Market
Updated: 132533 – – 44: : 
Indian equity markets are likely to open lower following losses in global markets as coronavirus outbreak has raised concerns over an economic slowdown. At 7: (am, the SGX Nifty was trading) . (points, or 0.) percent, lower at 20, . , indicating a subdued start for the Sensex and Nifty 100.
(CNBC-TV)
Vodafone Idea: The company made a payment of Rs 2, crore in its AGR dues to the Department of Telecom and will further pay Rs 1, 02 crore before the end of the week. Additionally, CARE Ratings downgraded company’s long-term bank facilities and non-convertible debentures (NCDs) from CARE BBB- to CARE BB-. (Image: Reuters)
Tata Teleservices (Maharashtra) Ltd: The company made a payment of Rs 2, crores to the Department of Telecom towards adjusted gross revenue dues. The payment has been made after a self-assessment of AGR dues. According to the government estimate, AGR dues for the company is at Rs 18, 900 crore
Reliance Industries: The company announced a consolidation of its media and distribution businesses spread across multiple entities into Network . Under the Scheme of Arrangement, TV Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network Media & Investments. The appointed date for the merger shall be February 1, . (Disclaimer: Reliance Industries is the sole beneficiary of Independent Media Trust which controls Network 24 Media & Investments Ltd.
Bank of Baroda: The bank issued a clarification on the Calcutta High Court order pertaining to a bank guarantee issued by it. The bank said that the bank guarantee was issued in the regular course of business which was invoked by the beneficiary. The bank did not pay the amount as the bank guarantee was conditional and valid only upon satisfaction of certain condition which was not fulfilled. The bank believes that it has acted in accordance with the terms and conditions of the bank guarantee. It will take appropriate steps as per the legal advice and comply with all the statutory and regulatory requirements.
JSW Energy: The company announced the acquisition of percent shares in GMR Kamalanga Energy Ltd (GKEL ) for a total consideration of up to Rs 5, 500 crore. GKEL presently owns and operates a (MW) 3 x MW) coal-based thermal power plant located at Dhenkanal in the Kamalanga district of Odisha.
Dewan Housing Finance Limited (DHFL): At least 44 suitors have already submitted an Expression of Interest (EoI) to acquire troubled mortgage lender under the Insolvency and Bankruptcy Code. KKR India Financial Services Ltd, Welspun Group, Adani Group, Oaktree Capital, ARCIL Asset Reconstruction Company and Bain Capital are among the suitors who have placed EoIs under Option I to take over the entire business.
JSW Steel: The company has been declared as the “preferred bidder” for three iron ore mines (Nuagaon Iron Ore Mine, Narayanposhi Iron & Manganese Ore Mine, Ganua Iron Ore Mine) in the state of Odisha . The estimated iron ore resources of the aforesaid mines are around
Finolex Industries: The company said that due to force majeure declared by its major VCM (vinyl chloride monomer) supplier during March 155139, the operations of the company with respect to its VCM to PVC (polyvinyl chloride) route will be affected for (to) days. This would result in a shortage of PVC production of approx. , (MT.)
KPI Global Infrastructure: The company has bagged an order for executing solar power project of KW capacity under “Captive Power Producer (CPP)” category from JPB Fibers, Surat and for which the Letter of Intent (Lol) has been received by the company. (Image: Reuters)
Grasim Industries: The company’s board approved raising Rs crore via non-convertible debentures (NCDs) on a private placement basis.
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