Lemon Tree Hotels has signed a licence agreement for a 50-room property in Visakhapatnam, Andhra Pradesh, under the brand Red Fox Hotels. The hotel is expected to be operational by FY 2026.

Oberoi Realty has divested its entire 31.67 per cent stake in a joint venture with Sangam City Township for Rs 3.6 crore. 

LIT MindTree has elevated Rajesh Sundaram as Chief Business Officer of the manufacturing business unit of the IT services company, with effect from October 26.

Kamat Hotels (India) has concluded the sale of its unit Hotel IRA by Orchid in Mumbai to Lateral Hospitality for Rs 125 crore. Following the sale, the hotel major has reduced its debt (towards redemption of non-convertible debentures) by Rs 125 crore, and consequently, the total debt now stands at Rs 172.50 crore. Further, it has taken on lease the same property from Lateral Hospitality for managing the operations of the hotel.

Power Grid Corporation of India Limited has acquired Ramgarh II Transmission Limited  - the Project SPV to establish Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part C1, on build, own, operate and transfer basis - from  REC Power Development and Consultancy Limited.

Karnataka Bank has raised Rs 799.99 crore by allotting 3.34 crore equity shares to HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Quant Mutual Fund, Bharti AXA Life Insurance Company, and Bajaj Allianz General Insurance Company at a price of Rs 239.52 per share, on a preferential basis.

Novartis India said that it is facing a shortage of Simulect 20 mg. However, it is making its best efforts to mitigate the supply issue on a sustainable basis.

The board of GR Infraprojects has approved proposal for divestment of 21 per cent Equity stake/investment held in its wholly owned subsidiary company viz. Nagaur Mukundgarh Highways Private Limited to Aadharshila Infratech Private Limited. As on date, G R Infraprojects, together with its nominee, is holding 1,36,30,000 equity shares, constituting 100% issued, subscribed and paid-up capital of the NMHPL.

Krishna Institute of Medical Sciences (KIMS) has acquired an additional stake of 5.72 per cent in SPANV Medisearch Lifesciences Private Limited (Subsidiary Company). Now, the Company holds 56.72 per cent of the equity stake in the Subsidiary.

McLeod Russel India Ltd on Thursday said the company would sell its Vietnam unit, Phu Ben Tea Company Ltd, for $2.15 million. The company would sell the entity to TLK Agriculture Joint Stock Company (TLK). The sale is expected to be completed by December 24, 2023, the company said in a notice to the stock exchanges. McLeod Russel India said its wholly owned subsidiary Borelli Tea Holdings Ltd will sell 100 per cent of its capital contribution in Phu Ben Tea Company Ltd (PBTCL) to TLK.

AKI India plans to raise ₹80 crore from the market and announced a new 25:75 joint venture with UK-based NPS Shoes Ltd. The Kanpur-based leather goods maker will raise ₹40 crore each by issuing equity shares on a preferential allotment basis and convertible warrants.

The National Company Law Tribunal (NCLT) has allowed the withdrawal of the insolvency plea against Bajaj Hindusthan by the State Bank of India, as the outstanding amount has been paid by the sugar manufacturer. SBI had moved an application before the Allahabad bench of the NCLT informing that the outstanding amount has been paid by the Corporate Debtor.

Results Calendar: Alps Industries, Astec Lifesciences, Bajaj Finserv, Bajaj Holdings, Bharat Petroleum Corporation, Blue Dart Express, Cipla, Carborundum Universal, City Union Bank, Chemo Pharma Lab, Dr Reddy’s Laboratories, Dronacharya Aerial Innovations, Dwarikesh Sugars, Family Care, GE Shipping,, GNA Axles, Goodyear, Indian Hotels, IndiaMart, Indo Star Capital, Inox Green, Inox Wind, Indian Overseas Bank, Intellect Design, ION Exchange, IRB Infrastructure Developers, Jubilant Pharma, Latent View Analytics, Maruti Suzuki, M&M Financial Services, Mahindra Lifespace, Mahanagar Gas, Muthoot Capital, NACL Industries, Novartis India, Oberoi Realty, Piramal Pharma, Reliance Industries, Route Mobile, Satin Creditcare, SBI Card, SBI Life Insurance Company, Schaffler, Shalby, SRF, Shree Digvijay Cement, Tamilnad Mercantile Bank, TRF, TTK Prestige, Union Bank of India, Ujjivan Small Finance Bank and ZF Commercial Vehicles

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