Shares of automobile companies will be in focus, as they will declare the June sales figures. Maruti Suzuki, Tata Motors, Ashok Leyland, Escorts, Eicher Motors, TVS Motor Company, Bajaj Auto, Hero MotoCorp among the others will remain in focus.
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The board of NTPC has approved for issuance of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (NCDs) up to ₹12,000 crore in one or more tranches/series not exceeding 12, through private placement in domestic market during the period commencing from the date of passing of special resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2025-26, whichever is earlier.
Tata Steel said that it will convert debt instruments worth $564.75 million in T Steel Holdings into equity shares in financial year 2025. Post this conversion, T Steel Holdings will continue to be a wholly owned subsidiary of the company.
UltraTech Cement has said that it has commissioned an additional 3.35 MTPA Clinker and 1.8 MTPA grinding capacity at its existing unit at Tadipatri in Andhra Pradesh.
Neogen Chemicals promoter Haridas Kanani has divested a 5.67 per cent stake in the company through block deal on Friday. The stake was acquired by existing long-standing institutional investors like SBI Mutual Fund and White Oak Group. The proceeds from this transaction will be utilised by the promoter for taking care of his and his family’s long term financial plans and goals, the company said.
The board of Sharika Enterprises has approved for the acquisition of 60 per cent stake in Contronics Switchgear India to make it a subsidiary of the Sharika Enterprises. The objective of acquisition is to expand its product portfolio by adding the expertise of Contronics Switchgear India in electrical panel manufacturing. The process for acquisition of stake has been initiated and will be completed within a reasonable period.
The board of Bharat Wire Ropes has approved a proposal from the company to sell its entire shareholding constituting 26.72 per cent in the paid-up share capital in Mitcon Solar Alliance (MSAL), (an Associate Company) to Mitcon Sun Power. The consideration of the shares is fixed at Rs 2.40 crore.
JSW Energy’s wholly owned subsidiary — JSW Neo Energy (JSW Neo) — has received Letter of Award (LoA) for setting up 300 MW ISTS-connected Wind-Solar Hybrid Power Project from SJVN against Tariff based Competitive Bid invited for setting 1,500 MW ISTS-connected Wind-Solar Hybrid Power Projects (Hybrid-2). Subsequent to this capacity award, the company’s total locked-in capacity increases to 13.9 GW. The company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently. With this hybrid project, the company further strengthens its energy solution offerings while moving towards an energy products and services company.
Zydus Lifesciences has executed a licensing agreement with Dr. Reddy’s Laboratories to co-market Pertuzumab biosimilar in India. Pertuzumab is a critical treatment for HER2 positive breast cancer patients. The biosimilar has been developed in-house by the research team at the Zydus Research Centre (ZRC). Under the terms of this agreement, Dr. Reddy’s will receive semi-exclusive rights from Zydus to co-market the product in India. The product will be marketed by Zydus under the brand name Sigrima. Dr. Reddy’s will market it under the brand name Womab. Zydus will receive upfront licensing income and is eligible to receive milestone income based on achievement of pre-defined milestones.
Aurobindo Pharma’s wholly owned step-down subsidiary — Agile Pharma BV, The Netherlands, has acquired entire share capital of Ace Laboratories, UK, and made it a wholly owned subsidiary of Agile Pharma BV, The Netherlands. The acquisition is largely for the captive purposes of the company’s business requirements in the European region. Based on capacity utilization, additional external revenue will also add to company’s revenue stream. The cost of acquisition is Rs 17.91 crore on debt free basis.
Surya Roshni has obtained an order amounted to Rs 53 crore (with GST) from OUTDF, Government of Odisha for installation work in retrofitting stretches in 16 Urban Local Bodies (ULBs) – Cluster C for implementation in LED Public Street Lighting Projects in Odisha. The order is expected to be executed within 3 months.
Updater Services has acquired 79,00,000 equity Shares of Wynwy Technologies through Rights Issue. Wynwy Technologies is the wholly owned subsidiary of Updater Services. It is engaged in the business of providing facility management services and other allied services through a ‘software product model’. There is no change in the shareholding pursuant to this investment.
Newgen Software Technologies has received and accepted purchase orders worth Rs 13 crore. The orders are to be executed in 6 years.
Sanghvi Movers has incorporated a wholly owned subsidiary ‘Sangreen Future Renewables’ that will carry on the business related to provide full-fledged turnkey services to Independent Power Producers (IPP) right from Conceptuasation to Commissioning of wind turbine generator (WTG). The business of the WOS is not outside the main line of business of the company.
Entero Healthcare Solutions has received approval to execute the definitive agreements to acquire 100% paid-up equity share capital of Devi Pharma Wellness (DPWPL). The business of DPWPL is in line of the business of the company i.e. wholesale distribution of pharmaceutical and other allied products and the acquisition will help it to expand its business in Kerala and thereby enabling the company to generate additional business and revenue on consolidated basis.
Godrej Properties has acquired leasehold rights for around 11-acre land parcel in Hinjewadi, Pune, offering developable potential of around 2.2 million square feet with an estimated revenue potential of around Rs 1,800 crore. The development on this land will comprise primarily Group Housing and High Street Retail.
GE Power India has received purchase orders worth Rs 12.06 crore. Out of the total, the company has received first order worth Rs 6.07 crore (plus GST 18%) from NTPC for Servicing of Generator. The company has received second order worth Rs 5.99 crore (plus GST 18%) from Maharashtra State Power Generation Company for Supply of Reheater rear pendent coils assembly for Unit 3&4 Khaperkheda TPS.
Capacite Infraprojects has raised Rs 24.50 crore through the allotment of senior, secured, unrated, unlisted, redeemable and non-convertible debentures (NCDs) of face value of Rs 1,000,000 each on private placement basis.
Coromandel International has launched a new magnesium-fortified complex grade fertiliser ‘Paramfos Plus’ in Bengaluru. ‘Paramfos Plus’ fertiliser contains 16% Nitrogen, 20% Phosphorus, and 13% Sulphur, along with an additional 0.6% Magnesium. The added Magnesium boosts photosynthesis, chlorophyll production, and promotes the vegetative growth of plants leading to improvement in both quality and yield. Additionally, it is suitable for use on cereals, legumes, tuber crops, fruit-bearing plants, and various horticultural crops, ensuring comprehensive nutrient support across diverse agricultural practices, the company claimed.
Titan Company has executed a Joint Venture Agreement (JVA) with Rhythm Jewelry, a Rhythm Group Company in Bangladesh, for incorporation of a joint venture company in Bangladesh with the objective of manufacturing, marketing and retailing of jewellery products in Bangladesh. On incorporation of the joint venture company, Titan will subscribe to 76,000 shares (76%) and Rhythm will subscribe to 24,000 equity shares (24%) of the Capital at a face value of BDT 100 per share, in one or more tranches. Post infusion of equity, the joint venture company will become a subsidiary of Titan.
Cochin Shipyard’s wholly owned subsidiary — Udupi Cochin Shipyard (UCSL) has won an international order from Wilson ASA, Norway, for Design and Construction of 4 nos. of 6300 TDW Dry Cargo Vessels. The agreement has also been entered into for additional 4 vessels of the same type which will be formally contracted within September 19, 2024. This is a follow up order in continuation of the contract awarded in June 2023 for Design and Construction of six 3800 TDW Dry Cargo Vessels which are now at advanced levels of construction at the yard at Udupi, Karnataka.
South West Pinnacle Exploration (SWPE) has secured work order from M/s JK Cement for providing services with regard to survey and exploration of a Coal block situated in Madhya Pradesh. The aggregate value of order is around Rs 6.33 crore including GST.
Orchid Pharma has launched its new drug – Cefepime-Enmetazobactam, which has been approved for the treatment of complicated Urinary Tract infections (cUTI), Hospital-Acquired Pneumonia (HAP) and Ventilator-Associated Pneumonia (VAP) indications. In a landmark collaboration, Orchid Pharma has partnered with Cipla to ensure widespread and rapid distribution of this breakthrough antibiotic combination across India. The launch of Cefepime-Enmetazobactam marks a significant milestone for India’s pharmaceutical industry in the fight against AMR, a growing global health issue, reinforcing India’s leadership in medical innovation. This collaboration will set a new benchmark for addressing critical healthcare challenges through strategic partnerships and advanced research.
Bharat Electronics (BEL) has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam (AVNL) on June 28, 2024, at AVNL Headquarters in Chennai. The project entails the supply and installation of an advanced, indigenously designed and developed Sighting and Fire Control System (FCS) for the upgrade of BMP 2/2K Tanks of the Indian Army, along with a comprehensive Engineering Support Package. Recently, the company secured other orders valued at Rs 481 crore which comprises of Doppler Weather Radar, Classroom jammers, spares and services etc. With these, the company has received accumulated orders totalling Rs 4,803 crore in the current financial year.
Nazara Technologies informed the exchanges that Investment Agreement executed by it with Datawrkz Business Solutions Private Ltd, Senthil Govindan (founder of Datawkz), Karthigha Dhanabalan, Arunprabu K, Mayank Khirwadkar and Garale Vishal Tukaram (sellers) for acquisition 22 per cent of the shareholding on a fully diluted basis, has been further extended to January 7, 2025 and as mutually agreed and with the option available to the Company, the second closing purchase consideration has been fixed at Rs 21 crore which was the floor price, out of which Rs 15 crore will be paid in cash and the balance Rs 6 crore will paid by share issuance.
