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Wipro in focus
Shares of Wipro Ltd will remain in focus, as it bagged a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings.
Wipro will develop new features, capabilities and interfaces for Verifone's Cloud Services offerings, enabling seamless and flexible transaction processing for the company. Leveraging its global engineering support team, Wipro will accelerate time-to-market for Verifone assisting it to transform its customer partnerships.
Shareholders will closely monitor the execution of the project and also the deal size, which is not known immediately.
Stake hike by Airtel may bode well Bharti Infratel
Nettle Infrastructure Investments Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd, has acquired an additional equity stake of about 4.94 per cent stake in Bharti Infratel on Wednesday for approximaely ₹2,882.32 crore.
With this acquisition, the aggregate shareholding by these firms stands increased to 41.66 per cent in Infratel.
Before this deal, Bharti Airtel and Nettle held an equity stake of 23.04 per cent and 13.69 per cent respectively in Bharti lnfratel.
Fundraising plans may boost Alicon Castalloy
The board of directors of Alicon Castalloy has given its nod to raise funds up to ₹100 crore by issue of further equity capital by way of a qualified institutions placement (QIP), in one or more tranches, which will be issued to qualified institutional buyers. For this purpose, the board has convened an Extra-Ordinary General Meeting (EGM) of the shareholders of the Company on December 30 for seeking their necessary approvals.
Further, the Board of Directors took note of the proposal that equity shares may be issued to promoters, foreign collaborators, HNIs and other investors on a preferential basis at a later stage.
Pricol's ₹81-crore rights issue opens today
The ₹81.25-crore rights issue of Pricol Ltd will open for subscription on Thursday and end on December 17. The company will issue about 2.71 crore rights equity shares, for an amount aggregating up to ₹81.25 crore.
The issue price has been fixed as Rs. 30 a share and the entitlement ratio as two rights equity shares for every seven held by eligible equity shareholders of the company as on the record date, which November 25.
Analysts will closely track the response to the issue.
Environment clearance for Godawari Power
The Ministry of Environment, Forest and Climate Change (Impact Assessment Division), Government of India, has accorded its environmental clearance to Godawari Power and Ispat Ltd for expansion and modernisation of existing manufacturing facilities along with the integration of existing environmental approvals at exiting plant location at Sitara Industrial Area, Raipur.
Accordingly, the steel billets capacity will be increased from the 4 lakh tonne per annum to 7 lakh; H.B. Wire from one lakh ltpa to 2 lakh; iron ore benefication plant from 10 lakh tpa to 32.84 lakh; and iron ore pelletisation plant from 21 lakh ltpa to 24 lakh.
Based on the above approval of the Central Government, the company will apply to the State Government for according its 'Consent to Establishment' for Steel Billet, H.B. Wire and Iron Ore Beneficiation Plant and 'Consent to Operate' for the enhanced capacity in Iron Ore Pelletisation plant. The Iron ore Pellet capacity is already in place. However, the production of enhanced capacity in Pellet plant shall start after receipt of Consent to Operate.
Shareholders will closely monitor further development.
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