International Holding Company PJSC (IHC), the Abu Dhabi based conglomerate, will invest $2 billion as primary capital in three Adani portfolio companies - Adani Green Energy Ltd, Adani Transmission Ltd and Adani Enterprises Ltd - which are all listed on BSE and the National stock Exchange, through the preferential allotment route.

Wipro has announced the appointment of Anis Chenchah as member of the Wipro Executive Board and Chief Executive Officer, APMEA (Asia Pacific, India, Middle East and Africa). Anis has over two decades of experience in Consulting, IT and Business Process Services. He joins from Capgemini where he was the Global CEO of Capgemini Business Services and member of the Group Executive Committee.

Hit by semiconductor shortage, Jaguar Land Rover (JLR) on Friday said its retail sales declined by 36 per cent to 79,008 units in the fourth quarter of 2021-22 fiscal as compared with same period last year. The Tata Motors-owned luxury automaker noted that the retail sales for the three-month period continued to be constrained by the global semiconductor shortage. However, the company saw a gradual improvement in chip supply leading to improved production and wholesale volumes compared to the previous quarter and this is expected to continue through the next fiscal year, it added.

Escorts: Mutual funds have reduced their stake in the company from 8.43 per cent to 0.28 per cent between February and March. Similarly, FPIs have cut their stake to 3.57 per cent (15.53 per cent); and ace investor Rakesh Jhunjhunwala, whose had 5.22 per cent stake as on February 18, seemed to have pared almost his entire stake (or less than one per cent).

Reserve Bank of India has imposed a penalty of Rs 93 lakh on Axis Bank for various violations, including those related to KYC guidelines. The central bank has also slapped a fine of Rs 90 lakh on IDBI Bank. A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release. IDBI Bank has been penalised for non-compliance of directions on 'frauds - classification and reporting by commercial banks and select financial institutions'.

SMS Lifesciences India has completed the United States Food and Drug Administration (USFDA) inspection at its API manufacturing facility located at Sy. No. 180/2, Kazipally, Jinnaram Mandal, Sangareddy district, Telangana (Unit I), without any observations. The inspection was commenced on April 4 and concluded on April 8.

RITES Limited has entered into a Memorandum of Understanding with the Indian Institute of Technology, Delhi, (IIT-Delhi) to explore avenues of mutual collaboration on road design and road safety consultancy projects. Under this agreement, RITES and IIT-Delhi intend to bring in best practices by leveraging each other's expertise and technologies to optimise operations and expand on a global level.

Seamec Ltd along with consortium partner Posh India Offshore Private Limited has entered into an understanding with Larsen & Toubro for diving related and other associated work through deployment of the Vessel "Seamec Princess" for ONGC work of Pipeline Replacement Project VII. The total combined value of the contract to consortium is $101 million exclusive of GST.

A major fire accident took place at the waste paper godown of Shree Krishna Paper Mills & Industries Ltd's plant at RIICO Industrial Area, Keshwana, Kotputli, Jaipur (Rajasthan). Efforts are continuing to control the fire with the help of Fire Brigade, the company said in a notice to the exchanges. "There is no loss or injury to human life. However, the fire has resulted into major damage of raw material stored in the waste paper godown thereby disturbing the entire operations," it said, adding it has adequate insurance coverage and already informed the Insurance Company about the incident.

Mahindra Logistics has announced its acquisition of majority stake in ZipZap Logistics Private Limited, a last-mile logistics service provider operating under its brand 'Whizzard'. The acquisition will complement MLL's existing last mile delivery business and EDeL, its Electric Vehicle (EV) based delivery services. Expanding technology based last mile services is an integral part of MLL's growth strategy and this transaction will help accelerate addition of technology, geographical coverage and operational capabilities.

The board of Sandur Manganese & Iron Ores has approved a proposal for entering into Power Purchase Agreement and Share Subscription and shareholding agreement with Renew Green Energy Solutions Private Limited for supply of solar and wind power to the company and its associates. The board approved a proposal of incorporation of a wholly owned subsidiary company under "Sandur Pellets Private Limited" subject to necessary approvals. The board, which met on Sunday, took note of the amendment to environmental clearance accorded by Ministry of Environment, Forest and Climate Change, Government of India, for the change in plant configuration and product mix for the company's plant at Hanumanahalli Village, Hosapete, Vijayanagara District, Karnataka. Meanwhile, the board has also approved a rights issue to raise Rs 18 crore (entitlement ratio 2:1; offer price Rs 10).

Results Calendar: Birla Tyres, Delta Corp, Hathway Bhawani Cabletel & Datacom, Kesoram Industries, Lasa Supergenerics, MPL Plastics and TCS.

Related Topics
comment COMMENT NOW