JSW Energy, Federal Bank, Zuari Industries, Titagarh Wagons are in Focus

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Domestic markets will likely start Thursday’s session on a firm note amid mixed global cues. At 7:45 am, the SGX Nifty was trading at 17,018 points, up more than 44 points.

Globally, US markets were mixed overnight, with the Dow and S&P 500 down 0.8%. Meanwhile, the Nasdaq Composite ended flat.

Mindspace Business Parks: The company raised Rs 550 crore through green bond issuance. The non-convertible debenture (NCD) has a term of three years and thirty days and a fixed quarterly coupon of 8.02% per annum, payable quarterly.

Future Retail: Kishore Biyani withdrew his resignation nearly a month, and a half after the company’s suspended board resigned. Liquidation professionals at Future Retail (FRL), undergoing a bankruptcy resolution process, disputed the content of Biyani’s resignation letter and asked it to be withdrawn.

Patanjali Foods: The stock exchange froze the promoters’ shareholding in Patanjali Foods after the company failed to achieve 25% public shareholding within a certain period. Currently, promoter-backed shares account for 80.82%.

Federal Bank: The board will meet on March 18 to consider raising funds by issuing unsecured Basel III Tier 2 subordinated bonds, such as bonds, for an aggregate amount of Rs 1,000 crore in a private placement.

Zuari Industries: The company agreed with Envien International and Zuari Envien Bioenergy (a wholly-owned subsidiary) to jointly build and operate a whole grain 150 kilo-litre/day anhydrous alcohol distillation plant and further explore organic and inorganic business opportunities in the field of biofuels.

Titagarh Wagons: The company, in association with Ramkrishna Forgings, has been announced by the Ministry of Railways as the lowest bidder (L1) to manufacture and supply forged wheels under the ‘Atmanirbhar Bharat’ initiative.

Star Cement: Rating agency ICRA maintained its long-term and short-term ratings on Shree Cement. The long-term rating outlook was revised to positive from stable.

Sarda Energy & Minerals: The company has obtained approval from the Chhattisgarh Environmental Conservation Board in Raipur to expand the annual capacity of its existing rolling mill from 180,000 tonnes to 250,000 tonnes.

Ethos: The company will enter Bhopal with the opening of the city’s first multi-brand boutique at 506 sq ft at DB City Mall, Zone 1, Maharana Pratap Nagar

JSW Energy: The board approved the allotment of 25,000 non-convertible debentures (NCDs) on a private placement basis to raise Rs 2,500 crore.

East West Holdings: The company’s wholly-owned subsidiary signed a one-year contract with the Dehradun-based Indian Petroleum Institute to provide customs clearance services. The 1-year contract is expected to generate revenue of Rs 1.5 crore for the company.

Innovators Facade Systems: The company has received a letter of award for a work order worth Rs 281 crore for the supply and restoration of glazing and ACP cladding works for Full Tower – HSBC Plot – Artesia MDP-Worli.

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