Axis Bank: The Reserve Bank of India has approved the re-designation of Rajiv Anand as the Deputy Managing Director of Axis Bank Ltd from the date of its communication and co-terminus with his approved term of appointment till August 3, 2022 (both days inclusive).

Shyam Metalics and Energy Ltd has announced another strategic capacity expansion as outlined in the capex plans for FY 2021-22. The company has received "Consent to Operate" from State Pollution Control Board, Odisha, to increase captive power generation at its Sambalpur unit. Following the clearances, the capacity at the unit will increase from 118 MW to 158 MW. Across its units at Sambalpur, Jamuria & Mangalpur, the aggregate capacity will grow from 227 MW to 267 MW representing a 17.6 per cent increase. The incremental capacity is now operational.

Grasim Industries has success fully commissioned the projects at: Rehla - Caustic Expansion Project; and Balabhadrapuram - Commencement of Caustic production. The ongoing expansion project at Rehla has been completed and the company has successfully commissioned the second phase of the expansion project at Rehla (80 tpd Caustic Soda Lye), taking overall caustic soda lye capacity of Rehla Unit to 550 tpd.

RBL Bank has announced the signing of the agreement with Bajaj Finance Ltd for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026.

Gokaldas Exports : ICRA Ltd, after due consideration, has upgraded the long-term rating for the Line of Credit (LOC) to [ICRA] A- (positive) from [ICRA] BBB (stable). The outlook has been revised to Positive from Stable. Similarly, the Rating Committee of ICRA Limited has upgraded the short-term rating for the captioned LOC to [ICRA] A2+ from [ICRA]A3+.

The Board of Som Distilleries and Breweries Limited has considered and approved the terms of the Rights Issue for up to 49,99,058 fully paid-up Equity Shares of ₹5/- each. The rights issue ratio is one rights equity share for every 13 fully paid-up equity shares held on the record date January 3, 2022. The issue price is ₹35 each and the issue size of about ₹17.50 crore.

Somany Ceramics , an internationally acclaimed organisation, specialising in ceramics and allied products segments, is known to be a leader in design and innovation. Being a pioneer in the industry and setting high standard for everyone to follow, the company is expanding its footprints in Nepal with the launch of Somany Grande Outlet- Bajra & Bajracharya Enterprises Pvt Ltd.

The board of the Great Eastern Shipping Company Ltd has approved a proposal for the company to buyback its own fully paid-up equity shares of a face value of ₹10 each, for an amount not exceeding ₹ 225 crore for a price not exceeding ₹333 from the shareholders of the Company (other than the Promoters and shareholders belonging to Promoters Group of the Company) payable in cash, through open market route through the stock exchange mechanism.

Maharashtra Seamless Ltd has successfully bagged ₹150.70 crore orders from PSU companies for supply of ERW and seamless pipes.

Mahindra Logistics Ltd , one of India's largest ThirdParty Logistics solution providers, has announced its acquisition of Meru Mobility Tech Private Limited, V-Link Fleet Solutions Private Limited and V-Link Automotive Services Private Limited from Meru Travel Solutions Private Limited (MTSPL) and MTSPL from Mahindra & Mahindra Limited (M&M). The acquisition is a strategic move to consolidate and expand MLL's business in the enterprise mobility space.

Paras Defence and Space Technologies Ltd has been chosen by the DRDO as one of the Companies for handing over the technology of Border Surveillance Systems as developed by Instruments Research & Development Establishment and Defence Research and Development Organization (DRDO). This technology has been transferred by a licensing agreement for transfer of technology for border surveillance systems entered between the company, IRDE & DRDO. The system shall provide all weather surveillance for day and night monitoring of the border areas, it shall consist of Radar, EO sensors etc., mounted on Pan Tilt platforms. With this ToT Paras shall be serving the requirement of the Armed Forces of the Nation.

Swan Energy has executed a share subscription cum shareholders agreement with Hazel Infra Limited to subscribe to its 1,42,305 Equity Shares of ₹10 each at par. By virtue of the above agreement, M/s HIL will become subsidiary of the company.

Meghmani Organics has completed an acquisition of Kilburn Chemicals Limited. MOL paid ₹132 crore as per the National Company Law Tribunal (NCLT) approved resolution plan. Thus, the company has diversified its pigment division's product offering with Kilburn Chemicals acquisition, fast-tracking its foray into Titanium Dioxide (TiO2). The acquisition has been funded from MOL's internal accruals. As a result, MOL's Titanium Dioxide (TiO2) project will be EPS accretive. The plant is located at Dahej, Gujarat and its existing Titanium Dioxide (TiO.) manufacturing capacity is pegged at 16,500 tons per annum (tpa). MOL expects to commence the commercial production of Titanium Dioxide (TiO.) from Q2 FY23, thereby adding ₹300-350 crore to the revenues on a full financial year basis.

IIFL Wealth Management has approved the allotment of 1,200 rated secured redeemable principal protected market linked non-convertible debentures, aggregating to ₹120 crore, on a private placement basis.

Lippi Systems has entered into an agreement for the sale and transfer of machineries with Image Gravures, a Partnership Firm, for ₹9.45 crore.

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