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Reports of Softbank is planning to sell part stake in Zomato through block deal will keep the stock in focus. According media repots, SVF Growth (Singapore) Pte Ltd, an entity of Softbank, will sell 1.1 per cent in Zomato for Rs 1,000 crore.
Tata Motors has entered into a share purchase agreement and other agreements to acquire a 26.79 per cent stake in logistics solutions company Freight Commerce Solutions (Freight Tiger) for Rs 150 crore. The agreement also includes a provision enabling Tata Motors to further invest Rs 100 crore over the next two years.
Tata Steel will acquire 26 per cent stake in TP Vardhaman Surya (TPVSL), a wholly-owned subsidiary of Tata Power Renewable Energy. It will also execute a fixed-tariff long-term agreement with TPVSL to source 379 MW of captive renewable power, which will save 50 million tonne of carbon emissions over the 25-year contract period. TPVSL will set up a 966-MW solar-wind hybrid renewable power facility, which would make it one of the biggest industrial power projects under group captive segment in the country.
The United States Food and Drug Administration (USFDA) has conducted an inspection at Natco Pharma’s division in Hyderabad, during October 9-18. At the end of the inspection, the company received eight observations. The company is working with USFDA to close them at the earliest, it said in a notice to the stock exchanges.
Amdocs, a leading provider of software and services to communications and media companies, has announced that it will collaborate with Bharti Airtel to drive 5G and IoT monetisation and enhance its end-user customer experience. Amdocs will create a digital platform to automate and digitise Airtel’s business operations and help the Indian operator create a single-bundled plan and bill for all its services thereby enhancing customer satisfaction.
The United States Food and Drug Administration (USFDA) has conducted a pre-approval inspection at the Indoco Remedies’ solid oral formulation facility in Goa between October 12-18. The pre-approval inspection was conducted for two drug product applications (ANDAs) filed from this facility. The USFDA has issued four observations after the pre-approval inspection.
The board of PTC India Ltd has approved the bid submitted by ONGC Ltd. for acquisition of wholly owned subsidiary of PTC India Limited i.e. PTC Energy Limited (PEL) at an equity value of Rs 925 crore subject to adjustments in bid value as per the bid format.
Paras Defence and Space Technologies said that its subsidiary Paras Aerospace Private Limited has received Second Type Certificate from DGCA (Directorate General of Civil Aviation), Drone Directorate, Govt. of India, for it’s Agri Drone – “Paras-Agricopter V2.1”. This certification will enable execution of existing contracts of Paras Aerospace for “Paras-Agricopter V2.1” and will further unlock new prospects in the Agricultural Drone Industry.
IL&FS Transportation has signed pact with Sekura Roads to sell its entire stake in Jorabat Shillong Expressway, wholly owned subsidiary, for Rs 1,343 crore. The sale is to settle liabilities of JSEL aggregating to Rs 1,621 crore. All the liabilities of JSEL have been adjusted against the EV of Rs. 1,343 crore, it said in a statement. The Consideration of Rs. 1,343 Crore is the Enterprise Value of the Company and basis the same, the equity value is negative. The consideration for transfer of 100 per cent equity stake is, therefore, a nominal value of Re 1, it further said.
The board of Voltas has approves fund-raising of up to Rs 500 crore via non-convertible debentures.
Results Calendar: Atul, Authum Investment Infrastructure Ltd, Butterfly Gandhimathi Appliances, CSB Bank, Central Bank of India, Century Textiles & Industries, CG Power and Industrial Solutions, CreditAccess Grameen, Elecon Engineering, Glenmark Life Sciences, Goa Carbon, Hindustan Zinc, ICRA, Jammu & Kashmir Bank, JSW Steel, JSW Energy, Just Dial, KFin Technologies, Kajaria Ceramics, L&T Finance Holdings, Laurus Labs, One 97 Communications, PNB Gilts, Poonawalla Fincorp, Sasken, Sunteck, Tanfac Ind and Tejas Networks.
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