Sensex, Nifty Set To Rise; NDTV, Adani Enterprises, Bharti Airtel, NHPC, Lupin In Focus

NDTV/Adani Enterprises: The company’s promoters Pranoy Roy and Radhika Roy require SEBI’s approval for dealing in securities. SEBI’s approval, it said, is precursor to Vishvapradhan Commercial’s entitlement to convert warrants into equity shares. RRPR Holding has instructed bankers to return Rs 1.99 crore deposited by VCPL.

Bharti Airtel: Singtel units have entered into an agreement to sell a 3.3% direct stake in Airtel to Bharti Telecom, according to Singapore company statement. Bharti Telecom is a joint venture between Bharti Enterprises and Singtel. The deal will happen at any time before Nov. 23. Singtel expects $600 million Singaporean dollars net gain on divestment. Post-deal, Singtel is expected to own an effective stake of 29.7% in Airtel, estimated to be worth $22 billion Singaporean dollars, which comprises a 19.2% indirect stake through Bharti Telecom and a 10.5% direct stake.

NHPC: The company’s subsidiary NHPC Renewable Energy signed memorandum of understanding with the government of Rajasthan for setting up of 10 GW RE parks/projects at sites identified inside Rajasthan.

Lupin: The company has entered into a deed of assignment Boehringer Ingelheim International GmbH for the acquisition of brands Ondero and Ondero – Met, including trademark rights associated with the brands, which will enable it to provide comprehensive treatment options for diabetes management. The cost of acquisition is Euro 26 million (Rs 207.43 crore)

PB Fintech: The company approved investment of Rs 250 crore and Rs 650 crore in Paisabazaar Marketing and Consulting and Policybazaar Insurance Brokers respectively during the financial year 2022-23. It also incorporated a step-down subsidiary in Abu Dhabi with the objective of extending group’s technology hub in UAE and providing end to end tech solutions. It will also acquire 45% to 51% stake in UAE based YKNP Marketing Management via its Dubai unit for $4 million.

REC: The company has sold entire shareholding in Neemuch Transmission to Power Grid Corporation.

PSP Projects: The company has received contract worth Rs 257.35 crore taking its total order flow for FY23 till date to Rs 1,344.24 crore.