Life Insurance Corporation of India (LIC) has infused an additional capital to the tune of Sri Lankan Rupee (LKR) 500 million (around Rs 14 crore) in Life Insurance Corporation (Lanka). After allotment, the shareholding of LIC will be increased from 90.91 per cent to 93.75 per cent in the Lankan arm.. 

Apollo Hospitals Enterprises has announced its acquisition of stake in subsidiary Apollo Health and Lifestyle Limited (AHLL). The acquisition worth ₹103.26 crore has been carried out through a rights issue. This investment by Apollo Hospitals aims to strengthen AHLL’s business operations, working capital, and expansion initiatives.

Bandhan Bank’s board has approved the appointment of Ratan Kumar Kesh as interim MD and CEO from July 10, a day after its founder MD and CEO Chandra Shekhar Ghosh exits office. The appointment is for a period of three months or till the new MD and CEO takes charge, whichever is earlier, the bank said in a regulatory filing.

JM Financial has decided to consolidate its holdings in the wholesale debt syndication and distressed credit businesses under a single platform. Accordingly, JM Financial has received approval for acquisition of 42.99 per cent stake in JM Financial Credit Solutions (JMFCSL) for a consideration of around Rs 1,282 crore. Post transaction, the stake held by JM Financial in JMFCSL shall increase from 46.68 per cent to 89.67 per cent. The company has also received approval for acquisition of 71.79 per cent stake in JM Financial Asset Reconstruction Company (JMFARC) by JMFCSL for a consideration of around Rs 856 crore. Post transaction the stake held by JMFCSL in JMFARC shall increase from 9.98 per cent to 81.77 per cent.  The Proposed Transaction shall result in a net cash outflow of around Rs 426 crore from JM Financial and will be funded from surplus cash. 

Infosys has said Hemant Lamba, Executive Vice President and Global Head of Strategic Sales, has resigned from the company.

GMR Power and Urban Infra’s wholly owned subsidiary -- GMR SEZ & Port Holdings -- has executed a Share Purchase Agreement (SPA) with GMR Enterprises (GEPL), one of the promoters of GPUIL for sale of its entire stake held in Namitha Real Estates (NREPL) to GEPL. As per the SPA, GEPL has acquired entire 10,000 equity shares of NREPL from GSPHL at face value of Rs 10 each for an aggregate cash consideration of Rs 1,00,000 based on the valuation derived by independent valuer.

Zaggle Prepaid Ocean Services has entered into an agreement with Hero Motocorp. The agreement is for employee expenses and benefits where it would provide Hero Motocorp the Zaggle Save (Employee expense management & benefits).

Quick Heal Technologies has partnered with D2C refurbished electronics brand NewJaisa Technologies to bridge the cybersecurity gap in the refurbished electronics market. This collaboration will see Quick Heal’s solution Total Security pre-installed on all NewJaisa refurbished laptops and desktops.

Coffee Day Enterprises (CDEL) has reported a total default of Rs 433.91 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS) for the quarter ended June 30, 2024 (Q1 FY25). The company attributed the delay in debt servicing to a liquidity crisis.  There is no change in the default amount as the company has reported a similar amount in previous quarters. This is because the company is not adding interest from 2021

The Reserve Bank of India has imposed a monetary penalty of Rs 1.31 crore on Punjab National Bank (PNB) for non-compliance with certain directions related to KYC and ‘loans and advances’. RBI conducted a statutory inspection of the bank with reference to its financial position as on March 31, 2022. A notice was issued to the bank. The monetary penalty was imposed as bank sanctioned working capital demand loans to two state government-owned corporations against amounts receivable from government by way of subsidies/ refunds/ reimbursements. Also, the bank failed to preserve the records pertaining to the identification of customers and their addresses obtained during the course of business relationship in certain accounts.

HG Infra Engineering’s wholly owned subsidiary -- H.G. Solar Projects - has incorporated a wholly owned subsidiary, H.G. Bharatpur Solar Project. This subsidiary will carry out business in the field of Solar Power. Earlier, the company’s wholly owned subsidiary -- H.G. Solar Projects had incorporated a wholly owned subsidiary, namely H.G. Dudu Solar Project.

Quant Mutual Fund on Friday sold 18.62 lakh shares of HEG for Rs 421 crore through two separate bulk deals on the BSE and NSE at an average price of Rs 2,260 per piece. Details of the buyers of HEG shares could not be ascertained.

Signature Global has reported a 3.5 times jump in sales bookings to Rs 3,120 crore for the April-June quarter on high demand for its housing projects. The company’s sales bookings stood at Rs 820 crore in the year-ago period. Signature Global sold 968 units in the first quarter of this fiscal against 894 units in the corresponding period of the previous year. In terms of volume, its sales bookings more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier.

Delhivery has received the Ministry of Corporate Affairs’ (MCA) approval for incorporation of wholly owned subsidiary (WOS) of the Company in the name and style of ‘Delhivery Robotics India’ on July 03, 2024.  Earlier, the company had entered into partnership with SUGAR Cosmetics, a home-grown beauty brand to spearhead its pan-India B2B logistic operations.

Union Bank of India’s global deposits grew 8.52 per cent to Rs 12,24,191 crore (Provisional) as of June 30, 2024 (Q1FY25), as compared to Rs 11,28,052 crore as of June 30, 2023 (on a yearly basis). On a quarterly basis, the global deposits stood at Rs 12,21,528 crore as of March 2023. Its global gross advances stood at Rs 9,12,219 crore (Provisional) as of June 30, 2024, posting a 11.46% rise in year-on-year (YoY) terms as against Rs 8,18,457 crore as of June 30, 2023 and on quarter-on-quarter (QoQ) basis, Global advances stood at Rs 9,04,884 crore as of March 2023. Domestic advances and Domestic RAM stood at Rs 8,78,797 crore and Rs 5,08,188 crore (Excluding pool purchase) (Provisional) respectively as of June 30, 2024.

Bank of Baroda’s global deposits grew 8.83 per cent to Rs 13,05,821 crore (Provisional) as of June 30, 2024 (Q1FY25), as compared to Rs 11,99,908 crore as of June 30, 2023 (on a yearly basis). On a quarterly basis, the global deposits stood at Rs 13,26,958 crore as of March 2023. Its Global advances stood at Rs 10,71,646 crore (Provisional) as of June 30, 2024, posting a 8.14% rise in year-on-year (YoY) terms as against Rs 9,90,988 crore as of June 30, 2023 and on quarter-on-quarter (QoQ) basis, Global advances stood at Rs 10,90,506 crore as of March 2023. Domestic advances and Domestic Retail advances stood at Rs 8,81,817 crore and Rs 2,22,495 crore (Excluding pool purchase) (Provisional) respectively as of June 30, 2024.

UGRO Capital has received approval to raise upto Rs 75 crore through issuance of upto 7,500 Listed, Rated, Senior, Secured, Taxable, Redeemable, Non-Convertible Debentures (NCDs) denominated in Indian Rupees, 

Indsil Hydro Power and Manganese has temporarily suspended the operations of Unit 2 situated at Garbham Village, Vizianagaram, Andhra Pradesh, on July 5, 2024 due to adverse market conditions. The company does not propose to sell the Unit 2 of the company at present. 

Welspun Corp is all set to make an investment not exceeding Rs 3.50 crore holding upto around 22.67 per cent equity share capital in Bhargavi Renewable (BRPL), a subsidiary of Welspun Renewable Energy (WREPL). The company and/or its subsidiaries propose to enter in Power Purchase Agreement (with Take or Pay arrangement) for supply of renewable power for a period of 25 years and will pay interest free security deposit upto around Rs 1.85 crore. The company and/or its subsidiaries will get power at the most competitive rates on arm’s length basis with a reduction in cost of power.

Genesys International Corporation has received the Board of Directors’ approval for further investments of 50,00,000 Saudi Arabian Riyal (around Rs 11.13 crore) in Genesys Middle East Company (GME), the wholly owned subsidiary of the Company. The Investments in GME is to provide necessary resources for business purposes including capital expenditure, working capital, marketing, administrative expenses, and for general corporate purposes.

The United States Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) to Fermenta Biotech’s manufacturing facility situated at Dahej, Gujarat, India with no observations as to any significant objectionable conditions, and the inspection has been successfully ‘closed’ by the USFDA.

EFC’s (I) Unlisted Subsidiary -- Ek Design Industries has acquired 100% stake in ‘Degwekar Industries’. Accordingly, Degwekar Industries has become step down subsidiary of EFC (I). This acquisition will help to expand market presence and improve its operations. This move will bring significant benefits to its customers and stakeholders.