The board of directors of Central Bank of India has approved the raising of capital aggregating upto ₹2,500 crore during FY24 through Follow-on Public offer (FPO)/RIghts issue/ Qualified Institutional Placement (QIP)/Preferential issue or any other mode or combination thereof and /or through the issue of BASEL III compliant AT1/Tier 11 Bonds or such other securities as may be permitted under the applicable laws subject to market conditions and necessary regulatory approvals.

The Board of Directors of Axis Bank has approved the appointment of Subrat Mohanty as a Whole-time Director, designated as ‘Executive Director’ of the bank, with effect from May 1. Mohanty will be Executive Director for three years and is subject to the approval of the shareholders of the bank and RBI.

Biocon Biologics, a subsidiary of Biocon, said its integrated, multi-product, monoclonal antibodies (mAbs) Drug Substance manufacturing facility (B3) at Biocon Park in Bengaluru, has received a Certificate of GMP Compliance for an additional product, biosimilar Bevacizumab, from the representative European inspection authority, Health Products Regulatory Authority (HPRA), Ireland. Last year, the B3 facility received the EU GMP Certification for manufacturing biosimilars.

Blue Star Ltd is planning to issue its first-ever bonus shares. It is one of the agenda items at the board meeting scheduled for Thursday. The company has never issued bonus shares before though it has been a consistent dividend payer and has an unbroken record since 2006. The company has ample reserves to issue bonus shares and pay out dividends.

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Bharti Enterprises and Brookfield Asset Management, on May 1, announced the closure of a joint venture agreement for a 3.3 million square feet portfolio of commercial properties in the Delhi-NCR region and Punjab. A Brookfield-managed real estate fund will now own a 51 per cent controlling stake in the joint venture, while Bharti Enterprises would continue to hold a 49 per cent stake. The enterprise value of the transaction is ₹5,000 crore, the two companies said in a statement.

Patanjali Foods Limited (Formerly known as Ruchi Soya Industries Limited) has signed a non-binding and non-enforceable Memorandum of Understanding (MoU) with the Government of Telangana for the establishment of a food processing unit at Uppalancha village in Nalgonda district with capital investment of ₹1,050 crore.

Gujarat Containers Ltd has set an expansion project at GIDC, Dahej, for a projected capacity of manufacturing of 75,000 barrels annually, at a total outlay of ₹18 crore, which is being funded out of Internal Accruals. The project is likely to start its trial production by June and to commence its commercial operations by July.

Prince Pipes and Fittings, which has been in the process of migrating to a global ERP system from a legacy system since April 3, said that the migration issues have been majorly resolved and normalcy has now been maintained across functions. Prince Pipes and Fittings Limited is committed to execution of its business to scale up as per plan.

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The board of IDBI Bank has granted approval for the divestment of an additional stake of 0.01 per cent of the paid-up share capital of National Securities Depository Ltd (NSDL). Thereby, revising the total divestment of the Bank’s stake up to 11.11 per cent of NSDL’s paid-up share capital.

Mercury EV-Tech Limited (formerly known as Mercury Metals Limited) is engaged in developing innovative and advanced electric mobility solutions in India. Powermetz Energy Private Limited, a subsidiary of Mercury EV-Tech Limited, received an open order worth ₹110 crore for supply of E2W batteries to one of the leading 2W EV manufacturers of India.

The Board of Kranti Industries has approved the proposal of a merger between Kranti Industries Limited and its wholly-owned subsidiary company i.e. Wonder Precision Private Limited.

SEBI has imposed a penalty of ₹10 lakh on Angel One (formerly Angel Broking Limited) for failing to comply with several operational regulations and circulars in its capacity as a stockbroker and a depository participant.

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PNB Housing Finance promoted by Punjab National Bank (PNB) has raised ₹2,494 crore from the rights issue to fund business growth. The issue was closed on April 27, PNB Housing Finance said in a statement. The company intends to utilise the net proceeds from the issue towards augmenting its capital base.

Results Calendar: Ambuja Cements, Astec Lifesciences, Adani Total Gas, Birla Cable, BMW Industries, Cigniti Tech, Control Print, DCM Shriram, Fino Payments Bank, Gallops Enterprises, Hilton, Home First, Jay Synthetics, Jet Infra, Jindal Hotels, KEI Industries, Ludlow Jute, Moldtek, Natural Biocon, New Gen Software, NK Industries, Punjab & Sind Bank, Sasken, Spandana Sphoorty, Tata Steel, UCO Bank, Urja Global, Varun Beverages and Yasho Industries. 

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