Tata Power Company:
Tata Power Renewable Energy, a subsidiary of Tata Power, has obtained a Letter of Award (LOA) from SJVN for the development of a 200 MW firm and dispatchable renewable energy (FDRE) project. The installation of the aforementioned project will yearly offset 9 lakh metric tons of CO2 emissions.
Zomato:
According to CNBC TV-18, Alipay is planning to sell a 3.14 percent share in the food delivery company in a block sale for Rs 940 crore. Alipay would sell 29.6 crore shares at a price of Rs 111.28 per share.
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Siemens:
The technology business increased its net profit by 49.8 percent year on year to Rs 571.6 crore for the fiscal quarter ended September FY23, underpinned by topline and operating performance. Revenue from operations surged by 24.7 percent year on year to Rs 5,807.7 crore, while new orders jumped by 12 percent to Rs 4,498 crore during the quarter. EBITDA increased 35.7 percent year on year to Rs 700.2 crore, with a margin increase of 97 basis points. It has proposed a dividend of Rs. 10 per share for the fiscal year. The company announced a Rs 416 crore investment in capacity expansions of power transformers used in power transmission and vacuum interrupters for medium-voltage switchgear used in power distribution.
Bharat Heavy Electricals (BHEL):
BHEL and Electricité de France S.A., France (EDF), a French state-owned business, have signed a Memorandum of Cooperation (MoC) to investigate the possibility of increasing the local content of NPCIL’s Jaitapur nuclear power station project (6×1650 MWe). In addition, BHEL and EDF will look into broader cooperation for European pressurised reactors (EPRs) and the NUWARD SMR (small modular reactor).
GAIL India:
Rajeev Kumar Singhal has been appointed Director (Business Development) of GAIL by the Ministry of Petroleum and Natural Gas. The company’s executive director was Rajeev Kumar Singhal.
Wipro:
The IT services provider has launched a continuous compliance solution based on Amazon Security Lake in collaboration with Amazon Web Services (AWS). This solution is meant to give enterprises with additional capabilities in order to meet regulatory demands.
Havells India:
The consumer durable brand ‘Lloyd’ has been introduced in the Middle East market by the Fast Moving Electrical Goods and Electronics Company. Lloyd has collaborated with TeknoDome, a distribution conglomerate headquartered in Dubai, to provide the needed Middle East coverage and reach.
PCBL:
The Board of Directors has given preliminary approval to the carbon black manufacturer’s purchase of Aquapharm Chemicals for Rs 3,800 crore. For the proposed transaction, the business has entered a share purchase agreement with Aquapharm Chemicals, Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai, and other Aquapharm Chemicals shareholders. The business enters the worldwide specialized areas of water treatment chemicals and oil and gas chemicals with this purchase.
Aster DM Healthcare:
Affinity Holdings, the company’s subsidiary, will sell a share in Aster DM Healthcare FZC to Alpha GCC Holdings. The total amount receivable from the deal is about $1.01 billion, of which $903 million is due at the transaction’s closure and up to $98.8 million may be collected later, subject to certain dependent events. This includes an earnout of up to $70 million depending on the GCC business’s EBITDA for the fiscal year ending March 2024. At the closure of the deal, the buyer, Alpha GCC Holdings, will be held by the promoter/promoter group of Aster India and funds managed by Middle East private equity company Fajr Capital Advisors at the ownership ratio of 35:65, respectively.
Canara Bank:
The RBI has approved the state-owned bank’s divestment of its 70% stake in its unlisted subsidiary Canbank Factors. Canara Bank owns 69.14 percent of its unlisted subsidiary, Canbank Computer Services (CCSL), and intends to take out the remaining owners, Bank of Baroda (BOB) and DBS Bank India (DBIL). Canara Bank is also considering transferring the bank’s credit card and other digital product portfolio to CCSL.
Indian Renewable Energy Development Agency:
On November 29, the state-owned banking company IREDA will float its equity shares on the BSE and NSE. The issuance price is set at Rs 32 per share.
Varun Beverages:
The company has established a subsidiary company in Mozambique, named VBL Mozambique, SA, to conduct beverage distribution operations.
Trident:
Avneesh Barua, the company’s Chief Financial Officer (CFO), has resigned. His last day as the company’s CFO would be November 28.
CSB Bank:
The private sector lender has agreed to raise the marginal cost of funds-based lending rates (MCLR) across tenures by 10-20 basis points (bps). The new loan rates will go into effect on December 1, 2023.
Global Health:
Sanjeev Kumar has resigned as the company’s Group Chief Financial Officer (CFO) with effect from December 15, 2023.
HCP Plastene Bulkpack:
Bhaveshkumar V. Jain has resigned as the company’s Executive Director and Chief Financial Officer, effective November 28.
Orchid Pharma:
Dhanuka Laboratories, the business’s promoter, sold 13 lakh equity shares, or 2.56 percent of the company, in an open market transaction for an average price of Rs 571.28 per share. UTI Mutual Fund purchased 4.45 lakh shares at an average price of Rs 571 per share.
