The ₹18,000-crore buyback offer of Tata Consultancy Services opens today. The company has proposed to buyback 4 crore shares at ₹4,500 apiece. TCS had fixed February 23 as the record date to identify eligible shareholders to participate in the buyback offer, which will close on March 23. The company’s promoters — Tata Sons and Tata Investment Corporation Ltd (TICL) — intend to participate in the buyback offer by tendering shares worth about ₹12,993.2 crore, according to a company document filed earlier. Tata Sons holds about 266.91 crore shares and intends to tender 2.88 crore shares, while TICL (which holds 10,23,685 shares) intends to tender 11,055 shares, it added. The buyback is through tender offer on a proportionate basis.
Dow Jones, the leading news and business information provider and publisher of The Wall Street Journal, and Infosys have announced their growing collaboration as the former continues to expand its product portfolio. "Dow Jones continues to build on our promise to deliver unique, unparalleled journalism, information, data and analysis for our audiences, and this partnership with Infosys will aid in our ongoing digital transformation and provide our customers with exciting new tools and solutions,” said Almar Latour, Chief Executive Officer of Dow Jones.
Battery and flashlight maker Eveready Industries India Ltd’s board has appointed Suvamoy Saha as the Managing Director for three years after promoters led by the Khaitans resigned. Non-Executive Chairman Aditya Khaitan and Managing Director Amritanshu Khaitan tendered their resignation last week after the Burman family of Dabur announced an open offer for the company and showed intent to take direct control of Eveready.
Sun Pharmaceutical Industries Ltd's subsidiary Taro Pharmaceutical Industries Ltd has acquired the alchemee business and several other assets of Galderma Holdings for $99.3 million, according to an exchange filing. Taro Pharma has bought all the outstanding capital stock of Galderma subsidiaries — Delaware-based Galderma Holdings Inc, Japan-based Proactiv YK, Canada-based The Proactiv Company Corp and other assets of The Proactiv Company Sarl — used in the business of developing, manufacturing, marketing, selling and distributing products sold under the proactiv, restorative elements and in defense of skin brands as part of a single transaction.
Zydus Lifesciences on Tuesday said its subsidiary has inked a pact to acquire a brand from the US-based BridgeBio Pharma. Sentynl Therapeutics, Inc — a US-based wholly owned subsidiary of Zydus Lifesciences — and BridgeBio Pharma, Inc have executed an asset purchase agreement for the sale of Nulibry (Fosdenopterin) for injection.
Adani Ports and Special Economic Zone Ltd on Tuesday said it has incorporated a wholly-owned subsidiary 'HDC Bulk Terminal Limited'. The company further said HDCBTL belongs to the port industry and is yet to commence its business.
WABCO India, renamed as ZF Commercial Vehicle Control Systems India, has secured all required approvals to become the new name for WABCO India Limited. ZF Commercial Vehicle Control Systems India Limited is part of ZF's new Commercial Vehicle Solutions (CVS) division. "This is the latest step in the 'Refresh India' strategy we announced last year to strengthen and grow the ZF brand in India. By leveraging synergies as part of ZF, we are uniquely positioned to offer the next generation of solutions and services for commercial vehicles and fleets in India and world-wide," it said in a statement to the exchanges.
The board of directors of Yasho Industries will meet on March 16 to consider and approve capital expenditure for the new greenfield project for the capacity of 15,500 tonne per annum at Pakhajan, Bharuch, Gujarat.
Shyam Metalics and Energy and its subsidiary Shyam Sel & Power Ltd have commissioned production facilities. While the company has commissioned pellet plant with additional capacity of 6,00,000 tpa at Sambalpur, Odisha, the subsidiary has commissioned pellet plant with additional capacity of 6,00,000 tpa and sponge iron of 3,20,000 tpa at Jamuria, West Bengal; and aluminium foil capacity of 30,000 tpa at Pakuria, West Bengal.
Indo Thai Securities Ltd has made further investment in Femto Green Hydrogen Limited, its subsidiary, which was incorporated last December. It has been allotted 2,82,45,000 equity shares of ₹1 each. The subsidiary will be engaged in establishment and carrying on the business of research, development, marketing, selling and distribution of such product/s which will be used for eliminating pollution created by the surface transport.
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