Everything you need to know to start trading on September 2
Vedanta: The board of directors approved the first interim dividend of Rs 18.50 per share for the 2021-2022 fiscal year. The interim dividend amounts to Rs 6,877 crore for the year. The registration date for the payment of the dividend is September 9, 2021.
Hindustan zinc: Extension of the shutdown of one of the roasters at the Chanderiya lead-zinc smelter for the repair and overhaul of many major structural components in order to avoid any operational risk in the future. The shutdown will result in a loss of production of approximately 25,000 tonnes of zinc. The company expects the roaster to be operational by mid-October 2021.
Wipro: Appointed Mohammed Areff as Country Head and Managing Director for Middle East. Areff will focus on Wipro’s vision for business growth, localization, brand building and significant transformation and modernization commitments with customers in key sectors in the region, the company said.
National Bank of India: Rs 4,000 crore increase through the issuance of local AT-1 bonds. SBI raised funds at the coupon rate of 7.72%. The bank received over 10,000 crore rupees in the offers.
Indian Bank: The central government appointed SL Jain as managing director and managing director of the bank for a period of three years from September 1.
Mphasis: The Board of Directors approved the renewal of Nitin Rakesh’s tenure as CEO and his appointment as CEO of the company for a period of 5 years from October 1, 2021
IIFL Wealth Management: Appointed Sanjay Wadhwa as the company’s chief financial officer effective September 2. Wadhwa will replace Mihir Nanavati who stepped down as of September 1.
Minda Company: The company’s wholly-owned subsidiary, Spark Minda Green Mobility Systems, has entered into definitive agreements to acquire 26% of the capital of EVQPOINT Solutions. With this investment, Spark Minda Group will become EVQPOINT’s exclusive technology and manufacturing partner for battery chargers and power equipment for EVs. This partnership with EVQPoint aims to strengthen the electric vehicle power equipment portfolio of the Spark Minda group and to offer battery chargers for onboard and outboard configurations in the range from 250 W to 6.6 KW, with a roadmap for further expansion of the range, said executive director Aakash Minda.
Aditya Birla Fashion and Retail: Increase to Rs 400 crore by issuing 4,000 unsecured NCDs with a face value of Rs 10 lakh each on a private placement basis, effective September 8th.
Kitex clothing: The Telangana government has approved the company’s Rs 1,000 crore expansion plan.
Kotak Mahindra Bank: Completion of the sale of 20 crore shares, or 8.57% shares on a fully diluted basis, from Airtel Payments Bank to Bharti Enterprises for Rs 294.8 crore.
Axis Bank: The RBI imposed a penalty of Rs 25 lakh on the bank for violating certain provisions of the KYC standards.
Coal from India: Production in August up 14.6% over one year to 42.6 MT against 37.2 MT. Sales increased by 9.5% over one year to 48.6 MT against 44.4 MT.
GRM abroad: Approved appointment of Vedant Garg as CFO effective September 29. Garg will replace Rattan Lal Mittal, who will step down as of the close of business hours on September 28.
Grasim Industries: The Board of Directors has approved the appointment of Hari Krishna Agarwal, as CEO of the company for a period of two years from December 1, 2021. Agarwal will replace Dilip Gaur who will retire on November 30.
IFGL refractories: Completion of the first phase of the greenfield project being installed in the industrial park of Andhra Pradesh at a cost of around Rs 30 crore. The company began commercial production of Monolithics and Castables. The installed capacity is 48,000 MT per year.
Metallic Shyam and Energy: The company’s wholly owned subsidiary, Shyam SEL & Power, completed the acquisition of 90% stake in Shree Venkateshwara Electrocast for Rs 22.28 crore on August 31. The investment in Shree Venkateshwara was made through a combination of equity and business-to-business loans.
NMDC: sales announced in August of 2.91 million tonnes against 1.79 million year-on-year
Morepen Laboratories: Approves the transfer of the medical devices business to a unit
AGM: IPCA Laboratories (3:30 p.m.); Bank of Karnataka (11am); Hikal (11:30 am); Indian Energy Exchange (12 noon); Ingersoll-Rand India (12h); Shree Renuka Sucre (11 a.m.)