Stocks in news: Zee Entertainment, Adani Ports, Info Edge, PVR, JSW Energy and more

Indian benchmark indices are likely to open lower today as SGX Nifty fell 106 points to 17,604 amid mixed global cues.

Benchmark indices snapped their four-session losing streak on Monday, led by gains in index heavyweights such as Reliance Industries, Infosys and ICICI Bank. Sensex closed 533.74 points or 0.91 per cent higher at 59,299 and Nifty surged 159.20 points or 0.91 per cent to 17,691.25.

Here are the stocks that are likely to be in focus today.

Zee Entertainment: Amid the ongoing spat with the board of Zee Entertainment Enterprises Ltd, Invesco on Monday urged the National Company Law Tribunal (NCLT) to pass an order to ensure the convening of the company”s Extraordinary General Meeting (EGM).
After hearing the matter for some time on Monday, the tribunal adjourned the proceedings for Tuesday.

Adani Ports: The company is set to enter the maritime sector in West Bengal as it emerged as the top bidder for operating a berth at Haldia Dock Complex, an official said on Monday.

Adani Ports and Special Economic Zone Ltd outbid city-based Ripley & Co by quoting a royalty of ? 75 per tonne for the rights to mechanise and run the dry bulk cargo handling berth at HDC of Syama Prasad Mookerjee Port Trust, formerly known as Kolkata Port, he said.

Info Edge: Info Edge (India) Ltd on Monday said it has invested an additional Rs 15 crore, through its wholly-owned subsidiary, in 4B Networks.
This investment is in exercise of a right available to the company to subscribe 4,245 additional securities for an amount of up to Rs 15 crore, it said in a regulatory filing.

The company already holds 19.9 per cent stake in 4B on a fully diluted and converted basis. The holding has now increased to 37.03 per cent.

PVR: Leading movie exhibitor PVR has partnered with e-sports company NODWIN Gaming and launched the country”s first in-cinema e-sports live tournaments.

The company has entered into the gaming exhibition segment looking at the cross over customers, who will visit the theatre to watch films and games and has tied up with NODWIN Gaming, said PVR Chief of Strategy Kamal Gianchandani.

JSW Energy: The company has signed a contract with Senvion India (‘Senvion’), a leading manufacturer of wind turbines, for procurement of 591 MW of
onshore wind turbines for the company’s under-construction pipeline of renewable energy projects.

The supply of the turbines from Senvion will start by the second quarter of CY2022. The turbines will produce enough green energy to meet the annual electricity requirements of more than 450,000 households in the country.

MGL: Following the steep 62 per cent hike in prices of domestically produced gas announced by the Centre last week, Mahanagar Gas on Monday increased the retail price of compressed natural gas (CNG) and piped natural gas (PNG) by Rs 2 each with immediate effect.

Given the massive increase in supply side cost, the company is constrained to increase the base price of CNG by Rs 20/kg and domestic PNG by Rs 2/SCM in and around Mumbai, MGL said in a statement.

PSU Banks: The Reserve Bank on Monday gave licence to the Rs 6,000 crore National Asset Reconstruction Company Ltd (NARCL), a move that will help kickstart operations of the bad bank.

NARCL was incorporated in July in Mumbai following registration with the Registrar of Companies (RoC).

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