Stocks to watch: Paytm, HDFC, Vedanta, Adani Transmission, Tata Power | Daily News Byte

One97 Communications: The digital financial services board of One97 Communications (OCL), which owns the Paytm brand, on Tuesday announced ₹850 billion kip share buyback program through the open market to prevent falling share prices. Paytm shares ended at ₹538.40 on the BSE on Tuesday. The maximum size of repurchase of equity shares from the open market route through the Indian Stock Exchange is ₹850 crore, excluding repurchase tax, at a price not exceeding ₹810 baht per share.

HDFC Bank/HDFC: Mortgage lender HDFC Ltd on Tuesday said it has received exchange approval for the transfer of non-convertible debentures (NCDs) to its subsidiary HDFC Bank. This is part of its plan to facilitate the merger of HDFC Ltd with HDFC Bank. Touted as the biggest transaction in Indian corporate history, HDFC Bank on April 4 agreed to take over the country’s largest domestic mortgage lender in a deal valued at around USD 40 billion, creating a financial services titan.

Vedanta: Vedanta Group on Tuesday said it has signed agreements with 30 Japanese technology companies to develop India’s semiconductor and glass manufacturing ecosystem. The agreement was signed at the Vedanta-Avanstrate 2022 Business Partner Summit held last week. in Tokyo, Japan. This meeting was attended by more than 200 representatives from more than 100 businesses around the world.

is the bank: Private sector lender Yes Bank on Tuesday said its board has approved the allotment of 361.61 crore shares and 255.97 crore warrants to private equity firms – The Carlyle Group and Advent – following the Reserve Bank of India’s request for the same. The private lender also said it has appointed individual nominees from PE firms as additional directors on its board. Sunil Kaul is the Carlyle nominee while Shweta Jalan is the Advent nominee.

Adani transmission system: Adani Transmission on Tuesday said it has merged its subsidiary Adani Cooling Solutions Ltd. According to the rules, the subsidiary company was incorporated on Monday with the authorized and paid initial share capital. ₹1,00,000 kip per unit to operate the district cooling system business. The legal entity will start doing business in due course, it added.

Piramal Enterprises: Piramal Enterprises on Tuesday announced that its subsidiary Piramal Capital & Housing Finance Limited has acquired 100% stake in PRL Agastya Private Limited for cash consideration. ₹90 billion. PRL Agastya is involved in the business of construction and development of real estate projects. The purpose of the acquisition is to obtain office space.

Tathagata energy: Tata Power has received shareholders’ approval to appoint former union secretary Rajiv Mehrishi as an independent director on its board. The special resolution for appointing Mehrishi as an independent director was passed with the required majority, according to a regulatory filing on Tuesday. Mehrishi is a retired Indian Administrative Service (IAS) officer of 1978 batch belonging to Rajasthan cadre and has extensive experience spanning 42 years.

Bank of Baroda: State Bank of Baroda (BoB) on Tuesday said it plans to sell majority stake in Nainital Bank. The bank’s board of directors has approved divestment of its majority stake in Nainital Bank Limited (NBL) and authorized the issuance of invitations to expression of interest (EOI) through preliminary information memorandum (PIM) from interested parties (IPs), the lender said in a regulatory filing. BoB currently holds 98.57 percent of NBL’s total share capital.

Kotak Mahindra Bank: Kotak Investment Advisors Ltd (KIAL) on Tuesday set to close Kotak Infrastructure Investment Fund (KIIF), a Type II Alternative Investment Fund (AIF) with a corpus of. ₹6,000 billion. The fund has already received the commitment ₹$5.328 billion from anchor investors including the Canada Pension Plan Investment Board (CPP Investments) and the Asian Infrastructure Investment Bank (AIIB).

PTC India: Energy trading solutions provider PTC India on Tuesday said that Mohammad Afzal has been appointed as the director of the Ministry of Power on its board. Afzal’s appointment was approved by the Commission on Circuit Amendment on December 12, 2022. He is Joint Secretary (Transmission) in the Ministry of Power. Afzal holds ME (First with Honors) in Power System Engg. Degree from University of Roorkee (now Indian Institute of Technology, Roorkee).