UltraTech Cement: The Competition Commission of India has given its approval to the acquisition of Kesoram Industries' cement business by UltraTech from Kesoram Industries. The board of directors of the company approved this acquisition in November 2023.
2/23
Adani Enterprises: The Adani Group company said subsidiary Adani Tradecom has acquired a 49 percent stake in Adani Green Technology from Adani Trading Services LLP. Hence, Adani Green Technology (AGTL) has become a (step-down) wholly owned subsidiary of Adani Enterprises. With this, Mundra Solar, a wholly owned subsidiary of AGTL, has also become a (step-down) wholly owned subsidiary of the company.
3/23
Tata Consultancy Services: Central Bank, a leading Midwest regional bank in the US, will use TCS's BaNCS, the universal financial solution, to update its core technology infrastructure, drive innovation, and strengthen customer relationships. Central Bank’s strategic partnership with TCS aims to create frictionless and flexible customer onboarding processes, enabling continued growth for the bank.
4/23
HDFC Bank: The lender has sold 14,01,72,180 equity shares of HDFC Credila to Kopvoorn BV, Moss Investments, Defati Investments Holding BV, and Infinity Partners for Rs 95,52,73,40,670. Accordingly, HDFC Credila has ceased to be a subsidiary of HDFC Bank.
Vodafone Idea: ATC Telecom Infrastructure has requested Vodafone for the conversion of 14,400 optionally convertible debentures, amounting to Rs 1,440 crore, into 144 crore fully paid-up equity shares of Vodafone Idea. In February 2023, Vodafone issued optionally convertible debentures (OCDs) amounting to Rs 1,600 crore to ATC Telecom after receiving approval from the shareholders. In August 2023, the term of redemption of the first tranche of OCDs amounting to Rs 800 crore was extended by 12 months.
6/23
Bharti Airtel: As a part of internal re-alignment, the telecom operator will purchase a 95 percent shareholding in Airtel Limited, a step-down wholly-owned subsidiary company, from another wholly-owned subsidiary company and transfer its entire shareholding in subsidiary Nxtra Data to Airtel Limited. In addition, Bharti Hexacomm, the unit of Bharti Airtel, has received approval from the capital markets regulator SEBI to float an IPO.
7/23
Aurobindo Pharma: The pharma company has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Mometasone Furoate Monohydrate nasal spray, 50 mcg/spray. This is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Nasonex Nasal Spray of Organon LLC. The product will be launched in Q1 FY25. Mometasone Furoate Monohydrate nasal spray is used for the treatment of the nasal symptoms of seasonal allergic and perennial allergic rhinitis.
8/23
Indian Railway Finance Corporation: Swachhand resigned as Deputy General Manager (Finance) and Chief Risk Officer (CRO) of the company, with effect from March 20.
Apollo Hospitals Enterprise: Madhu Sasidhar would be re-designated as President and Chief Executive Officer of the Hospitals Division, with effect from April 1, 2024. Currently, Madhu Sasidhar is designated as the Chief Strategy Officer of the company. K. Hariprasad, who is currently President of the Hospitals Division, will retire from the services of the company with effect from March 31, 2024.
10/23
Shakti Pumps: The submersible pump manufacturer has opened its QIP (qualified institution placement) issue to raise up to Rs 200 crore on March 19. The floor price has been fixed at Rs 1,272.09 per share.
11/23
SBI Cards and Payment Services: The company has declared an interim dividend of Rs 2.50 per share for the current financial year (FY24).
12/23
Persistent Systems: The IT services company has executed a Share Purchase Agreement (SPA). As per the SPA, the 100 percent shareholding of Persistent Systems UK will be transferred from Aepona Group, Ireland, to the company for 7,430,000 pounds. Both are step-down subsidiaries of the company.
13/23
Yes Bank: The lender has transferred stressed loan exposure in Katerra India to asset reconstruction company Prudent ARC for Rs 203.40 crore.
14/23
Aditya Birla Sun Life AMC: Promoters Aditya Birla Capital and Sun Life (India) AMC Investments Inc. decided to exercise the oversubscription option (greenshoe option) to the extent of 4.47 percent of the paid-up equity of Aditya Birla Sun Life AMC, in addition to the base offer size of 7 percent. With this, promoters are offloading up to 11.46 percent of the company via offer-for-sale (OFS) on March 19–20. On March 19, the non-retail portion of OFS will be fully subscribed, while the issue will be opened for retail investors on March 20.
15/23
DCB Bank: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 63.60 lakh on DCB Bank for non-compliance with certain directions related to the interest rate on advances.
16/23
Indian Renewable Energy Development Agency: The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to revoke its decision to include IREDA in the Nifty 500, Nifty Midcap 150, Nifty Midcap 100, Nifty 200, Nifty LargeMidcap 250, Nifty MidSmallcap 400, Nifty Total Market, and Nifty 500 Multicap 50:25:25 indices with effect from March 28, 2024. IREDA breached one of the requirements of SEBI Portfolio Concentration Norms for Equity Exchange Traded Funds (ETFs) and Index Funds related to impact cost.
17/23
SKF India: Manish Bhatnagar has resigned as Managing Director of the automotive components maker with effect from April 1, 2024, and has been appointed as Non-executive Non-Independent Director of the company with effect from the same date. The board has appointed Mukund Vasudevan as Additional Director and MD of the company, with effect from April 8, 2024.
18/23
IFCI: The board has given its approval for the preferential issue of equity shares against capital infusion for FY24 aggregating up to Rs 500 crore to the Government of India, subject to the approval of shareholders.
19/23
Protean eGov Technologies: Sudeep Bhatia resigned as Chief Financial Officer of the company. His last working day at the company will be June 14, 2024.
20/23
Time Technoplast: The company has received approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing of a high-pressure Type-IV composite cylinder prototype for hydrogen. The testing of a 1 percent lot of cylinders will be completed in six months’ time.
21/23
Star Health and Allied Insurance Company: ICICI Prudential Mutual Fund has bought 35,74,074 equity shares (equivalent to 0.61 percent of paid-up equity) at an average price of Rs 540 per share via open market transactions, amounting to Rs 193 crore.
22/23
LT Foods: Sunil Singhania's Abakkus Asset Manager LLP has bought 33,93,543 equity shares (equivalent to 0.98 percent of paid-up equity) in the company at an average price of Rs 162.04 per share, valued at nearly Rs 55 crore.
23/23
Pratham AVP Infracon: The company is set to list its equity shares on the NSE Emerge on March 20. The issue price is Rs. 75 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.
