Reliance Industries: Mukesh Ambani led oil, telecom and retail conglomerate has incorporated a new subsidiary in the UAE for trading in crude oil, petroleum products and agricultural commodities.
Zee Entertainment Enterprises: The media major said it has moved the Bombay High Court against the requisition of minority shareholders, Invesco and OFI Global China Fund, to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of Managing Director Punit Goenka.
NTPC: The state-run power giant has drawn a Rs 15,000 crore divestment plan which includes a listing of its arms NTPC Renewable Energy, North Eastern Electric Power Corporation and NTPC Vidyut Vyapar Nigam.
Hero MotoCorp: The country’s largest two-wheeler maker reported a 25.9 per cent dip in total sales to 5,30,346 units in September.The company had sold 7,15,718 units in the same month of the previous year.
Coal India: The state-owned miner’s coal production registered a marginal rise to 40.7 million tonnes in September. The development assumes significance in the wake of country’s power plants grappling with coal shortages.
Vodafone Idea: The telecom operator announced the elevation of Abhijit Kishore as its chief operating officer. He will succeed Ambrish Jain, who will be superannuating at the end of this month.
Tech Mahindra: The IT major will acquire IT consultancy service provider Beris Consulting Gmbh for 7 million euros or about Rs 60 crore through its German subsidiary.
Tata Motors: The homegrown auto player said its total domestic wholesales increased 26 per cent year-on-year to 55,988 units in September. The company had dispatched a total of 44,410 units to its dealers in September 2020.
Avenue Supermarts: The owner and operator of retail chain D-Mart has reported a 46.6 per cent increase in its standalone revenue from operations at Rs 7,649.64 crore for the second quarter ended September 2021.
Federal Bank: The private sector lender said it has posted a 10 per cent growth in advances at Rs 1,37,309 crore for the second quarter ended September 30. Total advances stood at Rs 1,25,209 crore at the end of the second quarter of the last financial year.
BSE: The leaading stock exchange is ready with its technology to introduce electronic gold receipts (EGRs) on its platform, which will help in creating uniform price structure of the yellow metal across the country.
Pfizer: The drug firm said it has entered into an agreement with Mylan Pharmaceuticals to sell its Upjohn business for Rs 180.48 crore.
Jammu and Kashmir Bank: The state owned lender said it has received shareholders’ nod to raise up to Rs 2,000 crore through equity and debt to fund its business. The shareholders at the annual general meeting on Friday approved the plan to raise equity and debt capital of up to Rs 1,000 crore each.
NIIT: The skills and talent development company said it has acquired a 70 per cent stake in RPS Consulting for Rs 82.3 crore. The remaining 30 per cent shareholding will be acquired by NIIT from the promoters of RPS Consulting in subsequent tranches.
Ceat: The tyre manufacturer said it is increasing its stake in Tyresnmore Online, a digital platform for purchasing tyres and fitting services, to 46 per cent with a further investment of Rs 1.4 crore.
Birla Corp: Kolkata-based MP Birla Groups flaghsip company said shareholders have approved resolutions supported by the management with an majority at its AGM, even as investment firm Punjab Produce and Trading Company alleged fraudulent practice in the process and threatened to take legal recourse.
Ashok Leyland:
group’s flagship firm reported a 14 per cent rise in total sales of commercial vehicles to 9,533 units in September. The company had sold a total of 8,332 units in September last year.
Indian Energy Exchange: The leadeing exchange for power recorded a 59 per cent year-on-year jump in the total traded electricity volumes to 8,997 million units (MU) in September. The IEX traded 8,997 MU electricity volume and achieved a 59 per cent year-on-year growth in September 2021.
Natco Pharma: The drug firm said its marketing partner Breckenridge Pharmaceutical, Inc has launched generic Everolimus tablets in 10 mg strength in the US market.
Ashiana Housing: The tealty firm has acquired nearly 16 acres of land from
in Chennai to develop a senior living housing project with an expected sales revenue of over Rs 600 crore in the next six years.
Pharma Stocks:
Pharmaceuticals and are recalling multiple products in the US market due to various reasons like deviation from standard manufacturing protocols and presence of foreign substance in one of the affected lots.
Kinetic Engineering: The Pune-based auto player clarified that the rejection by shareholders of a proposal to increase remuneration of its Managing Director Ajinkya A Firodia through e-voting in the recently concluded annual general meeting was due to a technical glitch.
