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The board of directors of Unity Infraprojects will meet on January 21 to take on record the Letter of Approval of CDR (Corporate Debt Restructuring) package. The board will also consider a proposal to convert the FITL (funded interest term loan) into equity and issue further equity shares to the promoters. Shares of Unity Infra fell 1.34 per cent at ₹22.15 on the BSE.
Surana Solar Systems Pvt Ltd , a subsidiary of Surana Telecom and Power, has started commercial operations at its 5 MW power plant at Sankapur village, Medak District. The project has been commissioned at a cost of ₹28 crore. Further, the company has received the Letter of Award from Karnataka Renewable Energy Development Ltd for development of a 10 MW solar power project in Tingloor village, Tumkur. The total outlay for the project is about ₹60 crore. Shares of Surana Telecom slipped 0.57 per cent to ₹8.7 on the NSE.
Life Insurance Corp of India has sold 3.73 lakh shares of Axis Bank , worth ₹18.9 crore, on the National Stock Exchange and the BSE through the open market route on Tuesday. After the stake sale, LIC’s holding in Axis Bank has slipped marginally to 11.81 per cent from 11.83 per cent. Shares of Axis Bank closed at ₹499.60 on the NSE, down one per cent.
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