Cipla: The pharma major and its subsidiaries, Cipla (EU), UK and Meditab Holdings, Mauritius, have entered into a Share Purchase Agreement with Africa Capitalworks SSA 3, for the sale of 51.18% stake
in Cipla Quality Chemical Industries (CQCIL), Uganda. After the stake sale, CQCIL will cease to be a subsidiary of the company.
The stake sale process is expected to be completed by May 2023 and will get a consideration in the range of $25-30 million.
RailTel Corporation of India: The company has received a work order worth Rs 287.57 crore from the Centre for Development of Advanced Computing (C-DAC).
The work includes supply, installation, integration, testing and commissioning of IT infrastructure in greenfield data centre at New Delhi and Bengaluru along with training and support.
LIC Housing Finance: MR Kumar has resigned as the chairman [non-executive (nominee) director] from the board of the LIC Housing Finance
He retired from the services at the Life Insurance Corporation of India with on March 13.
PNC Infratech: The company has been declared the L1 (lowest) bidder in a National Highways Authority of India (NHAI) project for the construction of 6-lane Greenfield
Varanasi-Ranchi-Kolkata Highway under Bharatmala Pariyojana in Bihar in the hybrid annuity mode
The project bid cost was Rs 1,260 crore. It is expected be constructed in 24 months and operated for 15 years.
TVS Motor Company: The company has received the board approval for allotment of 12,500 non-convertible debentures of face value Rs 1 lakh each,
amounting to Rs 125 crore, through private placement. The date of maturity of these NCDs will be March 13, 2026.
Capri Global Capital: The non-banking finance company said its gold loan AUM has crossed the business of Rs 1,000 crore and its exclusive gold loan branch count has touched 500-plus from 108
branches on the formal launch date. The company had launched its gold loan business in August 2022
Elgi Equipments: The company's wholly owned subsidiary Elgi Compressors USA Inc has acquired 33.33% stake in CS Industrial Services LLC.
S Industrial Services will act as an exclusive dealer or distributor for Elgi Compressors USA Inc, for sale of ELGi branded compressors in Western New York region.
NMDC: Amitava Mukherjee has taken an additional charge as Chairman-cum-Managing Director of the country's largest iron ore producer. During his tenure as Director (Finance)
NMDC recorded best ever financial performance with a turnover of Rs 25,882 crore, and profit after tax of Rs 9,398 crore in FY22.
Texmaco Rail & Engineering: The company has received the board approval for the transfer of rail EPC business through slump sale to its wholly owned subsidiaries.
Its rail EPC business comprises two undertakings - Kalindee Rail and Bright Power.
Both units will be transferred to its two subsidiaries Texmaco Rail Electrification and other is to be incorporated.
DFM Foods: The company has received a delisting order, approving the delisting of equity shares from BSE and National Stock Exchange of India.
Accordingly, the trading in the equity shares of the company will be discontinued from both the exchanges with effect from March 28 this year
Further, the company will be delisted from exchanges with effect from April 5.
Hardwyn India: The architectural hardware manufacturer is going to raise Rs 337.31 crore as it has received board approval for allotment of 1,08,66,660 equity
shares at a price of Rs 320.4129 per share through Preferential basis by virtue of swap.
Balu Forge Industries: The company has secured a trial order to supply powertrain sub-assemblies to a tractor manufacturer in Middle East.
These components will be used in the production of engines that will power a variety of tractors.
The trial order initially comprises of supplying 10,000 sets of sub-assemblies & there is scope to increase the same to over 50,000 annually.
BFIL has already started the supply under the said contract and expects to generate further revenues in upcoming quarters.