ITC: The FMCG conglomerate said it will acquire a 16 per cent stake in Mother Sparsh, a D2C Ayurvedic and natural personal care brand, for Rs 20 crore through a share subscription agreement. Mother Sparsh is a premium Ayurvedic and natural personal care start-up in the D2C space, focusing on mother and baby care segments.
Telcos: Following the footsteps of Vodafone Idea and Bharti Airtel, Reliance Jio announced up to 21 per cent hike in its prepaid tariffs from the next month. Despite the increase in rates, Jio has kept the price of plans lower than Airtel and Vodafone Idea.
Coal India: The dispatch of coal to the power sector by state-owned miner rose 22.7 per cent to 291.72 million tonne (MT) in the first seven months of the ongoing fiscal year. Coal India Ltd (CIL) had dispatched 237.75 MT of coal to the power sector in April-October period of 2020-21.
Vedanta: The holding company of the miner has raised $800 million (Rs 6,000 crore) by pledging shares in the company. Promoter group firms pledged 242.26 crore or 65.18 per cent shareholding in Vedanta Ltd in three facility agreements to raise the money.
Tata Steel: The domestic steel giant will focus on augmenting iron ore production from 30 million tonne per annum to 45 mtpa in the next five years. The total iron ore production from the steelmakers’ captive mines in Noamundi in Jharkhand and in Katamati, Joda and Khondbond blocks in Odisha, is about 30 mtpa.
One97 Communications: Financial technology firm reported widening of consolidated loss to about Rs 473 crore in the second quarter ended September 2021, mainly on account of increase in payment processing charges. The company had posted a loss of Rs 436.7 crore in the same quarter a year ago.
IndusInd Bank: The Hindujas, who had earlier applied to RBI seeking to increase their holding in the lender, welcomed the RBI move to allow promoter holding of up to 26 per cent in private sector lenders.
Voltas: The domestic air-conditioner maker
plans to set up a compressor manufacturing unit in partnership with an international partner and will invest around Rs 500 crore. The Tata Group firm is planning to invest in a joint venture.
Colgate-Palmolive: The FMCG player has introduced a sustainable innovation to the oral care industry with launching of 100 per cent recycled plastic handle toothbrush. The company had recently unveiled the country’s first recyclable toothpaste tubes.
Macrotech Developers: The Realty firm, which has projects in Mumbai and Pune regions, is looking to enter the Bengaluru market to tap huge property demand in the IT city and will invest Rs 3,000 crore equity capital for growth as it aims to increase its annual sales bookings by almost three times to Rs 20,000 crore by 2025-26.
Kamdhenu: The buildings material maker plans to list its paints entity on bourses following the completion of the demerger process.
is in the process of separating its steel and paints business with an aim to increase its reach and customer base in the market.
Holdings: Shareholders of the investment company have rejected the proposals to appoint two independent directors and a non-executive director for the company.
GHCL: The leading chemical and textile company would invest Rs 500 crore in Tamil Nadu and a memorandum of understanding was signed with the government to this effect.
Capacit’e Infraprojects: The real estate player said ratings agency Ind-Ra has upgraded its long-term issuer rating to stable. “India Ratings and Research (Ind-Ra) has improved its Long-Term Issuer Rating to IND BBB which is stable from IND D which was defaulter (assigned earlier),” it company said.
Welspun Corp: The company has acquired entire share capital of Mahatva Plastic Products and Building Materials Private Limited, a newly incorporated company with objects of Polymer products business, from an unrelated party for Rs 10,000 with an intention to make it a Special Purpose Vehicle for organic / inorganic growth.
Bhageria Industries: The company has completed acquisition of 51% equity shares of Bhageria and Jajodia Pharmaceuticals. BJPPL has become a subsidiary of the company.
Sterlite Technologies: The company has completed the divestment of minority stake in Metis Eduventures.
