Hexaware Technologies has announced a new delivery center in Manila, Philippines. The center expands Hexaware’s presence in the Philippines and will aim to tap into the talent pool in the region, leveraging it to offer digital transformation and operations solutions across geographies and sectors, according to a company release. The center will provide customer service, IT troubleshooting, and help desk support.
CG Power and Industrial Solutions Ltd has appointed Amar Kaul as its Managing Director and CEO, the company said on Tuesday. The company, part of the diversified conglomerate Murugappa Group, said his appointment is effective from July 25, 2024, for a period of five years.
The Carlyle Group on Tuesday divested a 12.8 per cent stake in PNB Housing Finance for ₹2,578 crore through open market transactions, while Singapore government, Monetary Authority of Singapore picked up stakes in the company. Carlyle group, through its affiliate Quality Investment Holdings PCC, offloaded 3,32,60,000 shares, amounting to a 12.8 per cent stake, according to bulk deal data available on the BSE. Shares were disposed of in the price range of ₹775.02-775.25. After the stake sale, Carlyle group’s stake-holding in PNB Housing Finance has declined to 19.88 per cent from 32.68 per cent. Aditya Birla Sun Life Mutual Fund (MF), DSP Black MF, HSBC MF and ICICI Prudential Life Insurance Company acquired 1.46 crore shares or 5.62 per cent stake in PNB Housing Finance.
The Competition Commission of India on Tuesday said it has approved the proposed amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Ltd. Mangalore Chemicals & Fertilizers is a company under the Adventz group and is engaged in the production and marketing of complex phosphatic fertilizers. Zuari Agro Chemicals Ltd holds 54.03 per cent stake in the company. CCI approved the amalgamation of MCFL with Paradeep Phosphates Ltd (PPL), on a going concern basis, the regulator said in a release.
Mining conglomerate Vedanta Ltd on Tuesday said it has received approval from 75 per cent of secured creditors for the proposed demerger of its businesses. The announcement marks an important step in Vedanta’s plan to split into six independent listed companies, including oil and gas and aluminium. In a statement, the company said it has received a go-ahead from 75 per cent of its secured creditors for obtaining clearance from stock exchanges and subsequently filing its demerger scheme with the National Company Law Tribunal (NCLT) for its proposed demerger.
SEBI on Tuesday barred real estate firm Omaxe, its chairman Rohtas Goel, managing director Mohit Goel and three others from the securities market for two years for irregularities in the company’s financial statements. The others restrained from the securities markets are -- Sudhangshu S. Biswal, Arun Kumar Pandey and Vimal Gupta.
The board of Indus Towers has approved buyback of up to 5.67 crore equity shares or 2.1% of the total equity shares in the paid-up share capital for ₹2,640 crore. The company will buyback shares at ₹465 apiece, at a 4 per cent premium to Tuesday’s closing price of ₹447.95.
The board of South Indian Bank has approved raising funds to the tune of ₹750 crore through a QIP, FPO or other methods.
Adani Energy Solutions has launched QIPs to raise funds. The company has fixed a floor price of ₹1,027.11 a share, which is a 9.5 per cent discount to Tuesday’s closing price.
Adani Enterprises, the flagship of the Adani Group, will be launching its qualified institutional placement later this month or early next month to raise anything from ₹6,000 crore to ₹10,000 crore. According to a report, the size of the issue will depend on the investor appetite. The company had taken board approval in May to raise up to ₹16,600 crore, but sources said that it may not raise the entire issue at one go. Work on the issuance is in progress, they added.
Results calendar: Maruti Suzuki, M&M, Coal India, Adani Power, Tata Steel, Ambuja Cements, Bank of Baroda, BHEL, Godrej Properties, Mankind Pharma, Prestige Estates, Phoenix Mills, GE T&D India, Tata Investment Corp, KPR Mills, Sundaram Fastners, Crompton Greaves, JBM Auto, Elgi Eqipments, Relaxo, Sonata Software, Birlasoft, RITES, Aster DM Healthcare, Action Construction Equipment, Lakshmi Machine Works, Redington, Asahi India Glass, Zee Entertainment, Electrosteel Castings, Thomas Cook, Deepak Fertilizers, Puravankara, JK Lakshmi Cement, KRBL, IIFL Securities, Pricol, Teamlease, Heidelberg Cement, Jain Irrigation, LG Balkrishnan, Greenply Industries, TCNS Clothing, Indian Metals & Ferro Alloys, Anup Engg, Nilkamal, John Cockerill India, Fino Payments Bank, Sasken Technologies, Satin Creditcare Network, Barbeque Nation, GPT Infraprojects, Steel Exchange India, Timex Group, Dwarikesh Sugar, Selan Exploration, Entertainment Network, National Peroxide.