NEWS CORNER
1.
Adani Enterprises Ltd on Thursday
announced acquisition of aerospace and defence player Alpha Design Technologies
Pvt Ltd for Rs400cr in an all-cash deal. The acquisition strengthens Adani’s
positioning in the defence sector. Alpha Design Technologies provides Adani
Defence and Aerospace strong tier-1 capabilities for building a base for
graduating to platform capabilities.
2.
Shares of Oil and Natural Gas
Corporation (ONGC) have moved higher by 5% to Rs 150, bouncing back 6% from the
intra-day low of Rs 141 on BSE, after the company said its board will meet on
Thursday, December 20, 2018, to consider a share buyback proposal.
3.
Indian Oil Corporation’ board
approves buyback of shares at Rs149/share and declares a dividend of
Rs6.75/share.
4.
Telecom companies, like Bharti
Airtel and Vodafone Idea, will be in focus as Telecom Disputes Settlement and
Appellate Tribunal strikes down TRAI’s norms on predatory pricing.
5.
Vijaya Bank raised its MCLR by
five basis points across various tenors with effect from Dec 14.
6.
Shares of Max India have moved
higher by 13% to Rs 75.65 per share, rallying 26% in the past two trading days
on the BSE on back of heavy volumes. The rally comes on the back of reports
that it is likely to exit from the health insurance business.
7.
Shares of Fortis Healthcare fell
as much as 14 per cent to Rs 130 apiece on the National Stock Exchange (NSE) in
the intra-day trade after the Supreme Court put company's sale to IHH on hold.
Earlier, the Malaysian firm IHH Healthcare Berhad made an open offer to acquire
additional 26 per cent stake in Fortis Healthcare which was scheduled to
commence on December 18 and close on January 1, 2019, as per the regulatory
filing.
Missed call
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