The Board of Directors of Tata Consultancy Services Limited has approved a proposal to buyback up to 4,09,63,855 shares for an aggregate amount not exceeding ₹17,000 crore, representing 1.12 per cent of the total paid-up equity share capital, at ₹4,150 per Equity Share through tender route on proportionate basis.

India Ratings and Research on Wednesday downgraded Vedanta Group’s Long-Term Issuer Rating to ‘IND AA-’ from ‘IND AA’, while maintaining a negative outlook, citing increased liquidity risk and reduced financial flexibility. “The downgrade reflects Vedanta’s increased liquidity risk and reduced financial flexibility on account of delays in tying up the refinancing for managing its large upcoming bond maturity in January 2024 and FY25,” it said.

JSW Steel Ltd has been declared as a “Preferred Bidder” from the Office of the Director, Department of Mines and Geology, Government of Karnataka, for Jaisinghpura North Block, in the Auction held on 21.08.2023. The highest final offer price by the Company to become a “Preferred Bidder” is 150.3% of the value of Mineral dispatched. The projected Iron Ore Resources is 17.66 in MMT. The Company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA) and start the mining operations.

Route Mobile Limited, one of the leading CPaaS (Communication Platform as a Service) providers to enterprises, over-the-top (“OTT”) players, and mobile network operators, through its subsidiary Route Mobile (Bangladesh) Limited has partnered with Robi Axiata Limited in Bangladesh as a Technical enabler and Sales partner for RCS (Rich Communication Service) Business Messaging.

Shilpa Medicare Limited has received approval from the Office of the Directorate of Ayurveda and Unani Services (division of the Ministry of Aayush) for the manufacture and sale of Oral Mucositis Spray a treatment option made available for the first time in India under the brand name ORAAL. The composition of ORAAL is protected by a granted patent in India until November 2033. Shilpa will commercialise the product under the brand name ORAAL which will be launched immediately.

Adani Enterprises has raised Rs 700 crore through the allotment of 70,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh each on a private placement basis.

The United States Food and Drug Administration (USFDA) has inspected the manufacturing facility of InvaGen Pharmaceuticals Inc., wholly owned subsidiary of Cipla in Central Islip, Long Island, New York. The company has received the EIR (Establishment Inspection Report) from the USFDA on the classification of this inspection as Voluntary Action Indicated (VAI).

Cosmic CRF Limited has bagged an order from SAIL-RITES Bengal Wagon Industry (P) Ltd (a Joint Venture of SAIL & RITES) worth basic value of Rs 21.60 crore corresponding to gross amount to about Rs.25.49 crore (Inclusive of GST) for supply of Cold Rolled Formed Sections for BOXNHL Wagon. The order is expected to be completed within 9 months.

The Reserve Bank of India has accorded its approval to SBI Mutual Fund, for acquiring up to 9.99 per cent of the paid-up share capital or voting rights in IndusInd Bank Limited. The approval has been granted with reference to the application made by SBIMF to RBI.

Larsen & Toubro has received an order from the Assistant Commissioner of CGST & CX, Gangtok Division, Gangtok, Sikkim, imposing a penalty of Rs 64.98 lakh under the Central Goods and Services Tax Act.

Maruti Suzuki India has said that it has started exporting its Jimny 5-Door. The vehicle will be shipped to Latin America, the Middle East, and Africa.

PCBL Ltd has been granted the following 2 patents by the Indian Patent Office: Invention titled Process for treatment of carbon black and oxidised carbon black obtained thereof; and Surface modified carbon black grades to improve performance of rubber compounds.

Pricol Limited has announced a technology and supply partnership with Heilongjiang Tianyouwei Electronics Co Ltd, (TYW), a company duly incorporated under the laws of People’s Republic of China for advanced technologies in Driver Information System Solutions for Indian vehicle makers across various vehicle segments.

Rail Vikas Nigam Limited (RVNL) has emerged as the Lowest Bidder (L1) for “TRC: Sukhovi-Pherima: Supply, Installation, Testing & Commissioning of Integrated Tunnel Communication system in the Sukhovi-Pherima new single line section of Lumding Division. The project cost is about Rs 28.74 crore.

Sagar Productions Ltd., which recently got the NCLT approval to amalgamate with ePuja Websolution Pvt Ltd (EPWSPL), has purchased the www.epuja.com domain. The company operated through its domain www.epuja.co.in, thus far.

The Board of MedPlus Health Services Limited has approved to raise funds upto Rs 1200 crore by way of issue of equity shares or any other equity linked instruments or securities, including convertible preference shares / fully or partly convertible debentures or by way of a composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares, or any other eligible securities or a combination of any of the Securities(“Securities”) mentioned above in one or more tranches through one or more public and / or private offerings including by way of one or more qualified institutions placements/further public issue of equity / debt securities, or a rights issue or through any other permissible mode under applicable laws and/ or combination thereof, as may be considered appropriate, for cash and at such premium / discount, as applicable, subject to such approvals as may be required, including the approval of the Members at a General Meeting or through Postal Ballot and further subject to such other statutory/regulatory/other approvals, as applicable.

Lakshmi Organic Industries has raised Rs 259 crore through a qualified institution placement (QIP) of its equity shares. The Fund-Raising Committee of the firm has approved the allotment of 96.25 lakh equity shares at an issue price of Rs 269.20 per share.

Bhagiradha Chemicals has informed the exchanges that the Patent Office, the Government of India, has granted a patent titled “Novel Process for Preparation of Ethiprole” for 20 years, with effect from January 12, 2021

Praveg Limited has announced receiving the work order for developing and managing the resorts at Damanganga Garden Kachigam, Daman. The work order is for a period of seven years that could be extended up to another three years.

EMS Ltd has received a contract worth Rs 270.82 crore from the Office of Municipal Corporation, Jaipur Heritage. The contract work includes the laying, testing, and commissioning of sewerage systems and all ancillary works, along with one-year defect liability and ten years of operation and maintenance for towns.

TIMKEN India Ltd has announced that Jamshedpur Plant Operations will be trimmed down from October 19 to 24on account of physical verification of inventory and Durga Pooja festival.

LTIMindtree has announced the initiation of a Comprehensive Community Development Programme (CCDP) in Subir Block of Dang District in Gujarat to improve the socioeconomic condition of the region. This initiative will focus on the aspects of Health & Nutrition, Education, Skill building & Livelihood development, along with carrying out work in the areas of Water, Agriculture, and Infrastructure.

Lehar Footwears Limited has been recognised as a “One Star Export House” by Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry. The recognition is valid for 5 years subject to the conditions prescribed in DGFT Hand Book of Procedures (2023). Under One Star Export House recognition, the Company may be eligible for privileges and benefits provided by the Foreign Trade Policy.

Results calendar: Anand Rathi, Angel One, Emerald, Facor Alloys, HCL Technologies, HDFC Asset Management Co, IEL, Infosys, International Travel House, JTL Industries, Kesoram, Kintech Renewables, Rose Labs, Shah Metacorp, Sical Logistics, Value Industries, Vandana Knitwear and Videocon Industries

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