Vedanta Ltd will be in focus on reports that Twin Star Holdings is likely to sell a 4.3 per cent stake via a block trade, seeking at least ₹4,136 crore. The shareholder may sell 16 crore shares at a floor price of ₹258.5 apiece, representing a discount of 5 per cent on Wednesday’s closing price, the reports added.
L&T Financial Holdings will remain in focus amid reports that Bain Capital plans to sell 7.9 crore shares of the company in block deal. The floor price has set at ₹128.10, against Wednesday’s closing price of ₹129.75.
The GST Council clarified on August 2 that the proposed 28 per cent tax rate will be applicable on the actual cash or equivalent deposits made by players on an online gaming platform and not on the winning amounts being redeployed by players. The same treatment will extend to actionable claims in casinos.
Sterlite Power, on Wednesday, said it has acquired Fatehgarh III Beawar Transmission, a special purpose vehicle, from PFC Consulting Limited. PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation Limited under the Ministry of Power.
JSW Steel and JFE Steel Corporation of Japan have partnered to set up a joint venture (JV) company in India for the manufacturing of CRGO steel. JFE Steel Corporation (JFE) is also an existing shareholder in JSW Steel. The Japanese firm owns 15 per cent in JSW Steel.
Six executives, including the marketing head, of Nykaa have resigned since April, the company said on Wednesday. The exits include that of Chief Marketing Officer Shalini Raghavan, with Nykaa’s founder and CEO Falguni Nayar stepping up to take direct oversight of that function, given its criticality, the company said.
Mahindra & Mahindra Financial Services Limited announced in July 2023, “We estimate the overall disbursement at about Rs 4,400 crore delivering a 12 per cent Y-o-Y growth. The YTD July 2023 disbursements at about ₹16,550 crores registered a growth of 23 per cent Y-o-Y.”
Asian Energy Services Limited has received LOA from Gail (India) Limited for hiring of services for the acquisition of seismic data in Block RJONHP20211 from Gail (India) Limited in Rajasthan. The value of LOA is ₹16.69 crore. The contract duration is 6 months.
Bharat Dynamics Limited (BDL) has handed over the first Radio Frequency (RF) Seeker of Akash - Next Generation Weapon System produced at its newly commissioned Seeker Facility Centre to Defence Research and Development Organisation (DRDO). Seeker is a critical and technology-intensive subsystem used in Surface-to-Air Missiles and Air-to-Air Missiles for target tracking in the terminal phase.
Insecticides (India) Limited has acquired the industrial site spanning approximately 58,000 square meters, located within the Industrial Area of Sotanala, Alwar, Rajasthan. The primary intention behind this acquisition is to establish a state-of-the-art manufacturing facility for the Company. This would pave the way for the Company’s organic growth. The new manufacturing facility holds significant promise in terms of augmenting the company’s operational capacities and enhancing its production capabilities.
Sterling Holiday Resorts has announced the opening of its new resort in Vythiri, Wayanad. This is Sterling’s 2nd resort in the bustling tourist destination of Wayanad, adding to its existing resort at Sultan Bathery. With this, Sterling’s portfolio in God’s own country extends to seven.
Supriya Lifescience Ltd, a prominent Mumbai-based company specialising in active pharmaceutical ingredients (API), has announced its recent collaboration with Plasma Nutrition, Inc, a renowned United States-based company known for innovative consumer products located in Delaware. The strategic partnership involves an exclusive technology licensing agreement, granting Supriya Lifescience Ltd the sole rights for manufacturing and marketing Ingredient Optimised Protein (ioProtein) in India.
Results Calendar: Aavas Financiers, Accedere, Adani Enterprises, Adani Power, Akzo India, Ador Fintech, Andhra Paper, Auto Axles, Avadh Sugar, Bannari Amman Sugars, Bharti Airtel, Blue Star, Bodh Tree, Cera Sanitaryware, Clean Science Tech, Cummins India, Dabur India, DCX India, Deepak Nitrite, Eicher Motors, Enkei Wheels, FGP, Ganesha Ecosphere, Great Eastern Shipping, Gulf Oil, Haldyn Glass, HCC, ICRA, JM Financial, KEC International, Karnataka Bank, LIC Housing Finance, Lupin, Mahanagar Gas, Minda Corporation, MRF, Navneet Education, Neuland Lab, Nilkamal, Orient Ceramics, Piramal Pharma, Radico Khaitan, Sun Pharmaceutical, Texmaco Rail, Tiger Logistics, Tube Investments of India, Varun Beverages , Venus Pipes, Xchanging and Zomato.