HDFC Bank on Thursday said it has sold a 3.03 per cent stake in Indraprastha Medical Corporation Ltd for ₹55.46 crore through the secondary market route on NSE. Incorporated in 1988, Indraprastha Medical Corporation Ltd is promoted by the Delhi government and Apollo Hospitals. It operates two hospital facilities - one based out of New Delhi and another in Noida. Post divestment, the shareholding of the Bank in Indraprastha Medical Corporation reduced to 2.45 per cent.

The Tax Authority of Qatar has imposed a penalty of ₹60.84 crore on Larsen & Toubro for tax period April 1, 2018 to March 31, 2019 for variation in the income as declared by the company compared to the assessment by the authority. The company will file an appeal against the levy of this penalty.

Capital Group on Thursday sold shares of Aavas Financiers for ₹143 crore through open market transactions. US-based Capital Group through its affiliate - Smallcap World Fund, Inc - offloaded the shares of Aavas Financiers in two tranches on the National Stock Exchange (NSE) and the BSE. According to the bulk deal data available with the NSE and the BSE, Smallcap World Fund Inc sold 10.06 lakh shares, amounting to a 1.3 per cent stake in Aavas Financiers.

Next Wave Multimedia Private Ltd, subsidiary of Nazara Technologies, will acquire intellectual property rights pertaining to Ultimate Teen Patti from Games24x7 for ₹10 crore. UTP is a free casual card game for entertainment purposes only and does not offer any real money to the players.

Prestige Group has acquired 21 acres of land in Whitefield, Bengaluru, for ₹450 crore to develop a housing project and is expecting a revenue of ₹4,500 crore over the next four years. In a regulatory filing on Thursday, Prestige Estates Projects Ltd said the acquired land will be planned for residential development comprising about 1,800 apartments. “The cost of acquisition is ₹450 crore, it added.

Indian Hotels Company Ltd has partnered with Kolkata-based realtor Merlin Group to rebrand the two-decade-old Ibiza resort in West Bengal’s South 24 Parganas district. Merlin will invest ₹60 crore to upgrade and refurbish the infrastructure over the next 14-15 months, said Merlin Group chairman Sushil Mohta on Thursday. The resort would be rebranded as Ibiza - an IHCL SeleQtions.

Hero MotoCorp has received demand notices from the Income-Tax department for around ₹605 crore, including interest, for six assessment years. The company has received assessment orders/demand notices pertaining to six assessment years from the Income Tax department, the company said.

Kamat Hotels (India) has successfully refinanced a portion of its outstanding non-convertible debentures amounted to ₹128.45 crore (includes Principal & Interest Cost. Kamat Hotels repurchased 19,750 units of its 14 per cent Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) from the total outstanding NCDs of 29,750 held by existing NCD holders. The transaction is facilitated by Axis Finance Limited. This strategic initiative involves securing new debt at 10.75 per cent per annum for a tenure of 12 years with the reducing balance method. As on date, KHIL holds a total debt of ₹172.50 crore including the refinanced debt from AFL.

Healthcare Triangle, Inc., a subsidiary of SecureKloud Technologies, has announced its partnership with Cynomi, a pioneer vCISO platform vendor. This collaboration introduces an innovative Virtual Chief Information Security Officer (vCISO) service tailored specifically for the healthcare provider market, setting a new standard in cybersecurity and compliance.

Avanti Feeds has announced the trial production at the newly established Shrimp Processing plant of Avanti Frozen Foods Private Limited in Krishnapuram, Andhra Pradesh, started on March 21 with the first export invoice was raised on March 28.

Tiger Logistics (India), a BSE-listed international logistics company, said that it has received a positive ruling in its favour on GST service tax serviced earlier. “As communicated earlier, vide Order-in-Original dated 18.11.2021, the Commissioner, CX & GST, Delhi East, confirmed a demand of Service Tax amounting to ₹5,65,06,356 in respect of the mark-up/differential freight in the sale of space for export cargo, container detention charges, toll tax and other services provided.

Tanvi Foods India Ltd has announced that the new manufacturing unit at Seetharampuram, Andhra Pradesh has commenced its commercial operations from April 4. This unit has been constructed in line with international standards in order to maintain the highest standards of food quality and human safety. This is the largest unit in India which is manufacturing samosas, fresh and frozen agri products, snacks and other products using cutting-edge technology and equipments.

UltraTech Cement has announced the completion of 100 MW solar energy project under the Group Captive scheme in the state of Rajasthan. This is the Company’s first project for sourcing power for its captive consumption from the inter-state transmission network. Power from this project will be available to the Company’s Units in Rajasthan, Gujarat, Himachal Pradesh, Tamil Nadu, Odisha among others. The company now has a capacity of 612 mw of renewable power and 278 mw of WHRS.

Aforza, the leading cloud and mobile solution specifically built for the Consumer Products industry that empowers businesses of all sizes to protect margins on every channel, and LTIMindtree has announced a strategic partnership to deliver digital transformation in CRM & TPM across the consumer products industry. The partnership between Aforza and LTIMindtree is set to support the front office operations of Consumer Products manufacturers and distributors.

Aeroflex Industries has acquired 2,924 equity shares or 100% of the total equity of Hyd-Air Engineering Pvt. Ltd. amounting to ₹17.2 crore. With this acquisition, Hyd-Air Engineering has become a wholly owned subsidiary.

Cipla’s Patalganga unit has received form 483 with six observations from the USFDA.

Nestle India said National Consumer Dispute Redressal Commission has dismissed a complaint filed 2015 by the government in relation to Maggi noodles in favour of the company. The government had sought compensation of ₹284.55 crore and punitive damages worth ₹355.41 crore.

The board of Sula Vineyards has approved execution of a share purchase agreement with existing shareholders of ND Wines Pvt. Ltd to acquire the 100 per cent equity or 32.8 lakh shares for ₹14 crore, making it a wholly-owned subsidiary. The acquisition is being done for operational synergies and expansion opportunities and will be completed by April 30.

IOL Chemicals said the European Directorate for the quality of medicines and health care has issued a certificate of suitability for Gabapentin on April 4.

Cello World has commissioned manufacturing facility in a phased manner through its subsidiary company Cello Consumerware Pvt. Ltd. in Rajasthan. The glassware furnace coming up in the same facility will be operational by the June quarter.

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