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The Competition Commission of India (CCI) on February 2 announced the imposition of monetary penalty on five major tyre manufacturers for "indulging in cartelisation". A penalty of ₹425.53 crore was levied on Apollo Tyres, ₹622.09 crore on MRF, ₹252.16 crore on CEAT, ₹309.95 crore on JK Tyre and ₹178.33 crore on Birla Tyres, the CCI said in a statement.
The Board of Directors of Maharashtra Seamless has approved acquisition of 56 lakh equity shares of ₹10 each (41.82 per cent) of United Seamless Tubulaar Pvt. Ltd. The acquisition will consolidate its business of seamless pipes and tubes. The cost of acquisition is ₹12.42 a share as per the valuation report of the independent valuer, pursuant to Rule 11 UA(1) of the Income Tax Rules, 1962 and other applicable provisions.
Hercules Hoists Ltd has agreed, subject to fulfilment of certain conditions precedent by the parties, for sale and transfer of its Mulund land approximately 8,327 square meters (2.05 acre), together with the structures standing thereon, situated at 110, Minerva Industrial Estate, Mulund West Mumbai for a lumpsum consideration of Rs 90 crore. The company has received part payment of 10 per cent of the total consideration.
Bharat Dynamics Ltd and the Indian Army have signed a contract worth Rs 3,131.82 crore for manufacture and supply of Konkurs - M AntiTank Guided Missiles. The contract, which was signed at New Delhi on Wednesday, will be executed in three years. The order book position of BDL stands at Rs 11,400 crore (net) including the Konkurs-M deal.
Cupid Ltd has received an allocation for 2022-2023 from the South African Government for supply of Male Condoms worth Rs 31.94 crore (Approx.) and female condoms worth Rs 68.70 crore.
Results Calendar: 3M India, Aavas Financiers, Aditya Birla Capital, Adani Power, Adani Transmission, Aksh Optifibre, Ambika Cotton Mills, Asahi Songwon, Barbeque-Nation Hospitality, Brigade Enterprises, Cadila Healthcare, Caplin Point, Century Enka, Coromandel International, Dishman Carbogen Amcis, Deep Industries, EIH Hotel, Emami, Future Market Networks, Foods Inns, GAIL (India), Godrej Properties, GMM Pfaudler, Hawkin Cookers, HCC, HG Infra Engineering, IG Petrochemicals, India Pesticides, ITC, India Pesticides, JK Tyre & Industries, Jubilant Industries, Kakatya Cement, Kalyan Jewellers India, Kennametal, Kirloskar Industries, Kopran, Lupin, Lux Industries, Mahindra Holidays, Nahar Spinning, NESCO, Pfizer, PI Industries, Prince Pipes and Fittings, Radico Khaitan, Rolex Rings, Saksoft, Shanti Gear, Sigachi Industries, SIS, Sumitomo Chemical India, TBZ, Thomas Cook, Titan Company, Torrent Power, Varun Beverages, Welspun India and Westlife Development.
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