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Wipro Ltd has announced the sale of land admeasuring 14 Acres and 02 Cents, located at No. 475-A, Wipro Street, Sholinganallur, Chennai 600 119, together with a 20-year-old building approximately 589,778 sq. ft. for a sale consideration of Rs. 266.38 crore.
Moody’s has upgraded the corporate family rating of Tata Steel from Ba1 to Baa3, and changed the outlook from Positive to Stable. The rating agency expects the company’s profitability to increase even as softer steel prices dent revenues, and the company to maintain conservative financial policies with a well-balanced capital allocation and financial metrics appropriate for its Baa3 rating.
Reliance Industries has issued a postal ballot notice to seek shareholders’ approval to appoint Isha Ambani, Anant Ambani, and Akash Ambani as non-executive directors. The voting will be held between Sept. 27 and Oct. 26.
The Reserve Bank of India (RBI) in exercise of powers conferred under Section 47A(1)(c) read with Sections 46 (4)(i) and 51(1) of the Banking Regulation Act, 1949, has imposed a monetary penalty of Rs.1.62 crore on the Bank for non-compliance with certain directions issued by RBI on ‘Loans and Advances - Statutory and Other Restrictions’, ‘RBI [ Know Your Customer (KYC)] Directions, 2016’ and ‘RBI (Interest Rate on Deposits) Directions, 2016’. The Bank has taken necessary preventive actions to avoid such recurrence in future.
Arvog (Finkurve Financial Services Limited) has entered into a strategic Gold co-lending partnership with Indian Bank.
Oriental Foundry Private Limited, a Wholly Owned Subsidiary of Oriental Rail Infrastructure Limited, has received RDSO approval for enhancement of its manufacturing capacity of Wagons upto 2400 Wagons per year. Oriental Foundry Private Limited has met the requirements of Infrastructure, Manufacturing, Testing and Quality Assurance for Manufacturing of Railways Wagons as specified in Standard G 105 of June 2011.
Mankind Pharma Limited has announced that the commercial operations with respect to pharmaceutical formulations has commenced at its new plant at Udaipur, Rajasthan, with effect from today i.e. September 25.
RSWM Ltd has announced that Compact Cotton Yarn at Lodha Unit, Banswara, has commenced its commercial production. The company had earlier announced the inauguration and partial operations of Compact Cotton Yarn Expansion at Lodha Unit Banswara by addition of 51,072 spindles.
Mangalore Chemicals and Fertilizers Limited has shut down the Ammonia and Urea plants for planned maintenance. The production is scheduled to be resumed by end of October 2023.
Century Textiles’ unit Birla Estates has successfully launched Phase 1 of Birla Trimaya in Bengaluru’s Devanahalli. The project is expected to have a revenue potential of Rs 3,000 crore.
Sheela Foam has raised to Rs 1,200 crore via QIP. It will allocate 1.11 crore shares at Rs 1,078 apiece for QIBs.
SMC Global Securities Limited has announced a strategic partnership with Ujjivan Small Finance Bank to offer online trading services to the Bank’s customers. This association will offer services comprising Savings, Demat and Trading accounts, providing a hassle-free and convenient trading experience to Ujjivan SFB’s customers.
On receipt of necessary approval from Investment Committee, Choice International Limited has acquired 25 lakh shares of Choice Finserv Private limited from our wholly owned subsidiary Choice Equity Braking Private limited for a consideration of Rs. 11.62 crore. Pursuant to the said acquisition the Company’s holding in Choice Finserv has been increased from 94.80 per cent to 98.05 per cent from September 25.
The bids for 2 ropeway projects won by GR Infraprojects are annulled by National Highways Logistics Management. In February, GR Infraprojects emerged as the L1 bidder for the development, operation and maintenance of a ropeways contract worth Rs 3,613 crore in Uttarakhand on Hybrid Annuity Mode.
The board of Fortis Healthcare has approved a proposal enter into a Share Purchase Agreement for acquiring 99.9 per cent stake in Artistery Properties. The enterprise value of the stake buy is Rs 32 crore. Artistery owns land and building situated adjacent to Fortis Hospital, Anandpur in Kolkata.
Welspun Corp Limited has announced that its wholly owned subsidiary Sintex BAPL has entered into an MOU with the state government of Telangana to set up a manufacturing unit in the state with up to Rs 350 crore investment. The proposed project is under the state government’s incentive scheme and will be manufacturing water tanks and pipes. Along with growing its market reach in water tanks segment, Sintex, a national iconic brand, plans to make its foray into pipes business through this project, which will have a mix of different types of PVC pipes and fittings.
RPP Infra Projects Ltd has received a letter of acceptance for a new projects viz, Road and Drain Works-1 for CBR Project of CPCL at Nagapattinam, Tamil Nadu ,at a contract price of Rs 300.44 crore (Incl of GST), Provision of civil works and Allied Services for Engine Test Facility along with Ancillary work for GRTE at Rajankute, Bengaluru, Karnataka at a contract price of Rs 90.18 crore (Incl GST) , and Thoothukudi Corporation - Construction of Storm Water Drain from Ponsubbiah Nagar to Loorthammalpuram Main Road package 4 under ADB Tamilnadu Urban flagship investment Program-tranche 3 at a contract price of Rs 16.88 Crore (Incl GST).
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