Indiabulls Housing Finance, Welspun Corp and Godrej Properties to see some action today

Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holding (the wholly owning parent company of OakNorth Bank) to TEMF (a fund managed by Toscafund Asset Management) for approximately Rs 630 crore. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company. With the latest stake sale, the company has raised a total of Rs 1,832 crore as fresh equity in the month of September 2020 (Rs 683 crore through QIP and Rs 1,149 crore through sale of stake in OakNorth) adding to the regulatory equity capital of the company.

Welspun Corp has received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore. These orders would be executed from India and will help boost the mill utilization for its India facilities. The inflow of orders is not only from the domestic O&G and Water business but also from exports. This indicates company’s strong positioning in all the markets. With these orders, the company's order book stands at 755 KMT valued at approximately Rs 6,300 crore, after considering execution up to August 2020.

Godrej Properties has entered into an agreement to acquire a well-located land parcel in Kalyan, Mumbai. Spread across 20 acres, this project will offer approximately 139,000 square meters (1.5 million square feet) of saleable area comprising primarily of residential apartments of varied configurations with a small amount of retail / commercial space. Kalyan is an established micro-market within MMR and this site is strategically located with multiple schools, hospitals, retail and residential spaces in close proximity.

NHPC is eyeing revenue of Rs 8,900 crore and electricity generation of 27,500 million units (MUs) in the current financial year (FY21) under an agreement with the government. The NHPC has signed a Memorandum of Understanding (MOU) with the Ministry of Power, Government of India for 2020-21. In the signed MOU for NHPC, generation target under 'excellent' rating has been set as 27,500 MUs as against last year target of 26,000 MUs. Excellent targets for revenue from operations (Net) has been kept as Rs 8,900 crore, operating profit as a percentage of revenue from operations (Net) has been kept as 38 percent.

Zen Technologies has completed acquisition of 100% shareholding in Zen Medical Technologies as per the documents received on September 29, 2020. Accordingly, Zen Medical Technologies became Wholly Owned Subsidiary of the company with effect from September 29, 2020.

BLS International Services has won contract from Republic of Estonia. As per the terms of the contract, BLS is contracted to provide services with regards to issuance of digital ID to e-residents granted by the Estonian Police and Border Guard Board (PBGB) at 5 newly added locations. The locations mandated by the contract are Japan, Thailand, Singapore, Brazil and South African Republic.

Hindustan Zinc has raised Rs 3,520 crore through rated, listed, unsecured, redeemable, Non-Convertible Debentures (NCDs) and allotted 35,200 NCDs bearing a face value of Rs 10,00,000 each. The board of directors at its meeting held on September 29, 2020 has approved and allotted the same.