The board of AU Small Finance Bank has approved a merger with IPO-bound Fincare Small Finance Bank. “It is hereby informed that the board of directors of AU Small Finance Bank Limited, at its meeting held today on October 29, 2023 has inter alia, considered and approved the scheme of amalgamation for the amalgamation of Fincare Small Finance Bank Limited into and with AU Small Finance Bank, latter said in a late night announcement to the exchanges.
IRB Infrastructure Trust, associate of IRB Infrastructure Developers, (the Trust) has received Letter of Award from National Highways Authority of India (NHAI) for the project of Tolling, Operation, Maintenance and Transfer of four lane Lalitpur-Sagar-Lakhnadon section from km 99.005 to km 415.089 of NH-44 in t Uttar Pradesh and Madhya Pradesh (TOT Bundle 12). The Trust to pay upfront Concession Fee of Rs. 4,428 crore to linked Concession Period of 20 years.
Bharti Airtel has partnered with Microsoft to offer Indian organisations calling services over Microsoft Teams through an integration with Airtel IQ. In a separate notification to the bourses, the telecom major said that the Department of Telecommunications in Mumbai has imposed a penalty of Rs 1,63,000 for an alleged violation of subscriber verification norms.
The Board of Directors UltraTech Cement approved capex towards increasing capacity, with a mix of brown field and green field expansion. The proposed capacity addition would be 21.9 mtpa – by way of integrated units; grinding units and bulk terminals across the country for investment worth Rs 13,000 crore that would be met with internal accruals. The expansion is planned from FY26 in a phased manner.
SJVN Green Energy Ltd, a wholly owned subsidiary of SJVN, has inked an MoU with Ocean Sun, Norway, for collaboration in the field of new technologies in Green & Clean Energy Sector. As per the MoU, it has been agreed that SGEL shall develop & finance a Pilot Membrane based Floating Solar Project (about 2 MW) at a suitable Location anywhere in India. For this project, patented technological support shall be provided by Ocean Sun. This MoU shall pave way for technology transfer and cooperation amongst the two Countries.
Robert Bosch GmbH is realigning its Building Technologies division. In the future, the division is to focus on its regional integrator business, with solutions and services for building security, energy efficiency, and building automation. Bosch plans to sell most of the Building Technologies division’s product business. This includes the Video, Access and Intrusion, and Communication business units.
The above change is likely to affect the business of Bosch Limited, however, details of the impact is yet to be ascertained, Bosch said in a notice to the stock exchanges.
RCF said that the Ministry of Chemicals and Fertilizers has announced revised subsidy rates under Nutrient based Subsidy (NBS) scheme applicable from October 1. There has been reduction in the rates of the subsidy ranging from 30 per cent to 85 per cent depending upon the NPK fertilizer grades. Accordingly, under extant NBS Policy, the Company expects an impact on unsold inventory including stocks lying with wholesalers and retailers yet to be sold to farmers and confirmed through Point of Sale (PoS), as on September 30, 2023. The estimated impact on account of the same is around Rs.374 crore, it said.
Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a Power Delivery Agreement (PDA) with Mukand Limited, a Bajaj Group company and a leading manufacturer of specialty steel long products and heavy machinery in India, for a 43.75 MW AC Group Captive Solar project. Located at Jamkhed in Maharashtra, the installation will generate 99.82 MUs annually and is expected to offset about 54687 CO2 emissions per year.
AstraZeneca Pharma Ltd has received an order from the Transfer Pricing Officer being issued under Section 92CA(3) of Income Tax Act, 1961 for the assessment year 2021-22, wherein an adjustment on the legacy issues have been proposed. The estimated tax impact of the adjustments proposed is Rs. 9.17 crore (approx.). The said amount does not involve any interest or penal consequences. The Company will suitably challenge the order in the due course, it said in a notice to the stock exchanges.
Nilendu Narayan Chakraborty has tendered his resignation as Independent Director of the Brightcom Group, citing health issues and higher board responsibilities, following the exits of key operating personnel. Chakraborty, who was appointed in December 2021, said the recent actions by statutory authorities against the company and key executives had resulted in an operationally challenging situation. The exits of key operating personnel had led to a significant shift in the responsibilities being placed upon the Board, he said.
HFCL said that in line with the company’‘s strategy to increase revenue from the export markets, HFCL B.V., a wholly owned subsidiary of HFCL Limited in the Netherlands, has established a wholly owned subsidiary HFCL Canada Inc. in Canada. In a separate notice, HFCL’s said its new 1728-high fibre count IBR cable offering will allow telcos and enterprises to accelerate installation of 5G network infrastructure, expand FTTH capabilities and address the rising demand for high-capacity networks particularly from data centres. HFCL is amongst the few companies in India and worldwide that has successfully developed this industry leading product.
The United States Food and Drug Administration (USFDA) has completed a routine cGMP (good manufacturing practice) inspection at Dr Reddy’s Laboratories formulations manufacturing facility (FTO-3) in Bachupally, Hyderabad. The inspection was conducted on October 19 and 27, 2023. The USFDA has issued a Form 483 with 10 observations.
Sharad Kumar Gupta has resigned from the position of Group Head and Vice President - Corporate Communications of Escorts Kubota Limited. The resignation was accepted and as per the terms, his last working day came out to October 29, 2023.
Trident said that it has also successfully commissioned the remaining capacity of 1.06 MW Solar Power Project. The total capacity of Roof Top Solar Power Project will be 10.56 MW.
The power generated from this Solar Power Project would be consumed for manufacturing facilities located at Budhni, Madhya Pradesh, resulting in considerable reduction of carbon footprint for the company.
Panacea Biotec has launched Paclitaxel Protein-Bound Particles for Injectable Suspension, a generic version of Abraxane in the Canadian market Paclitaxel Protein-Bound Particles for Injectable Suspension is indicated for the treatment of metastatic breast cancer, non-small cell lung cancer and adenocarcinoma of the pancreas
Dhruv Consultancy Services Limited along with G-Eng Advisory Services Private Limited and in association with Agnitio infrastructure Projects Private Limited has received the Letter of Award for providing Consultancy Services for Authority Engineer Services for Development of Six Lane greenfield Ring Road in Uttar Pradesh. The contract price for the said Project will be Rs 11.15 crore excluding GST. The Contract period will be of 90 months.
Jindal Drilling and Industries said that Rig Virtue I has commenced operations under the charter hire contract awarded by Oil and Natural Gas Corporation at an effective day rate (EDR) of $77,963.78. The contract is awarded to the company for three years.
Speciality Restaurants has received a demand notice in relation to payment of shortfall tax from the Office of the Commissioner, Kolkata South CGST & CX Commissionerate. The said demand notice alleged a tax demand of approximately Rs 3.75 crore.
Results calendar: Acrow India, Adani Green Energy, Ador Multi Products, Andhra Paper, Anup, APL Apollo Tubes, Bansal Roofings, Bharat Bijlee, Blue Star, Castrol India, CG Vak, DLF, DCX India, DCM Shirram, Divya Shakti, Emkay Global, Enkei Wheels, Filter Textiles, Fine Organics, GG Engineering, GMR Airports Infrastructure, IFB Industries, J Kumar Infraprojects, Jagran, Jyoti Resins, Kalyani Steels, KPIT Technologies, LGB Brothers, Mahindra EPC Irrigation, Mangalore Chemicals Fertilizers, Marico, Mitsu Chem Plant, Modi Naturals, Moldtek, Nippon AMC, Petronet LNG, P&G Ramco Systems, Spandana Sphoorty Financial, Speciality Restaurants, Sterling tools, Supreme Industries, TVS Holdings, TVS Motor, Tube Investments of India, UPL, Vaibhav Global, Vista Labs and Zenotech Pharma.