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Zee Entertainment Enterprises will remain focus on reports that Invesco Oppenheimer Developing Markets Fund is planning to sell 5.65 per cent stake (worth ₹1,130 crore) in the company through block deals. According to media reports, the stake sale could happen ₹199.80-208.15 a share.
Tata Motors has said that it will marginally increase price of its passenger vehicles from May 1. The weighted average increase will be 0.6 per cent, depending on the variant and model.
It has been absorbing a significant portion of the increased costs on account of regulatory changes & rise in overall input costs and is hence compelled to pass on some proportion through this hike, it said in a release.
The board of HDFC Bank has approved the issuance of Perpetual Debt Instruments, Tier II Capital Bonds and Long-Term Bonds (Financing of Infrastructure and Affordable Housing) up to total amount of ₹50,000 crore over the period of next twelve months through private placement mode, subject to the approval of the shareholders.
Zydus Lifesciences Limited has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Isoproterenol Hydrochloride Injection USP, 0.2 mg/mL and 1 mg/5 mL (0.2 mg/mL) single-dose vial.
Isoproterenol hydrochloride injection is indicated to improve hemodynamic status in patients in distributive shock and shock due to reduced cardiac output and for treatment of bronchospasm occurring during anaesthesia. The drug will be manufactured at the group’s injectable manufacturing facility at Jarod, Vadodara (India).
Texmaco Rail & Engineering Limited has incorporated a wholly-owned subsidiary — Belgharia Engineering Udyog Private Limited. The company is into manufacturing of rolling stock, hydro mechanical equipment, steel castings, rail EPC works, construction of bridges and other steel structures, etc. The objective of the formation is to explore additional opportunities in sectors to supplement the businesses of parent company.
TVS Eurogrip, subsidiary of TVS Srichakra, has launched adventure touring tyres and superbike tyres.
Muthoot Finance Limited has completed the pre-payment of external commercial borrowings to the tune of $225 million on April 13. Consequent upon the pre-payment of the external commercial borrowings, the company has initiated steps for cancellation of the senior secured notes issued by the company under the GMTN Programme and listed on the International Securities Market of the London Stock Exchange.
Godrej Properties Ltd has acquired 18 land parcels last fiscal for development of new projects with an estimated sales potential of around ₹32,000 crore. Earlier, Godrej Properties had given a guidance that for future development it would add land parcels that have sales revenue potential of ₹15,000 crore.
The Securities and Exchange Board of India (SEBI) has slammed Brightcom Group, an ad-tech company based out of Hyderabad, for concealing information, non-compliance, and violating norms.
Stating that the company has understated expenditures and overstated profits during the investigating period of 2014-15 to 2019-20, it served a show-cause notice on the top executives of the company, including its Chairman and Managing Director Suresh Reddy.
“The scale of fraud is indeed large. The company attempted to camouflage accounting entries in excess of ₹1,280 crore during 2018-19 and 2019-20 to give a distorted picture of its financial position,” SEBI said in its 77-page order on Thursday.
In its interim order, it has directed the promoters not to shed their stake. In a response to SEBI show-cause notice, it said Both BGL (Brightcom Group Limited) and the nominees have noted the directions offered by the SEBI. The company is taking legal advice with respect to the overall matter.
The company and its key officers will, respectfully, respond to the said Show cause notice, about its reasons for treating the impairment charges in a particular manner, as well as on the other issues raised by the SEBI, it further said.
Max Healthcare Institute Limited, which had earlier entered into a share purchase agreement, shareholders’ agreement for acquisition of equity stake in Eqova Healthcare Private Limited in a phased manner, has completed the acquisition of additional 34,000 equity shares having face value of ₹10 each, representing 34 per cent of paid up equity share capital of Eqova.
Vivanta Industries Limited is establishing the Electrical Vehicle charging & manufacturing unit in Delaware, US. The plant will be established in 18-24 months and the software will be developed in 6-12 months from the date of Receipt of Order (Memorandum of Understanding). The company is expecting to reach sales worth approximately $10 million from the project.
IBL Healthcare Limited, a wholly owned subsidiary of Indrayani Biotech Limited is intending to invest in KNISS Laboratories Ltd by subscribing to the company’s proposed issuance of Compulsory Convertible Debentures (CCDs). KNISS is a ISO certified pharma manufacturing unit.
The board of Asian Petroproducts and Exports Ltd had allotted 23,87,500 warrants convertible into equivalent number of equity shares on preferential basis to the promoter and promoter group on November 30, 2021. Consequently, the Board has issued and allotted 9,70,000 to the warrant holders.
Sona BLW Precision Forgings Ltd, one of the leading global providers of automotive technology solutions, has inaugurated its second-largest manufacturing plant in Chakan, Pune. The new plant manufactures driveline products for EV and non-EV applications and serves customers in India and globally.
The Board Phyto Chem (India) has approved the proposal for increase of authorised capital of the company from ₹13.50 crore to ₹24.50 crore. The board has approved the proposal of Rights Issue of the company up to 2 crore equity shares of ₹10 each.
- Results Calendar: Angel One, Hathway, Just Dial, Justride Enterprises, Kintech Renewables, Morganite Crucible, Network18, Quick Heal Tech and TV18Broadcast.
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