NHPC Limited inks promoter agreemetnt for Hydroelectic Power project
Posted On: 2021-04-14 07:17:58 (Time Zone: Arizona, USA)
NHPC Limited has announced that a Promoters Agreement has been signed on 13.04.2021 between the company, Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL) and Government of Union Territory of Jammu & Kashmir.
The Parties hereby decide and agree to jointly establish a Company under the name and style of Ratle Hydroelectric Power Corporation Limited upon the terms & conditions contained in Promoters Agreement, for implementation of Ratle hydroelectric project with installed capacity of 850 MW in the Chenab River Basin and any other Project which may be entrusted to the Company in the Union Territory of Jammu & Kashmir.
Vedanta Resources Limited s stake in Vedanta Ltd increases to 65.2% post open offer
Posted On: 2021-04-14 07:18:24 (Time Zone: Arizona, USA)
Vedanta Resources Limited has announced that 374,231,161 equity shares of Vedanta Limited have been validly tendered in the voluntary open offer. The acquisition of such equity shares will be completed, and consideration for such acquisition will be paid on or about 16th April 2021 in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Post this acquisition, Company s shareholding in Vedanta Limited will increase from current 55.1% to 65.2%.
Shares of Vedanta Limited was last trading in BSE at Rs.217.75 as compared to the previous close of Rs. 212.9. The total number of shares traded during the day was 326623 in over 2340 trades.
Australian court dismisses class action case against Advanta Seeds Pty Ltd., a subsidiary of UPL
Posted On: 2021-04-13 09:02:09 (Time Zone: Arizona, USA)
Advanta Seeds management can confirm that the Queensland Supreme Court has today ruled in favour of Advanta Seeds. We are pleased with the decision.
Our team has continued to work closely with growers in the interests of improved crop productivity and farm management.
Advanta Seeds began in Central Queensland almost 60 years ago and we re extremely proud of the contribution we ve made to crop farming across Australia.
We invest heavily in research and development and continue to pioneer industry-leading practices and new seed products. Perhaps our greatest achievement though is the partnerships we ve established with our growers.
Motherson Sumi Systems Ltd s rating outlook revised to Stable from Negative by Moody s
Posted On: 2021-04-13 09:02:35 (Time Zone: Arizona, USA)
Moody s Investors Service ( Moody s ) today, has revised the company s rating outlook to Stable from Negative while affirming the Ba1 corporate family rating to Motherson Sumi Systems.
The improved outlook with the affirmed rating reflects the sustainability of earnings and de-leveraging witnessed in the last two quarters despite growth challenges due to the global pandemic. The company s 3CX10 strategy has helped diversify revenue and customer dependence making the underlying business more resilient. In addition, the turnaround witnessed in the company s loss making green-field facilities have also contributed to the improvement in earnings in recent quarters.
Nifty reclaims 14500, but still not completely out of the woods : Angel Broking
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Market Wrap-up by Mr. Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking): Nifty started the day marginally positive and approached the level of 14450 in the first hour of the trade. This level coincided around the previous support which now was the immediate resistance. The index hesitated there and pared the gains before noon itself to sneak below 14300. The index consolidated for a while in a range and when it looked that the market was unable to sustain at higher level, the index once again made an attempt to surpass the morning highs. With the help of the Banking and Financial space, Nifty rallied sharply in last couple of hours and ended the day tad above 14500, marking gains of almost 200 points.