Reliance Industries: The billionaire Mukesh Ambani-owned company has received the board approval for the acquisition of 100 percent equity shares of MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV from MSEB Solar Agro Power. The acquisition move is in line with the terms of the tender awarded to Reliance for setting up an aggregate solar capacity of 128 MW spread across various locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The acquisition is expected to be completed by the end of April 2024.
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Eicher Motors: The company has incorporated a wholly-owned subsidiary, Royal Enfield Europe BV in the Netherlands, to increase the non-motorcycle supply chain in Europe.
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Mankind Pharma: Investor Beige is likely to sell up to a 2.90 percent stake in a pharma company via block deals, reports CNBC-TV18, quoting sources. The offer price is in the range of Rs 2,103-2,214 per share, which is a discount of 0-5 percent to Friday's closing price. Currently, Beige holds a 2.99 percent stake in Mankind.
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One 97 Communications: Praveen Sharma has resigned as SVP, Business, of the company to pursue other opportunities. He will be relieved from the services of the company with effect from March 31, 2024.
Maruti Suzuki India: The country's largest car maker has recalled 11,851 units of Baleno and 4,190 units of WagonR manufactured between July 30, 2019 and November 1, 2021. There is a possible defect in a part of the fuel pump motor, which, in a rare case, may lead to engine stalling or an engine starting issue. Meanwhile, Maruti invested Rs 1.99 crore in Amlgo Labs, a technology-led startup, for over 6.44 percent of its shareholding.
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Hindustan Aeronautics: The company has signed a contract with the Guyana Defence Force (GDF) and the Guyana Government for the supply of two Hindustan-228 commuter aircraft along with the Manufacturer Recommended List of Spares (MRLS), ground handling equipment and ground support equipment, training, and hand-holding at a total value of MUSD 23.37 (approximately Rs 194 crore).
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NTPC: On achievement of approved norms, the country's largest power generation company has declared commercial operation of the Chatti Bariatu coal mining project in Jharkhand with effect from April 1, 2024.
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Rail Vikas Nigam: The state-run railway company has signed a MoU with the Airports Authority of India (AAI) for the construction of a subway or underpass to connect the operational area to the Airport Authority of India residential colony in Kolkata. The estimated cost of the project is Rs 229.43 crore.
UltraTech Cement: The company has commissioned 1 mtpa (million tons per annum) of brownfield cement capacity at Roorkee, Uttarakhand. With this, the capacity of said unit has been increased to 2.1 mtpa and the total grey cement manufacturing capacity in India to 138.39 mtpa.
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Crompton Greaves Consumer Electricals: The company has granted a patent for an invention, a multistage centrifugal pump with hybrid diffusion technology, for 20 years, effective October 10, 2014.
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ICICI Securities: The Securities and Exchange Board of India (SEBI) has issued an administrative warning to ICICI Securities after the inspection of books and records for the merchant banking activities of the company conducted in December 2023. There is no impact on the financial, operational, or other activities of the company due to the administrative warning letter.
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Dr Reddy’s Laboratories: The pharma major has entered into a license agreement with US-based biopharmaceutical company Pharmazz, Inc. to commercialize Centhaquine in India. Centhaquine, developed by Pharmazz, is a resuscitative agent indicated for the treatment of hypovolemic shock.
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Welspun Corp: Welspun's associate company, East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s leading manufacturer of HSAW Pipes, has signed a mutual agreement with Aramco to cancel an SAR 153 million (approximately Rs 339 crore) contract. The cancellation of the contract has no impact on EPIC. EPIC's substantial order backlog is mainly linked to ongoing gas and water transmission projects.
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Lupin: The company plans to carve out its trade generics business in India as a going concern, on a slump sale basis, to subsidiary Lupin Life Sciences (LLSL) for Rs 100–120 crore. The company will enter into a business transfer agreement with LLSL in Q1 FY25, and the transaction is expected to be completed by June 2024.
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Union Bank of India: Rajnish Khare has resigned as Chief Digital Officer (on a contract basis) of the bank with effect from April 12, 2024. Meanwhile, Anil Kuril has been given additional responsibility as head of the digitization department of the bank. Currently, Anil Kuril is the Chief General Manager and Chief Technology Officer of the bank.
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Hinduja Global Solutions: The IT services management company has entered into an agreement to sell its optical fiber assets to Indusind Media and Communications (IMCL), a subsidiary of the company, for Rs 208.04 crore. Meanwhile, subsidiary Hinduja Global Solutions UK (HGS UK) has become a guarantor and subordinated creditor for the issuance of a bank guarantee for the release of $45 million by Betaine BV to HGS International, Mauritius, consequent to the sale of healthcare businesses in January 2022. The guarantee will be valid until October 31, 2026.
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Fortis Healthcare: Fortis Hospitals, a material subsidiary of the company, has received an income tax assessment order for Assessment Year 2022–23. The Income Tax Department raised a demand of Rs 89.53 crore. The company is evaluating the said order and will take appropriate action in due course.
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Indoco Remedies: Warren Remedies, a wholly owned subsidiary of the company, has commenced its commercial production from its greenfield manufacturing facility at Aurangabad, Maharashtra, to manufacture pharmaceutical intermediates and active pharmaceutical ingredients (APIs).
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JSW Energy: JSW Renewable Energy (Coated), a wholly-owned subsidiary of JSW Neo Energy and a step-down subsidiary of the company, has agreed to acquire 45 MW of renewable energy generation capacity from Reliance Power in Maharashtra. The transaction values the project at Rs 132 crore, adjusted for net working capital.
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Exide Industries: The automotive battery manufacturer has invested Rs 110 crore in subsidiary Chloride Metals through a subscription of equity shares on a rights basis. There is no change in the shareholding percentage of the company in Chloride Metals post-investment. Meanwhile, Chloride Metals has received an income tax assessment order for the assessment year 2022-2023, which has resulted in a tax demand of Rs 133.03 crore.
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Shipping Corporation of India: The company has transferred all its 16 non-core assets in Kolkata to Shipping Corporation of India Land & Assets. Shipping Corporation of India Land & Assets listed on the bourses with effect from March 19, 2024.
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Sanghi Industries: Ambuja Cements, the promoter of the company, has sold 51,66,000 equity shares in the open market, which is about 2 percent of the paid-up equity, in order to achieve the minimum public shareholding. With this, Ambuja's shareholding in the company came down to 60.44 percent, from 62.44 percent earlier.
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NBCC: The state-owned construction company has conducted the 25th auction for the sale of commercial space in the World Trade Centre, Nauroji Nagar, New Delhi, on March 22, 2024, as PMC and Marketing Consultant on behalf of the Ministry of Housing and Urban Affairs, Government of India. The company has sold a total unsold commercial inventory of 4.79 lakh square feet with a sale value of Rs 1,904.81 crore, out of which 0.41 lakh square feet of area with a sale value of Rs 164.2 crore has been sold to private entities. So far, the company has sold a total unsold commercial inventory of 30.08 lakh square feet through an open e-auction with a sale value of Rs 12,106.13 crore.
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Kesoram Industries: The company said its Fund Raising Committee will be meeting on March 28 to consider raising funds via the issuance of non-convertible debentures on a private placement basis.
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Uno Minda: The automotive systems and solutions provider has entered into a technical license agreement with Starcharge Energy Pte Ltd. to manufacture and sell electric vehicle supply equipment in India. The electric vehicle supply equipment consists of wall-mounted AC chargers designed for convenient home charging. With this partnership, Uno Minda further builds up on its EV-specific product portfolio for the passenger car market.
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Wonderla Holidays: The company has received, in principle, approval from the board for exploring the possibility of setting up an adventure park as an expansion of the Bangalore resort. It will evaluate the financial viability of the adventure park.
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Wherrelz IT Solutions: Sumanlata Dhareshwar has resigned from the post of Chief Financial Officer of the company with effect from March 22. PB Shetty & Co., a chartered accountant, has resigned as the statutory auditor of the company.
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Schaeffler India: The board of directors has given its approval for the re-appointment of Harsha Kadam as the managing director and CEO of the company for three years, with effect from October 1, 2024. The re-appointment of Harsha Kadam as MD and CEO is subject to the approval of the shareholders.
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Dredging Corporation of India: The board of directors has given approval for the appointment of Durgesh Kumar Dubey as Managing Director and CEO (additional charge), Additional Director of the company. The board also extended the directorship of S. Divakar, the present MD and CEO of the company, for one month until April 29, 2024. After the joining of Durgesh Kumar Dubey, S. Divakar will cease to be the MD and CEO of the company.
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Mangalore Refinery & Petrochemicals: Mundkur Shyamprasad Kamath has been appointed as Chief Executive Officer of the company with effect from March 22, 2024. Currently, Mundkur Shyamprasad Kamath is the managing director of the company.
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Solara Active Pharma Sciences: The company has received approval from the board for the sale of 100 percent of its shareholding in the wholly owned subsidiary Sequent Penems.
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Hindustan Unilever: The FMCG major has completed the acquisition of 22.33 percent of Transition Sustainable Energy Services One (SPV) for Rs 2,23,300 for the first tranche.
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Zydus Lifesciences: Zydus Family Trust, the member of the promoter group of the company, intends to sell a 0.06 percent stake (6.23 lakh shares) in the company via open market transactions to comply with the minimum public shareholding norms.
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Ceinsys Tech: The company has received a work order worth Rs 6.4 crore from the Industries Department of Maharashtra (MIDC) for the supply and implementation of AutoCAD Upgrade and the New Multi-User License QTY 100. Meanwhile, Rahul Joharapurkar has resigned from the post of Director and Joint Managing Director of the company with effect from March 30, 2024.
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Asian Hotels (North): Shreya Agarwal, along with Suresh Kumar Agarwala and Kanta Agarwala, the public shareholders, picked up an 18.9 percent stake in Asian Hotels (North) via open market transactions on March 20. Promoter Yans Enterprises (HK) sold 20.97 percent shares in the company to Shreya Agarwal and Manohar Tikamdas Ruprell on March 20 and a further 6.46 percent stake to Narendrakumar Rameshchandra Raval on March 21. Another promoter, Fineline Holdings, sold a 5.26 percent stake in the company to DBS Bank, Singapore, and further 17.84 percent shares to Narendrakumar Rameshchandra Raval on March 21. With this, Fineline Holdings and Yans Enterprises (HK) exited the company by selling personal shareholding, while as of December 2023, Shreya Agarwal held a 2.98 percent stake in the company.
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Paradeep Phosphates: The Central Pollution Control Board has issued a closure of operation notice to the company's plant in Odisha due to non-compliance with certain conditions. The plant is already shut down for annual maintenance activities. Hence, there is no major financial impact.
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KP Energy: The company has commissioned a 16.8 MW (Phase-VIII) ISTS-connected wind power project at the Sidhpur site in Devbhoomi, Dwarka. This Phase-VIII commissioning is part of the 250.8 MW ISTS connected wind power project capacity awarded to Apraava Energy by the Solar Energy Corporation of India under Tranche-VIII bidding. KP Energy is developing the project for Apraava Energy as a contractor under the Land and Balance of Plant Contract.
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Sejal Glass: Investor Green Portfolio bought 1,23,699 equity shares (equivalent to 1.22 percent of paid-up equity) in the company at an average price of Rs 330.4 per share, while Chandrakant Vallabhji Gogri, part of the promoter group, offloaded 1,51,931 shares (1.5 percent stake) at an average price of Rs 330.55 per share.
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Ind-Swift Labs: Wilson Holdings bought 49.45 lakh equity shares in the company at an average price of Rs 100.25 per share via open market transactions. However, Edelweiss India Special Situations Fund II, EC Special Situations Fund, and EISAF II Onshore Fund sold 60 lakh shares in the company, valued at a little more than Rs 60 crore.
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Capacite Infraprojects: Promoter Subir Malhotra sold 25.25 lakh equity shares in the company (equivalent to 3.29 percent of paid-up equity) via open market transactions. Investor Paragon Partners Growth Fund sold 7.5 lakh shares in the company at an average price of Rs 275 per share. However, Valiant Mauritius Partners Offshore and Valiant Mauritius Partners bought 37,69,108 equity shares (equivalent to 4.91 percent of paid-up equity) at an average price of Rs 274.92 per share, valued at Rs 103.62 crore.
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R. K. Swamy: The company will release its earnings scorecard for the quarter ended December FY24 on March 26. This will be the first quarterly earnings by the company after listing on the bourses.
