Bharti Airtel said that it will acquire a Warburg Pincus affiliate s 20% equity stake in its DTH arm Bharti Telemedia for a total consideration of about Rs 3126 crore which will be discharged primarily via issuance of 36.47 million equity shares of Bharti Airtel at a price of Rs 600 per share; and up to Rs 1037.80 crore in cash.
The proposed transaction is part of Airtel s strategy to align the shareholding of its customer facing products, services and businesses under the same holding group. A full control and ownership over Bharti Telemedia allows Airtel to offer differentiated and converged solutions to customers so as to promote One Home strategy.
Phillips Carbon Black Limited commissions 2 Specialty Black lines at Palej in Gujarat
Posted On: 2021-02-17 11:34:10 (Time Zone: Arizona, USA)
Phillips Carbon Black Limited has commissioned 2(two) specialty black lines at Palej, in Gujarat for production of wide range of specialty black products totaling about 32,000 MTPA to service the growing needs of its customers.
Shares of PHILLIPS CARBON BLACK LTD. was last trading in BSE at Rs.197.6 as compared to the previous close of Rs. 199.7. The total number of shares traded during the day was 237878 in over 3020 trades.
The stock hit an intraday high of Rs. 205.35 and intraday low of 195.3. The net turnover during the day was Rs. 47775503.
Here are the top stocks that are likely to be in focus today:
Bharti Airtel: The company will acquire 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore.
Earnings Today: Ambuja Cements and four other firms are slated to announce their December quarter numbers today.
Telecom equipment makers: Shares of telecom equipment makers such as Dixon Tech, ITI will be in focus after the government announced Rs 12,000-crore PLI scheme for the telecom sector.
Dish TV India: The company s board approved raising funds of up to Rs 1,000 crore on Wednesday. The company and its promoters also settled with Sebi cases of alleged disclosure lapses after paying nearly Rs 45 lakh as settlement charges.
Read more about Market trading with small gains; breadth strong on Business Standard. Key benchmark indices are trading with small gains in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 46.24 points or 0.09% at 51,750.07. The Nifty 50 index was up 12.45 points or 0.08% at 15,221.35.
Phillips Carbon Black advanced 2.48% to Rs 202.50 after company informed about the commissioning of two specialty black lines at Palej in Gujarat.
The lines are for production of wide range of specialty black products totalling about 32,000 MTPA (million tonnes per annum) to service the growing needs of its customers. The announcement was made after market hours yesterday.
In the past one year, the stock has gained 60.77% while the benchmark Sensex rose 26.40% during the same period.
Phillips Carbon Black, a part of RP-Sanjiv Goenka Group, is India s largest carbon black manufacturer.
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