Trending Stocks: DHFL, Adani Green, GAIL and others in news today

DHFL

The Central Bureau of Investigation (CBI) has booked Dewan
Housing Finance Limited, its former CMD Kapil Wadhawan, director Dheeraj
Wadhawan, and others for bank fraud of Rs 34,615 crore, making it the biggest
such case investigated by the agency. The action follows a complaint from the
Union Bank of India (UBI), the leader of a 17-member bank consortium that had
extended credit facilities around Rs 42,871 crore between 2010 and 2018. The
bank has alleged that Kapil and Dheeraj Wadhawan in a criminal conspiracy with
other misrepresented and concealed facts, committed a criminal breach of trust
and abused public funds to cheat the consortium of around Rs 34,614 crore by
defaulting on loan repayments from May 2019 onwards.

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Adani Green Energy

Andhra Pradesh government has cleared pump storage projects
by Adani Green Energy with a total capacity of 3,700 MW, with an aim to boost
the green energy sector in the state. The project was cleared in the State
Investment Promotion Board (SIPB) review meeting on June 22. Chief Minister
Jagan Mohan Reddy has approved the proposal of investment worth Rs 15,740 crore
which is a part of the proposal total investment of Rs 60,000 crore by the
Adani group in Andhra Pradesh that was discussed during the World Economic
Forum (WEF) meeting at Davos. Adani Group has proposed pump storage projects in
four districts of the state.

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GAIL

GAIL (India) Limited, the country’s largest gas
transportation and marketing firm, announced plans to enter into distributed
Liquefied Natural Gas (LNG) production to take the fuel to users. GAIL will
liquefy or turn natural gas into a liquid at sub-zero temperature and transport
it in a truck to users. The company has placed an order for two small-scale
liquefaction skids capable of producing LNG on a pilot basis. The proprietary
technology-based mobile liquefaction skids will be used for liquefaction.

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Vodafone Idea

The telecom services provider said the board has approved
the raising of funds up to Rs 436.21 crore from promoter Euro Pacific on a
preferential basis. The board also approved the convening of an Extraordinary
General Meeting of the company on July 15 to seek shareholders’ approval for
the said preferential issue.

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Bajaj Auto

In an exchange filing, the automaker said that the board of
directors will meet on June 27 to further deliberate on the proposal for the
buyback of equity shares of the company.

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Allsec Technologies

Business process outsourcing firm Allsec Technologies will
merge with technology-enabled staffing and outsourcing services company Quess
Corp in an all-stock deal, the companies said in a joint statement. Upon the
deal becoming effective, all the subsidiaries of Allsec will become
subsidiaries of Quess. Public shareholders will get 74 shares of Quess for every
100 shares held in Allsec.

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DCB Bank

The private sector bank has appointed Satish Gundewar as
its Chief Financial Officer (CFO) and Key Managerial Personnel, after the
retirement of Bharat Laxmidas Sampat from the said position.

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Imagicaaworld Entertainment

The company has successfully concluded its debt resolution
and inducted new promoters on the board of directors. The board has approved
the allotment of equity shares and 0.01% redeemable non-convertible preference
shares on a preferential basis under the resolution plan agreed by the lenders
under the RBI Prudential Framework.

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IRB Infrastructure Developers

The Company received 75% of the arbitration award of Rs 419
crore from IRB Pathankot Amritsar Toll Road ltd, an SPV of IRB InvIT Fund. The
Court has upheld Arbitral Tribunal’s Order and directed NHAI to release 75% of
the arbitration award amount, which is Rs 308 crore, to the company. IRB
Infrastructure was the EPC contractor for the Pathankot-Amritsar BOT project. 

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GPT Infraprojects

GPT Infra has received an order worth Rs 292 crore for the
execution of viaducts, major bridges, ROBs, supply of vehicles, site
facilities, and other related works of the Khurda Road-Bolangir New BG link
project of East Coast Railway. This contract is a joint venture.