Key Companies to Monitor: Keep an eye on the major developments surrounding these companies before the market opens on November 16, 2023.
Bajaj Finance: The Reserve Bank of India has instructed this non-banking finance company to halt the approval and disbursement of loans for its eCOM and Insta EMI Card lending products immediately. The directive stems from the company’s non-compliance with digital lending guidelines, specifically the failure to issue key fact statements to borrowers for these two products and deficiencies in statements for other digital loans.
One 97 Communications (Paytm):
Paytm’s operator has announced a strategic partnership with global travel technology company Amadeus. Over the next three years, the collaboration aims to redefine the travel experience using artificial intelligence, integrating Amadeus’s extensive travel platform to enhance the entire process from search and booking to payments.
Suzlon Energy:India’s leading renewable energy solutions provider has achieved an important milestone as its S144, 3 MW, and 3.15 MW wind turbine series receives listing under the Revised List of Models and Manufacturers (RLMM) from the Ministry of New and Renewable Energy (MNRE). This listing is crucial for the successful commercialization of the product.
Vedanta:Malco Energy, a wholly-owned subsidiary, has established a new wholly-owned subsidiary, Vedanta Copper International VCI Company. This subsidiary aims to establish a copper rod manufacturing unit in the Kingdom of Saudi Arabia.
ASK Automotive:Goldman Sachs Funds Goldman Sachs India Equity Portfolio has acquired 23.2 lakh equity shares, equivalent to 1.18 percent of paid-up equity, through an open market transaction at an average price of Rs 310.05 per share, amounting to Rs 71.95 crore.
Rox Hi-Tech:The IT solutions provider will list its equity shares on the NSE Emerge on November 16 at an issue price of Rs. 83 per share. The equity shares will be available for trading in the trade-for-trade segment.
VST Tillers Tractors:The farm equipment manufacturer has unveiled three new tractors, including its indigenously developed electric tractor, at Agritechnica 2023 in Hanover, Germany. The products showcased include the 929 EV, the 932 DI with Stage V engine, and the 929 with HST transmission.
Bondada Engineering:The company has secured work orders worth Rs 34.35 crore from Bharat Sanchar Nigam (BSNL) for infrastructure services, including supply and erection of GBT, installation of infrastructure items, and subsequent operation and maintenance for five years for the Lakshadweep cluster.
Satin Creditcare Network:The microfinance company’s board members will convene on November 20 to consider fundraising through the issuance of non-convertible debentures on a private placement basis.
Bayer Cropscience:The crop protection product manufacturer will trade ex-dividend from November 16, with an interim dividend of Rs. 105 per share. Other companies, including Power Grid Corporation of India, Cigniti Technologies, Container Corporation of India, MSTC, Saksoft, and Sundram Fasteners, will also turn ex-dividend on the same date.
RateGain Travel Technologies:The software company offering SaaS solutions for travel and hospitality initiated its qualified institutional placement (QIP) issue on November 15, with a fixed floor price of Rs. 676.66 per share.
