Trusted Industries: Reliance Retail Ventures, the retail arm of Reliance Industries, announced the acquisition of an 89% majority stake in Clovia, an industry leader in the transition-to-premium intimate apparel category, with a investment of Rs 950 crore.
HDFC: The housing finance company’s subsidiary, HDFC Capital Advisors (HCAL), has entered into a share subscription agreement to acquire 3,90,666 shares of Loyalie IT-Solutions.
National Bank of India: PSU’s biggest lender has put up for sale a dozen non-performing assets (NPAs) to recover loans worth more than Rs 820 crore, according to the bank’s notices.
Steel and power of Jindal: The local steel major said its subsidiary in Mauritius had made a prepayment of $357 million to lenders. The advance payment will help clear all debt from Jindal Steel & Power (Mauritius), he said.
NMDC: The state-owned miner announced that it has achieved record iron ore production of 40 million tonnes (MT) in this fiscal year so far. In the previous fiscal year, the company produced 35 MT of iron ore.
EH: The hotel company’s board has approved the sale of the entire stake in subsidiary EIH Flight Services, Mauritius for Rs 55.2 crore.
India pellets: The pharmaceutical player has received licenses from the Medicines Patent Pool (MPP) to manufacture and market generic versions of Pfizer’s nirmatrelvir oral treatment. The licenses apply to both active pharmaceutical ingredients (APIs) and finished products, in tablet form, of nirmatrelvir; ritonavir.
KEI Industry: Smallcap World Fund acquired 6.4 lakh shares of the wire and cable company through open market transactions on March 16. Thus, his stake in the company increased to 5.02%.
NBCC (India): The state-run construction player has received a work order from the Union Territory Administration of Ladakh, to provide comprehensive design, engineering and project management (PMC) consultancy services for various works. The estimated cost of the project is Rs 500 crore.
India Transport Corporation: The logistics firm plans to line up a capital expenditure of around Rs 250 crore for the next financial year. Of the total capital expenditure, the company is expected to spend between Rs 100-125 crore for vessels and containers.
Dodla Dairy: The recently listed dairy player said it had acquired Karnataka-based Sri Krishna Milks for Rs 50 crore to expand its business. He informed that the company had signed an agreement with Sri Krishna Milks to acquire a business as a “going concern” and on a buy-down basis for a consideration of Rs 50 crore.
RBL Bank: The private sector said the Reserve Bank of India has granted a three-month extension to its Managing Director and Acting CEO Rajeev Ahuja with effect from March 25, 2022.
FMCG Stocks: Consumers may have to pay more for their daily essentials, with FMCG companies considering another round of price hikes of up to 10% to offset the impact of an unprecedented level of inflation in product prices commodities such as wheat, palm oil and packaging materials.
Power of Gujarat Industries: The state-run utility company shut down power generation from its 145 MW combined cycle power plant, Vadodara gas-fired Station-I, due to rising natural gas prices after the start of the war between Ukraine and Russia. This plant uses natural gas as fuel for the production of electricity.
Cerebra integrated technologies: The company has signed a share transfer agreement with a potential buyer from Dubai for the transfer of its entire 86.5% stake in subsidiary Cerebra Middle East FZCO, Dubai. The company wants to focus on the management of electronic waste, which is now the company’s core business.