Nifty futures on the Singapore Exchange traded 55 points, or 0.36 per cent, higher at 15,452, signaling that Dalal Street was headed for a positive start on Thursday.
The market was completely caught in a bear trap after a day of rally and fell more than one percent in the previous session, dragged by selling across sectors and weak global cues. The BSE Sensex tanked more than 700 points or 1.35 per cent to 51,823, while the Nifty50 plunged 225.50 points or 1.44 per cent to 15,413.
The private sector lender has appointed Satish Gundewar as its Chief Financial Officer and Key Managerial Personnel, after the retirement of Bharat Laxmidas Sampat from the said position.
The company has completed its debt resolution successfully and inducted new promoters on the board of directors. The board has approved the allotment of equity shares and 0.01 per cent redeemable non-convertible preference shares on a preferential basis as part of the resolution plan agreed by the lenders under the RBI Prudential Framework.
The telecom operator said the board approved raising of funds up to Rs 436.21 crore from promoter Euro Pacific on a preferential basis. The board also approved the convening of an Extraordinary General Meeting of the company on July 15 to seek approval of shareholders for the said preferential issue.
The automobile company informed exchanges that the board of directors will meet on June 27 to further deliberate on the proposal for the buyback of equity shares of the company.
IRB Infrastructure Developers
IRB Infrastructure received 75 percent of the arbitration award of Rs 419 crore from IRB Pathankot Amritsar Toll Road Ltd, an SPV of IRB InvIT Fund. The Court has upheld Arbitral Tribunal’s Order and directed NHAI to release 75 per cent of the arbitration award amount, i.e. Rs 308 crore, to the company. IRB Infra was the EPC contractor for the Pathankot-Amritsar BOT project.
The company has bagged an order worth Rs 292 crore for the execution of viaducts, major bridges, ROBs, supply of vehicles, site facilities and other allied works for Khurda Road-Bolangir New BG link project of East Coast Railway. This contract is a joint venture.
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