Aster DM Healthcare Ltd and Quality Care India Ltd, backed by Blackstone and TPG, one of the largest privately held hospital chains in India with a focus on emerging cities, have signed definitive agreements for a merger. The merger has been approved by the board of directors of the respective companies and is subject to regulatory, corporate and shareholders’ approvals. The merged listed entity will be named Aster DM Quality Care Ltd.

Biocon Biologics, subsidiary of Biocon, said the US Food and Drug Administration (FDA) has approved YESINTEK (Ustekinumab-kfce), a biosimilar to the reference product, Stelara (Ustekinumab). YESINTEK, a monoclonal antibody, is approved for the treatment of Crohn’s disease, Ulcerative Colitis, Plaque Psoriasis and Psoriatic Arthritis.

ITC has acquired the entire share capital (comprising 4,20,60,166 equity shares of ₹10/- each) of Greenacre Holdings (GHL), an unlisted company, from Russell Credit, a wholly-owned subsidiary (WOS) of the company. Consequently, GHL has become a direct WOS of the company. The acquisition forms part of restructuring within the group. GHL is engaged in property infrastructure maintenance, and providing engineering, procurement, construction management and project management consultancy services.

 Cochin Shipyard Ltd (CSL) has signed a contract worth ₹1,207.5 crore with the Ministry of Defence (MoD) for Short Refit and Dry Docking of INS Vikramaditya. The estimated contract value is above ₹1,000 crore and the estimated duration for the project is around 5 months, said the PSU major in a disclosure to the stock exchanges. 

Hinduja Tech Ltd has completed the acquisition of Germany-based engineering services provider TECOSIM Group GmbH, marking a significant milestone in its vision to become a top 10 global mobility engineering company. Hinduja Tech Ltd, a subsidiary of Ashok Leyland, is a mobility focused global engineering, research and development technology company. The strategic move highlights Hinduja Tech’s ongoing commitment to enhancing its global automotive engineering market leadership. The acquisition would provide operational efficiencies, increased competitiveness, and a stronger global market presence, Hinduja Tech said in a company statement.

Jet fuel, or ATF, price was hiked by 1.45 per cent and rates of commercial LPG used in hotels and restaurants increased by ₹16.5 per 19-kg cylinder in the monthly revision done on Sunday in line with international oil price trends. The aviation turbine fuel (ATF) price was increased by ₹1,318.12 per kilolitre, or 1.45 per cent, to ₹91,856.84 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers. Aviation companies will remain in focus.

ONGC Videsh (OVL), the overseas investment arm of Oil and Natural Gas Corporation (ONGC), has completed the acquisition of Norwegian firm Equinor’s stake in an oilfield and an associated pipeline in Azerbaijan for $60 million. According to ONGC’s latest disclosure, OVL acquired a 0.615 per cent participating interest (PI) in the offshore Azeri Chirag Gunashli (ACG) oilfield, along with a 0.737 per cent share in the Baku-Tbilisi-Ceyhan (BTC) pipeline. 

The board of BSE-listed Protean eGov Technologies has approved making an application to the listing and trading platform of National Stock Exchange of India Ltd (“NSE”) on main board for listing the fully paid-up equity shares of the company. Accordingly, the company has made an application to the NSE for the listing process on November 29.

Padget Electronics Private Ltd, wholly-owned subsidiary of Dixon Technologies, to launch mass production of Google Pixel (smartphones) for Compal’‘s designated customer- “Google Information Services India Private Limited”.

Power Mech Projects has bagged an order worth ₹510 crore (excluding GST) from Adani Power. The order caters to the performance of mechanical construction works for the 2×800 MW Raipur Phase-II Ultra Supercritical Thermal Power Project (Project), at Raikheda village in Raipur district, Chhattisgarh.

KEC International has bagged new orders worth ₹1,040 crore in its T&D business in international markets.

Adani Airport Holdings Ltd (AAHL), wholly-owned subsidiary of Adani Enterprises, has acquired a 99 per cent stake in Aviserve Facilities and Aviground Facilities for ₹1.98 crore, with ₹99 lakh each allocated to them.

H.G. Infra Engineering Ltd has been declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd for 250 MW/500 MWH out of the project for setting up of a 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat under tariff-based global competitive bidding (Phase-IV) with Viability Gap Funding support. 

The board of Brightcom Group Ltd has approved the appointment of Paladugu Venkata Subba Rao and Deepika Daliya as  Non-Executive Independent Directors of the company. Its board has also approved the appointment of Shweta Singh as a whole-time Company Secretary.

Retirement fund body EPFO on Saturday approved an amnesty scheme to encourage compliance by employers, allowing them to deposit past provident fund dues without any penalty. The Central Board of Trustee (CBT), the apex decision-making body of the Employees’ Provident Fund Organisation (EPFO), headed by Labour Minister Mansukh Mandaviya on Saturday recommended the EPFO Amnesty Scheme 2024 to the Central Government, a Labour Ministry statement said. REIT and InVIT will be in focus.

Religare Enterprises has received warning letters from the NSE and the BSE for delay in disclosing the Reserve Bank of India’s refusal letter for appointment of Rakesh Asthaana as additional director. The company had received the letter from RBI on May 15, but disclosed it to the exchanges only on October 24 after the intervention of bourses.

RBL Bank and Bajaj Finance on Friday announced an end to the issue of co-branded credit cards and the bank has stopped issuing any such fresh cards. Over 34 lakh users of the co-branded credit cards will continue to be served by the private sector lender and enjoy all the benefits as listed earlier, as per an official statement. RBL Bank said it has reduced the dependence on the origination of co-branded cards with BFL (Bajaj Finance Ltd) over the last one year, from 1,26,000 in September 2023 to 37,000 cards in September 2024.

Pearl Academy, a unit of the Creative Arts Education Society (CAES), on Saturday said it has collaborated with Tech Mahindra to set up the ‘Makers Lab’, which will serve as an innovation hub focused on Generative AI (GenAI), metaverse, and gaming. The lab will be set up in Bengaluru.

 Paisalo is raising funds by issuance of 7.5% Secured Foreign Currency Convertible Bonds up to $75 million in one or more tranches, with a maturity of 5 years as per applicable ECB guidelines set forth by the Reserve Bank of India. Paisalo is considering an issue size of up to $75 million equivalent to ₹633.53 crore, the number of equity shares on conversion would be approximately 139,759,762 equity shares of ₹1 each of the company calculated on the basis of floor price.

TVS Sricharkra Ltd said it has received a demand order from the State Tax Officer, Rudrapur, pertaining to discrepancies in the e-way bills generated for the movement of imported materials from Chennai Customs to the Uttarakhand plant. The order imposes a penalty of ₹11,22,240

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