LAST UPDATED: Jan. 10, 2021, 2:40 p.m.
New Delhi (Anish Yande): Sensex closed at a record high of 600 points at 48,782.51 on Friday. The benchmark index rose by up to 2% in Friday’s trading session. Nifty 50 closed at 14,347.25 at an increase of more than 200 points. Nifty rose by more than 1.4 percent in Friday’s trading session. Check stocks that would be promising in the week ahead.
Tata Power has obtained an order from the Kerala State Electricity Board Limited. The company has received an order from the electricity board for developing a 110-megawatt (MW) solar power project. The company signed a Power Purchase Agreement to produce energy that would be supplied to the Kerala State Electricity Board Limited.
The agreement is valid for 25 years from the commencement of operations.
Tata Power acquired a 51 percent stake in the TP Western Odisha Distribution Limited and TP Southern Odisha Distribution Limited. The company provided a combined consideration of Rs 382.70 crore for the companies.
The company has gained control over the distribution of power in Southern and Western Odisha. The company took over from January 1, 2021.
Union Bank of India:
The Union Bank of India has raised Rs 1,000 crore recently. The bank raised the amount by issuing Basel III-compliant bonds on a private placement basis. The coupon rate for the bonds is stated at 8.64 percent. The Union Bank of India would pay the coupon rate annually.
The IT services company, HCL Technologies, has recently partnered with Claim Genius. Claim Genius is a firm that provides automation solutions with a specialization in artificial intelligence. The firm develops management solutions based on AI for the automobile insurance segment.
HCL Tech would be integrating Claim Genius’s damage analysis technology in its services. The workflow solutions by Claim Genius would also be integrated into HCL Tech’s services for its global clients. The solutions are meant to improve accuracy and productivity in the automobile insurance segment.
NTPC has issued notices to Indian states and Union Territories regarding a non-payment of dues. The states include Madhya Pradesh, Sikkim, Uttar Pradesh Karnataka, and Telangana, and the Union Territories are Jammu and Kashmir and Puducherry.
NTPC has stated that it would be forced to restrict the power supply if the dues are not cleared.
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