Stocks

Stocks that will see action today (Dec 8)

K. S. Badri Narayanan | | Updated on: Dec 08, 2021
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Buzzing stocks: RIL, JSPL, Hindustan Zinc, Brightcom, SpiceJet, KPI Global, Praj, NHPC

Reliance Industries : Abu Dhabi Chemicals Derivatives Company RSC Ltd and Reliance Industries Limited have agreed to launch ‘TA’ZIZ EDC & PVC’, a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The new joint-venture will construct and operate a chlor-alkali, ethylene dichloride and polyvinyl chloride production facility, with an investment of more than $2 billion. Representing the first production of these chemicals in the UAE, the project will enable the substitution of imports and the creation of new local value chains, while also meeting growing demand for these chemicals globally. The TA’ZIZ Industrial Chemicals Zone is a joint venture between Abu Dhabi National Oil Company (ADNOC) and ADQ.

Jindal Steel and Power Ltd (JSPL) continues to post robust production growth in November 2021. Steel production increased by 10 per cent y-o-y to 6.74 lakh tonnes as compared to 6.14 lakh tonnes in the previous year. However, JSPL’s November steel sales were lower by 5 per cent y-o-y at 5.39 lakh tonnes due to non-availability of Indian Railway rakes on demand.

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Hindustan Zinc : The board of Hindustan Zinc approved an interim dividend of ₹18 a share. The record date for purpose of determining the eligibility for payment of the interim dividend is December 15. The interim dividend will be paid within stipulated timelines as prescribed under law, it added.

Brightcom Group has announced the signing of a definitive share purchase agreement to acquire 100 per cent of Vuchi Media Private Limited, operating under the brand name of MediaMint for ₹566 crore. MediaMint is an end-to-end digital consulting and digital operations provider specialising in ad operations, campaign management, creative services, data analytics, platform support, dev ops, and more.

KPI Global Infrastructure Ltd has received confirmation of the orders for executing solar power project of 2.70 MWdc capacity from below mentioned clients under ‘Captive Power Producer (CPP)’ Segment of the company: Priyanshi Creations Private Limited - 1.20 MWdc; and Veekay Prints Private Limited - 1.50 MWdc.

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Praj Industries has announced an innovative solution to process sugarcane juice into a new sustainable feedstock BIOSYRUP® for round-the-year ethanol production. Sugarcane juice is a perishable and seasonal feedstock that cannot be stored for more than 24 hours. Praj has developed a patented technology to process cane juice into conditioned Biosyrup that has storability of up to 12 months. This facilitates sugar mills to produce ethanol beyond sugar season, thus helping increase production capacity and maximise revenue.

Indian Oil : Noida International Airport has awarded Indian Oil Skytanking Ltd (IOSL) a 30-year concession to design, build, and operate fuel infrastructure, including multi-user fuel farm and hydrant system, for the airport. This partnership will help NIA provide aviation turbine fuel cost-efficiently and under an open access model to its airline partners. Under this agreement, IOSL will build facilities that will include 10,000 m3 of fuel-storage tanks with an inbuilt flexibility to increase the capacity rapidly as per air traffic demand and supported by an underground hydrant system connecting all aircraft stands, remote and contact, with fuel pipelines, thereby enhancing safety of the airside.

The board of NHPC approved the proposal for monetisation by securitisation through bidding process of return on equity of Chamera-1 Power Station (3 X 180 MW), Himachal Pradesh, and further to monetise the RoE of one or more power stations for 5/10/15 years in one go or roll over.

SpiceJet : The Madras High Court has ordered winding up of the airline on grounds that it failed to clear debt owed to Credit Suisse AG. The order by the single-judge bench of Justice R Subramanian directed the official liquidator to take over the assets of the airline for liquidation but granted a three-week stay at the request of the company to appeal against the order.

Gulshan Polyols Ltd has given its acceptance on ‘Letter of Intent’ received by the company for the purpose of signing of long term offtake agreement with upcoming dedicated ethanol deficit States for supply of indigenous denatured anhydrous ethanol to oil marketing companies (OMCs) to meet ethanol requirements for 20 per cent blending by year 2025 by setting up a plant at Chhindwara, Madhya Pradesh, using corn/maize and rice combination.

California Software Company Limited has announced that it has signed an MoU to acquire a majority stake in Pratsware Technologies Pvt Ltd, which owns botbaba — a WhatsApp Chatbot Platform. This acquisition will make Calsoft a global leader in the sphere of e-commerce and point of sale (PoS) solutions. This acquisition will make Pratsware Calsoft’s subsidiary.

Polyplex Corporation Ltd has announced that a 10.6-metre BOPP Film Line with a capacity of 60K TPA, by PT Polyplex Films Indonesia, a wholly-owned subsidiary of Polyplex (Thailand) Public Company Limited (PTL), Thailand, (51 per cent subsidiary of the company) commenced operations on December 7.

Rajshree Sugars and Chemicals Ltd had entered into a Master ‘Framework Restructuring Agreement’ (FRA) with six lender banks (State Bank of India, Bank of India, ICICI Bank Limited, UCO Bank, Axis Bank Limited and Federal Bank Limited) on July 12, 2021, for restructuring the debt of the company. The company has complied with all the Conditions precedent (CP) for implementation of the approved debt restructuring plan as set out in the FRA.

Published on December 08, 2021

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