As per media reports, the National Company Law Tribunal (NCLT) admitted the RBI's petition to initiate insolvency proceedings against mortgage player DHFL, making it the first financial services firm to be resolved through the bankruptcy code.
RBL Bank has opened its QIP. The board will meet on or after December 5 to consider the issue price. The floor price has been set at Rs352.57 each, a discount of 5.6% to Monday’s closing price.
Biocon and Mylan launched Trastuzumab biosimilar in the US The Food and Drug Administration approved product was unanimously recommended by the regulator’s Oncologic Drugs Advisory Committee, Biocon said in an exchange filing. The drug is used to treat breast and stomach cancers.
United Spirits board approved the merger of the company’s listed arm Pioneer Distilleries with self.
ONGC is planning to invest about Rs1.6 lakh cr and Oil India Rs1,758cr in domestic exploration and production in the next five years, as per media reports.
Crompton Greaves Consumer Electricals stock in focus as media reports said that the private equity firm Advent International and Singapore state investment company Temasek are offering to sell 4.485cr shares of the company.
Bank of Baroda is to consider raising capital funds through the issue of capital debt instruments on December 5.
Godrej Properties has acquired 20% issued and paid-up share capital of Yujya Developers Private Limited.
NMDC’s total November production was down 10.6% at 2.94 MT vs. 3.29 MT, while sales remained flat at 2.79 MT on a yoy basis.
Jaypee Infratech stock in focus as Yes Bank has filed a petition before NCLT Allahabad to initiate the corporate insolvency resolution process against Jaypee Healthcare Limited (a subsidiary of the company).
Aurobindo Pharma’s shareholders approved the merger of six arms of the company with self.
Tata Motors has won an order to supply over 2,300 buses to five state transportation companies. The company said that it is working to complete the order by February 2020, according to the media reports.
IDBI Trusteeship Services has invoked pledge of 7.33cr shares or 24.5% equity in Prime Focus. IDBI Trusteeship Services is the debenture trustee for Credit Suisse AG (Singapore). The capital was pledged by Reliance Mediaworks Financial Services. Pledge was invoked on Nov. 28.
Dr. Reddy’s Lab in focus as NCLT has said that unsecured creditors meeting is to be held on Jan. 2 for considering amalgamation of Dr. Reddy’s Holdings and the company.
IFCI said that it has received bids for the sale of its entire stake in NSE.
Kei Industries to consider raising funds via QIP on Dec. 5.
Gati to consider raising fund via a preferential issue on Dec. 5.
Reliance Capital stock in focus today. Vistra ITCL (India) Ltd., trustees for the debentures issued by the company, has filed Original Application, before the Debts Recovery Tribunal – Mumbai, towards the recovery of dues to the debenture holders.