RIL, Pidilite Industries, Capri Global in focus
Reliance Industries (RIL) has decided to implement a Scheme of Arrangement to transfer Gasification Undertaking into a Wholly-Owned Subsidiary.
Trends on the Singapore stock exchange indicates that the Nifty could fall 15 points at the opening bell. Overseas, Asian stocks are trading mixed on Thursday as investors reacted to the Bank of Korea’s rate decision. The Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected. U.S. stocks pushed modestly higher on Wednesday as the recent jump in bond yields took a breather, allowing tech stocks to recover. Here is the list of stocks that will be buzzing in today’s trade.
Reliance Industries: The board of Reliance Industries (RIL) has decided to implement a Scheme of Arrangement (Scheme) to transfer Gasification Undertaking into a Wholly-Owned Subsidiary (WOS). The Board has accordingly approved a Scheme to transfer the Gasification Undertaking as a going concern on slump sale basis for a lump sum consideration equal to the carrying value as on the Appointed Date.
Pidilite Industries: The company said that Madhumala Ventures (Madhumala), a wholly owned subsidiary of the company, has agreed to make an investment of Rs. 1.56 crores in Constrobot Robotics (the Investee Company) which is engaged in the business of research, development, manufacturing and trading of robotic equipment and related software to be used in construction activities.
Tube Investments: Credit rating agency ICRA has reaffirmed the long-term rating at [ICRA]AA+ and the short-term rating at [ICRA]A1+ in respect of the bank fund based and non-fund based limits of Tube Investments of India. The long-term rating has been removed from watch with developing implications and ‘Stable’ outlook has been assigned.
63 Moons Technologies: The company informed that Wholly Owned Subsidiary Tickerplant (presently not a material subsidiary) is proposing to raise funds by way of private placement offer of its equity shares to meet its business requirements.
Capri Global Capital: CGCL has entered into a co-Lending agreement with Union Bank of India (UBI) to offer MSMEs loans. Through this collaboration, CGCL and UBI aim to disburse MSME loans across 100+ touch points pan India. The loan disbursement under this arrangement would commence from December 2021.