Market Commentary - Stock Alert
SBI, Power Grid, Oberoi Realty, Ashok Leyland to be watched As on : 06-Dec-23  08:58

SBI: The Executive Committee of the Central Board (ECCB) of the Bank has accorded final approval for acquiring 20% stake held by SBI Capital Markets (SBICAPS) in SBI Pension Funds Pvt. Ltd. (SBIPFPL) by SBI. The cost of acquisition is Rs. 229.52 crore.

Power Grid Corporation of India: The company has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System Project for ?Transmission system for evacuation of additional 7 GW of RE power from Khavda RE park under Phase III Part B? on Build, Own Operate and Transfer (BOOT) basis.

Oberoi Realty: The company has registered conveyance deed of the land located at Pokhran Road 2, Thane, admeasuring approximately 25,700 square meters (approx. 6.4 acres) (as per title deeds) in its favour and also taken possession of the property. The total consideration for acquisition of the said property is about Rs. 196 Crore, which has been paid in its entirety.

Ashok Leyland: The company had invested a sum of GBP 62869841.54 (approximately Rs. 662.5 crores) in Optare Plc. UK by way of equity shares as first tranche. Consequent to the allotment by the Board of Directors of Optare Plc., the shareholding of the company in Optare Plc. has increased from 91.63% to 92.19%.

AXISCADES Technologies: The company has acquired 99.99% stake in EPCOGEN upon payment of fixed consideration of Rs 26.25 crores, in accordance with the Definitive Agreements. Subsequently, EPCOGEN Private Limited has become a Subsidiary of the Company.

NL.C India: The company has started bio-mass co-firing in its coal based thermal power station NLC Tamilnadu Power Limited at Tuticorin on 5 December 2023.

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