10 March 2022 – Trading Activity & Stock Market Updates

Paytm

Vijay Shekhar Sharma-promoted Paytm Payments Bank is likely to apply to the Reserve Bank of India (RBI) for a small finance bank (SFB) licence by June, according to a report.

Bharti Airtel

The telecom operator has entered into an agreement to acquire a 9 percent equity stake in Avaada CleanTN Project, a special purpose vehicle. This SPV is formed for owning and operating the captive power plant.

PNB Housing Finance

The housing finance company has approved fundraising of up to Rs 2,500 crore through a rights issue.

Karnataka Bank

Karnataka Bank partners with SELCO Solar Light Pvt Ltd for financing solar-based livelihood products to its customers

SpiceJet

The Delhi Court has granted protection to SpiceJet CMD Ajay Singh from arrest in the shareholding dispute. The Delhi Court has directed Singh to join investigations by March 11

NTPC

The state-owned power generation company said 660 MW unit-3 of its subsidiary Nabinagar Power Generating Company has successfully completed trial operation. And consequently the same has been included in the installed capacity of NTPC Group. With this, the total installed capacity of Nabinagar Power Generating Company and NTPC group has become 1,980 MW and 68,567.18 MW, respectively.

Jindal Stainless (Hisar)

The company got certified with AS 9100D Certification, a Quality Management System for Aviation, Space, and Defence Organisations. The Certification validates the company’s competence to constantly meet highly stringent standards of the aerospace industry, and also enables Jindal Stainless (Hisar) to get listed in the Online Aerospace Supplier Information System database, which showcases the Company offerings to aerospace manufacturers.

Biocon

CRISIL has placed its ‘AA+’ rating on the long-term bank facilities of the company on ‘Watch with Developing Implications’, after the acquisition of biosimilar assets of US-based Viatris Inc by its subsidiary Biocon Biologics for $3.33 billion. The rating on the short term bank facilities has been reaffirmed at ‘A1+’.

Gufic Biosciences

The company entered the cancer immunology segment by undertaking research collaboration with Australia-based biotechnology company Selvax Pty Ltd.

Arvind

The company said its operations have fully resumed at the Ankur unit. Operations at the Ankur unit had been disrupted due to disconnection of the effluent discharge connection. As a result, its revenue and EBIDTA have been reduced by approximately Rs 40 crore and Rs 10 crore respectively. The unit had contributed 5 percent of the consolidated revenue and 6 percent of the consolidated EBIDTA of the company for FY21.

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