Reliance Industries and Disney are gearing up for a pivotal meeting in London to delve into advanced discussions regarding the potential merger of their media businesses in India.
PNC Infratech has accepted a substantial 3.9 billion rupees offer from NHAI to settle a dispute.
Meanwhile, RBL Bank has made an acquisition, securing an 8.51% stake in ONDC for Rs 40 crore.
Vedanta is set to convene a board meeting on December 18 to discuss and potentially approve the second interim dividend on equity shares for the financial year 2023-24.
Turning to the stock market, several companies, including Balrampur Chini Mills, Delta Corp, Hindcopper, Ibulhsgfin, Indiacem, National Aluminium, and ZEEL, find themselves in the Futures and Options (F&O) ban list, reflecting regulatory measures to manage market volatility.
The broader economic spectrum sees NBCC (India) securing work orders worth 15 billion rupees, indicating ongoing infrastructure developments. Jindal Stainless is making a significant environmental commitment, with plans to invest Rs 700 crore in sustainability projects aimed at reducing carbon emissions by 50%.
In the technology sector, R Systems International has approved the payment of an interim dividend for the year 2023 at a rate of 6.8 rupees per equity share.
In the legal arena, Dalmia Bharat Sugar and Industries have filed an appeal against an NCLT order before the National Company Law Appellate Tribunal.
Meanwhile, State Bank of India is set to sign a Euro 70 million line of credit with KfW, the German Development Bank, to support solar PV projects in India.
Moody’s has affirmed Reliance Industries’ Baa2 ratings with a stable outlook, providing a vote of confidence in the company’s financial position amid evolving market conditions.
Finally, IRCTC is eyeing a significant expansion in its non-railway catering business, planning to establish 15 more catering units across India and engaging in discussions with various government organizations and industrial houses to facilitate these ventures.
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