Trending Stocks: Vodafone Idea, Reliance, ONGC and others in news today
- Vodafone Group will invest Rs 500 crore in Voda-Idea thorugh convertible warrants
- SEBI imposed a penalty of Rs 30 lakh on RIL and its two compliance officers
- Oil ministry extends Alka Mittal’s additional charge as ONGC chairman
Vodafone Idea said its British shareholder Vodafone Group will invest Rs 500 crore in the company through equity or convertible warrants, following a previous cash injection by its promoters in March. The additional investment comes at a time when India’s largest telecom company is looking to raise Rs 20,000 crore from external investors in debt and equity.
Securities Exchange Board of India imposed a penalty of Rs 30 lakh on Reliance Industries and its two compliance officers for not making prompt clarification to the stock exchange about the Jio-Facebook deal, which was disclosed through the newspaper. The other two officers penalized by SEBI are Savithri Parekh and K Sethuraman. The fine needs to be joint and severally by them within 45 days, according to a SEBI order. The matter is related to the alleged lack of fair disclosures of unpublished price-sensitive information (UPSI), in the case of Facebook’s 9.99% investment in Reliance subsidiary Jio Platforms in April 2020. The deal was worth Rs 43,574 crores.
Also Read | New WhatsApp update: All you need to know
Oil and Natural Gas Corporation
Ministry of Petroleum and Natural Gas has approved the extension of the additional charge of the post of Chairman and Managing Director (CMD) to Alka Mittal, Director (HR), for two months from July 1 to August 31, 2022, or till the appointment of a regular incumbent to the post, or until further orders, whichever is the earliest.
Fitch Ratings has affirmed the ratings of Housing and Urban Development Corporation at ‘BBB-’ level, i.e. at the sovereign level. The rating agency has revised the outlook of HUDCO to ‘Stable’ from ‘Negative’. The rating action comes after the change in the outlook of the Government of India rating to ‘Stable’ from Negative on June 10, 2022.
Bharat Forge has announced plans to consolidate its electric vehicle business initiatives under Kalyani Powertrain (KPL), a wholly-owned subsidiary, for a better strategic alignment. The company Investment Committee - Strategic Business has approved to transfer of the company's stake in Refu Drive GmbH, the joint venture company, to KPL subject to receipt of necessary approval from regulatory authorities.
The company board will meet on June 24 to consider raising funds by issue of equity shares. This is subject to shareholders’ and regulatory approvals.
Suven Life Sciences
The company in an exchange filing said the board of Directors will meet on June 24 to consider raising funds through the issue of equity shares on a rights basis to the existing equity shareholders of the company.
The company informed that the board of directors has appointed Sanjay Jindal, Director (Finance) as Chief Financial Officer of the company in the place of Vartika Shukla, CMD, and Additional Charge Director (Technical). The appointment is with immediate effect for five years, or till the date of his superannuation, or until further orders, whichever is earliest.