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The <keyword id="44524" type="CITY" weightage="20" keywordseo="Reliance-Infratel">Reliance Infratel</keyword> resolution plan has been approved by <keyword id="5037238" type="COMPANY" weightage="20" keywordseo="nclt-mumbai">NCLT Mumbai</keyword>. The lenders will get Rs. 4,400 crore from Reliance Digital Platform, a group company of <keyword id="6354504" type="PERSON" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> is the successful Resolution Applicant. Reliance Infratel has 43,000 towers and 172,000 kms fibre. <keyword id="943151" type="COMPANY" weightage="20" keywordseo="RITL">RITL</keyword> is a 100% subsidiary of <keyword id="6368075" type="COMPANY" weightage="20" keywordseo="RCom">RCom</keyword>. The resolution Plan was approved by 100% of COC. The <keyword id="6355809" type="UNKNOWN" weightage="20" keywordseo="nclt">NCLT</keyword> Resolution plan distribution is subject to disposal of Doha Bank Intervention Application, sources said. This will clear the decks for Reliance <keyword id="2003276" type="COMPANY" weightage="20" keywordseo="Jio">Jio</keyword> to pick up the tower and fibre assets of this bankrupt company. According to the approved plan, RCom and its subsidiary RTIL will go to UVARCL while the tower unit, Reliance Infratel, will go to Reliance Jio for a total consideration of Rs 20,000-23,000 crore to be paid over a period of seven years. SEE ALSO: <a href="https://www.businessinsider.in/india/news/supreme-court-dismisses-sbi-plea-to-vacate-stay-on-anil-ambanis-personal-guarantees/articleshow/78164449.cms">Breather for Anil Ambani as Supreme Court dismisses SBI plea</a> <a href="https://www.businessinsider.in/business/news/nclt-reserves-order-on-sbi-plea-against-anil-ambani-to-recover-over-rs-1200-cr/articleshow/76713145.cms">NCLT reserves order on SBI plea against Anil Ambani to recover over Rs 1,200 cr</a>

Reliance Infratel resolution plan approved by NCLT Mumbai – Jio to pick up the tower unit

The board of <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> is learnt to have approved resolution plan for <keyword id="46907" type="COMPANY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword>, through which lenders are expected to recover around ₹23,000 crore.UV Asset Reconstruction Company is believed to have placed bid of around Rs 14,700 crore, while Reliance Jio has made an offer of ₹4,700 crore for tower and fibre assets of <keyword id="44524" type="COMPANY" weightage="20" keywordseo="Reliance-Infratel">Reliance Infratel</keyword> Ltd. There will also be a clawback of ₹4,300 crore of priority payments made to Chinese and Indian creditors. Jio placed bid for tower and fibre assets of Reliance Infratel Ltd (RITL) and UVARC for assets of RCom and <keyword id="262352" type="COMPANY" weightage="20" keywordseo="Reliance-Telecom-Ltd">Reliance Telecom Ltd</keyword>. "SBI board has approved resolution plan for RCom. It is expected to vote favourably for the RCom resolution plan at the committee of creditors (COC) Meeting. Voting on the RCom Resolution Plan has started at the COC and will end on March 4," according to sources privy to the development. Email query sent to SBI and RCom resolution professional did not elicit any immediate reply. RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders submitted claims of around ₹49,000 crore in August. Reliance Communications has put all of its assets on sale that include spectrum holding of 122 megahertz (MHz), tower business, optical fibre network and data centres. According to an order by the National Company Law Tribunal, the CoC had to complete the entire process by January 10 but it sought extension in deadline. The resolution professional, Deloitte, is expected to file resolution plan with the NCLT Mumbai on March 5. RCom in the past had tried to sell assets to various companies, including Reliance Jio, to clear debt but the deals did not materialise. Reliance Jio cancelled agreement to buy RCom assets, including spectrum, as it did not want to bear the past liabilities of the debt-ridden firm. Later, the insolvency proceedings against RCom started on a plea filed by Swedish telecom gear maker Ericsson after the company failed to clear its dues. PRS BAL

RCom's lenders are close to resolve the unpaid loans; to recover ₹23,000 crore

<ul><li>At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50. However, on Wednesday, after an initial morning decline, <a href="https://www.businessinsider.in/stock-market/news/us-stocks-erase-losses-finish-higher-amid-renewed-stimulus-optimism/articleshow/79538793.cms">US stocks finished mostly higher as investors </a>latched onto hope that another round of fiscal stimulus to hasten the economic recovery is just around the corner. The Dow Jones Industrial Average closed 60 points higher, and the S&amp;P 500 was up 0.18%. These are the stocks to watch out for during the trading session today: RIL and Future Retail The Indian market regulator <a href="https://www.livemint.com/news/india/sebi-asks-bse-to-clarify-on-noc-to-ril-future-deal-11606901705869.html">SEBI has asked the BSE</a> to clarify on the no-objection-certificate (NOC) given by the exchange to the Future Group for amalgamation of some of its business as part of the ₹24,713 crore deal by Reliance Industries’ retail arm. The shares of RIL ended 0.21% higher on Wednesday, whereas Future Retail ended in red. Bharti Infratel and Bharti Airtel Bharti Airtel said its subsidiary Nettle Infrastructure Investments had acquired an additional 4.94% stake in Bharti Infratel for ₹2,882.32 crore. With this transaction, Bharti Airtel’s total stake in its mobile tower arm Infratel has increased to 41.66%. The shares of Bharti Infratel ended 4.40% higher on Wednesday, whereas Bharti Airtel ended in 1% higher. Wipro Wipro wins a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. The company said it would develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company. The shares of Wipro ended 1.8% higher on Wednesday. Dabur The company has responded to a study by the Delhi-based NGO Centre for Science and Environment (CSE) and said that its honey had passed the Nuclear Magnetic Resonance (NMR) test in Germany and it is complying with 22 parameters mandated by FSSAI for testing honey. The CSE study shows that 10 of the 13 brands of honey sold in India, including Dabur had failed the NMR test. The shares of Dabur ended 0.61% lower on Wednesday. DHFL The Committee of Creditors for cash-strapped DHFL has voted in favour of inviting revised bids. And, December 14 has been set as the new deadline to submit bids. The shares of DHFL ended 5% higher on Wednesday. Raymond Raymond’s subsidiary Silver Spark Apparel has entered into a share transfer agreement to divest its entire stake in its subsidiary Dress Master Apparel for ₹19.07 crore. The shares of Raymond ended 0.36% lower on Wednesday. Tata Chemicals Tata Sons bought shares worth ₹76 crore in Tata Chemicals. The shares of Tata Chemicals ended 6% higher on Wednesday. SpiceJet SpiceJet intends to expand its cargo business considerably over the next two years, after great success during the pandemic, the company’s Chairman and Managing Director, Ajay Singh said in their annual report. The shares of SpiceJet ended 4% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms" data-type="tilCustomLink">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/india/news/delhi-chalo-no-breakthrough-in-talks-government-seeks-farmers-objections-suggestions-on-farm-laws/articleshow/79521894.cms" data-type="tilCustomLink">Delhi Chalo: No breakthrough in talks, government seeks farmers' objections, suggestions on farm laws</a> <a href="https://www.businessinsider.in/science/news/china-just-landed-its-change-5-spacecraft-on-the-moon-the-mission-could-bring-moon-rocks-to-earth-for-the-first-time-in-40-plus-years-/articleshow/79520221.cms" data-type="tilCustomLink">China just landed its Chang'e-5 spacecraft on the moon. The mission could bring moon rocks to Earth for the first time in 40-plus years.</a>

Top stocks to watch — Future Retail, RIL, Bharti Infratel, Airtel, Wipro, Dabur, DHFL, SpiceJet, and others

<ul><li>The 30-share BSE index was trading 1.52% lower; while the Nifty50 cracked 150 points at 10:05 am. </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex tumbled over 500 points on Tuesday, led by massive sell-off in global stocks amid heavy foreign fund outflow. The 30-share BSE index was trading 1.52% lower; while the Nifty50 cracked 150 points at 10:05 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment Limited </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr></tbody></table>*as of September 24, 10:00 am RIL and Future Retail trade in red RIL shares down 1%, while Future Retail lost 5% as the Competition Commission of India (CCI) will examine the online and offline aspects of the Reliance-Future Group deal – separately and together – to ascertain their effect on competition, according to <a href="https://economictimes.indiatimes.com/industry/services/retail/competition-commission-reviewing-both-online-offline-aspects-of-reliance-future-deal/articleshow/78280366.cms?from=mdr">reports</a>. RIL’s retail arm sought the CCI approval for its ₹24,713 crore acquisition of the online and offline businesses of Future Retail. Ircon International shares gains 2% The shares of Ircon International surged 2% in an otherwise weak market after it secured contracts worth over ₹400 crore from the Ministry of Railways. The contracts pertain to works of nine roads over bridges. Dr Reddy's Lab shares up 1% The shares of Dr Reddy's Labs were trading 1% higher after the company received US Food and Drug Administration nod for its hyperparathyroidism drug, Cinacalcet Tablet. HDFC Limited shares down 1% The shares of Housing Development Finance Corporation was down 1% after the company said it is looking to raise up to ₹5,000 crore by issuing bonds on a private placement basis. ONGC shares down 2% The shares of state-owned Oil and Natural Gas company was down 2% after a massive fire broke out in its Surat-based <a href="https://www.businessinsider.in/india/news/massive-fire-at-hazira-based-gas-processing-plant-ongc-in-surat-updates/articleshow/78287631.cms">Hazira gas processing </a>plant in the early hours of Thursday. The reason and the damage due to the fire at ONGC plant are yet to be ascertained. Tata Motors DVR shares up 2% The shares of Tata Motors DVR 'A' Ordinary were up 2% after the parent company Tata Sons bought 37.63 lakh shares in the company at ₹59.83 per share on the NSE. Future Consumer shares down 4% Kishore Biyani owned Future Consumer shares shed 4% value during the early trade hours after the promoter entity Future Capital Investment invoked 36.6 lakh pledged equity shares of Future Consumer. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/yes-bank-is-hiring-again-for-the-coming-year-after-workforce-shrinks-by-1000-since-march/articleshow/78287419.cms" data-type="tilCustomLink">EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year</a> <a href="https://www.businessinsider.in/business/ecommerce/news/online-grocery-market-is-booming-huls-shikhar-app-now-gets-double-the-orders-big-baskets-rakes-in-thrice-the-volume/articleshow/78288794.cms" data-type="tilCustomLink">Online grocery market is booming – HUL's Shikhar app now gets double the orders, Big Baskets rakes in thrice the volume</a>

Top stock movers — RIL, Future Retail, Ircon International, Dr Reddy's Lab, ONGC, HDFC and more

In a bid to trim debt and concentrate on core operations, Anil Ambani-owned <keyword id="46907" type="CITY" weightage="80" keywordseo="Reliance-communications">Reliance Communications</keyword>, pitched as India’s fourth largest telecom carrier, wants to sell 51% stake in its unit <keyword id="44524" type="CITY" weightage="80" keywordseo="Reliance-Infratel">Reliance Infratel</keyword> at a valuation of Rs 20,000-25,000 crore. 
 
Reliance Infratel is India’s No. 3 tower company with around 45,000 towers and over 120,000 km of intro and inter-circle fibre. The first two positions are taken by Indus Towers and Bharti Infratel. 
 
As per insiders familiar with the matter, Ambani has sought bids from bankers including Morgan Stanley, Bank of America, Merrill Lynch and JM Financial to run the process. 
 
"Taking Bharti Infratel's valuation as a benchmark and putting in all performance and other parameters in place, Reliance Infratel's enterprise value would be at least Rs 20,000-25,000 crore, especially given the fact that the company has the largest fibre network in place," one of the people told Economic Times. 
 
As per data provided by India’s market bellweather BSE, Bharti Infratel, the only listed company in the space, has close to 86,000 towers and was valued at about Rs 74,000 crore as of Tuesday. 
 
Reliance Infratel is 96% owned by RCom and the remainder is owned by small and institutional investors like George Soros' Quantum (M), NSR Partners, Galleon, HSBC Daisy Investment ( Mauritius), Drawbridge Towers, Investment Partners B (Mauritius), which have invested $287 million in 2007. 
"The other deleveraging moves such as monetising real estate and sale of Global Cloud Xchange will continue, but given the condition of the market as well as the improved industry climate, the tower asset sale has been fast-tracked," the person told ET. 
 
Meanwhile, Reliance Communications wants to complete the sale process in 2015 itself, the person said, adding that in case if an outright sale happens, RCom would continue as a tenant in the company with new owners. 
Reliance Communications denied to comment. 
 
Another person familiar with the process told ET that RCom wanted to concentrate on its telecom business, launch 4G LTE services and monetise assets to reduce debt. 
 
Selling off of 51% stake would mean reduction of debt by at least Rs 15,000 crore and potentially by about Rs 20,000 crore on exit, said the person. He added that the company's debt, after paying the Rs 1,100-crore upfront fee following the March spectrum auctions, stands at about Rs 37,000 crore. 
 
Reliance Infratel has a debt of about Rs 8,000-10,000 crore, which is now part of RCom's books. 
 
Reliance Infratel sets up towers on which mobile phone companies install their base stations and equipment. The move to monetise it comes after nearly five years after a proposal for an initial public offering fell through due to stock market conditions, turmoil in the telecom industry, ongoing litigation and the absence of a clear valuation mechanism. Also, at that time, the only tenant on the towers was RCom. 
 
However, quite a lot has changes due to greater polic certainity and more pricing power and surging demand for data. Most leading telecoms 
have announced investments to expand and roll out 3G and 4G networks. As per the financial daily, RCom towers also now have 45,000 external tenancies, 30,000 from Reliance Jio Infocomm and 15,000 from others such as Airtel, Vodafone and Idea Cellular. 
 
(Image: Reuters)

Anil Ambani looks to trim debts, offers 51% stake in Reliance Infratel

New Delhi, Nov 29 () Reliance Jio has emerged as the highest bidder for mobile tower and optical fibre assets of Reliance Infratel by placing bids of around Rs 3,600 crore, according to banking sources privy to the development.
 Bharti Airtel has placed a bid of around Rs 1,800 crore for the same, according to the sources.
 "Reliance Infratel's tower and fibre is likely to go to Reliance Jio as its bid of Rs 3,600 crore is the highest and the company has committed to make the payment in 60 days. Bharti Airtel has placed a bid of Rs 1,800 crore for the same," a banking source said.
 Another source privy to the development said the process of finalising the bids will take a minimum of one-two weeks as committee of creditors (CoC) will meet all the bidders and negotiate with them and then vote on it.
 Bharti Airtel has also made conditional bid for spectrum of Reliance Communications (RCom).
 The sources said the conditions placed by Bharti Airtel will make it difficult for the resolution professional (RP) to close the process by January 10 as directed by the National Company Law Tribunal.
 Reliance Jio did not bid for RCom spectrum.
 VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Limited have also submitted their bids for the assets of RCom.
 RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders have submitted claims of around Rs 49,000 crore in August.
 Reliance Communications, which is undergoing insolvency proceedings, has put all its assets for sale, which include spectrum holding of 122 MHz that the company before insolvency proceedings estimated to be around Rs 14,000 crore, tower business worth Rs 7,000 crore, optical fibre network worth Rs 3,000 crore and data centres worth Rs 4,000 crore.
 According to an NCLT order, RP has to complete the process by January 10, 2020.
 RCom in the past has tried to sell assets to various companies, including Reliance Jio, to clear debts but the deals did not crystallise. Reliance Jio cancelled the agreement to buy RCom assets as it did not want to bear the previous liabilities of the debt-ridden firm.
 Later, the insolvency proceeding against RCom was started on a plea filed by Swedish telecom gear maker Ericsson after the company failed to clear its dues.
 RCom Chairman Anil Ambani had tendered his resignation after the company posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
 This was the second-highest loss posted by any Indian company till date.
 The CoC has, however, rejected Ambani's resignation and asked to cooperate in insolvency proceedings. PRS HRS

Reliance Jio likely to bag Reliance Infra's mobile tower, optical fibre for Rs 3,600 cr

New Delhi, Jan 20 () Fair trade regulator CCI has approved divestment of Reliance Jio's telecom tower assets to Canada's Brookfield Infrastructure Partners LP and other investors.
 The other investors include British Columbia Investment Management Corporation, GIC Infra Holdings Pte Ltd's subsidiaries Anahera Investment Pte Ltd and Valkyrie Investment Pte Ltd.
 In a tweet on Monday, the regulator said it "approves subscription of the units of Tower Infrastructure Trust by BIF IV Jarvis India Pte., British Columbia Investment Management and GIC Investors."
 The proposed transaction involves the acquisition of indirect control of Reliance Jio Infratel Pvt Ltd (RJIPL) by Jarvis, the Competition Commission of India (CCI) noted in a combination notice filed with it.
 Tower Infrastructure Trust, an InvIT, currently holds 51 per cent of the outstanding equity share capital of RJIPL. Current Sponsor of the InvIT is Reliance Industrial Investments and Holdings Ltd (RIIHL).
 The deal, as per the notice, is subject to receipt of requisite approvals from markets regulator Sebi. Jarvis would execute the "deed of accession" to the trust deed and be designated as one of the sponsors to the InvIT in addition to RIIHL.
 Besides, Jarvis would subscribe to the majority of the units to be issued by the InvIT.
 "Jarvis, subscribing to the units of the InvIT, subject to receipt of necessary approvals from SEBI, will discuss and mutually agree with the Parties on suitable mechanism, in accordance with the provisions of SEBI InvIT Regulations, for change of the current investment manager to an entity nominated and controlled by Jarvis," the notice said.
 The parties are Jarvis, British Columbia Investment, GIC investors, InvIT, and RJIPL.
 From the proceeds of the issuance of units, the InvIT proposes to acquire the remaining 49 per cent of the outstanding equity share capital in RJIPL.
 Additionally, GIC Investors and British Columbia Investment propose to acquire a minority interest in the InvIT by either directly subscribing to units of the InvIT, or by indirectly acquiring an interest in the InvIT through acquisition of shares in BIF IV India Holdings.
 In December 2019, RIL said its unit, Reliance Industrial Investments and Holdings Ltd (RIIHL) has inked binding agreements with Brookfield Infrastructure Partners LP and its partners for the tower business deal.
 Brookfield will buy out 100 per cent equity of the operating tower company.
 RIIHL "has entered into binding agreements with Brookfield Infrastructure Partners LP, and its institutional partners, for an investment of Rs 25,215 crore in the units to be issued by the Tower Infrastructure Trust," the company had said in a statement.
 Under the deal, RIIHL, the sponsor of Tower Infrastructure Trust, would issue units in the trust to Brookfield affiliate BIF IV Jarvis India and some co-investors.
 After the deal is closed, the Canadian alternative assets manager, Brookfield and its partners would become sponsors of the trust, holding 100 per cent of India's largest telecom tower company with 1,30,000 towers through Tower Infrastructure Trust, while the RIL subsidiary would become a co-sponsor, but will hold no units.
 This is the single largest foreign investment in an Indian infrastructure vehicle. SRS ANU
ANU

CCI approves Reliance's divestment of Jio tower assets

<ul><li>Vodafone-Idea’s shares are up 5% after the company completed its stake sale in Indus Towers for ₹3,760 crore.</li><li>There are also reports that a consortium led by Oaktree Capital has offered around $2 billion of capital to invest in the Vodafone Group’s Indian arm. </li><li>Analysts believe that fresh investments and price hikes to improve average return per users (ARPU) are the only things that can help its survival.</li></ul>Vodafone-Idea has been bleeding subscribers for years and now even its postpaid customers are under threat of being wooed away by <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. According to analysts, the only way out for the company is with the fresh infusion of funds — and that’s what the company is doing. Vodafone-Idea shares were up nearly 5% today morning after the telecom player completed the sale of its stake in Indus Towers for ₹3,760.1 crore in cash. There are also <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">reports</a> that a consortium backed by Oaktree Capital has offered Vodafone’s Indian arm $2 billion — approximately ₹14,800 crore — in funding. <div type="image" title="Copy of sbi share price (1)" msid="79316655" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone-Idea share price since September 7 when it was rebranded as Vi!&amp;lt;/p&amp;gt;"></div> Both of these moves tie in with <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword>’s announcement in September where it revealed its plans to raise ₹25,000 crore by selling its shares and debt. New funds and price hikes are the only way to save Vodafone-Idea As Vodafone Idea continues to lose subscribers, it's also running out of money. This limits the company’s ability to invest in networks and adds to subscribers’ woes who switch over to other telecom operators. “We believe this spiral can be broken only with significant ARPU increase and fund infusion,” said Edelweiss Research in its report dated October 30. According to Axis Capital, Vodafone Idea’s future depends on it. The new mega tower company In the endeavour to raise new funds, Vodafone Idea has sold off around 11.15% of its holding in Indus Towers to make way for a newly merged mega tower company. The Vodafone Group will still hold around 28.12% in the new firm. Meanwhile, <keyword id="6354287" type="UNKNOWN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>’s stake reduces from 53.51% in Bharti Infratel to 36.7% in the combined entity. "Merger of Indus Towers Limited &amp; Bharti Infratel Limited has been completed today. The combined entity, to be renamed as Indus Towers Limited, is listed on the National Stock Exchange of India Limited &amp; BSE Limited," said Bharti Airtel in its filing with the Indian exchanges. Oaktree, Varde Partners and others offer $2 billion in funding The Oaktree-led consortium is formed of many companies, including Varde Partners. Sources told <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">Bloomberg</a> that they have made an offer to infuse between $2 billion to $2.5 billion of capital into Vodafone Idea. But, this is only one of the many offers that the company is currently considering. Vodafone Idea is in talks with several other investors. The company has been reporting losses for nine consecutive quarters. And, since the merger of 2017, Vodafone Idea is yet to come up green in its annual reports. Vodafone Idea is the weakest of three telecom giants in India, the other two being Bharti Airtel and Reliance Jio. And its survival is the only thing that’s standing in the way of the Indian telecom market turning into a duopoly. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-infosys-vodafone-idea-apollo-hospitals-emami-route-mobile-syngene-and-others/articleshow/79314343.cms">Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a>

Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale

<ul><li>Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 250 points in early trade on Thursday led by gains in index majors Reliance Industries, ICICI Bank and amid positive cues from global markets. Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr></tbody></table>*as of September 10, 9:30 am These are the top stocks that are buzzing in trade today: Bank of Baroda shares gain 3% PSU Bank stocks are rallying in trade today. Bank of Baroda is up 3%, along with Canara Bank gaining 2% and Bank of India 4%. RIL hits record high The shares of Mukesh Ambani owned Reliance Industries were trading 3% higher during the early trading hours on September 10. The shares had hit a record high mark by topping ₹2,200 a piece for the first time. <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">Reports </a>also indicate that after Silver Lake, investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund could be next in line to pick stakes in Reliance Retail Limited. Future Retail hits 5% upper circuit The shares of Future Retail were locked in a 5% upper circuit after the company lost nearly 40% of the stock value in the last one week, since the acquisition by Reliance Retail. The 5% jump came after <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">reports </a>indicated a potential investment for RIL retail arm Reliance Retail from investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund. Bharat Dynamics snaps two days of losses Bharat Dynamics snapped two-day loss and turned positive, gaining over 2% after the Indian government said it mobilised ₹776 crore by divesting nearly 13% in the company. The offer for sale (OFS) had hit the market with the government selling over 2.74 crore shares in BDL at a floor price of ₹330 a piece. Indiabulls Housing Finance opened 3% higher The shares of Indiabulls Housing Finance opened 3% higher after the company launched its qualified institutional placement (QIP) on Wednesday. Indiabulls Housing is looking to raise ₹1,000 crore and has set the floor price for the QIP at ₹206.70 per equity share. Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain ahead of PM Matsya Sampada Yojana. PM Narendra Modi will digitally launch the scheme today. The scheme will be aimed at the sustainable development of the fisheries sector in the country with an estimated investment of <a href="https://www.narendramodi.in/prime-minister-narendra-modi-to-launch-pradhan-mantri-matsya-sampada-yojana-on-10th-september-551321">₹20,050 crores for its implementation</a> during a period of 5 years. ICICI Bank, HDFC Bank IndusInd Bank and SBI trade in green The shares of Banking giants ICICI Bank, HDFC Bank, IndusInd Bank and SBI were trading in green today (September 10). The shares of ICICI Bank and HDFC Bank were up 1%, whereas SBI gained 2%. The Supreme Court of India is slated to hear petitions seeking a waiver of interest on loans under moratorium today. Tata Motors shares gain 3% The shares of Tata Motors gained 3% after the company emerged as a strong number third passenger vehicle (PV) brand by <a href="https://www.thehindubusinessline.com/companies/passenger-vehicles-tata-motors-emerges-as-no-3-helped-by-new-products-campaigns/article32562617.ece">sales after Maruti and Hyundai</a>. HUL trades in red after DCGI notice The shares of FMCG giant Hindustan Unilever Limited were trading nearly a percent lower after Central Drugs Standard Control Organisation (CDSCO) served a show-cause notice to the company over an advertisement of its Lifebuoy brand of hand sanitiser. In its advertisement, HUL claimed that the Lifebuoy immunity-boosting hand sanitiser improves immunity and helps fight coronavirus. SEE ALSO: <a href="https://www.businessinsider.in/business/news/yatra-failed-merger-with-ebix-dents-the-companys-earnings-in-an-already-troubled-quarter/articleshow/78031342.cms" data-type="tilCustomLink">Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-adani-power-future-consumer-future-retail-bharat-dynamics-hal-indiabulls-housing-finance-and-more/articleshow/78030185.cms" data-type="tilCustomLink">Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more</a>

Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

<ul><li>Indian stock markets trade lower on Wednesday, extending the sell-off seen across global markets.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market began trade on a weak note on Wednesday. This comes on the back of weak global cues and sell-off across global markets. The equity benchmark index Sensex tumbled over 300 points in early trade; while the Nifty was down nearly 80 points as of 10:05 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries Limited </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td></tr></tbody></table>*as of September 9, 9:45 am These are the top stocks that are buzzing in trade today: AstraZeneca India tank 11% The shares of AstraZeneca India were down 10% after the late-stage studies of its COVID-19 vaccine were put on a temporary hold as the company is investigating if the patient who suffered serious side effects had anything to do with their vaccine trial shots. Wipro The IT major Wipro was the top gainer in the Nifty pack. The shares of Wipro were up2% despite the volatility in the market. The company has announced its plans to set up a digital innovation hub at Dusseldorf in Germany, which it said would serve as its major’s flagship centre in Europe. Reliance Industries shares rise after Silver Lake investment The shares of RIL were trading nearly percent higher after the company announced that its subsidiary Reliance Retail had raised a $1 billion investment from Silver Lake. With the investment, <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms">Silver Lake takes up 1.75% equity in Mukesh Ambani’s </a>retail venture. Bharat Dynamics shares trade in red for the second day The shares of Bharat Dynamics were trading 4% lower for the second day in a row after the government announced that it is looking to sell over 2.74 crore shares of the company at a floor price of ₹330 apiece. Although its offer for sale received an overwhelming response on day one and was subscribed 1.40 times by non- retail investors. Future Consumer shares down 2% The shares of Kishore Biyani led Future Consumer were down 2% after the company reported ₹68.4 crore loss for the first quarter ended June 30. The overall revenue was down 63.7% to ₹380.5 crore. Other Future Group subsidiaries are also trading lower today - Future Retail down 5%, Future Lifestyle Fashions down 5%, among others. IDBI Bank was down 2% The shares of IDBI Bank were down 2%. The bank sold the remaining 1 million shares amounting to 0.21% stake in the National Stock Exchange of India. Asian Paints among top Nifty gainers The shares of India’s largest paint manufacturer was up 0.75%. This after the brent crude slipped below $40 for the first time since June 30. Brent crude is one of their key ingredients in the manufacturing of oil paints. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms" data-type="tilCustomLink">Reliance Retail raises $1 billion from Silver Lake valuing the chain at $57 billion</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-astrazeneca-future-retail-future-consumer-teamlease-spicejet-asian-paints-bharat-dynamics-happiest-minds-ipo-and-route-mobile-ipo/articleshow/78008341.cms" data-type="tilCustomLink">Top stocks to watch— RIL, Astrazeneca, Future Retail, Future Consumer, TeamLease, Spicejet, Asian Paints, Bharat Dynamics and more</a>

Top stock movers — Reliance Industries, Future Retail, Wipro, Asian Paints, IDBI Bank, Bharat Dynamics, Future Consumer and more

<ul><li>The India benchmark index Sensex was trading 0.16% lower; while the Nifty was up about 6 points at 10:00 am on September 8.</li><li>These were the top losers and gainers in the Nifty pack.</li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market began on a cautious note on Tuesday, amidst lack of cues from global peers. The India benchmark index Sensex was trading 0.16% lower; while the Nifty was up about 6 points at 10:00 am on September 8. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of September 8, 9:55 am These are the top stocks that are buzzing in trade today IRCTC shares gained 3% after stake sale report The shares of Indian Railways and Tourism Corporation gained nearly 3% after <a href="https://www.timesnownews.com/business-economy/companies/article/government-plans-to-sell-15-20-in-irctc-via-offer-for-sale-report/649088">news reports surfaced</a> that the union government which holds 87.40% stake in IRCTC is reportedly planning to sell 15-20% of its stake via offer for sale. Bharat Dynamics shares plunge 13% The shares of Bharat Dynamics lost nearly 13% in a few minutes of trading. This comes a day after the union government announced that it is looking to sell 15% of its stake in the company. The government currently owns 87.75% of the company’s stake, and it is looking to offload 2.71 crore shares at a floor price of ₹384.50. Future Enterprises shares down 5% The shares of Future Enterprises lost 5% on September 8 after the parent organisation reported a consolidated net loss of ₹394.77 crore for the fourth quarter ended March 31. Other Future Group subsidiaries are also trading lower today - Future Retail down 5%, Future Lifestyle Fashions down 5%, Future Consumer was down 4%, among others. Shriram City Union Finance shares trading 5% higher The shares of Shriram City Union Finance were trading 5% higher after Arkaig Acquisition (FPI) bought nearly 12.23 lakh shares in the company at ₹965 per share. Parag Milk and Foods shares were down 3% The shares of Parag Milk and Foods were trading 3% lower on September 8 after the company reported a 88% fall in its profit to ₹3.23 crore. The board has also approved raising ₹ 230 crore via sale of non-convertible debentures. Non-convertible debentures can’t be converted into shares or equities. Info Edge shares gain 3% in a volatile market Info Edge shares were trading 3% higher after the company reported a 24.7% jump in its India standalone net profit to ₹83.2 crore for the first quarter ended June 30. Reliance Industries shares trading 1% higher The shares of Mukesh Ambani owned RIL was trading 1% higher on September 8 after<a href="https://www.business-standard.com/article/companies/reliance-industries-taps-facebook-kkr-for-investment-in-retail-biz-120090701604_1.html"> news reports surfaced that RIL</a> is in preliminary talks with Facebook and private equity fund KKR for investments in its retail business. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-sbi-hdfc-bank-icici-bank-future-retail-future-enterprises-indian-overseas-bank-bharat-dynamics-parag-milk-info-edge-and-more/articleshow/77989128.cms" data-type="tilCustomLink" style="">Top stocks to watch— SBI, HDFC Bank, ICICI Bank, Future Retail, Future Enterprises, Indian Overseas Bank, Bharat Dynamics, Parag Milk, Info Edge and more</a> <a href="https://www.businessinsider.in/stock-market/news/a-wall-street-strategist-that-nailed-last-weeks-sell-off-says-the-only-path-to-a-sharply-higher-stock-market-is-a-dot-com-like-bubble/articleshow/77949963.cms" data-type="tilCustomLink">A Wall Street strategist who nailed last week's sell-off says the only path to a 'sharply higher' stock market is a dot-com-like bubble</a>

Top stock movers — Future Retail, IRCTC, Reliance Industries, Tech Mahindra, HCL, Infosys, Future Enterprises and more

<ul><li>Airtel, Infratel among others have placed bids for the assets of Reliance Communication. </li><li>However, Reliance Jio has still not placed a bid. </li><li><keyword id="46907" type="COMPANY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> has total assets worth ₹40,721 crores. </li></ul><keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s Reliance Communications which is currently undergoing bankruptcy proceedings might have relief in store for its lenders. Unlike many high profile bankruptcies like Jet Airways which are finding it tough to get bidders, six companies including Airtel have bid for RCom’s <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/airtel-submit-bids-for-rcom-spectrum-jio-seeks-deadline-extension-by-10-days/articleshow/72027456.cms">asset</a>s. However, many expected his brother Mukesh Ambani’s Reliance Jio to bid for the spectrum, fiiber and tower assets of RCom. Jio which had bid for the assets before RCom went into bankruptcy had to take it back, after the status of the indebted telecom company changed. But this time around, Jio has not placed a bid yet, and instead sought for an extension to the November 11 deadline. The bankrupt Reliance Communications reportedly has total assets worth ₹40,721 crore, according to Moneycontrol. According to <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/reliance-communications-may-complete-rs-25000-cr-assets-sale-by-aug-end-to-pay-ericsson-rs-550-crore/articleshow/65292722.cms?from=mdr">reports</a>, Rcomm’s assets include airwaves in 14 telecom circles, 43,000 telecom towers, licence for its 800 MHz 4G spectrum (that is set to expire in July 2021), along with other real estate. Jio had earlier bought optic fibre and assets for ₹3000 crore and media convergence nodes and infrastructure for ₹2000 crore. In May 2019, Reliance Communications moved to the National Company Law Tribunal to file for bankruptcy. It had saddled a total debt of ₹46,000 crore, and had been trying to sell assets to pay off some of it long before it landed into insolvency.

You Searched For "Reliance Infratel" and got 12 results

Reliance Infratel resolution plan approved by NCLT Mumbai – Jio to pick up the tower unit

IANS

RCom's lenders are close to resolve the unpaid loans; to recover ₹23,000 crore

PTI

Top stocks to watch — Future Retail, RIL, Bharti Infratel, Airtel, Wipro, Dabur, DHFL, SpiceJet, and others

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Top stock movers — RIL, Future Retail, Ircon International, Dr Reddy's Lab, ONGC, HDFC and more

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Anil Ambani looks to trim debts, offers 51% stake in Reliance Infratel

BI India Bureau

Reliance Jio likely to bag Reliance Infra's mobile tower, optical fibre for Rs 3,600 cr

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CCI approves Reliance's divestment of Jio tower assets

PTI

Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale

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Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

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Top stock movers — Reliance Industries, Future Retail, Wipro, Asian Paints, IDBI Bank, Bharat Dynamics, Future Consumer and more

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Top stock movers — Future Retail, IRCTC, Reliance Industries, Tech Mahindra, HCL, Infosys, Future Enterprises and more

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Bharti Airtel treads where Reliance Jio is measuring its steps – RCom’s assets

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