Oil India Limited (OIL) acquired a 50 per cent stake in WorldAce Investment Limited (WIL) in Cyprus through its wholly owned subsidiary, Oil India International BV (OIL BV) in the Netherlands, from PetroNeft Resources (PR), an Irish company. The remaining 50 per cent of WIL is owned by PR.

WIL owns 100 per cent of the equity in Stimul-T LLC, a Russian registered legal entity, which owns and operates Licence 61 (Oil Block) in the Tomsk region of the Russian Federation.

Stimul-T LLC, the owner, and operator of the Oil Block, has informed about voluntarily filing an application for bankruptcy administration in Russia on May 10, 2023, due to the inability to pay the debts of its creditors.

Larsen & Toubro has announced that its Non-Executive Chairman AM Naik has decided to step down from the post. SN Subrahmanyan, who is the Chief Executive Officer & Managing Director, has been re-designated as the Chairman and Managing Director of the company with effect from October 1, 2023, L&T said in an exchange filing.

HDFC Bank on Wednesday said markets regulator Securities and Exchange Board of India (SEBI) has granted its final approval for the proposed change in control of HDFC AMC. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of this financial year.

The board of Godrej Consumer Products Ltd has approved the raising of funds by way of issuance of unsecured NCDs, listed and/or unlisted, aggregating to an amount up to ₹5,000 crore on a private placement basis in one or more tranches.

Last month, GCPL announced the acquisition of the FMCG business of Singhania-controlled Raymond along with brands Park Avenue, Kamasutra and Premium for ₹2,825 crore.

McLeod Russel India Ltd and financial services firm IL&FS group are engaged in negotiations for an out-of-court settlement, and may agree on repayment of about 60 per cent of the outstanding amount in a combination of cash and assets, a source close to the development said.

IL&FS Infrastructure Debt Fund (IIDF), part of the IL&FS group and a financial creditor of McLeod, has applied under a provision of the IBC against McLeod Russel India Ltd with the National Company Law Tribunal, Kolkata Bench.

IIDF filed the petition against the company for default in payment of ₹347.4 crore as on November 12, 2019, of which the principal amount is about ₹252.66 crore.

Lehar Footwears Ltd has received approval for a publicity campaign and brand promotion proposal with an investment of ₹18 crore for three years, along with government of India assistance of ₹9 crore for three years, as per the guidelines under the ‘Brand Promotion of Indian Brands in Footwear and Leather Sector’ sub-scheme of Indian Footwear and Leather Development Programme (IFLDP). The balance amount of ₹9 crore will be invested by the company.

The Zydus Group has received the Establishment Inspection Report (EIR) from the USFDA for the inspection conducted at the manufacturing facility of Zydus Lifesciences Limited located at Moraiya, Ahmedabad, from January 23 to 27.

The inspection was a PAI for Transdermal Patch products. The Audit ended with NIL observations. Shares of Cadila Healthcare will remain in focus.

Rail Vikas Nigam Limited has received a letter of acceptance (LOA) from Mumbai Metropolitan Region Development Authority for the design, manufacture, supply, installation, testing, and commissioning of two numbers of 110KV receiving substations. RVNL had participated in a consortium with Siemens India, which is the lead partner with a 60 per cent share, and RVNL as a consortium partner with a 40 per cent share.

Sanofi India board on Wednesday announced that the company’s board has approved the demerger of its consumer healthcare business into a wholly-owned subsidiary of the company. The demerged company will be called Sanofi Consumer Healthcare India Limited, which will be a wholly-owned subsidiary of Sanofi India.

The consumer healthcare business of the company includes assets, liabilities, and all other aspects of the consumer healthcare business including brands like Allegra, Combiflam, DePURA, Avil, and others.

Results calendar
  • Aditya Birla Capital.
  • Ajmera Realty.
  • AKI.
  • Alkyl Amines.
  • Asian Paints.
  • Balrampur Chini.
  • Bharat Seats.
  • Bliss GVS.
  • BLS.
  • CARE Rating.
  • DCW.
  • Deepak Nitrite.
  • Dic India.
  • Eicher Motors.
  • Everest Industries.
  • FGP.
  • Gillette.
  • GSPL.
  • GTL Infra.
  • Intellect Design.
  • Kirloskar Brothers.
  • Dr Lal Path Labs.
  • Neuland Lab.
  • Paisalo.
  • Palash Securities.
  • PTC India Financial.
  • Religare.
  • Rishiroop.
  • Shankara Building Products.
  • Siemens.
  • South Indian Bank.
  • Tiger Logistics.
  • Tracxn Technologies.
  • Triveni Glass.
  • Udaipur Cement.
  • Ujjivan SFB.
  • Zensar Tech.