State Bank of India will acquire 3.7 lakh shares (6.35 per cent stake) of Canpac Trends, a leading manufacturer of corrugated packaging solutions in India, at ₹1,349 apiece at a deal size of ₹49.9 crore. SBI has stated that the acquisition is aimed at achieving capital appreciation, indicating their positive outlook on Canpac Trends’ future growth prospects.

Israel-based defence electronics company Elbit Systems Ltd. picked up a 44 per cent stake in an Adani Defence Systems and Technologies Ltd, subsidiary of Adani Enterprises to develop and manufacture various autonomous aerial technologies and systems for defence applications.

The board of Hero MotoCorp has appointed Vivek Anand as chief financial officer. The company also approved acquisition of further 3 per cent stake in Ather Energy for ₹140 crore.

The Reserve Bank of India has rejected Religare Enterprises’ proposal to buy 87.5 per cent stake in Religare Housing Development Finance Corporation Limited (RHDFCL), a subsidiary company of Religare Finvest Ltd., and asked it to submit a fresh application. Religare Finvest Limited (RFL) is a wholly owned subsidiary of Religare Enterprises.

Jayaswal Neco Industries has raised a loan of ₹3,200 crore from a slew of lenders led by a Kotak Mahindra Bank arm to refinance existing loans, officials said on Thursday. Kotak Strategic Situations India Fund II has invested ₹1,500 crore in the non-convertible debentures issued by Jayaswal, as per a statement. Kotak Strategic Situations India Fund II will be investing in the company -- a major player in the specialty auto grade alloy steel segment and primarily focused on the commercial vehicles segment -- from its $1.25 billion fund, the statement said.

Jindal Saw Ltd on Thursday said its board has approved a proposal to raise up to ₹1,000 crore by issuing equity shares and other securities. The proceeds are proposed to be utilised towards prepayment and/or repayment of borrowings of the company, the pipes maker said in an exchange filing.

Genus Power Infra’s unit has received a letter of intent worth ₹1,026 crore for the appointment of advanced metering infrastructure service providers. The contract includes the supply, installation, and commissioning of a million smart prepaid meters.

Bharat Heavy Electricals has joined hands with the Central Manufacturing Technology Institute. The MoU between them will focus on hydrogen value chain development and IIOT (Industrial Internet of Things) solutions for predictive maintenance of machines and manufacturing processes.

Texmaco Rail Engineering has secured an order worth ₹1,374.41 crore from the Ministry of Railways for the manufacturing and supply of 3,400 BOXNS wagons.

Jupiter Wagons has informed the exchanges that has received an order worth ₹1,617 crore from the Ministry of Railways for the manufacturing and supply of 4,000 BOXNS wagons.

Infibeam Avenues has entered the capital markets and digital lending software market by acquiring a 49 per cent stake in Pirimid Fintech for ₹25 crore.

The board of Jammu and Kashmir Bank has announced the closure of its qualified institutional placement (QIP) after raising ₹750 crore at an issue price of ₹107.60 a share.

Exide Industries said that it has invested ₹100 crore in Exide Energy Solutions, subsidiary of the company, taking its total investment to ₹1,780 crore in the firm. This strategic move aims to strengthen the company’s position in the energy sector, it further said.

Mahindra and Mahindra Finance will enter the life, health, and general insurance segments to diversify its sources of income away from its primary vehicle lending busines.

The board of Vedanta will meet on December 19 to consider NCD issuance on a private placement basis.

Sterling and Wilson has informed the exchanges that it has received ₹254.20 crore as settlement amount from Jinko Solar over an ongoing dispute.

Aditya BIrla Capital has made an additional investment of ₹50.99 crore in its insurance arm, Aditya Birla Sun Life Insurance.

PB Infotech (Policybazaar) has said that income tax officials visited unit Paisabazaar on December 13 and 14 to inquire about vendors in Paisabazaar. The operations of the unit continue as usual and have not been impacted, it futher clarified.

Syrma SGS Technology has incorporated Syrma Strategic Electronics as a wholly-owned subsidiary company.

Ami Organics has inaugurated a manufacturing plant at Ankleshwar, Gujarat. It also signed another definitive agreement with Fermion to manufacture a couple of additional advanced pharmaceutical intermediates for Fermion.

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