Stocks in News Today
US Federal Reserve hikes interest rate:
The US Federal Reserve announced a 0.25% hike in its benchmark short-term interest rate. The Federal Reserve had been keeping interest rates with the aim to assist citizens in tackling the economic difficulties caused by the pandemic. However, amidst rising inflation in the country, a move to increase interest rates was being widely anticipated by the media. Fed policymakers mentioned that they expect inflation in the USA to remain elevated and to end 2022 at 4.3% - more than double the 2% annual target.
JSW Energy: JSW Energy has completed the streamlining and reorganization of its renewable and thermal power businesses. The board of the company had approved the reorganization on November 25, 2021, with the aim of unlocking and enhancing shareholders' value.
Torrent Power: Torrent Power has inked agreements to acquire a 51% equity stake in Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Ltd.
Future Retail: Future Retail mentioned that Reliance Industries taking over the company's retail stores has come as a surprise to Future Retail. The company mentioned that it has taken strong objection to the move and has asked the Reliance group to reconsider all other actions initiated over the last few days.
BSE: The number of registered investor accounts with the Bombay Stock Exchange (BSE) has reached 10 crores.
Infibeam Avenues: Infibeam Avenues has allotted 133.81 crore equity shares of Re. 1/- each by way of bonus issue on 16 March 2022.
Coal India: The gross debt amount of Coal India and its subsidiaries stood at Rs. 15293.17 crore (provisional) as of 28 Feb 2022, the Ministry of Coal mentioned.
Adani Power: Adani Power has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh.
Bajaj Finserv: Bajaj Finserv has re-appointed Sanjiv Bajaj as the Managing Director (MD) of the company for a period of 5 years.
Shree Cement: Shree Cement has commenced a trial run of its new Clinkerisation Unit at Baloda Bazar, near Raipur in Chhattisgarh. The unit will improve the company's clinker supply to its various grinding units in Eastern region.
Gufic Biosciences: Gufic Biosciences has incorporated a wholly-owned subsidiary firm - Gufic UK. The subsidiary has been incorporated with the aim to expand the company’s pharmaceutical business in United Kingdom.
Reliance Capital: Reliance Capital’s Chief Executive Officer (CEO) Dhananjay Tiwari has resigned with effect from March 15, 2022.
Allcargo Logistics: The board of Allcargo Logistics has approved an interim dividend of Rs 3 per share.
SAIL: Steel Authority of India (SAIL) has approved an interim dividend of Rs 2.5 per share for the current financial year.
US Federal Reserve hikes interest rate:
The US Federal Reserve announced a 0.25% hike in its benchmark short-term interest rate. The Federal Reserve had been keeping interest rates with the aim to assist citizens in tackling the economic difficulties caused by the pandemic. However, amidst rising inflation in the country, a move to increase interest rates was being widely anticipated by the media. Fed policymakers mentioned that they expect inflation in the USA to remain elevated and to end 2022 at 4.3% - more than double the 2% annual target.
JSW Energy: JSW Energy has completed the streamlining and reorganization of its renewable and thermal power businesses. The board of the company had approved the reorganization on November 25, 2021, with the aim of unlocking and enhancing shareholders' value.
Torrent Power: Torrent Power has inked agreements to acquire a 51% equity stake in Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Ltd.
Future Retail: Future Retail mentioned that Reliance Industries taking over the company's retail stores has come as a surprise to Future Retail. The company mentioned that it has taken strong objection to the move and has asked the Reliance group to reconsider all other actions initiated over the last few days.
BSE: The number of registered investor accounts with the Bombay Stock Exchange (BSE) has reached 10 crores.
Infibeam Avenues: Infibeam Avenues has allotted 133.81 crore equity shares of Re. 1/- each by way of bonus issue on 16 March 2022.
Coal India: The gross debt amount of Coal India and its subsidiaries stood at Rs. 15293.17 crore (provisional) as of 28 Feb 2022, the Ministry of Coal mentioned.
Adani Power: Adani Power has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh.
Bajaj Finserv: Bajaj Finserv has re-appointed Sanjiv Bajaj as the Managing Director (MD) of the company for a period of 5 years.
Shree Cement: Shree Cement has commenced a trial run of its new Clinkerisation Unit at Baloda Bazar, near Raipur in Chhattisgarh. The unit will improve the company's clinker supply to its various grinding units in Eastern region.
Gufic Biosciences: Gufic Biosciences has incorporated a wholly-owned subsidiary firm - Gufic UK. The subsidiary has been incorporated with the aim to expand the company’s pharmaceutical business in United Kingdom.
Reliance Capital: Reliance Capital’s Chief Executive Officer (CEO) Dhananjay Tiwari has resigned with effect from March 15, 2022.
Allcargo Logistics: The board of Allcargo Logistics has approved an interim dividend of Rs 3 per share.
SAIL: Steel Authority of India (SAIL) has approved an interim dividend of Rs 2.5 per share for the current financial year.
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