IndusInd Bank has infomred the exchanges that the RBI has allowed HDFC Bank to acquire an “aggregate holding of up to 9.50 percent of the paid-up share capital or voting rights” in the lender. IndusInd Bank said the RBI approval followed the application made by HDFC Bank to the regulator. The approval is valid for one year and if HDFC Bank fails to acquire the shareholding within that period, the approval stands cancelled.

The board of Life Insurance Corporation of India (LIC) will meet on February 8 to consider the unaudited financial results for the quarter and nine-month period ended on December 2023. Further, In the said meeting, the board may consider a proposal for the declaration of an interim dividend for FY24.

Commercial real estate investment platform Strata on Monday acquired the 11-storey Cafe Coffee Day Square, located on tony Vittal Mallya Road area in Bengaluru, for ₹150 crore. The CCD headquarters has a built-up area of over 1 lakh sqft spread across 11 floors with each floor measuring around 9,000 sqft. The property is surrounded by upscale malls, premium retail outlets, restaurants, transportation hubs, ATMs, and more, Strata said in a statement. The largest coffee chain has been in financial trouble which led to founder VG Siddhartha to commit suicide in July 2019. The company had run up to debt pile of over Rs 7,200 crore from banks and external investors like US fund major KKR.

Adani Total Gas has signed a mutual support agreement with Inox India to strengthen the LNG ecosystem in India. Accordingly, the company and Inox India will collaborate for delivery of LNG & LCNG equipment and services.

Steel Authority of India Ltd (SAIL) may invest Rs 20,000-24,000 crore in setting up a four-million-tonne greenfield steel plant at its IISCO plant in West Bengal, officials said. It plans to produce high-end flat hot rolled coil (HRC), including for automotive applications, at its existing site at Burnpur and has received in-principle approval, they added.

Max Healthcare Institute on Monday said it has tied up with UK-based Royal College of Obstetricians & Gynaecologists to enhance specialty training programme in the field. The purpose of the partnership is to leverage the strengths of both organisations to promote and conduct training in obstetrics and gynaecology, assessment and certification of training in India.

The Indian Energy Exchange’s (IEX) total trade volume rose 26 per cent year-on-year to 10,893 million units in January 2024. It had recorded 8,639 million units (MU) trade volume in January 2023, the power exchange said in a statement. IEX achieved the highest-ever total volume in January at 10,893 MU, including 9,137 MU from the conventional power market segment, 236 MU from the green market segment, and 15.20 lakh RECs (equivalent to 1,520 MU), it added. In the Day-Ahead Market (DAM), the traded volume was 5,540 MU compared to 4,893 MU in January 2023, an increase of 13.2 per cent. The Real-Time Electricity Market (RTM) volume increased 13 per cent year-on-year to 2,380 MU in January from 2,102 MU in the same month last year.

TVS Supply Chain Solutions said that wil invest up to ₹250 crore through loan, equity or equity-like instruments in its wholly owned overseas subsidiaries - TVS Logistics Investments UK Ltd, TVS Logistics Investments Inc USA and TVS Supply Chain Solutions Pte. Ltd., Singapore. The indicative time period for completion of the funding in its overseas subsidiaries is by December 2025. Being a cross border transaction, it will require copliance under the Foreign Exchange Management Act, the company further said.

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