The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 17,486.50, down 33 points or 0.19% from the previous close.
The Board of Hindustan Aeronautics will meet on March 10 to consider and approve a second interim dividend for the financial year 2022-23. In other news, the union cabinet has approved the procurement of 70 HIT-40 basic trainer aircraft from HAL for the Indian Air Force for Rs 6,800 crore.
Rail Vikas Nigam
Rail Vikas Nigam Ltd (RVNL) emerged as the lowest bidder for manufacturing and maintenance of Vande Bharat trainsets including upgradation of the government manufacturing units & trainset depots in JV with partners.
Acquired shares worth Rs 74 crore in TRF, a listed associate company of Tata Steel. TRF is engaged in the business of designing and manufacturing of bulk material handling systems and equipment for core sector industries such as power, ports, steel, mining, and cement for projects undertaken on Turnkey basis. Additionally, Tata Steel is the promoter company for TRF.
Adani Agri Logistics, a step down subsidiary of Adani Ports, has incorporated a wholly owned subsidiary named HM Agri Logistics. HM Agri will develop and operate state-of-the-art silo complex at various locations across India.
Mindspace Business Parks REIT
CRISIL Ratings Limited has reaffirmed the credit rating for non-convertible debentures, Market linked debentures and corporate credit rating of Mindspace Business Parks REIT at AAA, while the company’s commercial papers are rated A1+.
Raj Oil Mills
The last date for receipt of applications in the ongoing “Rights Issue” has been extended from 13 March, 2023 to 21 March, 2023. The rights issue is for equity shares with the face value of Rs 10 each, for an amount of Rs 1.50 crore with an option to retain oversubscription up to Rs 44.97 crore.
Leased out approx. 2 lakh square feet of built-up area of its premium commercial building Sunteck BKC51 to Upgrad Education for a lease term of 29 years. The total revenue generated from the project will amount close to Rs 2,000 crore over the entire lease tenure.
Hero MotoCorp sold 394,460 units of motorcycles and scooters in February 2023. This translates into a double-digit growth of 10% on-year when the company had sold 358,254 units.
The car major reported a decline in production of passenger cars and light commercial vehicles of 6% on-year. The total production in February was 159,873 units. The current shortage of electronic components may have an impact on the production print in February as compared to recent months.
SEBI granted the company approval for a mutual fund license. Bajaj Finserv Asset Management has also been accorded an approval to act as an asset management company for Bajaj Finserv Mutual Fund.
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