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The board of directors of NHPC on Thursday deferred consideration of a proposal to raise ₹494 crore via issuance of ‘W’ series corporate bonds on private placement basis. The board approved a proposal to raise ₹2,000 crore, instead of ₹5,000 crore, through issue of corporate debentures/bonds on private placement basis. The decision is subject to shareholder approval, the company said in a statement to the exchanges. The stock edged down 1.3 per cent at ₹30.30 on the NSE.
State owned Punjab National Bank (PNB) on Thursday said it plans to raise up to ₹3,000 crore by way of a follow-on public offer/ qualified institutional placement/ rights issue. The board of directors of the bank will meet on August 1 to consider the proposal, the bank said in a notice to the stock exchanges. The stock of PNB tumbled 3 per cent at ₹154.15 on the NSE.
Nava Bharat Ventures on Thursday said commercial operations of the power plant at Maamba Colleries have commenced. The 300-MW power plant of Maamba Colleries, a step-down subsidiary of the company, has been in operation and has achieved provisional acceptance under the EPC contract. Following the capitalisation, its commercial operations will be consolidated into the company’s financials hereafter, the company said in a statement to the exchanges. The stock plunged 3.33 per cent at ₹134.85 on the NSE.
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