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Buzzing Stocks: HDFC Life, Tata Power, CRISIL, Coal India, SBI, Tech Mahindra, others in news.
HDFC Life Insurance Company: Karnataka Bank has entered into a strategic corporate tie-up with HDFC Life Insurance to offer life insurance products to its customers. This collaboration is set to deliver a host of benefits to customers seeking financial security and life protection.
Tata Power Company: Subsidiary Tata Power Renewable Energy (TPREL) has crossed the 1.4 GW capacity of group captive projects in the last seven months. This achievement is the result of the signing of power delivery agreements (PDAs) with various industries across segments. With these group captive projects, TPREL's overall renewables capacity as of October 2023 has reached 7,961 MW.
Coal India, Oil & Natural Gas Corporation, EID Parry (India), EPL, Gillette India, Gujarat Pipavav Port, National Peroxide, RMC Switchgears, Senco Gold, Sun TV Network, Talbros Engineering, and Tide Water Oil will trade ex-dividend with effect from November 21.
CRISIL Ratings has revised its outlook on the long-term debt instruments and bank facilities of IIFL Finance from stable to positive. The agency has also reaffirmed the long-term rating at ‘AA’ and the short-term rating at ‘A1+'.
Tech Mahindra: The IT services company, through its material subsidiary Tech Mahindra (Americas) Inc., entered into a collaboration deed with NEOM Tech and Digital Company (TONOMUS). Tech Mahindra will incorporate a wholly owned subsidiary (a joint venture company) to provide technology and digital services that support the cognitive foundation of cities and communities.
State Bank of India: The government has appointed Vinay M. Tonse as the managing director (MD) of the country's largest public sector lender, according to a CNBC-TV18 report. Currently, Vinay M. Tonse is the deputy managing director of SBI.
ABB India: ABB and Titagarh Rail Systems have formed a strategic partnership to supply propulsion systems for metro rolling stock projects in India. The partnership covers an agreement for Titagarh to purchase ABB propulsion systems, including traction converters, auxiliary converters, traction motors, and TCMS software. It also includes securing the manufacturing rights and production licence for traction motors, along with the complete transfer of the technology of the GoA 4 (driverless metro) TCMS software from ABB to Titagarh.
Oberoi Realty: Oberoi Realty has launched Forestville by Oberoi Realty, the first luxury residential project in Kolshet, Thane. Forestville, which spreads across 18 acres, will consist of five residential towers. The company has launched the first phase of this development, consisting of three towers.
KM Sugar Mills: The sugar manufacturing company said there was an accident in the factory at Masodha, Ayodhya, Uttar Pradesh, as a 15 MW cable caught fire. And one engineer died due to the fire. The cause of the accident is yet to be ascertained. The factory operations are temporarily closed.
RateGain Travel Technologies: The company that provides hospitality software has announced the closure of qualified institution placement (QIP) issues and approved the issue of 93.31 lakh equity shares at a price of Rs 643 per share, which is a discount of 4.97 percent to the floor price.
Kirloskar Electric Company: The company said the management has withdrawn the lockout at the company’s unit No. 15, situated at Bhudihal, Nelamangala taluk, Bengaluru Rural District, with effect from November 20. Further, the management has requested all workers through the labour union to report to work.
Vascon Engineers: The construction engineering company has received a Letter of Intent from Pimpri-Chinchwad Municipal Corporation for Rs 356.78 crore for the construction of a general hospital building for PCMC Hospital in Moshi, Pimpri-Chinchwad, Pune, Maharashtra.
HCKK Ventures: The software and services provider has announced the merger of Softlink Global, a global leader in logistics technology solutions, with HCKK, subject to market regulators approval. HCKK is acquiring Softlink at an approximate valuation of Rs 430 crore and will diversify and strengthen its portfolio in the technology sector.
