Hero MotoCorp, ONGC, SBI to be watched

Hero MotoCorp: Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from 5 April 2022. The price revision has been necessitated to partially offset the impact of increasing commodity prices.

ONGC: The government proposes to sell more than 9.43 crore equity shares (0.75% of total paid up equity) through offer for sale on March 30 and March 31. The government also has an option to sell another lot of more than 9.43 crore equity shares via OFS, collectively representing 1.5% stake. The floor price for the offer has been fixed at Rs 159 per share.

State Bank of India (SBI): The Executive Committee of Central Board (ECCB) has given approval for buying the entire stake ie. 13.82% in SBI Global Factors, from existing shareholders SIDBI, Bank of Maharashtra and Union Bank of India.

RSWM: The company has entered into definitive Business Transfer Agreement (BTA) towards sale/transfer of Private Freight Terminal (PFT) at an aggregate consideration of Rs.33 crore.

RVNL: RVNL has entered into an MoU with Jaykaycem (Central), wholly owned subsidiary of J. K. Cement, for development of approx. 50 km. new Railway line between Devendra Nagar and Puraina in West Central Railway in Madhya Pradesh through SPV mode.

Coastal Corporation: The company's board has given its approval for fund raising up to Rs 50 crore through rights issue.

Lemon Tree Hotels: The company has signed a License Agreement for 132 room hotel project at Rishikesh in Uttarakhand under the company's brand Aurika Hotels & Resorts - Luxury by Lemon Tree Hotels. The hotel is expected to be operational by March, 2025.

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