Bharat Dynamics has signed contract with IAF for supply of Surface to Air missiles order worth Rs 290.90 crore.
Zydus Lifesciences Ltd has received the EIR report from the USFDA for the inspection conducted at the formulation manufacturing facility named ‘SEZ 2’ located at Pharmez, Ahmedabad from July 3 to 7. This was a Pre-Approval Inspection (PAI) and had concluded with NIL observations.
Lemon Tree Hotels Limited has launched Lemon Tree Hotel, Haridwar. This is the eighth property of the group in Uttarakhand. The property is opening in two phases. Of the 44 vibrant rooms and suites, 24 are opening in the first phase and provide close-to-home accommodation options with contemporary interiors, have a stylish, elegant and comfortable ambience complemented by warm and friendly service that goes the extra mile. The suites feature a separate living area making them perfect for transient and long-stay guests alike.
Dr. Madhu Sasidhar has been appointed as Chief Strategy Officer of Apollo Hospitals Enterprise Ltd from October 1. He would be one of the Senior Management Personnel of the Company. Dr Madhu Sasidhar is a practising physician with board certifications in Internal Medicine, Pulmonary and Critical Care Medicine. He completed his medical education at JIPMER, Pondicherry. Following residency in Internal Medicine at St. Luke’s-Roosevelt Hospital in New York City he completed fellowships in Pulmonary and Critical Care Medicine at Yale University, New Haven, USA. He received his Global Executive Masters in Business Administration from INSEAD, Fontainebleau, France.
Tata Motors, India’s largest commercial vehicle manufacturer, has announced that it will increase prices of its vehicles, effective 1 October 2023, up to 3 per cent. The price increase is to offset the residual impact of the past input costs, and will be applicable across the entire range of commercial vehicles.
The Reserve Bank of India has approved the re-appointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of HDFC Bank for a period of three years till October 26, 2026.
Reliance Industries’ Jio has announced the launch of Jio AirFiber services, its integrated end-to-end solution for home entertainment, smart home services and high-speed broadband, across 8 metro cities Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune.
Kajaria Ceramics has said that a Joint Venture Agreement is executed between Kajaria International DMCC, U.A.E., a wholly-owned subsidiary of the Company and UK Parts (Holdings) Ltd, UK. The purpose of this Agreement is to enter into a joint venture for doing trading & marketing business of Glazed Vitrified Tiles, Polished Vitrified Tiles and other allied products in UK. through a newly incorporated company namely KAJARIA-UKP LTD at United Kingdom, as per the laws of England & Wales, by way of acquiring its shares in the equal ratio, i.e. 50:50, on joint venture basis or by way of loan, as the case may be.
LJIN Electronics (India) Private Limited, a material subsidiary of Amber Enterprises India Limited, has entered into an agreement with Nexxbase Marketing Private Limited - Noise Brand, to form a 50:50 joint venture company. Nexxbase is a Gurgaon based company engaged in the business of selling, distributing, marketing and advertising electronic products including smart watches, earphones, earbuds, headphones etc. The Joint venture will carry on the business of manufacturing, assembling and designing of wearables and other smart electronics products.
LTIMindtree, a global technology consulting and digital solutions company, announces the launch of Testing as a Service for Oracle SaaS. Following the success of RELY - a comprehensive suite of assurance and compliance services platform for enterprise applications, this new offering sets a new standard for Oracle SaaS testing.
The board of Biocon Ltd has approved the appointment of Peter Bains as the Group CEO, with effect from September 18. He will be reporting directly to Biocon Group Chairperson, Ms Kiran Mazumdar-Shaw. Prior thereto Bains has stepped down from his role on the Biocon Board as an Independent Director with immediate effect, to assume this strategic executive responsibility.
The Board of TARC Limited has approved the issue of 1910 secured, unlisted, redeemable, Non-Convertible Debentures bearing face value of Rs. 10 lakh each on private placement basis. The Size of the issue is Rs. 191 crore.
Welspun Corp Limited has entered into an agreement on September 18 with a reputed party for liquidation of a part of specified assets lying at Dahej Shipyard of the Company for a consideration of approx. Rs. 80 crore. These assets are being sold on an “as is” basis and all the material would be lifted within this Financial Year.
Varroc Engineering Limited has entered into an arrangement with its Wholly Owned Subsidiary viz. Varroc Polymers Limited for sale of identified Plant & Machineries/equipment located at Company’s Plant/Facility, Pondur, Sriperumbudur, Tamil Nadu to VPL’s manufacturing facility. Further, VPL is also in process of leasing the said identified Plant and Machineries/equipment to VEL’ Chennai Facility and the said transaction is expected to be concluded on or before the end of September, 2023. The said identified transactions will be completed on arm’s length basis and prevailing market rates on mutually agreed terms and conditions between the parties. The Audit Committee and & Board of Directors of respective companies have duly approved the above said transactions.
Valiant Organics Limited, which had earlier announced about the proposed initial public offering of its material subsidiary Valiant Laboratories Limited (VLL) by way of fresh issue of up to 1.089 crore shares for listing on BSE and National Stock Exchange of India Limited, said VLL has filed Red Herring Prospectus (RHP) dated September 18. The Anchor Investor Bid/Issue period if any, shall be on September 26 and the Issue will open for public September 27 and close on October 3.
The Board of directors of Sasken Technologies Limited has considered and approved a proposal, subject to completion of due diligence and regulatory approvals, if any for making a strategic investment not exceeding Rs 50 crore either directly or by entering into a joint venture along with one of the companies having global presence, specialising in Advanced AI/5G/Power driven IP licensing, custom ASIC design and foundry service business. The investment would be made to strengthen Sasken Group’s IP repertoire and engineering capabilities. We will in due course file the requisite disclosures once they are firmed up.
The board of directors of Captain Pipes has considered and approved a plan for setting up a greenfield plant near Ahmedabad at a total investment of Rs 25 crore. The proposed plant will have capacity of 20,000 MT which will double total production capacity from current level. The commercial production from the plant is expected to start before the end of 2024. The company has identified the land for setting up this plant and acquisition of the land will be concluded soon. Company will use the fund from internal accruals and bank financing for investment in the new plant.
Prakash Industries has said that subsequent to the in-principle Stage-I approval under the Forest (Conservation) Act, 1980, the Ministry of Environment, Forest and Climate Change, Government of India has today granted Environmental Clearance (EC) for its Bhaskarpara Commercial Coal Mine in Chhattisgarh. The development of the said mine is fast in progress and the Mining lease is likely to be executed by the next quarter.
WPIL has received a contract for supply of on board range of centrifugal pumps and spares for different classes of ships from Ministry of Defense (Navy) for Rs 14.3 crore which is to be executed over a period of 24 months. This contract for on board centrifugal pumps will greatly strengthen WPIL product offering to the Indian Navy which is undergoing a major fleet expansion program.
Indo Amines Limited has acquired an industrial Land situated at Plot No. B-27 & B-28, at Mahad Industrial area of M.I.D.C. Raigad, pursuant to an Memorandum of Understanding signed between the Company and Emark Energizer’s Private Limited The said acquisition of land is for further expansion of its Business operations and Development of the Company.
NBCC has recently received work from Khadi & Village Industries Commission for planning, designing and execution of upcoming works such as Construction of office building(s), Residential campus, Redevelopment, Repair & Renovation of KVIC Properties Pan India etc. The order value is Rs. 150 crore.
JK Lakshmi Cement Limited proposes to source 40 MWAC solar power for its Durg Unit under the Captive Power Plant Model through a Special Purpose Vehicle (SPV) i.e Amplus Helios Pvt. Ltd.
The Board of Directors of B & A Limited has decided to enter a MOU with Dhaneswari Wood Products Limited to acquire its Moheema Tea Estate.
B.L. Kashyap and Sons Limited one of the leading Civil Engineering and Construction Company has secured new order aggregating to ₹167 crore approx. The order is from Delhi International Airport Limited for civil and structure works for SAM project at Gateway District, Aerocity, IGI Airport, New Delhi.
DCM Shriram has informed the exchanges that Fenesta, an arm of the company that is into in the business of windows and doors, has entered into a strategic technical collaboration with Inventure Metal Products Industries LLC, a renowned player providing complete solution for façade building in the construction industry in the United Arab Emirates (UAE). The agreement marks a pivotal moment in Fenesta’s pursuit of excellence in the Facade sector. Inventure brings to the table a rich legacy of 18 years in the Facades business, boasting a remarkable portfolio of over 2000 successfully completed projects.
The board of Directors Sundaram Multi Pap has discusses regarding the sale of its non-core asset, bearing Industrial land (1,09,000 sq mt) situated at Sihora, Nagpur, Maharashtra, as per the Letter of Interest (LOI) shared by the interested companies which expressed their interest for purchasing the aforesaid Industrial Land. On realisation of the aforesaid non-core asset the company plans to carry out certain business tasks which will help the company to improve its cash flows.
Mawana Sugars has informed the exchanges that SEBI has issued Show Cause Notice to Anil Arora, Ex. CFO, Bharat Bhushan Mehta, Ex. CFO, (both for violations of SEBI PIT Regulations) and Ashok Kumar Shukla, Company Secretary (Code of Practice and Procedures for Fair Disclosure of Unpublished Price Sensitive Information). The notice further states that if the allegations are established, then Noticees are liable for monetary penalty under section 15G and Section 15HB of SEBI Act, 1992. In a separate notice, the company said due to non-availability of molasses release permits by Uttar Pradesh Excise Department to distilleries operating in Uttar Pradesh, the Molasses from our sugar units cannot be transferred for continuing the operations of Company Distillery at Nanglamal Sugar Complex. Accordingly, the Company has therefore taken a scheduled stoppage to undertake the routine maintenance work at distillery from September 18.