All eyes on Mukesh Ambani as Reliance Industries’ 46th annual general meeting is scheduled for today. The AGM comes in the back of drop of recent Jio Financial Services’ listing, and Qatar Investment Authority’s acquisition of stake in Reliance Retail Ventures Limited (RRVL)

Gland Pharma Limited has announced that the Office of Medical Device and Radiological Health Operations (OMDRHO), United States Food and Drug Administration (US FDA), has conducted Pre-Market Inspection covering US FDA’s Quality System / Current Good Manufacturing Practice regulations for Medical Devices (21 CFR Part 820) at the Company’s Pashamylaram Facility at Hyderabad from August 23 to August, 26. The Company has received two observations on Form 483 with respect to ANDA filed for the product to be manufactured in a PEN device at the said Facility. There is no data integrity observation. The company is committed to address the observations and will submit its response to US FDA within the stipulated time

The Board of Directors of Essar Shipping Limited has approved the issue of up to 4 crore 1% Non-Convertible Debentures of face value of Rs 100 each aggregating to Rs 400 crore, in one or more tranches to Essar Steel Metal Trading Limited, subject to the approval of shareholders. The NCDs shall be secured by first charge on all current assets, receivables and Arbitration award receivable from Steel Authority of India Limited (SAIL) of the Issuer.

NMDC Steel said that Nagarnar Steel Plant has achieved the feat of producing its final product - HR Coil - 9 days after production of Hot Metal. 

Elpro International Limited has acquired 1,50,000 Equity Shares of Jio Financial Services Limited worth Rs. 3.10 crores for investment purpose. It had earlier announced acquiring stake of BSE Ltd (1.07 lakh crore shares worth Rs 10 crore) and Manappuram Finance (3 lakh shares worth Rs 4.20 crore)

Motilal Oswal Mutual Fund has also acquired 3.72 crore Jio Financial Services Ltd (JFSL) shares on Friday from open market for ₹754 crore. 

Bharat Heavy Electricals Ltd (BHEL) has received Rs. 2,241.86 crores (excluding taxes) order from NHPC Limited. The order is for design, engineering, manufacturing, supply, erection and commissioning of Electro-Mechanical package involving Turbine, Generator, Digital Governing System, Static Excitation System, Transformers, Bus Reactors, Gas Insulated Switchgear, Outdoor Pot yard & Switchyard Equipments and Electrical & Mechanical BoPs for 12x240 MW Electro-Mechanical Works of Dibang Multipurpose Project at Roing in Arunachal Pradesh. Major equipment for the contract will be manufactured by BHEL’s plants at Bhopal, Bangalore, Jhansi and Rudrapur. The on-site execution activities will be carried out by the company’s Power Sector - Eastern Region division, Kolkata.

Garden Reach Shipbuilders and Engineers Ltd (GRSE), the Kolkata-based premier warship builder and the DEMPO Group, the leading business house of Goa, have signed a Memorandum of Understanding (MoU) to launch a collaboration model to build commercial vessels in three premier shipyards of DEMPO at Goa and Bhavnagar. This is GRSE’s maiden attempt to diversify in a big way in commercial shipbuilding to capture a large market share in construction of commercial vessels, both domestic as well as international.

BL Healthcare Limited, a wholly owned subsidiary of Indrayani Biotech Limited has invested in Kniss Laboratories Private Limited by subscribing to 54,68,934 Equity shares of the Company of face value of Rs. 10 each on preferential allotment/private placement basis in two tranches. Thus, it becomes subsidiary to the Wholly owned subsidiary, IBL Healthcare Limited.

Hindustan Media Ventures Ltd has entered into agreement for making an investment of up to Rs 35.02 Crore in two tranches of upto Rs 17.51 crore each, by subscribing to equity shares and/or convertible equity linked instrument of Vyomeen Media Private Limited (Newsreach).

Power Mech Projects Limited has received the following orders worth Rs. 723.90 crore - Rs.158.67 crore from Raichur Power Corporation Limited for Operation and Maintenance of 2x800 MW Coal based Yeramarus Thermal Power Station (YTPS) at Chikkasugur, Raichur District, Karnataka and s 565.23 Crores from Madhya Pradesh State Mining Corporation Limited for Sand Mining as Mine Developer Cum Operator for a period of three years in the areas of Narmadapuram.

Bharat Electronics Limited has received new Defence and non-Defence orders worth Rs. 3,289 crore during July and August. Above orders are for supply of Low Level Light Weight Radars, SONARS, IFF Systems, SATCOM Systems, EO/IR Payloads, TRM/DTRMs, Jammers, Encryptors, Data Link Systems, Fire Control Systems, Radars for Directed Energy Systems, Semi Rugged Telephone Exchanges, Software Defined Radios and various others types of radios, Electronic Voting Machines, AMC and Spares. These also include the LoI / order worth Rs 1,075 crore received today from Hindustan Shipyards Limited for supply of CMS, Communication Systems, EW Systems and other sensors for Fleet Support Ships. These orders are in addition to the Rs. 8,091 crore orders, which are already received. With this, BEL has in all received orders of Rs. 11,380 crore till now in the financial year 2023-24.

The Board of IndoStar Finance Capital Limited, took a decisive step forward in its stated retailisation strategy by selling a significant portion of its legacy corporate loan book to Phoenix ARC. The sale consists of certain accounts that were tagged in Stage 2, aggregating to dues outstanding of Rs 915 crore. The accounts have been resolved on August 25 at carrying value through an ARC sale under the Swiss Challenge method in terms of Master Directions - Reserve Bank of India (Transfer of Loan Exposures) Directions 2021, as amended.

BEML Ltd has received contract for export order from KAMSS Ltd, Russia, for BEML Dozer BD355 valuing $19.71 million. Contract to be executed in different phases starting from August, for which purchase order has been received.

Linde India Ltd. has been awarded a ‘Letter of Acceptance’ by Steel Authority of India for installation of 1000 tonnes per day Cryogenic Oxygen Plant on Construct, Operate and Maintain (COM) basis for a period of 20 years from the date of commissioning of the plant and ancillary facilities with provision of renewal for a further period of 5 years on mutual agreement basis at the SAIL’s plant situated at Rourkela.

Pidilite Industries Limited’s wholly owned subsidiary namely Pidilite Ventures Pvt. Ltd. (PVPL) has agreed to make further investment of Rs 6 crores in Buildnext Construction Solutions Private Limited by subscribing to compulsorily convertible preference shares of Buildnext. The compulsorily convertible preference shares subscribed by PVPL shall upon conversion, along with the existing shares held by PVPL in Buildnext, not exceed 28 per cent of the issued and paid up share capital of Buildnext, on a fully diluted basis. The nature of subscription will be cash. The investment is being made at a mutually agreed pre-money enterprise valuation, which has not been disclosed herein due to reasons of confidentiality. The purchase of the said shares in Buildnext is not a related party transaction.

The Board of Directors of HDFC Bank Ltd has approved the re-appointment of Sanmoy Chakrabarti as the Chief Risk Officer (CRO) of the Bank, for a further period of 5 (five) years, with effect from December 14, 2023, to December 13, 2028.

The Board of Bhagyanagar India has approved the transfer of Copper Business of the Company on a going concern basis, to its wholly owned subsidiary viz. Bhagyanagar Copper Private Limited by way of slump sale through business transfer agreement or slump sale agreement to be executed between the Company and its wholly owned subsidiary. The Board of the Company also approved the proposal of overseas investment in a Company to be incorporated in Sri Lanka either by way of Equity or Loan or both.

Jindal Stainless is the first Indian corporate participating in a pathbreaking India-Singapore project to make the bilateral cross-border trade paperless and a smooth ride for all parties. Commerce and Industry Minister Piyush Goyal and his Singaporean counterpart, Gan Kim Yong, has successfully kicked-off the first “live” transaction of interoperable e-Bills of Lading (eBLs) from Singapore to India through TradeTrust Framework, during the G20 Trade and Investment Ministerial meeting in Jaipur, India.

DLF Ltd will launch two luxury housing projects worth Rs 15,000 crore in Gurugram during the second half of this financial year to expand its business amid strong demand for premium homes, a PTI report quoting its Managing Director Ashok Kumar Tyagi, said.

Jyoti Ltd has secured prestigious orders of Rs. 19.50 crore (Excluding GST) for Design, Engineering, Supply of Pump & Motor Sets, including maintenance from JSIW Infrastructure Private Limited, Ahmedabad for Saran Pipeline Project, and Dantiwada Package - 2.

Zydus Lifesciences has announced that a poster highlighting the company’s oral small molecule NLRP3 inhibitor, ZYIL1, will be presented at the upcoming International Congress of Parkinson’s Disease and Movement Disorders to be held from August 27-31 2023 in Copenhagen, Denmark.

The routes created by Jonjua Air Private Limited under UDAN 5.1 scheme have been validated and it may proceed to submit its bid on these routes. Jonjua Overseas Limited provided research and consultation service in creation and submission of routes by Jonjua Air Private Limited which have been validated.

Sasken Technologies has informed the exchanges that Divyanshu Kumar has been designated as Chief Commercial Officer in place of Utpal Bakshi with effect from July 19. Earlier, Divyanshu Kumar was the Senior Vice President – Global Sales in the company.

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