The board of directors of Adani Enterprises Ltd has approved a proposal for raising funds by way of issuance of such number of equity shares and/or other eligible securities or any combination thereof for an aggregate amount not exceeding ₹12,500 crore or an equivalent amount thereof by way of qualified institutional placement or other permissible mode.

Hero MotoCorp has announced a partnership with Motosport SA in Costa Rica to boost its presence in Central America. As an exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in the country, Motosport SA will play a key role in the rapid expansion of Hero’s network there.

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RCCPL, subsidiary of Birla Corporation, has acquired the mining rights for 889.760 hectares at Katni, Madhya Pradesh pursuant to a Tripartite Agreement executed with the Government of Madhya Pradesh and Sanghi Infrastructure MP Limited. RCCPL has acquired 100 per cent equity shares of Sanghi Infrastructure. Accordingly, Sanghi has become a wholly owned subsidiary of RCCPL and a step down wholly owned subsidiary of Birla Corporation.

The Board of Sonata Software has accorded in principle approval for the merger of Gapbuster Ltd and its subsidiaries with group entities of Sonata Software Limited. The board also approved the merger of Gapbuster Limited and Gapbuster Europe Limited with Sonata Europe Limited; Gapbuster Worldwide Pty. Ltd. with Sonata Australia Pty. Ltd; Gapbuster Inc. with Sonata Software North America Inc; and Kabushiki Kaisha Gapbuster Japan, Gapbuster China Co. Ltd., and Gapbuster Worldwide Malaysia SDN BHD to be merged with their parent companies.

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GI Engineering Solutions has announced the receipt of first-ever confirmed order for supplying Structural Steel with a single order valued at an amount exceeding ₹16 crore. The company received the order from a reputed Infrastructure development company paving its way into project sales business for infrastructure and construction materials. The company has targeted to enter the Project Sales Segment alongside the distribution network for infrastructural steel and eying a sales target to achieve ₹2,000 million sales from its infrastructural materials business segment during FY 2023-24.

Medico Remedies Ltd. has completed its trial production rounds at the newly established ointment manufacturing plant at Palghar. The new facility measuring 15,000 sq ft. has been constructed adjacent to the existing plant which manufactures tablets and other medicines. The facility will have the capacity to manufacture up to three million tubes monthly.

Bisleri International Private Limited, the Principal of the Company, has increased the territory in which the company has been authorised to do business in packaged drinking water under the trademark soda and their other soft drink products from May 16. The business territory of the company has been increased from existing rights in part of West Bengal to the entire state of West Bengal and also the entire state of Sikkim. Besides, the company also has franchise rights for Jharkhand. 

Crosslay Remedies Limited, a wholly-owned subsidiary of Max Healthcare Institute Limited, has entered into an agreement to sell for acquisition of land and building admeasuring 4,000 square meters situated in Uttar Pradesh subject to fulfilment of certain conditions precedents post which CRL shall enter into definitive agreements.

The board of Adani Transmission Ltd has approved a proposal for raising funds by way of issuance of such number of equity shares having and/or other eligible securities or any combination thereof for an aggregate amount not exceeding ₹8,500 crore by way of Qualified Institutional Placement or other permissible mode.

Dr Reddy’s Laboratories has said that the United States Food & Drug Administration (USFDA) has completed a product-specific Pre-Approval Inspection (PAI) and a routine GMP inspection at our formulations manufacturing facility in Srikakulam (FTO SEZ PU2). The inspection was conducted from May 8 to May 12. We have been issued a Form 483 with four observations, which we will address within the stipulated timeline.

The board of IL&FS Transportation Networks Limited has approved the transfer of the entire shareholding in Pune Sholapur Road Development Company Limited (PSRDCL): 16 crore shares representing 90.91 per cent of the paid-up capital of PSRDCL to Roadstar Infra Investment Trust for a consideration of ₹1. Further, the company has also assigned its Receivables owed by PSRDCL amounting to ₹477 crore to Roadstar Infra Investment Trust to the Deed of Assignment executed with Axis Trustee Services Limited (as the Trustees) paid in the form of 4,74,33,603 units of the Trust aggregating to a value of ₹474.33 crore.

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Rainbow Children’s Medicare Limited (RCML) is expanding its bed capacity in NCR (National Capital Region) by adding two hospitals with a capacity of about 400 beds in Gurugram. The proposed expansion will strengthen the company’s existing footprint in the NCR and enable it to cater to the growing healthcare needs of the residents of Gurugram and northern states. The addition of these two hospitals will provide increased access to specialised pediatric and perinatal care services in the geography.

Results Calendar: Asahi India Glass, Astral, Century Plyboards, Coromandel International, Emkay Global Financial Services, Kalyan Jewellers India, Patel Engineering, PCBL, Pfizer, Procter & Gamble Health, PVR Inox, Skipper, Suryoday Small Finance Bank, Tube Investments of India, Ugro Capital, and Vascon Engineers.

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