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Gautam Adani is weighing a bid for the coal-fired power plants belonging to industrialist Anil Ambani that are currently being auctioned by an Indian bankruptcy court, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The board of Happiest Minds Technologies will meet on July 14 to consider and approve the issue price, including a discount if any thereto, to qualified institutional buyers.
Lupin on Tuesday said it has received an Establishment Inspection Report from the US health regulator for its Pithampur Unit-2 manufacturing facility. The EIR was issued after the last inspection of the facility, which manufactures oral solids and ophthalmic dosage forms, conducted from March 21-29, 2023, the Mumbai-based drug maker said in a statement.
The GST Council on Tuesday agreed to levy a 28 per cent tax on online gaming, casinos, and horse racing and the tax would be levied on full face value. The Council has also approved the exemption of GST on import of cancer drug Dinutuximab, and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases. Shares such as Nazara Technologies, Zensar Technologies and Delta Corporation will remain in focus.
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Indian Hotels Company Ltd (IHCL) on Tuesday announced the signing of its first hotel in Kolhapur, Maharashtra, under the Ginger brand. The 100-key hotel is a new project in partnership with the Jeswani Group, IHCL said in a statement.
Kalpataru Projects International’s arm Kalpataru Power Do Brasil Participações Ltda. (KPBPL) has completed the acquisition of 100 per cent equity stake in Fasttel Engenharia S.A., Brazil. In 2021, KPBPL had acquired a 51 per cent stake in Fasttel along with management control.
Schaeffler India has appointed Hardevi Vazirani as Director of Finance, CFO, with effect from February 13, 2024. Vazirani will succeed Satish Patel, who will retire from the company on February 12, after a career spanning three decades, Schaeffler India said in a statement.
Usha Martin International Limited (UMIL) has incorporated a wholly-owned subsidiary, Usha Martin Espana, SL, in Spain. It will work in the area of distribution, manufacturing, sale, and application of metallurgical products, high-performance wire ropes, LRPC strands, wires, pre-stressing accessories, machinery, and cables, Usha Martin said in a regulatory filing on Tuesday.
Hindustan Oil Exploration Company Limited’s subsidiary has acquired the balance 50 per cent stake in Geoenpro Petroleum Limited (Geoenpro). Geoenpro, hitherto an associate company has now become a subsidiary of HOEC. This increases the participating interest in Kharsang Oilfield to 35 per cent, both directly and indirectly, with right as operator to the Block.
Kinetic Engineering Ltd on Tuesday said it will raise ₹54 crore through preferential issue of shares to promoters and sale of non-core assets to cut debt and invest in new business and electric vehicle vertical. The company’s board in a recent meeting approved raising ₹54 crore from various sources, including promoters and the sale of its non-core assets, Kinetic Engineering Ltd, as per a regulatory filing.
3i Infotech has been awarded a contract by Bajaj Electricals for Managed Infrastructure Services for End Users, DC & Network, Cloud Management & Database Management, IT Application Support, and Rollout Services. The total contract value is approximately ₹18.74 crore spread across five years, plus one-time rollout service fees of approximately ₹60 lakh.
STL, a optical and digital solutions company, has announced its partnership with Windstream, a privately held communications and software company, to support their large-scale fiber expansion projects.
Hilton Metal Forging has entered into an MoU with Arab Organization for Industrialization (AOI), a state-owned company of Egypt, to explore the potential opportunities for collaboration in connection with the development and export of solid forged railway wheels for the Egyptian National Railways (ENR); and development and export of machinery products including but not limited to Stainless Steel Flanges for Engine Sector in Egypt.
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Panabyte Technologies Limited (formerly Panache Innovations Limited) has received authority from D Link India to sell D Link Mobile accessories, and mobile adaptors at Amazon & Flipkart online marketplaces. The authorisation, which is valid till December 31 for the domestic market, can be renewed.
The board of Wanbury has approved the issue of Unlisted, Secured Redeemable, Non-Convertible Debentures up to ₹100 crore. Currently, ₹90 crore is being raised from Neo Special Credit Opportunities Fund, a fund managed by Neo Asset Management Pvt Ltd along with its co-investors on private placement basis.
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