The Reserve Bank of INdia has lifted restrictions on Bajaj Finance’s eCOM and online digital insta EMI card with immediate effect. The company can now resume sanctions and disbursal of loans in these two business segments including the issuance of EMI cards. The RBI had restricted the sanctions and disbursal of loans under eCOM and the Online Digital insta EMI and EMI cards to new customers from November last year.

HDFC Mutual Fund has bought shares of global digital engineering and technology company Cyient Ltd for ₹204 crore through an open market transaction. According to the bulk deal data available with the BSE, HDFC Mutual Fund purchased 11.33 lakh shares, amounting to a 1.02 per cent stake in Cyient. The shares were picked up at an average price of ₹1,800 apiece.

Media buzz is that Yes Bank is likely witness block deal on Friday while Carlyle plans to sell shares worth ₹1,500 crore or 2 per cent equity via block deals. Post the warrant conversion, Carlyle’s entity named CA Basque Investments holds a 8.74 per cent stake.

The board of Coforge has approved acquisition of 54 per cent stake in Cigniti Technologies Ltd. The acquisition of Cigniti will not only help Coforge become a $2 billion company by financial year 2027, but also ensure that the company’s operating margin improves by 150 - 200 basis points by financial year 2027.

Yes Bank as received a service tax demand order, which levied a penalty of over ₹6.42 crore. “The Bank has received an order from the Office of the Commissioner of GST & Central Excise, Maharashtra on May 2, 2024, confirming tax liability on a service tax issue along with interest and levy of a penalty of Rs 6,41,84,437,” the lender said in a regulatory filing. It said the tax and interest demand is below the material threshold limit currently applicable to the bank.

The board of Ajanta Pharma has approved a proposal of share buyback worth ₹285 crore via the tender offer route. The company intends to purchase up to 10.28 lakh shares at ₹2,770 a share, which is a 24.5 per cent premium to Thursday’s closing price. The board has fixed May 30 as record date for the share buyback.

L&T Technology Services has bagged a contract of about 45 million euros (₹400 crore) from automotive supplier firm Forvia for engineering development activities, the company said on Thursday. As part of this five-year partnership, approximately 300 engineers from Forvia’s Augsburg (Germany) and Bangalore (India) sites, have transferred to LTTS.

Coal India has reported a 26.2 per cent rise in consolidated net profit to ₹8,682.20 crore for the March quarter on the back higher supplies of the dry fuel. The company’s consolidated net profit stood at Rs 6,875.07 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated income in the January-March period declined to ₹39,654.50 crore from ₹40,371.51 crore a year ago.

Wipro said it has been selected by US-based Independent Health to implement its Medicare Prescription Payment Plan (MPPP360) platform for the upcoming open enrolment period. Starting in 2025, the Medicare Prescription Payment Plan will allow enrollees to make capped monthly payments for out-of-pocket prescription drugs, among other changes. It aims to improve access to affordable treatments and strengthen Medicare.

Gujarat Toolroom has acquired a 65-acre land parcel in Gujarat to set up a green energy project at an investment of ₹572 crore. “Upon completion, the Hybrid Power Plant aims to contribute 97.5 megawatts of clean and sustainable electricity to the grid, the company said in an exchange filing. The company said it aims to set up the plant in 3-5 years. The company has acquired 65 acres of land on long-term lease in Gujarat for the establishment of Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, it said.

Adani Electricity Mumbai Ltd has signed an agreement to acquire 100 per cent stake in Pointleap Projects Pvt Ltd (PPPL) for a consideration of ₹13.15 crore. Adani Electricity Mumbai Limited (AEML) is a subsidiary of Adani Energy Solutions Ltd (AESL). “AEML today executed Share Purchase Agreement (SPA) with Windson Projects LLP (WPLLP) for acquiring 100 per cent equity shares of PPPL.”

The board of Ugro Capital has approved the acquisition of financial services platform MyShubhLife for an enterprise value of ₹45 crore in a cash and equity deal. The board also approved raising equity capital of Rs 1,322 crore through Compulsory Convertible Debentures (CCD) and warrants. The equity fundraise is subject to shareholder approval. This capital raise received strong commitment from Samena Capital, one of the company’s existing private equity investors, which committed ₹500 crore through warrants, Ugro said.

Adani Green Energy Ltd has secured $400 million finance from a consortium of five international banks for its under construction solar projects of 750 MW in Gujarat and Rajasthan. These projects are expected to come online from November 2024 onwards, a company statement said.

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