STOCKS ON RADAR:
Vedanta: In a major relief to the company, on Saturday the National Green Tribunal (NGT) allowed company to resume operations of copper smelter at Thoothukudi and directed the Tamil Nadu Pollution Control Board (TNPCB) to pass fresh order of renewal of consent and restoration of electricity supply for operations within 3 weeks from the date of the order. The court, however, directed Vedanta to deposit Rs 250 million as a token amount for their failures and asked the company to spend Rs 1 billion within a period of three years for the welfare of the inhabitants in the area.
Jet Airways: Nikos Kardassis, the former CEO of Jet Airways, who made a comeback to the carrier in an advisory role and was tasked to turnaround the cash-strapped airline, has once again parted ways with it, PTI reported citing sources. The former chief executive parted ways with the airline after Goyal initiated discussions with his investment partner Etihad Airways for further stake sale to garner funds, the report said.
Cadila Healthcare: Zydus gets US FDA nod for Albendazole tablets & Pregabalin capsules.
Vodafone Idea: Company clarifies on report on Telecom Tribunal setting aside TRAI?s predatory pricing issue. TDSAT set aside impugned tariff amendment order as it changes concept of significant market power, non-predatory.
Tata Power: Tata Power plans to invest around Rs 700 million to set up nearly 1,000 charging points in the National Capital Region (NCR) region, for electric vehicles (EVs). The plan is to join hands with the three government-owned oil marketing companies (OMCs) ? Hindustan Petroleum, Bharat Petroleum and Indian Oil. The charging stations would be set up by using the three OMCs? infrastructure.
Tata Sponge Iron: Company get shareholder nod to increase borrowing limit and for issue preference shares to Tata Steel on a private placement basis.
NTPC: Company acquired Barauni Thermal Power Station (720 MW) in district Begusarai, Bihar from Bihar State Power Generation Company Limited.
Infosys: IT giant Infosys signed an agreement to divest its shares in Israeli startup CloudEndure Limited for a total consideration of approximately $15.3 million (about Rs 110 crore).
Future Consumer: Future Consumer sold its stake in Amar Chitra Katha Private Limited (ACK) for Rs 44.39 crore. ACK has ceased to be a subsidiary of the company with effect from December 14, 2018.