Stock Corner
1.
The
Allahabad High Court has refused to grant interim relief to power sector
defaulters that had appealed for a stay on being dragged to the National
Company Law Tribunal. The order means financial institutions can initiate
proceedings against defaulting companies in the NCLT under the Insolvency and
Bankruptcy Code (IBC). Power sector companies together owe banks roughly Rs 1
lakh crore.
2.
Britannia
Industries’ board of directors have granted an approval for stock split in the
ratio of 1:2.
3.
Hexaware
Technologies’ promoters look to raise Rs1,120cr via 2.5-cr shares sale at a
floor price of Rs 447.5 apiece.
4.
Aban
Offshore’s board of director seeks an approval of shareholders to raise $400mn
from foreign markets via debt or equity and to raise Rs2,500cr via qualified
institutional placement.
5.
The shares
of Tata Motors and Tata Consultancy Services – both flagship companies of the
Tata Group – have moved in opposite direction in the last one year. While TCS
rallied 69 percent from its 52-week low, Tata Motors has fallen 45 percent from
its 52-week high.
6.
Private life
insurance company, DHFL Pramerica Life Insurance has appointed Kalpana Sampat
as its Senior Executive Vice President & Chief Operating Officer (COO).
Sampat has over 34 years of experience in the financial services sector in
India, having served most recently as the CEO for Swiss Re India.
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