Stocks to watch: Paytm, Adani Transmission, Hero MotoCorp, Coal India, ONGC | News Bharat

One97 Communications: The Reserve Bank of India (RBI) has asked Paytm Payments Services Limited to resubmit its application to operate as a payment aggregator. The banking regulator has put a pause on the onboarding of online merchants from Paytm Payments Services. One97 Communications offered to transfer the payment aggregator services business it had undertaken to Paytm Payments Services (PPSL) in December 2020 to comply with RBI’s payment aggregator (PA) guidelines, but the banking regulator declined his request.

Adani transmission: An Adani Group company has sought license to expand its power distribution business in more areas of Mumbai, including the country’s largest container port JNPT. In an advertisement published in several newspapers in the city on Saturday, Adani Electricity Navi Mumbai (AENM) said it has approached the Maharashtra Electricity Regulatory Commission (MERC) for a distribution license in some pockets of the Mumbai metropolitan region along with its registered parent Adani Transmission.

Hero MotoCorp: Hero MotoCorp has announced that it will soon increase the prices of its motorcycles and scooters. The price increase will vary depending on the specific models and markets and will be effective from December 1, 2022. As announced by the company, the products will increase in price by ₹1500. This will be the fourth time Hero Motorcycles will get a price hike. The last price increase was announced in September this year. The price was increased by ₹1000 then.

Coal India: Coal India Limited on Friday said it has achieved its fastest 400 million tonne coal production in any fiscal year in the company’s history. It expects coal production to increase further in the coming months to reach its target of 700 MT in FY23. Last year, Coal India had produced 342 MT on November 24 and reached the all-time record production of 400 MT, 31 days ahead of December 25. This year, the same production volume was achieved 31 days ahead of last year.

ONGC: A government-appointed gas price review panel headed by Kirit Parikh is likely to recommend price caps for natural gas produced from legacy fields of state-owned firms to help moderate CNG and cooking gas prices while keeping pricing formula for difficult deposits unchanged. The group, which was tasked with offering “a fair price to the end user” while ensuring a “market-oriented, transparent and reliable pricing regime for India’s long-term vision of ensuring a gas-based economy”, may choose to offer two different pricing regimes, officials said.

TIL Ltd: Heavy equipment manufacturer TIL announced on Sunday that it has decided to bring in a strategic investor – Indocrest Defense Solutions, which is part of the Gainwell Group – to increase share capital in its business. According to the statement shared with the stock exchanges by TIL, the amount of funds to be invested by Gainwell Group was not mentioned.

Muthoot Finance: Muthoot Finance Ltd has announced its 29th Series Public Issue of Collateralized Redeemable Non-Convertible Debentures (NCDs). The face value of each NCD is ₹1000. The issue will open on November 28 and close on December 19. However, there will be an option to close the matter at a much earlier date or at an extended date as may be decided by the Board of Directors or the NCD Committee.

Gateway Distriparks: Integrated intermodal logistics operator Gateway Distriparks has plans to invest at least ₹500 crore by fiscal 2025 to fuel its growth plans, including expansion of the rail vertical, among others. With the upcoming greenfield inland container depot at Jaipur and the acquisition of an ICD terminal at Kashipur expected to be completed in the next few months, GDL aims to add a total of five ICDs by FY25, company chairman and managing director Prem Kishan Das Gupta said.

L&T Finance: L&T Finance Holdings Limited has announced the completion of the sale of its mutual fund business to HSBC Asset Management (India) Private Limited. He (i) received approx. ₹3,484 crore as consideration for the sale; and (ii) also realized surplus cash of approx. ₹764 crore in L&T Investment Management Limited, the asset manager of L&T Mutual Fund (LTIML) as per the final filings.

Venus pipes: BNP Paribas Arbitrage on Friday bought 6.5 lakh shares of Venus Pipes & Tubes for ₹42 crores through an open market transaction. According to block trade data available on BSE, BNP Paribas Arbitrage bought 6,50,000 shares, representing a 3.2% stake in the company. The shares were acquired at an average price of ₹650 per item with transaction value accepted up to ₹42.25 crores.