Plutus Wealth Management LLP picked up a 4.27 per cent equity stake in MTAR Technologies via open market transactions on June 5.
According to bulk deal data, it bought 13.15 lakh shares of the company shares at an average price of ₹1,880.02, amounting to ₹247.22 crore. Promoters Usha Reddy Chigarapalli, Anitha Reddy Dwaram, and Kavitha Reddy Gangapatnam were the sellers.
JSW Steel has achieved a significant breakthrough in environmental sustainability by embarking on waste plastic injection in blast furnaces.
The company has accomplished a remarkable milestone by successfully injecting a substantial quantity of waste plastic into blast furnace 3 at their Vijayanagar Steel Plant, demonstrating its unwavering commitment to environmental stewardship and innovation in the steel manufacturing sector.
Following extensive trials conducted over the past year, JSW Steel’s blast furnace team successfully injected a substantial quantity of waste plastic through tuyeres in the blast furnace. Building upon this achievement, JSW Steel is committed to refining and expanding its waste plastic injection capabilities, further bolstering its environmental efforts and enabling circularity and sustainability.
Adani Group stocks will remain focused, as the group made a prepayment of margin-linked share-backed financing totalling $2.15. Promoters also prepaid $700 million debt taken for the Ambuja Cement acquisition. Cash balance of the listed portfolio was up 41.5 per cent y-o-y to $4.75 billion (₹40,351 crore) in FY23.
The board of SBI Cards and Payment Services has approved the raising of funds up to ₹3,000 crore via the issuance of non-convertible debentures (NCDs). The fundraising will take place in one or more tranches, on a private placement basis.
JK Cement has received board approval to sign and execute a Share Purchase Agreement with Toshali Cements for the acquisition of 100 percent shareholding in Toshali, from all the existing shareholders.
After an investment of ₹157 crore, Toshali will become a subsidiary of JK Cement, and the acquisition will help the company expand its footprint into the eastern region
Pursuant to the approval of the Board of Directors, NELCO Ltd has entered into the agreements with the promoters and other shareholders of Piscis Networks Private Limited on June 5 for an initial investment of ₹99,99,100 to subscribe 1,111 equity shares of ₹10, each representing 9.09 per cent of the paid-up capital of Piscis Networks Private Limited, and subsequently to make further investment to increase the company’s shareholding up to at least 30 per cent of the paid-up capital of Piscis Networks Private Limited. This shall be subject to approvals and consents as may be required under applicable law.
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Mahindra & Mahindra has informed the exchanges that Sunrise Initiatives sells an entire stake of 81.58 per cent in Mahindra Marine Private Ltd to Ocean Blue Boating. Ocean Blue currently holds the balance of 18.42 per cent stake in Mahindra Marine. The Company is the sole beneficiary of Sunrise Trust and MMPL was a subsidiary of the Company under the Indian Accounting Standards (IndAS).
B.L. Kashyap and Sons Limited have secured new orders aggregating to ₹ 147 crore approx. The total order book as of date stands at ₹2,774 crore (excluding GST) till date.
Indian Energy Exchange has achieved 8,251 MU overall volume in May 2023, including green market trade of 358 MU, 1.42 lakh RECs (equivalent to 142 MU), and 2.02 lakh ESCerts (equivalent to 202 MU).
The overall volume during the month was higher 8 per cent on a y-o-y basis. The price during May 2023 was ₹4.74/unit, declining 30 per cent y-o-y, from ₹6.76/unit in May 2022 due to improving supply-side scenario leading to increased liquidity, as well as cooler weather conditions.
Veranda RACE, a wholly-owned subsidiary of Veranda Learning Solutions, a publicly listed education company, is augmenting its reach into Kerala through a partnership with Talent Academy & Publications.
This association will reinforce Veranda RACE’s position in the competitive exam test prep segment and deepen its suite of learning offerings to its student community in Kerala. Veranda RACE is also teaming up with Phire, a placement-oriented training company that offers expert training for recruitment in Private Banking and BFSI sector.
Wipro has announced its dynamic digital signage solution, Wipro VisionEDGE, will power Bowling Center TV (BCTV), a new digital out-of-home television network distributed across bowling centers in the United States.
The board of directors of Godrej Consumer Products has appointed Aasif Malbari as Chief Financial Officer of the FMCG company with effect from August 10. Sameer Shah ceased as the CFO of the company as he will move to a group role leading consumer investments.