Stocks in News
ONGC: The Government of India proposed to sell more than 9.43 crore equity shares (0.75 percent of the total paid-up equity) through an offer for sale on March 30 and March 31. The government also has an option to sell another lot of more than 9.43 crore equity shares via OFS, collectively representing a 1.5 percent stake. The floor price for the offer has been fixed at Rs 159 per share.
Hero MotoCorp: The two-wheeler maker will increase the ex-showroom prices of its motorcycles and scooters, with effect from April 5, 2022, to partially offset the impact of increasing commodity prices. The price increase will be up to Rs 2,000 and the exact quantum of increase will be subject to specific models and the market.
Rail Vikas Nigam: The company has signed a memorandum of understanding (MoU) with wholly owned subsidiary of JK Cement - Jaykaycem (Central). The MoU is for the development of a 50-km long new railway line between Devendra Nagar and Puraina in West Central Railway in Madhya Pradesh through SPV mode.
IDBI Bank: The board has granted in-principle approval for divestment of the bank's stake up to 11.10 percent in National Securities Depository (NSDL) through a market-driven process, and also approved selling the bank's entire stake in Ageas Federal Life Insurance Company to Ageas Insurance International NV (Ageas), pursuant to exercise of Call option by Ageas.
InterGlobe Aviation: Jiten Chopra has resigned as Chief Financial Officer (CFO) of the company. The board has approved the appointment of Gaurav Negi as the new CFO.
Lemon Tree Hotels: The company has signed a License Agreement for a 132-room hotel project at Rishikesh in Uttarakhand under the company's brand Aurika Hotels & Resorts - Luxury. The hotel is expected to be operational by March 2025. Carnation Hotels, a subsidiary and the hotel management arm of the company, will be operating and marketing this hotel.