Reports that Hulst BV, promoter of Coforge Ltd is offloading its entire 26.63 per cent stake via a block deal to keep the stock in focus. According to reports, the floor price has been fixed at Rs 4,550 a share, which is a 7.4 percent discount to the current market price of Rs 4,901.95. The Netherlands-registered Hulst BV is owned and controlled by funds affiliated with BPEA (Baring Private Equity Asia).
Due to successful landing of Chandrayaan-3, shares of Larsen & Toubro, Hindustan Aeronautics, Bharat Forge, Linde India, Centum Electronics, Avantel, LMW and L&T Technology Services, will remain in focus, as they are in the business of supplying electronic components or engineering solutions to the aerospace sector.
The Board of Directors of Asit C. Mehta Financial Services Limited will meet on August 26 to consider and approve the proposal to issue 2,000 10.50% Secured Redeemable Non-Convertible Debentures of Rs. 1,00,000 each face value aggregating to Rs. 20 crore on private placement basis.
Vascon Engineers Limited has received Letter of Acceptance amounting to Rs. 605.65 Crore (including GST) from Bihar Medical Services & Infrastructure Corporation Limited (A Government of Bihar undertaking), for Construction of Lohia Medical College & Hospital including Hospital and Residential Building, Supaul. The work has been awarded on ‘EPC basis’. The work has to be completed within 36 months from the date of receipt of Letter of Acceptance.
Fineotex Chemical Limited , a leader of speciality chemicals headquartered in Mumbai, India, has been awarded with the ESG Registered Badge by Dun & Bradstreet (D&B) a prominent global provider of business decisioning data and analytics. The D&B ESG Registered Badge serves as a testament to Fineotex’s dedication to transparently disclosing its environmental, social, and governance (ESG) initiatives.
TVS Motor Company on Wednesday has unveiled its new sporty and stylish electric scooter — TVS X. The new born-electric product, a crossover electric two-wheeler, has been designed and developed to target a new segment of customers – Gen Z and millennials.
The Competition Commission of India (CCI) on Wednesday ruled that Tata Motors Limited has not violated the provisions of the Competition Act, 2002. The fair trade watchdog’s crucial verdict brings to close a contentious investigation, putting the auto giant under intense scrutiny. At the centre of the controversy were two long-standing authorised dealers of Tata Motors. The company was also accused of imposing certain restrictive clauses in their dealership agreements, notably, the requirement for dealers to obtain a No Objection Certificate (NOC) before venturing into or acquiring new businesses. Another point of contention was Tata Motors’ alleged vertical restraint on its dealers, restricting them from selling vehicles outside their designated territory.
Torrent Pharmaceuticals has informed the exchanges that USFDA has issued an Establishment Inspection Report for its manufacturing unit at Dahej, Gujarat. It had conducted the inspection between May 17 and 25.
Reliance Retail Ventures Limited, an arm of Reliance Industries, said that Qatar Investment Authority, through a wholly-owned subsidiary, will invest ₹8,278 crore into RRVL. This investment values RRVL at a pre-money equity value of ₹8.278 lakh crore.
NHPC Limited has signed a Memorandum of Understanding with Andhra Pradesh Power Generation Corporation Limited (APGENCO) for “Implementation of Pumped Storage Hydro Power Projects and Renewable Energy (solar/floating solar /wind) projects in Andhra Pradesh.
DroneAcharya Aerial Innovations has successfully tested a Reusable Rocket Launch Vehicle. In a release, the company said the Vehicle attained an altitude of about 3 KM above ground and successfully landed using a Parachute Mechanism. The Vehicle had Air Pressure Sensor, Heat Sensor, Internal combustion Sensor, Air friction Sensor (with calculation) and Miniature parachute for equipment recovery onboard. The major highlight of this test was that there was a 100 per cent recovery of the onboard sensors as well as the Rocket Launch Vehicle.