The Nifty futures contract traded on the Singapore Exchange indicates a positive/negative start to domestic equities. The contract was trading at 17,140, up 117.5 points or 0.69% from the previous close.
Adani Enterprises, Adani Power, Adani Wilmar
The embattled Adani group shares will exit the NSE’s short-term additional surveillance measure after eight days. The margins on these securities will be resorted prior to ASM on all derivative contracts.
TCS
TCS Managing Director and CEO Rajesh Gopinathan has resigned his post “to pursue other interests”, and will step down on 15 September 2023. K Krithivasan has been appointed as the Chief Executive Officer Designate of Tata Consultancy Services, with immediate effect – he will take over as the Managing Director and CEO in the next financial year.
Zee
Zee Entertainment Enterprises is said to have agreed to clear the dues of IndusInd Bank, following which the private lender would withdraw the insolvency proceedings initiated against the media firm.
Mahindra & Mahindra
Mahindra Consulting Engineers, a subsidiary focused on engineering consulting services in the thrust areas of infrastructure, has been sold to Artelia. M&M’s stake of 60.88% of 11,51,000 equity shares was sold in one or more tranches at a price of Rs 89.66 per share for an aggregate consideration of Rs 10.3 crore. Consequently, Mahindra Namaste, a wholly owned subsidiary of MCEL, has also ceased to be a subsidiary of M&M.
Adani Transmission
The transmission company incorporated a new subsidiary, Adani Electricity Aurangabad, for applying for a parallel distribution license in the Aurangabad area.
Steel Authority of India
SAIL’s board of directors approved the dividend of Rs 1, amounting to 10%, on equity shares with face value of Rs 10 each. The record date is 24 March.
Samvardhan Motherson
Japanese Promoter company Sumitomo Wiring Systems has sold nearly 5% stake in Samvardhana Motherson International Ltd through a block deal on Thursday.
NTPC
Malaysia’s Petronas has offered Rs 3,800 crore ($460 million) to buy a 20% stake in the green energy arm of India’s largest power producer, NTPC, in the first deal of its kind by a state-run firm, Reuters reported.
Rail Vikas Nigam
Rail Vikas Nigam Limited emerged as the lowest bidder for the 11 KV line project worth Rs 111.85 crore.
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