Tata Consultancy Services (TCS) has rolled out a new operating structure based on industry verticals. Accordingly, TCS rejigged its senior leadership, adding several new senior executives, global heads and veterans who have spent over 18-30 years with the company. Under the new structure, the current heads of Industry Solutions Units (ISU) will report to seven business group leaders. Shankar Narayanan, Senior Vice President will head the BFSI UK, Europe and Australia group and V Rajanna, Senior Vice-President to Head of the Communications, Media and Technology businesses. Susheel Vasudevan, who will head Americas’ BFSI, Debashis Ghosh to lead energy, transportation and hospitality, Anupam Singhal to lead the manufacturing unit, and Krishnan Ramanujam to lead retail, CPG, travel, and transportation and hospitality. 

Siemens has informed the exchanges that its shareholders have voted against its proposed sale and transfer of the company’s low voltage motors and geared motors businesses to Siemens Large Drives India Private Limited. The company had sought the approval of its Members in relation to the aforesaid matter vide the postal ballot notice dated June 23.

Bharat Petroleum Corporation Limited (BPCL) has forged a strategic partnership with Ather Energy to further strengthen and expand India’s largest EV charging network. Through this collaboration, Ather Energy gains access to BPCL’s extensive network of over 21,000 fuel stations across the country, enabling the installation of Ather’s fast-charging Grid.

Tata Communications has announced completion of the acquisition of remaining 41.9 per cent equity in Oasis Smart SIM Europe SAS (Oasis), a leading embedded-SIM (eSIM) technology provider, through its Singapore-based subsidiary Tata Communications International Pte Limited (TCIPL). With the close of this transaction, Tata Communications now completes acquisition of 100 per cent equity shareholding in Oasis Smart SIM Europe.

Power Grid Corporation‘s board has approved a proposal to raise up to ₹5,700 crore through issuance of bonds on private placement basis in multiple tranches in 2023-24.The fund raised will be used to part finance its capex requirement, for providing inter corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes.

Macrotech Developers invested ₹1,000 crore during the April-June period on the construction of various projects and will pump in ₹3,500 crore more by March next year as part of its strategy to ramp up execution capabilities.

Shree Cement East, wholly owned subsidiary of Shree Cement, has started commercial production at its clinker grinding unit in West Bengal with cement capacity of 3.0 MTPA.

Piramal Enterprises has received approval from the board of directors for buyback of up to 14 crore equity shares at ₹1,250 a share, aggregating to ₹1,750 crore, through the tender offer route.

Electronics Mart India Limited has commenced the commercial operation of a new Multi Brand Store of 6,375 sq.ft. under the brand name ‘Bajaj Electronics’ on July 29 in Telangana.

MMTC is in receipt of information about Notices of Default initially to the tune of approximately $11.50 million addressed to MTPL, Singapore (a wholly owned subsidiary of MMTC Ltd), from the overseas branches of Indian Overseas Bank, Bank of India and UCO Bank

Alphalogic Industries has won order for design, manufacture, supply and installation of Storage Racking System and Staff Locker from Shoppers Stop Limited for their unit based in Warangal, Telangana. The order value is ₹6.09 lakh Inclusive of GST.

The eSync Alliance, a global automotive initiative to standardise over-the-air (OTA) updates and diagnostics, has welcomed global design and technology service provider Tata Elxsi as its latest member.

Virinchi Ltd has entered into a Multi-Year Agreement with one of the leading Micro Lending companies in the US that will add $2-2.5 million per annum to the top line of the company going forward. The initial Term of the agreement is for 5 years from July 28. The contract is for implementation, hosting, support and maintenance of the Base QFund Applications by the company for use by the customer.

Indo Thai Realities Limited, a subsidiary company of Indo Thai Securities Limited, has reported a fire incident. According to it, it has some assets which are fixed/installed at ‘Sky Square’ building at IIndore, Madhya Pradesh (herein after the “assets”). The said assets contribute 5.25 per cent to consolidated total income of the company as per last audited financial statement of the company. There is adequate insurance coverage for said assets and intimation to Insurance Company has already been made, it further said.

Gland Pharma said the United States Food and Drug Administration (US FDA) has conducted Good Manufacturing Practice (GMP) Inspection at the Company’s VSEZ Sterile Oncology Facility at Visakhapatnam between July, 20 and 28. The inspection was concluded with Zero 483 observations and a classification of No Action Indicated (NAI).

Raymond Realty, the real estate arm of Raymond, has expanded its presence in Thane market with the launch of its fourth project Address by GS 2.0. 

The Board of Shilchar Technologies has approved a proposal to increase the Authorised Share Capital from ₹5 crore to ₹10 crore as it recommended issuance of bonus shares in 1:1 ratio.

Results calendar: Adani Green, Adani Transmission, Allied Digital Services, Asahi India, Auro Labs, Bajaj Hindusthan, Best Agrolife, Bosch, Butterfly Gandhimathi, Castrol, CFF Fluid, Control Print (also for buyback), Continental Chemicals, Cupid, Dhanlaxmi Bank, Dharmaj Crop, Dynamic Cables, GAIL (India), Go Fashion, HDIL, Heritage Foods, HG Infra, HIL, HMA Agro, Infobeans Tech, India Pesticides, IRB Infrastructure, JBM Auto (also Preferential issue), JIK Industries, Kamdhenu, Keynes Technology, KEI Industries, LMW, Linc, Maruti Suzuki, Mold-Tek Tech, Navin Fluorine, NOCIL, Oberoi Realty, Petronet LNG, Phospate Company, Power Grid Corporation (also for bonus issue), Prakash Industries, R Systems, Som Distilleries, Shivalik Bimetal, Shree Ganesh Remedies, Sumitomo Chemicals, Transport Corporation of India, Teesta Agro Industries, UFO Moviez, UPL, Valecha Engineering and Welspun India

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