SJVN expects its under-construction 900 MW Arun-3 hydro-electric project in Nepal to start power generation from next year as nearly three-fourths of work has been completed, its chairman and managing director Sushil Sharma said on Tuesday. Nepal Prime Minister Pushpa Kamal Dahal triggered the last blast to mark the completion of heading excavation 11.8 km long head race tunnel of 900 MW Arun- 3 Hydro Electric Project in Sankhuwasabha district of Nepal, SJVN said in a statement.

The merger of Tata Motors Finance with Tata Capital has been approved by their respective boards, according to a filing. Tata Motors Finance Ltd is step-down wholly-owned subsidiary of Tata Motors Ltd. The auto major in the filing stated that its board has also approved the merger of Tata Motors Finance Ltd with Tata Capital Ltd. Meanwhile, the board of Tata Motors has approved to set up a wholly-owned subsidiary to house commercial vehicles business. The company has proposed the name of the new unit as TML Commercial Vehicles Ltd (TMLCVL).

Jindal Stainless has completed the acquisition of Evergreat International Investment Pte Ltd, Singapore (EIPL). “Acquired 100 per cent stake of EIPL. Consequently, EIPL has become a wholly owned subsidiary, and Chromeni Steels Private Limited (CSPL) a step-down subsidiary,” JSL said in an exchange filing. The acquisition is with effect from June 4, it said.

Punjab National Bank (PNB) on Tuesday said it will sell 10 per cent stake in Canara HSBC Life Insurance Company by listing the insurer on the stock exchanges. Currently, PNB holds 23 per cent in the insurance firm.

The board of State Bank of India will meet on June 11 to consider long-term fund raising in single/multiple tranches of up to $3 billion through a public offer or private placement of senior unsecured notes in US Dollar or any other major foreign currency during FY 2024-25.

The board of NLC India will meet on June 10 to consider raising foreign currency loans through external commercial borrowings (ECB) of up to $600 million through the direct route, subject to RBI guidelines. The board will also seek external assistance from multilateral development banks (MDBs) through the Department of Economic Affairs (DEA) for upcoming renewable power projects.

Container Corporation of India and Shipping Corporation of India has signed an MOU to provide a seamless end-to-end logistics solution.

Wipro has partnered with Zscaler to introduce Wipro Cyber X-Ray, an AI-assisted decision support platform. Wipro Cyber X-Ray empowers enterprise CXOs to make optimised security investment decisions and communicate cyber values to senior leadership and the board.

CARE Ratings has revised rating assigned to Vodafone Idea’s long-term bank facilities to CARE BB+ from CARE B+ with outlook maintained as Stable. Ratings on short-term bank facilities also revised to CARE A4+ from CARE A4.

Nuvama Wealth Management has incorporated a wholly-owned subsidiary - Nuvama Wealth Management (DIFC), in Dubai.

Deep Industries has received a Letter of Award from Oil and Natural Gas Corporation (ONGC), Kakinada, for the hiring of DPDU (GDU) for processing gas for 10 months. The total estimated value of the award is ₹56 crore.

Texmaco Rail & Engineering has entered into a Shareholders’ Agreement & Share Purchase Agreement with Saira Asia Interiors & its existing shareholders for the acquisition of a 51 per cent shareholding in Saira Asia Interiors for ₹9 crore.

Uflex has entered into a Power Purchase Agreement and Share Subscription and Shareholders’ Agreement for the acquisition of 5.03 per cent shares in Onevolt Energy for ₹9.6 crore.

Shilpa Medicare has said its wholly owned subsidiary Shilpa Biologicals, has filed its first Drug Master File of recombinant Human Albumin 20 per cent with the USFDA. Recombinant Human Albumin 20 per cent targets to fulfill the growing demand for human serum albumin to meet current and future market demand.

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