Dr Reddy’s Laboratories: The pharma major said it has inked a pact with US-based Citius Pharmaceuticals to sell its rights to an anti-cancer agent. The drug firm said it has entered into a definitive agreement with Citius to sell all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.
Hero Motocorp: The two-wheeler major announced opening of bookings for the next batch of Harley-Davidson adventure tourer bike ‘Pan America’ 1250 after the first lot completely sold out.
Coal India: The state-owned coal miner said it has launched a software which will help in identifying thin coal seams under the earth crust and improve assessment of resources of fossil fuel using seismic survey during exploration process.
NTPC: The state-owned power company will seek shareholders’ approval to raise Rs 18,000 crore through the issuance of bonds or debentures in its annual general meeting on September 28. has proposed to raise funds up to Rs 18,000 crore through the issue of bonds/debentures on a private placement basis, said a notice.
Grasim Industries: Aditya Birla Group flagship firm has appointed Hari Krishna Agarwal as its Managing Director with effect from December 1, 2021, following request for early retirement by incumbent Dilip Gaur, according to a regulatory filing.
Corporation: The state-run utility player said it has started work to set up the first electric vehicle charging station in Meghalaya. The company said it has laid down the foundation stone for first ever electric vehicle charging station (EVCS) at its office complex at Lapalang, Shillong on Friday.
Jindal Steel and Power: The steel maker expects to conclude the deal to sell its 96.42 per cent stake in its arm Jindal Power for Rs 7,401 crore to a promoters-owned firm Worldone by this year end. More than 97 per cent shareholders of the company approved the proposal to sell 96.42 per cent stake the company holds in Jindal Power.
Sterlite Technologies: The digital networks integrator’ board-approved committee, which is looking into road map for reorganisation of the businesses in a tax and regulatory efficient manner, is expected to give its recommendations by mid-November, a top official said.
Mahindra & Mahindra Financial Services: Tje Mahindra group’s NBFC said it has disbursed over Rs 2,000 crore for the second time in a row in August. In August 2021, the business continued its momentum with a disbursement of more than Rs 2,000 crore for the second month in a row.
ICICI Lombard General Insurance Company: The general insurer said sectoral regulator Irdai has given its final approval for the demerger of the general insurance business of Bharti AXA General Insurance to itself by way of a scheme of arrangement.
Jammu & Kashmir Bank: The Reserve Bank has accorded approval to Jammu & Kashmir government to acquire over 16.76 crore shares in J&K Bank on preferential basis. The RBI letter has accorded approval to Government of Jammu & Kashmir to acquire 16,76,72,702 fully paid-up equity shares on preferential basis, J&K Bank said in a regulatory filing.
Petronet LNG: India’s largest gas importer plans to set up a petrochemical complex at Dahej in Gujarat as it looks to make a foray into high margin business to hedge gas trading risks, Oil Secretary Tarun Kapoor said.
Bank of India: The state-owned lender said LIC has picked up nearly 4 per cent equity shares of the bank through an open market transaction a day earlier. LIC has picked up nearly 3.9 per cent (15,90,07,791 shares) of the bank through open market acquisition on September 2, 2021,
said.
Barbeque Nation Hospitality: The restaurants chain said it has raised nearly Rs 100 crore through preferential issue of equity shares to three different investors, including Massachusetts Institute of Technology.
Tourism Finance Corporation of India: The state run travel company said it is planning to raise Rs 65.18 crore from a group of investors. The board has approved a capital raise proposal by way of issue of up to 96.55 lakh shares of the face value of Rs 10 each at an issue price of Rs 67.50, the company said.
Punjab National Bank: The public sector lender has moved the Insolvency appellate tribunal NCLAT against the approval of bids for defunct airline Jet Airways. The National Company Law Appellate Tribunal bench has issued a notice over the PNB’s petition along with its interim plea seeking a stay over the execution of the resolution plan.
McDowell Holdings: The Recovery Officer of Debt Recovery Tribunal (DRT) on Friday offloaded shares of the brewery maker worth nearly Rs 31 lakh, through an open market transaction. According to the bulk deal data on the NSE, Recovery Officer I DRT II sold 81,991 scrips of McDowell Holdings at an average price of Rs 37.63 apiece.
HFCL: The domestic telecom gear maker on Friday said it has received its board’s consent to raise up to Rs 750 crore through equity, bonds, debentures or any other securities after approval from shareholders and relevant authorities.
Future Comsuer: Expecting consumer behaviour of shifting to online shopping due to the COVID-19 pandemic to remain in the long term, Future Consumer Ltd (FCL) is focusing on changing orientation of all business and brand activities to make them Digital First, according to the company’s annual report for 2020-21.
