Tata Global Beverages has sold its Russian arm, Grand, to Skodnya Grand, and Coffee Pack in Russia, the company said in a notice to the exchanges. The takeover is expected to be completed in three to four months, subject to regulatory approvals, the company said. Post takeover, the new owner will continue to sell existing brands and products of Grand, the company said. Grand has generated ₹266 crore of revenue in 2016-17 with a net loss of ₹29 crore. The stock gained about a per cent at ₹166.65 on the NSE.

Ratnamani Metals & Tubes has informed the exchange that the company has bagged a new export order worth $29 million (about ₹184 crore) for supply of carbon steel coated pipes. The order has to be executed by March-April 2018. Shares of Ratnamani Metals closed flat at ₹836 against the previous day’s close of ₹836.7 on the NSE.

Tata Chemicals has scrapped its plans to acquire Unnati Inorganics Pvt Ltd’s precipitated silica operations located at Dahej. This decision is the result of non-fulfilment of certain conditions laid out in the agreement, the chemicals maker said. Tata Chemicals had entered into an agreement with Unnati Inorganics on May 10 to buy the latter’s precipitated silica operations for ₹34.20 crore. The company said its decision to not go ahead with the plan will not have any adverse impact on Tata Chemicals’ project worth ₹290 crore to manufacture precipitated highly dispersible silica. Shares of Tata Chemicals ended 2 per cent lower at ₹600.15 on the NSE.

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