of Government of Himachal Pradesh on the board of SJVN. He is presently heading the MPP and Power, Non-Conventional Energy Sources, Ayush, Printing and Stationery and Youth Services and Sports departments in the Himachal Pradesh government. He is also serving as a nominee director in the Himachal Pradesh State Electricity Board.
4/11
Infosys: The IT services company announced the roll-out of private 5G-as-a-Service to accelerate business value for its enterprise clients worldwide. The private 5G-as-a-service delivers a simple and flexible pay-as-you-go solution for clients. Infosys’ wireless 5G expertise and its private network management solution ensure high bandwidth, low latency, and reliable wireless connectivity for enterprises.
Sterlite Technologies: The company has signed a business transfer agreement to transfer its digital business undertaking to its subsidiary STL Digital, as a going concern on a slump sale basis. The sale transaction cost is Rs 15 crore, subject to working capital adjustments.
6/11
Bharat Dynamics: The Ministry of Defence has appointed Jaswant Lal Sonkar as non-official independent director on the board of company w.e.f from February 24. He will be a director for a period for three years.
7/11
Mahindra Logistics: Yogesh Patel has resigned as Chief Financial Officer of the company, to pursue his professional interests outside the Mahindra group. Yogesh Patel will be relieved of his duties on March 10 this year.
8/11
NHPC: The Cabinet Committee on Economic Affairs has given its approval for incurring expenditure on pre-investment activities and various clearances for Dibang multipurpose project (MPP), in Arunachal Pradesh for Rs 1,600 crore. The project is being developed by NHPC and the estimated total cost of project is Rs 28,080.35 crore including IDC & FC of Rs 3,974.95 crore at June 2018 price level. The estimated completion period for the project will be nine years from receipt of Government sanction. This is the largest ever hydro electric projects to be constructed in India.
Mastek: The IT services company has signed a strategic partnership with Netail, to help e-commerce and omni-channel retailers optimize their retail value-chain and thereby attract, convert, and retain digital consumers.
10/11
Filatex Fashions: Filatex on March 2 is going to consider to explore the option of acquisition of a company in the same sector or otherwise in order to achieve inorganic growth.
11/11
GIC Housing Finance: The housing finance company has received board approval for allotment of 32,500 non-convertible debentures (NCDs) with 8.7% per annum interest, having a face value of Rs 1 lakh each, amounting to Rs 325 crore on Private placement basis. The NCDs are proposed to be listed on BSE.
