British American Tobacco Plc is preparing to kick off a sale of part of its stake in Indian partner ITC Ltd. as soon as this week, a Bloomberg report quoting people with knowledge of the matter said. London-listed BAT has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC stock through block trades, the people said. BAT currently owns about 29 per cent stake in FMCB major ITC.

Aditya BIrla Capital said that it will merge Aditya Birla Finance Ltd., its wholly-owned subsidiary, with itself. The move is to create a unified, operating NBFC. Rationalisation and simplification of the group structure, improved financial stability, likely stakeholder value enhancement and increased operational efficiency. As of December 31, 2023, Aditya Birla Capital has Assets Under Management (AUM) of ₹4.1-lakh crore, with a total lending AUM of ₹1.15-lakh crore.

Shareholoders of Chalet Hotels have approved a special resolution to raise ₹2,000 crore. The company had sought approval of its shareholders through a special resolution to consider and approve raising of capital by way of public or private offerings, including through a Qualified Institutions Placement. The company plans to utilise the proceeds towards pre-payment and/ or repayment of debt; organic and inorganic growth/expansion; redemption/ restructuring of preference shares or other outstanding securities, along with other general corporate purposes.

Wipro and Neutanix have partnered to launch new Nutanix-focused business unit to accelerate digital transformation and hybrid multicloud innovation.

HIL Ltd on Monday announced the acquisition of Patna-based Crestia Polytech, maker of the Topline brand of pipes and fittings, along with its four other subsidiaries at an enterprise value of ₹265 crore. Crestia Polytech and its wholly-owned arms Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers are strong players in Eastern India in pipes, fittings and water tank segments with brands Topline, Rockwell and Soniplast, HIL said.

CMS Info Systems, India’s leading business services company, has announced the appointment of Puneet Bhirani as President of Operations, a new role to consolidate service delivery and operations across business lines. 

Aurobindo Pharma said that APL Healthcare’s formulation manufacturing facility in Andhra Pradesh has got WHO GMP approval. APL Healthcare is subsidiary of Aurobindo Pharma. The inspection was carried out at the Tirupati-based unit IV between September 11-15, 2023. The Prequalification Unit Inspection Team (PQT-INS) to recommend the facility as a manufacturing site for Dolutegravir, Lamivudine, Tenofovir Disoproxil Fumarte Tablets.

Pitti Engineering has signed a definitive agreement to acquire Bagadia Chaitra Industries for ₹124.92 crore.

Coimbatore-based textile company KPR Mill Ltd says demand for both yarn and garments is good with the company carrying garment orders worth ₹1,100 crore, according to its MD P Nataraj. The order book is at an all-time high and a lot of inquiries are being made. Large garment players are doing well in the Tirupur region; only the smaller players have issues. There is a little sluggishness in the yarn business in margins, but volume is good. The margin will be a little lesser than the regular margins, the company’s CFO PL Murugapppan, told analysts.

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