Vedanta has said that it will not undertake any corporate restructure, including demerger and spin-off, and continue with its existing structure. The development assumes significance in the wake of Vedanta’s board in November last year deciding that the company should undertake a review of the corporate structure and evaluate full range of options and alternatives to unlock value and simplify the corporate structure.
IT major Wipro has joined Intel Foundry Services Accelerator – Design Services Alliance, to speed up the chip design cycle. The alliance is geared to spur customer innovation in chip design and manufacturing and turn promising ideas into implemented realities.
Tata Communications on Tuesday said that Eclat Media Group has selected the company to support expansion of sports content broadcasting to viewers across Asian countries, including Indonesia, the Philippines, Malaysia, Singapore and Thailand. The agreement powers Eclat Media Group’s newly launched channels, SPOTV and SPOTV2
ICICI Bank’s shareholding in Fino PayTech (Fino) — the promoter of Fino Payments Bank (Fino Bank) — rose to 7.4 per cent post conversion of 40 lakh convertible warrants of Fino into equity, the bank said on Tuesday. ICICI Bank had 4.6 per cent shareholding (based on voting rights) in Fino. Further, the bank held 40 lakh convertible warrants of Fino, ICICI Bank said in a regulatory filing.
Telecom operator Bharti Airtel’s board on Tuesday gave an enabling approval for raising up to ₹7,500 crore through debt instruments. Bharti Airtel had last month announced that tech titan Google will invest as much as $1 billion in the company for picking up a 1.28 per cent stake and scaling up offerings of India’s second-largest mobile phone operator.
Torrent Power has received a Letter of Intent (LoI) to acquire 51 per cent equity stake in Dadra and Nagar Haveli and Daman/and Diu Power Distribution Corporation Ltd. The company is to be incorporated for holding assets of the Electricity Department, Daman and Diu and DNH Power Distribution Corporation Ltd related to electricity distribution business.
Leading stock exchange BSE on Tuesday reported an 86 per cent jump in net profit to ₹58.58 crore in the three months ended December 2021. It had posted a net profit of ₹31.44 crore in the same quarter of the preceding fiscal, BSE said in a statement. The board of directors of the exchange has recommended issue of two bonus equity shares of ₹2 each fully paid up for every one current equity share.
The board of Thermax has agreed to make an investment of about ₹9.99 crore in Exactspace Technologies Private Limited by subscribing to 1,921 Cumulative Convertible Preference Shares (CCPS) in one or more tranches. Exactspace is engaged in the business of developing artificial intelligence solutions for energy industry. The investment will result in the company holding up to 15.17 per cent of the share capital of Exactspace.
Lupin has has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Arformoterol Tartrate Inhalation Solution 15 mcg (base)/2 ml, Unit-dose Vials to market a generic equivalent of Brovana ® Inhalation Solution, 15 mcg /2 ml of Sunovion Pharmaceuticals Inc. (Sunovion). The drugs had estimated annual sales of $251 million in the US.
PTL Enterprises Ltd has claimed interest amounting to ₹36 crore for delayed period, on compensation amount paid by the GOK for acquisition of Land.
Results Calendar: 3i Infotech, A2Z Infra, Aban Offshore, Abbott India, ACC, Aurobindo Pharma, Aries Agro, AVT Natural, Axis Cades, Balmer Lawrie, BASF, Berger Paints, Bharat Bijlee, Bharat Gears, Birla Cable, Bosch, Creative Eye, DCB Bank, Engineers India, Entertainment Network (India), Essar Shipping, Finolex Cables, FSN E-Commerce Ventures (Nykaa), GMR Infrastructure, HEG, Hindustan Composites, Hitachi Energy India, Indiabulls Housing Finance, Igarashi Motors, Jindal Stainless (Hisar), Kanoria Chem, Kirloskar Oil Engines, Lumax Auto Technologies, Madhucon Projects, Mro-Tek, Navkar Corp, NDTV, Nirlon, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Patel Engineering, Petronet LNG, Procter & Gamble Health, Hitachi Energy India, Power Grid Corporation of India, Prestige Estates Projects, Pricol, SAIL, Sharda Motor, Solara Active Pharma Sciences, Spencers Retail, Sundaram-Clayton, Talbros Automotive Components, , TN Petroproducts, Tata Power, TTK Healthcare and Welspun Specialty Solutions among others.
February 09, 2022