Stocks

Stocks that will see action on April 28

BL Mumbai Bureau | Updated on: Apr 28, 2022

Buzzing stocks: Reliance Industries, ONGC, Adani Enterprises, Tata Consumer, PB Fintech, Escorts, SKP Securities, Banas Finance, BLS International Services, Kohinoor Foods, Novartis

Reliance and Viacom18 have announced a strategic partnership with Bodhi Tree Systems, which is a platform of James Murdoch’s Lupa Systems and Uday Shankar. Bodhi Tree Systems, along with a consortium of investors will put ₹13,500 crore in the Mukesh Ambani-backed Viacom18.

Under the deal, Reliance Projects & Property Management Services Limited, a wholly-owned subsidiary of Reliance Industries which has significant presence in television, OTT, distribution, content creation, and production services, will invest ₹1,645 crore. In addition, JioCinema OTT app will be transferred to Viacom18. 

Oil and Natural Gas Corporation Limited (ONGC) has signed a Memorandum of Understanding (MoU) with Equinor ASA, the Norwegian state-owned multinational energy company. The MoU was inked on April 26, 2022 in for collaboration and partnership in areas of upstream Exploration & Production, midstream, downstream and Clean energy options, including Carbon Capture Utilization & Sequestration (CCUS).

Adani Enterprises has incorporated two wholly-owned subsidiaries. It has incorporated a WOS namely, AMG Media Networks Limited on April 26, 2022, with an initial authorized and paid-up share capital of ₹1,00,000 each to carry on the business of media-related activities, including inter alia the publishing, advertising, broadcasting, distributing etc. of content over different types of media networks. AMG Media Networks Limited will commence its business operations in due course, the company informed the exchanges. It has incorporated a WOS namely, Puri Natural Resources  Limited (“PNRL”), on April 27, 2022, with an authorized and paid-up share capital of ₹10,00,000 each to carry on manufacturing and processing of minerals, TiO2 Slag manufacturing, pigment manufacturing etc. and to do all necessary and incidental activities in this regard. PNRL will commence its business operations in due course, it said.

PB Fintech Limited made further investment of ₹450 crore in Policybazaar Insurance Brokers Private Limited, a wholly owned subsidiary of the company, With this further investment, the company has completed the entire ₹700 crore investment as approved by the Board earlier. The present investment will allow the cmpany to strengthen the financial health of the wholly-owned subsidiary to meet its general operating expenses and enhancing brand awareness, officepresence and strategic initiatives, it said

. Life Insurance Corporation of India has raised its stake in Tata Consumer to 5.008 per cent, up from 4.993 per cent, purchasing 1.36 lakh equity shares in the company via open market transactions on April 26. 

Escorts Ltd has informed the exchanges that CRISIL Ratings Limited has upgraded its long-term rating by one notch from “AA” to “AA+” with revision in outlook from “watch with Positive implications” to “Stable”. CRISIL has also reaffirmed its short term rating to “ A1+.

The Board of Directors of SKP Securities on Saturday, April 30, 2022 in a meeting will also consider the proposal for Bonus Issue of equity shares.

The Board of Directors of Banas Finance Ltd have approved the change of objects for raising of funds through Right Issue for an aggregate amount of up to ₹4980,00,000 as approved on December 24,2021 by including the object of investment in associate company along objects of working capital and other corporate purposes. The company will accordingly make a revised application to BSE Limited For in-principle approval, it said.

BLS International Services Ltd has fixed Tuesday, May 17, 2022 as the record date for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the company in the proportion of one equity share of ₹1 each for every one exiting equity share of ₹1 each, subject to the approval of shareholders of the company on issue of bonus shares in the ensuing EGM to be held on Monday, May 9, 2022.

The Board of Kohinoor Foods has considered and approved the proposal of raising of funds by rights issue for an aggregate amount od ₹49.5 crore.

The Board of Directors of the Novartis has approved the appointment of Shilpa Joshi as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from May 1, 2022

Results calendar: Axis Bank, Bajaj Finserv, SBI Life Insurance Company,  IIFL Finance,  Motilal Oswal Financial Services, PNB Housing Finance, Biocon, Ambuja Cements, Vedanta, Agro Tech Foods, Coromandel International, IndiaMART InterMESH, Laurus Labs,Mphasis, Procter & Gamble Hygiene & Health Care, Shoppers Stop, Shriram Transport Finance, Sterlite Technologies, Varun Beverages, Embassy Office Parks REIT and Fineotex Chemical.

Published on April 28, 2022
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