After the Karnataka government to stop all transactions, State Bank of India and Punjab National Bank said that they are engaged with the state for an “amicable resolution” on the matter In the first official comments after the Karnataka government decision, the state-run lenders issued separate statements, saying the matter at the root of the problem is subjudice. “As the matter is currently subjudice, we are unable to provide any specific comments at this time. However, we remain in ongoing discussions with the Government of Karnataka to resolve the issue amicably,” the SBI statement said.

Tata Steel has acquired about 116 crore equity shares in its Singapore-based arm for $182 million. The steel major acquired 1,15,92,35,669 ordinary equity shares of face value $0.157 each aggregating to $182 million (₹1,528.24 crore) in T Steel Holdings Pte Ltd.

Ola Group has announced its foray into the electric motorcycle segment with the launch of three models and two more in the pipeline The group has also rebranded its ride-hailing service as Ola Consumer, announced a partnership with ONDC and launched automated warehousing solutions to cater to quick commerce requirements. Besides, Ola said it will bring to the market the first indigenously designed and developed family of chips for AI, general computing and Edge by 2026 under its Krutrim venture. Ola Electric Mobility on Wednesday reported a higher consolidated loss of ₹347 crore for the April-June quarter of 2024-25 compared to ₹267 crore in the same period last year. Revenue from operations for the quarter under review was ₹1,644 crore against ₹1,243 crore in the same quarter of the previous fiscal, according to an exchange filing

Swan Energy Ltd has said it plans to sell its stake in a floating LNG receipt terminal to Turkey’s state-run Botas for $ 399 million. The company plans to sell assets of subsidiary Triumph Offshore Pvt Ltd to Botas Trading IC, according to a regulatory filing. “The definitive documents shall be signed in due course,” it said, adding the deal is likely to be completed in six months.

Mahindra Holidays & Resorts India has said tax authorities have slapped a demand notice of about ₹16.77 crore, including a penalty from the Assistant Commissioner, Anna Salai, Chennai Central, Tamil Nadu. The company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, it added.

The Competition Commission of India has cleared IT and consulting firm Accenture’s acquisition of a stake in Vodafone Shared Operations. Vodafone Shared Operations Ltd (VSOL) is engaged in the provision of shared services to the Vodafone Group and its network of partner telecommunications companies. VSOL is a part of Vodafone Group Plc. “CCI approves the proposed combination involving the acquisition of shares of Vodafone Shared Operations by Accenture,” the regulator said in a post on X.

Sun Pharmaceutical Industries has acquired over 5 per cent stake in US-based Pharmazz Inc for $15 millionm resulting in more than 5 per cent holding in Delaware-based Pharmazz Inc. The pharma major will invest the amount in two tranches of $7.5 million each, subject to the fulfilment of certain conditions, it added.

Coromandel International said that the Tamil Nadu Pollution Control Board has granted permission to resume the operation of the other allied units (Phosphoric Acid Plant and Sulphuric Acid Plant) located at Ennore, Chennai without Ammonia Storage facility and also advised to comply with specified conditions. The Coromandel International’s fertiliser plant has been shut since December 26 following ammonia gas leak.

The board of Vedanta has increased the offer-for-sale size of 3.31 per cent stake from earlier proposed 2.6 per cent (11 crore shares) in Hindustan Zinc. Vedanta Ltd’s planned sale of its in subsidiary Hindustan Zinc Ltd (HZL) will boost funds available with the mining conglomerate for debt repayment and capital spending, CreditSights said on Thursday. Meanwhile, HZL said it plans to distribute the second interim dividend for the current fiscal. The Vedanta group firm has also fixed the record date August 28 for the special dividend, if approved, at the upcoming board meeting scheduled for August 20.

REC Ltd has incorporated a new subsidiary, Rajasthan IV 4B Power Transmission Limited, to support power evacuation efforts in Rajasthan’s Renewable Energy Zone, following a recent Ministry of Power directive.

The MTNL board has approved a service agreement with BSNL for a period of ten years, and also a slew of other proposals, including share-sale in overseas subsidiary Mahanagar Telephone (Mauritius). The board has also approved sale of shares of MTNL in MTNL STPI IT Services Ltd or MSITS, according to regulatory filing by MTNL.

Signature Global, which has a significant presence in the Gurugram property market, is looking to enter Delhi, Noida and Greater Noida by launching housing projects in these new locations.

Investment management firm Vanguard Group on Wednesday bought more than 1.14 crore units in REIT firm Nexus Select Trust for ₹158 crore via open market transactions at an average price of ₹138.42 , while Morgan Stanley sold its stake in the company. 

JNK India has received a Large* order from Hindustan Petroleum Corporation Limited (“HPCL”) on August 14, 2024 for setting up a new Process Plant - HP TDAE (Treated Distillate Aromatic Extracts) unit on LSTK (Lump sum Turnkey) contract basis at HPCL Mumbai Refinery.

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