Axis Bank: Axis Bank is pruning its overseas operation as part of a strategy of focusing Indian market. It closed branches in Shanghai and Colombo last month while it is in the process of winding up Hong Kong Branch, senior bank officials said. It is also looking to surrender its UK banking subsidiary license and close operations by April 2021.
SpiceJet: Air freight forwarder Skyways Air Services on Monday said it has joined hands with budget carrier SpiceJet for transporting COVID-19 vaccine across India. Separately, Delhi-based material solutions firm Pluss Advanced Technologies (PLUSS) announced a tie up with SpiceJet for supplying precise temperature control boxes to the dedicated freighter division of the budget carrier for COVID-19 vaccine transportation.
Coal India: State-owned Coal India (CIL) on Monday said it is constructing 21 railway sidings at an estimated investment of Rs 3,370 crore in four of its subsidiaries, an effort towards strengthening its rail infrastructure.
NTPC: State-owned power giant NTPC on Monday said its Dulanga coal mine is commercially operational from October 1, 2020.
Lupin: Drug firm Lupin on Monday said it has launched Meloxicam capsules, used for treating osteoarthritis (OA) pain, in the US market.
3i Infotech: IT firm 3i Infotech Ltd on Monday said it has entered into definitive agreements to sell its software products business to the funds advised by Apax Partners for Rs 1,000 crore. French insurance firm MACSF Epargne Retraite sold its entire stake in the IT firm 3i Infotech, while Standard Chartered Bank trimmed its holdings.
Reliance Capital: Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL’s promoter group at Rs 44.15 per share.
TVS Motor Company: The company said it has introduced the 2021 version of its TVS Apache RTR 160 4V motorcycle model in Bangladesh.
PNB: State-owned Punjab National Bank (PNB) on Monday said it has completed IT integration of all branches of erstwhile United Bank of India with itself.
Sutlej Textiles: The Hindustan Times bought 15,01,063 shares of Sutlej Textiles at Rs 43.45 per share, while Earthstone Holdings (Two) Pvt Ltd sold 15,03, 690 shares of the company at the same price. The latter held 5.98 per cent stake in the company at the end of September.
Fineotex Chemical: Nippon India Small cap Fund bought 66,08,595 shares of Fineotex Chemical at Rs 45.25, while promoter Surendra Deviprasad Tibrewala trimmed some of its 61.99 per cent stake as he sold 78,00,000 shares of the company at Rs 45.22.
Snowman Logistics: Adani Logistics continued to offload shares of Snowman Logistics, as it sold another 32,00,000 shares in the company at Rs 56 per share.
