Stocks In the News: Jet Airways, BEML, Gufic Biosciences and others

Stocks In the News: Check out the companies such as M&M, BEML, Gufic Biosciences and others making headlines before the stock market open.

Here are a few stocks which may buzz the most in today's trade:

Jet Airways: The Kalrock-Jalan consortium has sought two more months to complete regulatory requirements to revive the air operator’s certificate of Jet Airways. The consortium has made an application to the National Company Law Tribunal in that regard. Last June the NCLT cleared the consortium’s plan to revive Jet Airways.

BEML: The board on March 22 will consider an interim dividend for FY22 on equity shares, if any. The record date for payment of interim dividend is fixed as March 30.

Paytm: Macquarie has cut the target price on Paytm parent One97 Communications to Rs 450 from Rs 700 while retaining an underperform rating. Macquarie said globally fintech companies have corrected sharply.

Gufic Biosciences: This Stocks In the News that the company has incorporated a wholly owned subsidiary firm - Gufic UK, to expand its pharmaceutical business in United Kingdom.

Mahindra & Mahindra: This Stocks In the News that the company said it will increase its stake in Carnot Technologies Pvt Ltd to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies, which provides products and services related to internet connected devices for monitoring performance of vehicles and equipment, the company said in a regulatory filing.

Coal India: The government said there is no cash crunch in Coal India and its subsidiaries at present. Gross debtors stood at Rs 15293 crore as of February 28, it said.

Reliance: Company’s Telecom arm Reliance Jio Infocomm has conveyed its decision not to pursue its project to install telecom towers inside Gir and Girnar wildlife sanctuaries, Parliament was informed on Wednesday.

As informed by the Gujarat government, Reliance Jio Infocomm had submitted proposals for construction of 41 mobile towers in the Gir and Girnar wildlife sanctuaries.

Voltas: The company will enter into a joint venture arrangement with Highly International (Hong Kong), a wholly owned subsidiary of Shanghai Highly (Group) Company. With this JV, the company will engage in the business of design, development, manufacture, marketing, sale and service of inverter compressors for room air-conditioners, motors for inverter compressors, and their associated parts including sourcing of raw materials and components required for manufacturing these products.

Tata Communications: Formula 1 and the company on Wednesday jointly announced a multi-year strategic collaboration for end-to-end managed network services for video contribution globally.

With this deal, Tata Communications will return to sports as the official broadcast connectivity provider for Formula 1.

Also Read : Tata Communications share price falls 3% on weak Q4 numbers

Glaxosmithkline Pharmaceuticals: This Stocks In the News that the company has completed the transaction for sale of its trademarks pertaining to 'lodex' and 'Ostocalcium' brands in India to GlaxoSmithKline Asia Private Limited.

JSW Energy: JSW Energy on Wednesday said that it has completed the streamlining and reorganisation of its renewable and thermal power businesses.

Indiabulls Housing Finance: Board constituted Committee of the Company is scheduled to be held on Tuesday, March 22, 2022 to consider and approve raising of funds through issue of secured and/or unsecured bonds, in one or more tranches, on private placement basis.

Zydus Lifescience: This Stocks In the News that the company has entered into an agreement to acquire up to 11.86 per cent stake on a fully diluted basis in AMP Energy Green Nine Private Limited, for setting up captive Wind Solar Hybrid power project in Gujarat.

Yasho Industries: Board of Directors of the Company has approved Capital expenditure for new greenfield project for the capacity of 15,500 Metric Tonne per annum at Pakhajan Village, Bharuch. The estimated capital expenditure towards the project is Rs. 350 crores (net of taxes).

Adani Power: This Stocks In the News the company said it has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh. The cost of acquisition of Essar Power M P, which is undergoing insolvency resolution, is over Rs 4,250 crore, including estimated cost of compliance with environmental and emission norms.

Satin Creditcare Network: The board on March 22 will consider fund raising by issuance of NCD on private placement basis.

Om Infra: This Stocks In the News that the company secured two prestigious contracts from Public Health Engineering Department, Region Churu (Rajasthan).

Allcargo Logistics: The board has approved an interim dividend of Rs 3 per share.

SAIL: State-owned Steel Authority of India (SAIL) has approved an interim dividend of ₹2.5 per share for the current financial year 2021-22, according to an exchange filing.

Future Retail: Kishore Biyani-led Future Retail (FRL) said on Wednesday that it was committed to taking all actions necessary to seek value adjustments and reversal of takeover of stores by the Reliance group.

Tata Steel: Acquisition of 90 per cent equity shares in Ceramat Private through step-down subsidiary Tata Steel Advanced Materials Limited has been completed.

Also Read : Tata Steel shares gained 3% as Q3 net profit doubles

DLF: ICRA has upgraded its long-term rating on the Banking Facilities and Non-convertible Debentures (NCDs) of DLF Cyber City Developers, a material subsidiary company, to ICRA “AA” stable from ICRA “AA-"(Minus) stable.

SBI, Union Bank of India and IOB: The Banks Board Bureau (BBB) recommended the name of Alok Kumar Choudhary for the post of managing director of SBI. It also recommended A Manimekhalai, Ajay Kumar Srivastava and Swaroop Kumar Saha for MD positions of Union Bank of India, Indian Overseas Bank and Punjab & Sind Bank, respectively.