Zomato has said that it is in talks with fintech player Paytm to acquire its movie and ticketing business. This comes at a time when the fintech player is focusing on core businesses of payments and financial services. At the same time, the food delivery major is looking to tap into the growing consumer demand for going-out and entertainment segment.
Meanwhile, Paytm is merging its ‘Insider’ and movie ticketing businesses. In a BSE filing, One97 Communications Ltd, the parent of Paytm, said, ”The company routinely explores various strategic opportunities aimed at enhancing shareholder value. The potential transfer of Paytm’s Entertainment business, a component of our Marketing Services, is one opportunity under consideration.“ It added that this was in line with its strategy to focus on payment, financial services, and digital goods commerce.
Hindustan Aeronautics has informed the exchanges that a Request for Proposal (RFP) has been issued by the Ministry of Defence for the procurement of 156 Light Combat Helicopters. Out of these 156 Light Combat Helicopters, 90 are for the Indian Army and 66 for the Indian Airforce.
Tata Consultancy Services has received an adverse judgment from the US District Court, Northern District of Texas, Dallas Division, under which, the company is liable to pay $194.2 million for misappropriation of trade secrets. TCS maintains that it has strong arguments to counter the ruling and plans to defend its position through a review petition or an appeal to the appropriate court.
Bondada Engineering has received work orders from Bharti Airtel for supply of 6 mtr height GI pole wt 60 kg (hot dipped galvanised) without base, amounting to ₹2.05 crore (including GST) to Tamil Nadu.
In relation to preliminary impact assessment of Pratt & Whitney powder metal issue, resulting in removal of higher number of engines from service and grounded for inspection and replacement, InterGlobe Aviation (IndiGo) finalised an amendment to the existing agreement with International Aero Engines, LLC, an affiliate of Pratt & Whitney. Accordingly, IAE will provide IndiGo with a customised compensation in relation to the ongoing situation of Aircraft on Ground due to unavailability of engines.
Bhumika Group’s Urban Square Mall (Udaipur) has announced the opening of Lemon Tree Hotel. The property is known as Keys Lite by Lemon Tree. Located within the Urban Square mall, Keys Lite by Lemon Tree - Urban Square offers 68 fully-serviced apartments designed to provide a harmonious blend of comfort and sophistication, per the company.
Global pharma major Lupin Limited has appointed Abdelaziz Toumi (Abdel) as the Chief Executive Officer of its newly formed subsidiary, Lupin Manufacturing Solutions (LMS). LMS is engaged in the development, manufacture and sale of active pharmaceutical ingredients and is starting to build its contract development and manufacturing operations (CDMO) business.
Alembic Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Icatibant injection used for treatment of acute attacks of hereditary angioedema (HAE) in adults 18 years of age and older.
Zydus Lifesciences has informed the exchanges that drug regulator USFDA classifies injectable manufacturing unit at Pharmez SEZ, Matoda unit as Official Action Indicated. The USFDA had conducted an inspection at the injectable manufacturing unit at Motada from March 18 to 27.
Hindustan Oil Exploration Company Limited has announced that the export flowline is cleaned up in Block B-80 and both the wells D1 and D2 are lined up for production. Current field production is about 1,300 bopd and 6 mmscfd of gas, respectively.
The Board of National High Power Test Laboratory Pvt. Ltd. (NHPTL) has approved the transfer of 1,31,63,750 shares from NTPC Limited to Power Grid Corporation of India Limited, in line with the supplementary joint venture agreement signed between JV Partners of NHPTL. The post-transaction equity holding of NTPC Limited in NHPTL becomes 12.50 per cent from 20 per cent. Accordingly, NHPTL ceases to be an associate company of NTPC Limited.
European Commission said HFCL is the only Indian company not engaged in dumping of OFC in European markets whereas provisional anti-dumping duty has been determined on all other Indian optical fibre cable manufacturers. This makes HFCL as the only Indian optical fiber cable manufacturer to have been exempted from anti-dumping duties by European Commission.
Vishnu Prakash R Punglia Ltd has announced the receipt of a letter of acceptance from the office of DY CE-C-BKN-Engineering, North Western Railway Bikaner. The letter pertains to the project titled “Earthwork in filling and cutting in formation, blanketing, trolley refuges, toe, wall, retaining wall, pitching, construction of minor bridges & LHS, FOB, platform, platform shelters, S&T structures, cable duct and other ancillary works between Sadulpur to Churu in connection with Churu- Sadulpur doubling project.” The tender, evaluated and accepted by the competent authority, is valued at ₹90.897 crore.
Nava Ltd said its 60 MW captive power plant-1 (CPP-2) located at Kharagprasad in Odisha is scheduled for carrying out routine overhaul and maintenance from June 17 to July 31, 2024. The CPP-2 will resume operations with effect from August 1, 2024. The ferro alloy plant is fully operational with power supply from the 30 MW captive power plant-1 (CPP-1) of the company.
Biocon said the US Food and Drug Administration (USFDA) concluded a GMP inspection of its API facility (Site 6), located at Visakhapatnam, Andhra Pradesh, on 14 June 2024. “Three observation were cited at the end of the inspection, which we will be addressing within the stipulated time,” per the company.
Electronics Mart India has commenced the commercial operations of a new 8,000 square feet multi brand store under the brand name ‘Bajaj Electronics’ in Nizamabad, Telangana.
Union Bank of India has conveyed its approval to the one time settlement (OTS) offer submitted by PC Jeweller. The company had opted for OTS to settle the outstanding dues. The terms and conditions of approved OTS include cash and equity component payable under settlement, release of securities and mortgaged properties, etc.
GGMR Hyderabad Vijayawada Expressways Private Limited (GHVEPL), a Subsidiary of GMR Power and Urban Infra Limited, is in advanced stage of settlement of its claims with National Highway Authority of India (NHAI) and closure of loans with its consortium of lenders.
IIFL Finance has received approval from NSE to divest equity shares aggregating up to ₹84.70 crore of NSE through secondary market. In a separate disclosure, the company said the Reserve Bank of India (RBI) concluded its special audit of the company, initiated in response to significant concerns identified in its gold loan portfolio.
The Indian Council of Agriculture Research-National Bureau of Soil Survey and Land Use Planning (NBSS&LUP) has entered into a memorandum of understanding (MoU) with Coromandel International (CIL). The fertilizer company informed the exchange that the collaboration aims to enhance the dissemination of improved soil test-based crop nutrition management to benefit farmers in Maharashtra, particularly in the Vidarbha and Marathwada regions.
Jainam Ferro Alloys (I) Limited has commissioned 4 MWp captive solar power plant on June 15, 2024 and the same has been duly synchronised with the grid. The power generated from the plant will be captively consumed by ferro plant of the company. The generation of solar energy will not only support the green initiatives and reduce the carbon foot print, but also help saving in cost of power consumption by the company, per a statement.
Tanla Platforms, a CPaaS provider has announced the appointment of Abhishek Kumar Jain as Chief Financial Officer, effective August 1. Abhishek will join Tanla post a nearly two-decade stint in Wipro Ltd, a leading publicly traded IT Services company.
The Board of Godawari Power & Ispat Ltd has approved a buyback offer of 21.5 lakh fully paid-up equity shares at ₹1,400 a share for ₹301 crore. The buyback is proposed to be undertaken from equity shareholders/beneficial owners of the company as on June 28, 2024 (record date), on a proportionate basis through the tender offer route using stock exchange mechanism.
JNK India Limited has received ₹350-₹500 crore order from Reliance Industries Limited (RIL) for gas cracker unit (GCU) de-bottlenecking (DBN) project at RIL’s Nagothane manufacturing division (NMD), Maharashtra.
Provident Housing, the wholly‐owned subsidiary of Puravankara Limited, in its normal course of business has purchased the landowner’s share in its Adora De Goa project in Dabolim, South Goa for a consideration of ₹122 crore, with additional GDV of ₹215 crore. The said project is registered with Real Estate Regulatory Authority, Goa.
Response Informatics has entered into a non-binding term sheet with an artificial intelligence (AI) and blockchain focused solutions and development company. However, the implementation of the term sheet and the acquisition of stake is subject to completion of legal, financial, business, and commercial due diligence, per the company.
Nila Spaces has won a bid for a significant residential building development project at GIFT SEZ. This project, located in dual-use non-processing area of GIFT City, involves the development rights for a minimum of 5,22,000 square feet.