Reliance Industries is likely to be in focus today. Highly placed sources told businessline that Tesla is in talks with Reliance Industries for a possible joint venture to build a manufacturing facility in India. “Talks are at initial stages and have been ongoing for over a month,” said a person aware of the development. The source said the move shouldn’t be construed as RIL’s entry into the automobile space. RIL’s objective in the joint venture is to build capacities for electric vehicles in India.

Nearly a year after announcing an upgrade to YONO, State Bank of India’s super app, Dinesh Khara, Chairman, SBI, revealed that YONO 2.0 should hit the ground in a few months. “We’ll start having some early outcomes on YONO 2.0 from June – July,” he affirmed. In an exclusive interview with businessline, Khara said that with YONO 2.0, SBI aims to create a modular computing structure with more than two core transactions running at a fast pace. 

Surinder Chawla, MD & CEO of Paytm Payments Bank, subsidiary of One97 Communications, has resigned citing personal reasons and better career prospects. Meanwhile, shareholding pattern disclosed by Paytm has revealed that foreign portfolio investors increased their stake to 20.64 per cent from 18.64 per cent in the December FY24 quarter and MFs to 6.15 percent from 4.99 per cent.

IndusInd International Holdings (IIHL), promoter entity of IndusInd Bank, has signed a definitive agreement with Invesco India Asset Management to form a joint venture. IIHL will acquire a 60 per cent shareholding in Invesco India Asset Management, while Invesco Limited will retain a 40 per cent stake in the newly formed joint venture. Both IIHL and Invesco will have sponsor status.

Shyam Metalics has announced foray into stainless steel flat products. The new facility will have a capacity of 0.3 tpa and will specialise in the production of 200 and 400 series stainless steel hot rolled coils. The company has also applied to acquire a new 20-acre land parcel at the newly acquired Mittal Corp. The expansion includes plans to establish a stainless steel bright bars capacity of 25,000 tpa and a stainless steel wires division with a capacity of 18,000 tpa. The project is likely to be commissioned by mid-financial year 2027 and the estimated capex outlay for the project is slated to be in the range of ₹650 crore-₹750 crore.

Drug major Lupin has launched first generic version of Oracea in the US, which is used in the treatment of inflammatory lesions of rosacea in adult patients. The capsules had annual sales of $128 million in the US, per the IQVIA MAT data for February 2024.

Exide Industries said it will iinvest ₹5.34 crore to acquire 26 per cent stake in Clean Max Arcadia Pvt. Ltd., a special purpose vehicle by Clean Max Enviro Energy Solutions Pvt. Ltd.

PB Fintech, owner of Policybazaar, incorporates a wholly owned subsidiary PB Pay Pvt. Ltd.

Shivalik Rasayan said that US drug regulator USFDA has completed inspection of Dahej-based API facility of the company with seven observations. The facility was inspected between April 1 and April 9, 2024. These observations are procedural in nature, according to the company.

RattanIndia Power has informed the exchanges that Ankur Mitra has resigned as Chief Financial Officer (CFO) and key managerial personnel of the company, with effect from April 9. The board has appointed Manish Ratnakar Chitnis as Chief Financial Officer of the company as of the same date. Further, Gaurav Toshkhani is appointed as Company Secretary (CS) and key managerial personnel of the company with immediate effect, in place of Lalit Narayan Mathpati.

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