Telecom stocks, Reliance Industries | Reliance Jio on Thursday, June 27, announced a tariff hike ranging from 12% to 25% on its prepaid and postpaid plans — the first increase in prices in two and a half years. The new plans will come into effect from July 3. The announcement comes a day after Jio acquired 14.4 MHz of spectrum in the 1800 MHz band, amounting to ₹973 crore, in the just-concluded auction. Other major telecom players, Bharti Airtel and Vodafone Idea are also expected to raise their tariffs soon.
AU Small Finance Bank | The lender will raise funds up to ₹5,000 crore via QIP and other modes, to borrow/raise funds up to ₹6,000 crore by issue of debt instruments.
Ambuja Cements | Adani Group firm Ambuja Cements Ltd on Thursday (June 27) said its board of directors approved the merger with Adani Cementation Ltd (ACL) with the company.
Raymond | Shareholders of Raymond have approved the re-appointment of Gautam Hari Singhania as the Chairman and Managing Director of the company for a term of 5 years effective from July 1, 2024. Singhania was re-appointed with a majority voting in his favour at the company’s Annual General Meeting on Thursday.
UltraTech Cement | UltraTech Cement, India’s largest cement company, has announced that its board has approved the acquisition of a nearly 23% stake in India Cements, confirming a CNBC-TV18 newsbreak.
Companies with AGMs in focus | Listed firms such as Canara Bank, Glaxo Smith Kline Pharma, Wockhardt, Oberoi Realty, Shriram Finance Ltd, Kansai Nerolac, Havells, ICICI Prudential Life will be holding their annual general meetings on June 28, among others.
BHEL | State-owned engineering firm BHEL has bagged the Rs 13,300 crore order to set up a 1600 MW thermal power plant in Koderma in Jharkhand from Damodar Valley Corporation (DVC). DVC has finalised the tender for the engineering, procurement and construction (EPC) package of Koderma TPS (2X800MW) in Jharkhand, with Bharat Heavy Electricals Ltd (BHEL) for Rs 13,300 Crore on June 26, 2024, a power ministry statement said. With this investment, which would also have a substantial impact on the local economy and benefit people, the installed thermal generation capacity of DVC would go up to 8140 MW by 2030.
JSW Infrastructure | JSW Infrastructure on Thursday said it will acquire 70.37% shareholding in Navkar Corporation for around ₹1,012 crore, paving the way for its foray into the logistics industry. The company has entered into a share purchase agreement with certain promoters and members of the promoter group (sellers) of Navkar Corporation (Navkar) to acquire 10,59,19,675 equity shares, constituting 70.37% of Target’s total equity share capital, at a price of ₹95.61 per share, according to a filing by JSW Infrastructure.
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