SEBI on Tuesday issued an interim order against Brightcom Group (BGL), barring Chairman & CEO Suresh Kumar Reddy and CFO Narayan Raju from holding the position of a director or a key managerial personnel in any listed company or its subsidiaries. Reddy is additionally barred from buying, selling or dealing in securities, either directly or indirectly. The regulator has prohibited 23 noticees, including veteran investor Shankar Sharma, from disposing off shares of BGL held by them, directly or indirectly. The regulator ordered BGL to ensure that its statutory auditors P. Murali & Co. and PCN & Associates, as well as their past and present partners, are not engaged with BGL or its subsidiaries until further orders.
BEML Limited has bagged order from Ministry of Defence (Army) for supply of Command Post Vehicles with contract value of Rs. 101 Crores approximately.
Linde India Ltd. has been awarded a ‘Letter of Acceptance’ August 22 by Indian Oil Corporation Limited (IOCL) in connection with the job-work contract for setting-up of Air Separation Unit (ASU) on a site licensed by IOCL within its Panipat Refinery Complex for production and supply of Instrument Air, Plant Air and Cryogenic Nitrogen to IOCL Panipat Refinery Expansion Project (P25). On completion of the construction and the performance test of the aforesaid ASU, Linde India will enter into requisite Agreements with IOCL for operating and maintaining the facility for a period of 20 years from the first delivery date. Linde India expects to fund the capital expenditure by its own funds/internal accruals.
Axiscades Technologies has completed the acquisition of add-solution GmbH, a German company specialising in automotive design and development with deep domain expertise in services such as Electrical Distribution System engineering, testing and software development, wiring systems, component engineering, and automation for global automotive OEMs. add-solution comes with deep entrenched relationships with the world’s largest Automotive OEM’s and Tier 1’s built over years of excellent delivery and differentiated competencies.
Life Insurance Corporation of India’s shareholding in Mphasis has increased from 4.991 per cent to 5.054 per cent of the paid-up capital of the said Company.
Promoter entity Evergraph Holdings Pte Ltd of SJS Enterprises on Tuesday sold a 29.52 percent through bulk deals. Evergraph offloaded 45.82 lakh shares of SJS worth Rs 549.87 crore. Besides, investor Sanders Consulting sold 1.73 lakh shares. Among the 15 buyers included Sundaram Flexi Cap Fund, Societe Generale, Morgan Stanley Asia Singapore Pte, and HSBC Global Investment Funds.
RITES has emerged as the lowest bidder in the tender floated by Railway Board. The estimated order value is Rs 65.4 crore. The company will do service testing and inspection of rails as per IRS T-12 2009 for Indian Railways. The contract will be executed within five years, and extendable up to one year.
Bharat Forge has informed the exchanges that the validity period for the guarantee provided by the company to its wholly owned step-down subsidiary, Bharat Forge Aluminum USA, Inc, has been revised. The amount of $15.5 million issued in favour of JP Morgan Bank was earlier valid till November 27, 2023. The said guarantee is amended and the revised validity period is till July 31, 2026.
Adani Enterprises has informed the exchanges that BSE and National Stock Exchange of India Limited on August 21, imposed fine (Rs 28,000) on the Company with respect to certain non-compliance / delayed (delayed approval for appointment or continuation of Non-Executive Director) compliance. “The Company wish to clarify that imposition of fine by BSE and NSE is improper, since the shareholders’ approval was obtained by the Company in accordance with applicable laws.”
Jio Financial Services will remain focus, as the stock has been hitting the 5% lower circuit for the second consecutive day. As a result of which the scrip will now be removed from all S&P BSE indices on August 29. Besides, the stock will be reintroduced in the FTSE indices from today.
Adani Total Gas said that Its subsidiary Adani TotalEnergies E Mobility has partnered with Prakriti E-Mobility to develop electric vehicle charging infrastructure in New Delhi with 200 EV charging point. The partnership will function on a revenue sharing model.
Focus is on Vodafoe idea as the company to clear about Rs 2,400 crore of dues to the government by September, according to a PTI report. The company will clear dues for the June 2023 quarter and spectrum instalment with applicable interest.
The board of Piramal Enterprises has approved raising up to Rs 3,000 via non-convertible debentures in one or more tranches.