The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group. The fair trade regulator CCI has already approved the merger of Viacom 18 and Star India and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it. “The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY 25,” informed Reliance Industries on Monday in its quarter earning statement.
One of the promoters of Transformers and Rectifiers (India) on Monday sold a 1.8 per cent stake in the company for Rs 211 crore through an open market transaction. According to the block deal data available on the National Stock Exchange (NSE), Jitendra Mamotra sold 27 lakh shares, at an average price of Rs 780.30.
Sunteck Realty Ltd on Monday reported a 33 per cent increase in sales bookings to Rs 524 crore in the September quarter on better housing demand. Its sales bookings (pre-sales) stood at Rs 395 crore in the year-ago period. The company’s sales bookings rose 31 per cent to Rs 1,026 crore during the April-September period (Q2) of the current fiscal year from Rs 782 crore in the corresponding period of the preceding year.
Atul Auto subsidiary Atul Greentech has partnered with Jio Platforms Ltd (Jio) to offer electric vehicle solutions to its customers in domestic and global markets, including South America, the European Union and Eastern Africa. The partnership will focus on all three-wheeler platforms of Atul Greentech including MOBILI for passenger vehicles and ENERGIE for cargo vehicles, Atul Auto said.
As many as 38 companies, including Daikin, Voltas and Blue Star have filed applications with proposed investments of Rs 4,121 crore to avail benefits under the production-linked incentive scheme for white goods in the third round, an official said on Monday. The government in July reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights to accommodate more players as several firms expressed interest in the initiative. Among the applicants, 20 are for AC components (Rs 3,679 crore) and 18 for LED Lights (Rs 442 crore).
Lemon Tree Hotels has signed a new property at Dibrugarh in Assam. The 65-room property, which will be managed by Carnation Hotels Pvt Ltd, a wholly-owned subsidiary of the company, is expected to open in FY2027, it said in a regulatory filing. “In Assam, the enchanting land of the red river and blue hills, this new addition will complement our two upcoming properties in the state, further enhancing our commitment to providing exceptional hospitality and experiences in this beautiful region,” Lemon Tree Hotels CEO Managed & Franchise Business Vilas Pawar said.
JSW Renew Energy Thirteen Ltd, a step-down subsidiary of JSW Energy, has signed a 25-year power purchase agreement with state-owned NTPC. The tariff for the 700 MW solar project is Rs 2.59/kilowatt hour, JSW Energy said in an exchange filing. “JSW Renew Energy Thirteen has signed a power purchase agreement (PPA) with NTPC for ISTS/STU-connected solar capacity of 700 MW,” the company said.
The board of Can Fin Homes has approved raising funds through the issuance of Non-convertible Redeemable Debentures (NCDs), either secured or unsecured, on a private placement basis. The funds will be raised in one or more tranches, up to a total limit of ₹4,000 crore, as approved by the members during the Annual General Meeting (AGM) held on August 7.
Investor Siddhartha Yog acquired a 0.29 per cent stake in Trent from Dodona Holdings at an average price of Rs 8,115 per share. The total transaction amounted to ₹846.1 crore.
Results calendar: HDFC Life Insurance Company, HDFC Asset Management Company, PVR Inox, Rallis India, DB Corp, Bank of Maharashtra, KEI Industries, Newgen Software Technologies, Coromandel Agro Products, Darshan Orna, DMR Hydroengineering, GM Polyplast, Gujarat Hotels, Lactose India, Morarka Finance, MRP Agro, Premium Capital Market, RO Jewels, SG Finserve, Sita Enterprises, Stylam Industries, Sybly Industries, Teamo Productions, Transchem, and Universal Arts