Tata Consultancy Services (TCS) has banned six employees after finding them guilty of accepting favours from certain staffing firms in the appointment of contractual workers, Tata Sons Chairman N Chandrasekaran said on Thursday. The firm is probing the role of three more of its employees, Chandrasekaran said while speaking at the TCS Annual General Meeting (AGM).
JK Tyre & Industries, on Thursday, said it has completed the first phase of capacity expansion of its passenger car radial tyre manufacturing facility in Banmore, Madhya Pradesh with an investment of ₹312 crore. The expansion will result in a 31 per cent increase in the plant’s annual output capacity, from 39 lakh units to 51 lakh units.
ICICI Securities, on June 29, announced that the broking firm will delist and become a wholly owned subsidiary of its parent company, ICICI Bank. Public shareholders of ICICI Securities would be allotted 67 equity shares of ICICI Bank for every 100 equity shares of the company.
The board of Bharat Petroleum Corporation Ltd (BPCL) has approved raising capital up to ₹18,000 crore on a rights issue basis to eligible equity shareholders of the Corporation.
MCX has decided to extend the support services deal with the existing software vendor, 63 Moons Technologies for its trading and clearing platform, for six months with effect from July 1, 2023. The service cost is ₹125 crore per quarter.
The board of Canara Bank has approved capital raising plan for FY24 amounting up to ₹7,500 crore via debt Instruments.
Tata Communications has entered into an agreement to acquire US-based Kaleyra Inc, for CPaaS business expansion on a global scale. The said acquisition is expected to be completed within 6-9 months and the purchase consideration of $7.25 per share will be in cash only. The aggregate consideration is expected to be about $100 million.
Zydus LifeSciences has received tentative approval from the US Food and Drug Administration (USFDA) for Palbociclib tablets that are used to treat a certain type of breast cancer.
ICRA has informed the exchanges that Sushmita Ghatak has resigned as Managing Director & CEO of ICRA Analytics, material subsidiary of the company. The company is in the process of identifying the successor.
Lupin has received a milestone payment of $25 million (around ₹205 crore) from AbbVie for the successful initiation of Phase 1 clinical trials on its novel oncology product to treat haematological cancers. The two companies had inked a licensing, development, and commercialisation agreement in 2018 involving Lupin’s novel MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitor programme targeting a range of haematological cancers. This funding follows the achievement of a key milestone in Lupin’s novel MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitor program that it announced on Thursday.
The board of Bajaj Healthcare Limited has approved a proposal for the sale/disposal of an undertaking/unit(s) at Tarapur, Palghar, Maharashtra, and Vacant Industrial Land situated at Dahej Industrial Area, GIDC, Bharuch, Gujarat (which were acquired under SARFAESI Act 2002 from Saraswat Bank) and a Plot at MIDC Tarapur, subject to approval of shareholders.
Life Insurance Corporation of India’s (LIC) shareholding in United Nilgiri Tea Estates Company has decreased from 5.607% to 3.335% of the paid-up capital of the said Company. United Nilgiri Tea Estates Company Ltd is primarily engaged in growing and manufacture of Tea and letting out of its commercial property.
Procter & Gamble India will invest ₹2,000 crore to set up a modern personal healthcare manufacturing facility in Gujarat. The manufacturing plant will produce products that are part of P&G’s global healthcare product portfolio, especially digestives.
Coromandel International Limited, of Murugappa group, has decided to acquire an additional 32.68 per cent equity stake in Dhaksha Unmanned Systems Pvt. Ltd (Dhaksha), a Chennai-based differentiated drone start-up, for ₹204 crore. This will take Coromandel’s stake to 51 per cent in Dhaksha.