Latest News on Corporate Actions

Gurgaon, Haryana, India (NewsVoir) OMC Power is delighted to announce a long-term relationship agreement with the Indian Renewable Energy Dev Agency Ltd. (IREDA) towards building a Rural renewable energy ecosystem. In a welcome move by the IREDA, OMC will be getting economic support for setting up Renewable energy plants to provide sustainable energy in the [...]

New Delhi, May 8 (PTI) The Union home ministry has granted security clearance to Jet Airways that is planning to relaunch commercial flight operations in the next few months, according to an official document. The Jalan-Kalrock Consortium is currently the promoter of Jet Airways. The airline in its old avatar was owned by Naresh Goyal [...]

New Delhi, May 8 (PTI) State-owned SJVN Ltd, which is mulling Rs 1.8 lakh crore investment in next decade, has bagged the 'Most Efficient & Profitable Miniratna of the Year' award. Dalal Street Investment Journal (DSIJ) has conferred the award to SJVN for playing a crucial role in economic growth of the nation, a statement [...]

New Delhi, May 8 (PTI) Pushp Kumar Joshi on Sunday took over as the new chairman and managing director of India's third largest oil refining and fuel marketing company Hindustan Petroleum Corporation Ltd (HPCL). "Prior to this Dr Joshi was Director-HR of the Corporation from August 01, 2012," the company said in a statement. Joshi, [...]

New Delhi, May 8 (PTI) Shriram City Union Finance will focus on personal, gold and small business loans to achieve its 18 per cent growth in AUM in the current fiscal year amid a slowdown in demand for two-wheelers due to shortage of components and other factors, a top company executive said. Noting that the [...]

New Delhi, May 8 (PTI) Serum Institute of India (SII) CEO Adar Poonawalla on Sunday wooed Elon Musk to invest in India to manufacture Tesla electric cars, saying it will be the best investment he would have ever made. Musk, who has made a successful USD 44 billion acquisition bid for Twitter, had in the [...]

Kolkata, May 7 (PTI) Tata Steel Ltd will look to grow organically, and the steel giant is under “no pressure” to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, [...]

Bengaluru, May 7 (PTI) In an effort to allot land in quick time to industrialists who come forward to set up industries, the Karnataka government will acquire over 50,000 acres of land across the state, Large and Medium Industries Minister Dr Murugesh Nirani announced on Saturday after inaugurating the India Manufacturing Show 2022: Curtain Raiser [...]

New Delhi, May 7 (PTI) Food brand aggregator Big Bang Food Tech (BBFT) on Saturday said it has acquired 'Puran Singh Ka Mashoor Vishal Dhaba' for an undisclosed sum. The company plans to open 100 Puran Singh outlets by the end of March next year. The outlets would be in two formats of take away [...]

New Delhi, May 7 (PTI) Italian financial services major Generali on Saturday said it has completed the acquisition from Future Enterprises of 25 per cent stake in Future Generali India Insurance, and its stake in the JV has now gone up to 74 per cent. Generali received the approval from the relevant regulatory and competition [...]

New Delhi, May 6 (PTI) Coromandel International Ltd on Friday said it is set to acquire 45 per cent stake in Baobab Mining and Chemicals Corporation (BMCC) in Africa for about Rs 150 crore and will infuse around Rs 75 crore as debt. In a regulatory filing, the company informed that it is set to [...]

Chennai, Tamil Nadu, India (NewsVoir) Dr. Lakshmi Venu has taken over as the Managing Director of Sundaram-Clayton Limited (SCL), one of India’s leading auto components manufacturer at the board meeting held today. Dr.Venu was the Joint Managing Director of Sundaram-Clayton. Dr. Lakshmi Venu has been leading Sundaram-Clayton from the forefront with aplomb for over a [...]

NEW DELHI, May 6, 2022 /PRNewswire/ -- Azure Power Global Limited (NYSE: AZRE) ("Azure" or "the Company"), a leading independent sustainable energy solutions provider and renewable power producer in India, today announced that Mr. Harsh Shah will be joining as the Chief Executive Officer, effective July 1, 2022. Mr. Shah was previously the Chief Executive [...]

New Delhi, May 6 (PTI) Auto components major Sundaram-Clayton Ltd on Friday announced the elevation of Lakshmi Venu as its Managing Director. Venu, who was the Joint Managing Director, has been leading the company for over a decade now. She has been the lead architect in establishing Sundaram Clayton's global footprint, the company said in [...]

New Delhi, May 6 (PTI) The All India Power Engineers Federation (AIPEF) has urged the central government to compensate states for importing coal in the absence of adequate dry fuel for thermal plants. "AIPEF has demanded that the Centre compensate each and every state that is being forced to import coal in absence of adequate [...]

Chennai, May 6 (PTI) Auto component manufacturer Sundaram-Clayton Ltd has elevated Lakshmi Venu as its Managing Director with immediate effect, the company said on Friday. Prior taking up the new role, Venu was serving the city-based TVS Group firm as its joint managing director. Venu, daughter of TVS Group Chairman-Emeritus, Venu Srinivasan has been leading [...]

New Delhi, May 6 (PTI) Pharma major Lupin Ltd on Friday said it has received approval from the US health regulator to market its generic version of Pregabalin capsules used for the treatment of pain caused by nerve damage due to diabetes or shingles infection.The approval granted by the US Food and Drug Administration (FDA) [...]

New Delhi, May 6 (PTI) Zydus Lifesciences on Friday said its subsidiary Zydus Worldwide DMCC has received tentative approval from the US health regulator to market its generic version of Selexipag tablets, used to treat pulmonary arterial hypertension in adults.The approval by the US Food and Drug Administration (USFDA) is for Selexipag tablets in the [...]

Chennai, Tamil Nadu, India – Business Wire India TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it [...]

New Delhi, May 6 (PTI) Tata Motors on Friday said it has reappointed former SBI Chairman Om Prakash Bhatt as an additional director till March 7, 2026. The company's board, based on the recommendation of the nomination and remuneration committee, has approved appointment of Bhatt as an additional non-executive independent director for the second consecutive [...]

New Delhi, May 6 (PTI) Leading diagnostics platform Redcliffe Lifetech on Friday said it has raised USD 61 million (around Rs 466 crore) in a funding round led by LeapFrog Investments. Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners also participated in the funding round. The investment [...]

Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company's growth expectation. When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people. "We have over 6,000 employees out of which 120 contractors and 80 full-time or 3.5 [...]

New Delhi, May 5 (PTI) Engineering firm ABB India on Thursday said its Chairman Morten Wierod has resigned."Morten Wierod vide letter dated May 5, 2022, has tendered his resignation from the position of Chairman and Non-executive & Non-independent Director of the Company, effective closure of business hours of May 5, 2022," a BSE filing said.The [...]

New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts.After receiving mandatory approvals from the government [...]

New Delhi, May 5 (PTI) IT company Wipro Limited and domestic telecom gear maker HFCL have entered into a partnership to jointly develop 5G product portfolio, mainly the routers required to connect mobile sites with the core network of telecom operators. The companies will collaborate on a portfolio of 5G products for the telecommunications sector, [...]

New Delhi, May 5 (PTI) Alkesh Kumar Sharma has assumed charge as new Secretary for the Ministry of Electronics and Information Technology, an official release said on Thursday.Sharma, an Indian Administrative Services Officer of the 1990 batch from Kerala cadre, has earlier served as additional secretary and secretary in the Cabinet Secretariat.In addition to other [...]

Chennai, Tamil Nadu, India (NewsVoir) TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it the most awarded [...]

New Delhi, May 5 (PTI) TVS Motor Company on Thursday said it has elevated Sudarshan Venu as Managing Director with immediate effect. Venu, 33, has been charting the future of the two-wheeler manufacturer and has played a pivotal role in the company's growth in domestic and key international markets, including Asia, Africa, and more recently [...]

New Delhi, May 5 (PTI) Startup Flipspaces, which is into interior design, has acquired Renomania, a platform for end customers to comprehensively discover and engage with architects, interior designers and brands.The acquisition is a 100 per cent sale of the platform’s assets, database and all technology and related intellectual property (IP), Flipspaces said in a [...]

New Delhi, May 5 (PTI) Airtel Payments Bank has appointed Manish Pandey as its new Chief Information Security Officer. Pandey will head the information and cyber security practice for Airtel Payments Bank and report to Pradeep Rangi, Chief Risk Officer. "We welcome Manish Pandey, our new Chief Information Security Officer, on board," Airtel Payments Bank [...]

New Delhi, May 5 (PTI) Mahindra & Mahindra (M&M) on Thursday said it has tied up with Jammu & Kashmir Bank to offer loans for tractors and farm machinery.Farm Equipment Sector (FES), a part of Mahindra Group, has inked an MoU with the lender in this regard.As part of the partnership, J&K Bank will provide [...]

New Delhi, May 5 (PTI) Vodafone Idea Foundation, the CSR arm of telecom operator VIL, has collaborated with Ericsson India to set up 'robotic labs' in ten schools across the country with a view to providing digital learning skills to underserved students. The tie-up is aimed at improving the students’ education and employment prospects across [...]

New Delhi, May 5 (PTI) Dhampur Sugar Mills Ltd on Thursday said that Ashok Kumar Goel has been designated as its Chairman. "Ashok Kumar Goel, Promoter (Executive) Director of the company has been designated as Chairman of the company with effect from May 4, 2022 consequent upon resignation of Vijay Kumar Goel as Chairman and [...]

New Delhi, May 5 (PTI) Consumer debt relief platform FREED has raised USD 2.8 million in a funding round led by Inflection Point Ventures. The round saw participation from Multiply Ventures, Chandigarh Angels Network, Lead Angels, Hyderabad Angels, The Chennai Angels, and a clutch of high networth individuals, according to a statement. The funds will [...]

New Delhi, May 5 (PTI) Auto components major Sona Comstar on Thursday said it has partnered with US-based start-up C-Motive Technologies to develop electrostatic drive motors for electric vehicle applications. The serial production of the electrostatic drive motors is expected to start in 2026, the company said in a statement. Under the partnership, Sona Comstar [...]

New Delhi, May 4 (PTI) Investment firm Copthall Mauritius Investment Ltd has sold 37 lakh shares of Indiabulls Real Estate Ltd for Rs 31.08 crore through an open market transaction. According to the bulk deal data available with BSE, BofA Securities Europe SA bought 37 lakh shares of the company at an average price of [...]

New Delhi, May 4 (PTI) Internet major Google has appointed former joint secretary at Niti Aayog Archana Gulati as head of public policy in India. A Google spokesperson confirmed the appointment. Messages sent to Gulati elicited no immediate reply. Gulati was looking after digital communications policy matters at the government think tank and took voluntary [...]

New Delhi, May 4 (PTI) Automobile dealers' body FADA on Wednesday said the increase in repo rate will "apply certain amount of brakes" on the industry's growth, especially the two-wheeler segment which is already reeling under a severe slowdown. Home, auto and other loan EMIs are likely to go up after the Reserve Bank of [...]

Kolkata, May 4 (PTI) Tata Steel will achieve its target to double its capacity to produce 40 million tonne steel by 2030 and will install its Electric Arc Furnaces (EAF) in north, south and west India that will use scrap as an environmentally friendly step, a top company official said. Electric Arc Furnaces use recycled [...]

New Delhi, May 4 (PTI) Shriram City Union Finance on Wednesday said it is planning to raise up to Rs 750 crore by issuing bonds on a private placement basis. The banking and securities management committee of the company on Wednesday approved the issue of secured, rated, listed, redeemable, principal-protected and market-linked non-convertible debentures for [...]

New Delhi, May 4 (PTI) The coal ministry will hold a high-level Investors' Meet on Friday in a bid to attract investments from the private sector. Coal Minister Pralhad Joshi will launch the event to be held in Mumbai. "Joshi will be launching a high level Investors’ Meet in Mumbai on 6th May, 2022 focussing [...]

New Delhi, May 4 (PTI) Future Consumer Ltd on Wednesday said its independent director Adhiraj Harish has resigned from the board of the company. "Adhiraj Harish has resigned from the position of an Independent Director from Board of Directors of the Company with effect from May 3, 2022," the Future Group firm said in a [...]

Chennai, May 4 (PTI) US pharmaceutical company Pfizer has set up its global drug development centre at the Indian Institute of Technology-Madras Research Park here, at an outlay of over Rs 150 crore. The centre, which employs 250 scientists and technicians, would develop innovative formulations, small molecules and active pharmaceutical ingredients (APIs). According to company, [...]

Mumbai, Maharashtra, India (NewsVoir) Pernod Ricard India (PRI), a global leader in the wine and spirit industry, today announced the appointment of Richa Singh, as Chief Financial Officer (CFO), Pernod Ricard South Asia and India. Joining the leadership team, Richa Singh will report directly to Thibault Cuny, Managing Director & CEO Pernod Ricard South Asia [...]

Mumbai, May 4 (PTI) Agro-chemicals major UPL on Wednesday said it has acquired a naturally-derived fungicide, OptiCHOS, for its natural plant protection (NPP) business unit. The NPP portfolio houses natural and biologically derived agricultural inputs and technologies, UPL said in a BSE filing. The active ingredients of OptiCHOS were developed from the chitin-rich by-products of [...]

• SatSure acquires farm management software CropTrails • It will help SatSure expand and strengthen its international market reach into its target geographies in Africa, LATAM and SEA BENGALURU, India, May 4, 2022 /PRNewswire/ -- SatSure, a deep tech startup working at the intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS) [...]

New Delhi, May 4 (PTI) Consumer electronics maker Samsung has forayed into the vacuum cleaner segment in India, expanding into the home cleaning solutions business. Samsung has launched a line-up of Jet cordless stick vacuum cleaners that can generate up to 200 watts of suction power and are lightweight and ergonomically designed, said a company [...]

New Delhi, May 4 (PTI) Gland Pharma on Wednesday said it has launched cancer treatment drug Bortezomib for Injection in the US market. The company has launched the product in the US market through its partner which received the approval from the US Food & Drug Administration (USFDA), the drug firm said in a statement. [...]

New Delhi, May 4 (PTI) Mahindra Electric Mobility on Wednesday said it has tied up with the city-based startup Terrago Logistics. Terrago currently has a fleet of 65 Mahindra Treo Zor cargo vehicles deployed with online grocery major Big Basket in three cities and leading logistics major, Porter. In the coming months, Mahindra Electric will [...]

New Delhi, May 4 (PTI) Realty firm Signature Global, which focuses on building affordable housing projects, on Wednesday said it has raised long term capital of Rs 400 crore from HDFC Capital realty fund.The company raised this fund from HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3), a fund managed by HDFC Capital.The funding [...]

New Delhi, May 4 (PTI) Drug major Aurobindo Pharma on Wednesday said its wholly-owned subsidiary has received approval from the US health regulator to market anti-cancer medication Bortezomib for injection.Eugia Pharma Specialties has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market the product, a generic equivalent of Takeda [...]

New Delhi, May 4 (PTI) E-commerce company Amazon expects cumulative exports from its platform in India to reach USD 20 billion by 2025, a senior company official said on Wednesday.In January 2020, the company had set a target to facilitate export worth USD 10 billion by 2025."In January 2020, we had taken a pledge to [...]

New Delhi, May 4 (PTI) Tata Realty and Infrastructure Ltd (TRIL) on Wednesday said it has given on lease over 1.56 lakh square feet of office space in its commercial projects at Gurugram in Haryana to Johnson Controls and PepsiCo."In the next 24 months, the leasing will gross an operating income of approximately Rs 27 [...]

New Delhi, May 4 (PTI) Tata Power Renewable Energy has commissioned a 120 MW solar project in Masenka, Gujarat. Tata Power Renewable Energy Limited (TPREL), a 100 per cent subsidiary of Tata Power, has commissioned the solar project, which will produce 305247 MWh annually for Gujarat Government (GUVNL), a company statement said. In the installation, [...]

New Delhi, May 4 (PTI) Alembic Pharmaceuticals on Wednesday said its wholly-owned arm Aleor Dermaceuticals has received final approval from the US health regulator for its generic Docosanol cream indicated for cold sore/fever blisters on the face or lips.The final approval granted by the US Food & Drug Administration (USFDA) is for the abbreviated new [...]

New Delhi, May 4 (PTI) Batteries and flashlights maker Eveready Industries India Ltd on Wednesday said its shareholders have approved the appointment of Suvamoy Saha as its Managing Director for a period of three years.Saha, erswhile Joint Managing Director of the company, was asked to assume the responsibilities as interim Managing Director after the resignations [...]

New Delhi, May 4 (PTI) Leading online travel services firm MakeMyTrip on Wednesday said it has witnessed a nearly 150 per cent increase in bookings for super-luxury and premium hotels during the pandemic compared to the pre-pandemic period, as more Indian travellers seek elite travel experiences.One in every three Indian travellers searched and booked a [...]

New Delhi, May 4 (PTI) Eris Lifesciences on Wednesday said it has acquired Mumbai-based dermatology-focused domestic formulations company Oaknet Healthcare for Rs 650 crore. The acquisition will be completed by way of a share purchase agreement and accordingly Oaknet will become a wholly-owned subsidiary of Eris, the drug firm said in a statement. The deal [...]

New Delhi, May 3 (PTI) Tata Steel will complete the acquisition of Neelachal Ispat Nigam Limited (NINL) by the end of the current quarter, its CEO and MD T V Narendran said on Tuesday. The acquisition of NINL is critical for Tata Steel to build a dedicated long products complex. On January 31, Tata Steel [...]

New Delhi, May 2 (PTI) Leading food company Britannia Industries on Monday said it has judiciously increased prices in the January-March quarter on account of cost inflation and would further take such calibrated price hikes to retain its profitability. The Wadia group firm has "continued to take price increases judiciously and remained aggressive on the [...]

New Delhi, May 2 (PTI) Enterprise communications service provider Route Mobile will acquire the artificial intelligence-based blockchain and DLT platform of Teledgers Technology for over Rs 130 crore, according to a regulatory filing. Under the agreement, Route Mobile subsidiary Route Ledger will pay Rs 4.9 crore as advance to Teledgers within 30 business days of [...]

New Delhi, May 2 (PTI) After Fino Payments Bank shareholders rejected a proposal to reappoint two independent directors, the parent firm Fino Paytech on Monday said the changes in the board composition are on account of a "policy decision on the reappointment". Fino Payments Bank on April 30 had said that its shareholders rejected the [...]