Latest News on Corporate Actions

New Delhi, Mar 7 (PTI) CAMS, which acts as a registrar and transfer agent for mutual funds, on Monday said it has acquired majority stake in Fintuple Technologies, a fintech platform for alternative investment funds (AIFs) and portfolio managers. With the addition of Fintuple's portfolio of offerings, CAMS is geared towards further strengthening its value proposition [...]

New Delhi, Mar 7 (PTI) Co-living operator Curated Living Solutions, which is part of realty firm DivyaSree group, plans to set up a USD 200-million fund to develop rented homes for students, industrial workers and working professionals across major cities as part of its expansion plan. The company currently has 7,500 beds operational at its [...]

New Delhi, Mar 7 (PTI) JSW Energy on Monday announced signing a power purchase agreement (PPA) with Haryana Power Purchase Centre (HPPC) for the supply of 240-megawatt hydro power. The agreement is valid for 35 years (with further extension at mutually agreed terms), and signed at a levelised ceiling tariff of Rs 4.50 per kWh [...]

New Delhi, Mar 6 (PTI) The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level [...]

New Delhi, Mar 5 (PTI) Financial creditors of HDIL will meet on March 9-10 to discuss bids for acquiring the crisis-hit realty firm through insolvency proceedings. In a regulatory filing on Saturday, HDIL's Resolution Professional Abhay N Manudhane informed that the "Twenty-Third meeting of Committee of Creditors will be held on 9th March 2022 and [...]

New Delhi, Mar 5 (PTI) Hatsun Agro Product Ltd on Saturday said its board will meet on March 9 to consider a proposal to sell assets of the company's ready-to-eat business. In a regulatory filing, the company said its board of directors will be held on March 9 to consider and approve the proposal for [...]

New Delhi, Mar 5 (PTI) Stock exchange BSE on Saturday announced its collaboration with the MSME Trade and Investment Promotion Bureau (M-TIPB), Government of Tamil Nadu, for promoting awareness among micro, small and medium enterprises (MSMEs) of the state about the benefits of listing. Through this association, M-TIPB will provide support in mobilising the SME [...]

New Delhi, Mar 5 (PTI) Kolkata-based FMCG major Emami Ltd on Saturday said it has acquired 19 per cent equity stake in direct-to-consumer (D2C) nutrition firm Tru Native F&B Pvt Ltd. Tru Native F&B markets nutrition products under the brand TruNativ, targetted at health and fitness enthusiasts. Emami did not reveal financial details of the [...]

New Delhi, Mar 4 (PTI) Oil-to-telecom conglomerate Reliance Industries on Friday announced the opening of India's largest convention centre at Jio World Centre in Mumbai. The convention centre has three exhibition halls spanning over an area of more than 1.61 lakh square feet and two convention halls of 1.07 lakh square feet. The convention centre [...]

Mumbai, Mar 4 (PTI) Skye Air Mobility has started its 10-day trial of deliveries through drones in Noida, Greater Noida and Meerut for diagnostic sample collection as part of its partnership with Redcliffe Labs. On the first day of the trials at Noida, six flights were operated for sample collection, the drone delivery services provider [...]

New Delhi, Mar 4 (PTI) Poonawalla Fincorp Limited on Friday said its CEO Vijay Deshwal has stepped down to take up another role in Cyrus Poonawalla Group. "Vijay Deshwal, Chief Executive Officer (CEO) of the company has decided to take up the strategic role within the Cyrus Poonawalla Group where he will spearhead emerging investment [...]

New Delhi, Mar 4 (PTI) Mortgage lender PNB Housing Finance's board would take a call on raising capital, including through rights issue, next week after a failed attempt to garner Rs 4,000 crore by selling stake to Carlyle Group last year. A meeting of the Board of Directors of PNB Housing Finance Limited is scheduled [...]

New Delhi, Mar 4 (PTI) State-owned Canara Bank on Friday said it has raised Rs 1,000 crore by issuing Basel-III compliant additional tier I bonds. The bonds carry coupon rate of 8.07 per cent per annum. The issue received overwhelming response from investors, with bids for more than Rs 3,133 crore against a base issue [...]

Mumbai, Mar 4 (PTI) Agri-platform lending platform Ninjacart on Friday said it has launched a USD 25-million agri seed fund to support emerging and new-age start-ups in the agriculture sector. To boost tech innovation and accelerate disruption, Ninjacart will make seed investments in start-ups, entrepreneurs and tech innovators who present sustainable and tech-enabled solutions, the [...]

New Delhi, Mar 4 (PTI) Smart Power India (SPI) on Friday announced partnering with Adani Solar to encourage solar energy usage in rural areas of Uttar Pradesh, Bihar, Jharkhand and Odisha. While SPI is a subsidiary of the US-based The Rockefeller Foundation, Adani Solar is the solar photovoltaic manufacturing arm of Adani Group. In a [...]

New Delhi, Mar 4 (PTI) Leading stock exchange NSE on Friday said it has collaborated with the Telangana government to encourage and support the MSMEs (micro, small & medium enterprises) of the state for listing. As part of the pact, NSE with the support of the Telangana government will conduct awareness drive through seminars, camps, [...]

New Delhi, Mar 4 (PTI) Digital payments firm Junio has raised Rs 45 crore in a pre-series A funding round led by the UAE-based firm NB Ventures, the start-up said on Friday. The Rajiv Dadlani Group also participated in the funding round, the city-based company said, adding that it intends to utilise the freshly raised [...]

New Delhi, Mar 4 (PTI) Mahindra & Mahindra Ltd on Friday said it has partnered with CSC Grameen eStore, a government of India initiative, to deepen connections with over 7 lakh villages in India. The partnership will harness CSC Grameen's digital platform to facilitate Mahindra vehicle enquiries and real-time online lead transfer to M&M from [...]

New Delhi, Mar 4 (PTI) Parle Agro on Friday said it has signed actor Ram Charan as a brand ambassador for its mango juice brand Frooti. Charan and Alia Bhatt, who is already a brand ambassador, will become the face for Frooti. The company is looking at an "action packed" summer of 2022, two years [...]

Thiruvananthapuram, Mar 4 (PTI): Technopark-based Toonz Media Group has announced a partnership with leading American production and distribution company Hearst Media Production Group to produce new animated productions. Hearst Media Production Group, a business unit of Hearst Television, is a producer and distributor of television programming with more than 30 series and hundreds of hours [...]

New Delhi, Mar 4 (PTI) Leading stock exchange NSE, which is facing allegations of governance lapses, has started the hunt for a new managing director and chief executive officer as the five-year tenure of incumbent chief Vikram Limaye is ending in July.The exchange has invited applications from candidates having IPO (initial public offering) experience for the [...]

Mumbai, Mar 4 (PTI) Private carrier Go First on Friday said it has operated first evacuation flight to New Delhi from Budapest in Hungary to bring back 177 Indian evacuees from war-hit Ukraine. The city-based airline also said it will operate two flights every till March 10 as part of the Operation Ganga mission. The [...]

New Delhi, Mar 3 (PTI) Online B2B platform Indiamart on Thursday said it has invested about Rs 17 crore in software-as-a-service (SaaS) firm Zimyo Consulting Private Limited.   Indiamart founder and CEO Dinesh Agarwal said COVID-19 has accelerated the adoption of SaaS-based HR management solutions by new age as well as traditional businesses. "Apart from [...]

New Delhi, Mar 3 (PTI) Leading stock exchange BSE on Thursday said it has collaborated with Cotton Guru Maha FPO Federation that will enable the bourse to reach out to a large stakeholder group in the cotton value chain.Cotton Guru Maha FPO Federation is a market-facing company, which is responsible for value-addition and marketing of [...]

New Delhi, Mar 3 (PTI) The Ministry of Defence (MoD) on Thursday said it has given in-principle approval for the design and development of nine defence equipment by the Indian industry. Out of the total nine projects, four have been offered in 'Make-I category' under which the Centre provides 90 per cent funding in a [...]

As part of the collaboration, Pearson and Apollo MedSkills will co-develop skilling programmes and training solutions to enhance access to quality healthcare education March 03 2022, New Delhi: Pearson, the world’s leading learning company today announced the partnership with Apollo MedSkills, the educational arm of Apollo Hospitals the biggest private integrated healthcare provider in India [...]

New Delhi, Mar 3 (PTI) Online travel services provider Easy Trip Planners Ltd on Thursday said its board has approved allotment of bonus shares in the ratio of one share for every one existing share held by eligible shareholders.The board of directors at its meeting held on March 3, 2022, has approved the allotment of [...]

New Delhi, Mar 3 (PTI) Bajaj Hindusthan Sugar, India's largest sugar manufacturer, on Thursday received the Board's in-principle nod for exploring options for capital restructuring, resolution plan for debt and other corporate restructuring.A decision in this regard was taken at the Board's meeting held on Thursday, according to a regulatory filing.The Board "has granted in-principle [...]

New Delhi, Mar 3 (PTI) Bengaluru-based edtech firm Scaler has acquired online learning platform AppliedRoots for USD 50 million (about Rs 378 crore) to strengthen its course offerings for engineers.  "We are delighted to welcome the AppliedRoots team to be part of the Scaler ecosystem. All the co-founders have extensive experience across software development, AI, [...]

New Delhi, Mar 3 (PTI) Reliance Industries' subsidiary RSBVL and Sanmina Corporation on Thursday announced creation of an electronic manufacturing joint venture in India. Reliance Strategic Business Ventures Limited (RSBVL) will hold 50.1 per cent equity stake in the joint venture entity while Sanmina will have 49.9 per cent shareholding. RSBVL will achieve this ownership [...]

New Delhi, Mar 2 (PTI) Telecom infrastructure provider ATC India on Wednesday announced the appointment of Sandeep Girotra as its chief executive officer (CEO). He succeeds Ashwini Khillan, who is moving into a new Asia-Pacific regional leadership role, ATC India said in a statement. Girotra has over 30 years of experience across various functions within [...]

New Delhi, Mar 2 (PTI) Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round. The funds will be used to expand Prozo's warehousing and fulfilment footprint, client base, and technology and [...]

New Delhi, Mar 2 (PTI) Agro-chemicals major UPL Ltd on Wednesday announced a buyback of shares worth up to Rs 1,100 crore from shareholders, excluding promoters. In a regulatory filing, the company said its board has approved the proposal to buy back fully paid-up equity shares of face value of Rs 2 each from shareholders [...]

New Delhi, Mar 2 (PTI) Markets regulator Sebi has penalised an individual for procuring unpublished price-sensitive information related to financial results of Manappuram Finance Ltd (MFL) and communicating the same through a research report. The regulator levied a fine of Rs 15 lakh on Pankaj Agarwal, who was part of the research department of Ambit [...]

Mumbai, Mar 2 (PTI) Madhabi Puri Buch took over as the Chairperson of capital markets regulator Sebi on Wednesday, succeeding Ajay Tyagi who completed his five-year term. Buch, the first woman to head the important financial regulator and also the first non-bureaucrat to lead it in many years, was appointed by the government for a [...]

Mumbai, Mar 2 (PTI) To speed up the debt resolution for the IL&FS group entity CNTL, the lenders led by State Bank of India will meet shortly to evaluate and vote on the new resolution plan that the firm has proposed at a valuation of Rs 5,257 crore. CNTL, which owes a little over Rs [...]

New Delhi, Mar 2 (PTI) Edelweiss Housing Finance (EHFL) has entered into a co-lending partnership with Standard Chartered Bank, under which they will jointly service loans against property to customers in 20:80 ratio. Announcing the tie-up, the Edelweiss group's housing finance arm said the co-lending arrangement is specially targeted towards micro, small and medium enterprises [...]

New Delhi, Mar 2 (PTI) Medical technology firm Trivitron Healthcare on Wednesday said it has acquired US-based The Kennedy Company, a leading manufacturer of radiation shielding materials and acoustic barrier products. Financial details were not disclosed. "This acquisition will make Trivitron one of the very few fully vertically integrated radiation protection manufacturers in the world, [...]

New Delhi, Mar 2 (PTI) Prop tech startup Zapkey that helps its customers with guaranteed home sales, has secured USD 2 million in a funding round led by Nikhil Kamath and Abhijeet Pai-backed Gruhas Proptech. The seed funding round also saw participation from the DLF Family Office, Blume Founders Fund, the Alkem Labs Family, Aprameya [...]

Expands Lear's product offerings into thermal comfort seating solutions for emerging market trends SOUTHFIELD, Mich., March 1, 2022 /PRNewswire/ – Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has completed the acquisition of substantially all of Kongsberg Automotive's Interior Comfort Systems (ICS) business unit. The acquisition will [...]

Immediately Accretive Combination Creates a Unique Global, Vertically Integrated Biosimilars Leader BENGALURU, India, Feb. 28, 2022 /PRNewswire/ -- Biocon Biologics Ltd., a subsidiary of Biocon Ltd. (BSE code: 532523) (NSE: BIOCON), has entered into a definitive agreement with its partner Viatris Inc. (NASDAQ: VTRS). Accordingly, Biocon Biologics Ltd. (BBL) will acquire Viatris' biosimilars business to [...]

New Delhi, Mar 1 (PTI) Social media giant Meta on Tuesday said that over 11.6 million content pieces were "actioned" on Facebook across 13 violation categories in India in January. These categories include bullying and harassment, child endangerment, dangerous organisations and individuals, and adult nudity and sexual activity. Other areas where content was actioned were [...]

New Delhi, Mar 1 (PTI) The Canada Pension Plan Investment Board (CPPIB) will invest Rs 2,650 crore in a joint venture with Bengaluru-based realty firm RMZ Corp to develop and acquire commercial projects across India. RMZ Corp and CPPIB announced that they have entered into their second joint venture to develop and hold commercial office [...]

Mumbai, Mar 1 (PTI) Kuhoo, a fintech startup focused on student loans, has raised USD 20 million (about Rs 151 crore) from West Bridge Capital in seed funding. Kuhoo is floated by banking veteran Prashant A Bhonsle, who had earlier worked with ICICI Bank, HDFC Credila and InCred. The digital platform provides online loans to [...]

Mumbai, Mar 1 (PTI) Infibeam Avenues, a listed fintech company, has acquired the payments-focused Uvik Technologies for Rs 75 crore in a cash and stock deal. Venture capital fund Season Two Ventures will get an exit through the deal, as per a statement. Uvik is in the contactless payments space and has developed a technology [...]

Mumbai, Mar 1 (PTI) Snapmint, a buy-now-pay-later platform, has raised USD 9 million in its series-A funding from a clutch of investors and industry leaders led by Prashasta Seth of Prudent Investment Managers. The round also saw participation of 9Unicorns, Anicut Capital, Negen Capital, Livspace founder Ramakant Sharma, Usama Fayyad of Open Insights among other [...]

New Delhi, Feb 28 (PTI) Future group companies have received go-ahead from the National Company Law Tribunal to convene and conduct the meetings of their respective shareholders and creditors to seek their approval for Rs 24,713 crore deal with Reliance Retail. The development comes almost three days after Reliance Industries Ltd took over the operations [...]

New Delhi, Feb 28 (PTI) The board of state-run Power Finance Corporation on Monday approved a proposal for borrowing Rs 82,000 crore in 2022-23. The board in its meeting held on February 28, 2022, approved borrowings of Rs 82,000 crore in 2022-23 through bonds, foreign currency borrowings, debentures, commercial papers among others, a BSE filing [...]

New Delhi, Feb 28 (PTI) Mankind Pharma on Monday said it will acquire Panacea Biotec Pharma's formulations brands, for India and Nepal markets, for Rs 1,872 crore. Both the entities have entered into definitive agreements for the transaction involving a total consideration of Rs 1,872 crore. Panacea Biotec Pharma Ltd is a wholly-owned subsidiary of [...]

Kolkata, Feb 28 (PTI) In its bid to take full management control of city-based dry cell battery major Eveready Industries India Ltd, the Burmans of the Dabur family on Monday made an open offer for an additional 26 per cent of shares at Rs 320 per scrip. The mandatory open offer under the takeover regulations [...]

New Delhi, Feb 28 (PTI) B2B e-commerce firm Indiamart on Monday announced acquisition of 26.01 per cent stake in cloud-based account software firm Adansa Solutions for Rs 13.75 crore. As part of the transaction, Indiamart's wholly-owned subsidiary Tradezeal Online Private Limited has acquired shares via a mix of primary and secondary share purchases. "Unlike existing [...]

Mumbai, Feb 28 (PTI) IT service management company Nagarro on Monday said it is planning to add 4,500 people to its workforce globally in the coming months, which will also include freshers. In a statement, the company announced that the size of its workforce has crossed the 15,000 mark. "From 8,700 at the end of [...]

Mumbai, Feb 28 (PTI) Mahindra Logistics Ltd (MLL) on Monday said it will acquire up to 60 per cent stake in last-mile delivery services provider Whizzard for Rs 71.73 crore. A decision in this regard was taken pursuant to approval by the Investment Committee of the company's board at a meeting held on February 28, 2022. [...]

Mumbai, Feb 28 (PTI) Avendus Wealth is planning big on the wealth management business and aims to have assets under management worth USD 6-7 billion by the end of this fiscal. Avendus Wealth had closed last fiscal year with an AUM (Assets Under Management) of a little over USD 3.03 billion or Rs 22,730 crore, [...]

Mumbai, Feb 28 (PTI) National airports operator AAI will provide air traffic services at the upcoming Noida International Airport at Jewar in Greater Noida, the first phase of which is expected to be commissioned by 2024, a statement said. An agreement to this effect was signed between the Airports Authority of India (AAI) and Yamuna [...]

New Delhi, Feb 28 (PTI) Shares of biotechnology major Biocon on Monday tanked over 11 per cent after the company said its subsidiary Biocon Biologics has inked a pact to acquire Viatris Inc's biosimilars business.On BSE, the shares closed 11.47 per cent lower at Rs 348.95. During the day, it touched a low of Rs [...]

New Delhi, Feb 28 (PTI) Infrastructure investment trust PGInvIT will acquire stakes in various assets of Power Grid Corporation of India Ltd (PGCIL) for Rs 644.15 crore, a regulatory filing said on Monday. The Board of Directors of POWERGRID Unchahar Transmission Ltd – the investment manager to PGInvIT, in its meeting held on Monday, February [...]

Mumbai, Feb 28 (PTI) Mahindra Logistics Ltd (MLL) on Monday said it has acquired a majority stake in last-mile delivery services provider Whizzard. The acquisition will complement Mahindra Logistics' existing last-mile delivery business and its electric vehicle-based delivery services, EDeL, MLL said in a statement, without disclosing the amount it paid for the stake purchase.             Hyderabad-based [...]

New Delhi, Feb 28 (PTI) Madhabi Puri Buch on Monday was appointed as the new chairperson of Sebi, the first woman to head the capital market regulatory body. She has replaced Ajay Tyagi, whose five-year term has come to an end.      The Appointments Committee of Cabinet has approved Buch's appointment for an initial [...]

BEIJING, Feb. 28, 2022 /PRNewswire/ -- On February 25, the leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets - Chindata Group officially announced that Mr. Wu Huapeng, former China President of the Group, was appointed as the Group's CEO, in full charge of the Group's strategic planning, organization management and business development, [...]

New Delhi, Feb 28 (PTI) Piramal Enterprises Ltd on Monday said the administrative committee of its board of directors has approved raising up to Rs 500 crore through issue of non-convertible debentures on a private placement basis. The committee at its meeting held on Monday approved issue of non-convertible debentures (NCDs) of up to Rs [...]

New Delhi, Feb 28 (PTI) The government on Monday appointed former Sebi member Madhabi Puri Buch as chairperson of the Securities and Exchange Board of India (Sebi). This is the first time that a woman will be heading the capital market regulator. She has replaced Ajay Tyagi, whose five-year term has come to an end. [...]

Mumbai, Feb 28 (PTI) Premium men's lifestyle brand Damensch has raised USD 16.4 million (around Rs 122.5 crore) in series-B funding led by A91 Partners and existing investors Saama Capital, Matrix Partners and Whiteboard Capital.The company has a portfolio of over 200 SKUs listed across over 15 categories and made more than 10 million shipments [...]

New Delhi, Feb 28 (PTI) Automaker Kia India on Monday said it has ramped up production to full capacity of 3 lakh units annually with the start of the third shift at its Anantapur plant in Andhra Pradesh.  Kia India had commenced mass production from the facility in August 2019. It had recently crossed 5 [...]

Mumbai, Feb 27 (PTI) Kalyan Jewellers is planning to enter the franchise model in the first half of the next financial year to accelerate expansion mainly in the non-southern India market, according to a top company executive. "We decided to make a foray into the franchise model to accelerate our expansion. Till date, all stores [...]

New Delhi, Feb 27 (PTI) The government is looking to hire a person to manage and monetise land as well as other immovable properties of AI Assets Holding Ltd (AIAHL) that are estimated to be worth around Rs 14,000 crore. The designation of the person will be 'Chief of Properties and Monetisation Officer' and will [...]

New Delhi, Feb 27 (PTI) The National Payments Corporation of India (NPCI) is focussing on gaining new customers to expand the indigenous RuPay-enabled credit card base, as the retail payments umbrella body is still a new entrant in this space, a top official of the company said. "If you look at the credit cards, we [...]

New Delhi, Feb 27 (PTI) Reliance Retail - which grew its retail footprint by 39 per cent (in square feet) since the pandemic, added multiple brands and expanded its digital commerce - will further swell its network with the addition of Future Retail stores that came under its fold after the owner couldn't pay lease [...]

New Delhi, Feb 26 (PTI) Billionaire Mukesh Ambani's Reliance Industries Ltd has taken over the operations of at least 200 stores of Future Retail and has offered jobs to its employees after the Kishore Biyani-led group failed to make lease payments to landlords, sources said on Saturday. Reliance Retail, the retail arm of the oil-to-telecom [...]

New Delhi, Feb 25 (PTI) Debt-ridden telecom firm Vodafone Idea Ltd (VIL) on Friday said its board will meet on March 3 to discuss the fundraising option. British telecom operator Vodafone Plc in a statement earlier stated that it will participate in VIL's fundraising process along with the Aditya Birla group. "A meeting of the [...]

New Delhi, Feb 25 (PTI) Indian Overseas Bank (IOB) on Friday said the government has appointed Vivek Aggarwal on its board as an RBI nominee director with immediate effect. The government, vide notification dated February 25, has appointed Vivek Aggarwal, as an RBI nominee director in Indian Overseas Bank with immediate effect and until further [...]

New Delhi, Feb 25 (PTI) IT major TCS on Friday said it has partnered with the University of Kashmir to launch a programme to improve employability skills of students in Kashmir under its corporate social responsibility (CSR) initiative. Under the programme, TCS will carry out its five initiatives – Youth Employment Program (YEP), BridgeIT, goIT, [...]

New Delhi, Feb 25 (PTI) Union Bank of India (UBI) on Friday said it has approved the extension of B S Venkatesha as the chief risk officer for three months. "The board of directors of the bank, at its meeting held today, February 25, 2022, approved the extension of tenure of B S Venkatesha, chief [...]

New Delhi, Feb 25 (PTI) The Reserve Bank has extended the tenure of its additional director G Jagan Mohan on the board of Dhanlaxmi Bank by two years, as per a regulatory filing on Friday. The central bank, vide letter dated February 25, 2022, has extended the term of office of G Jagan Mohan, RBI [...]

New Delhi, Feb 25 (PTI) IIFL Securities on Friday paid settlement amount of over Rs 2 crore to markets regulator Sebi in order to settle a case. The company was alleged to have violated stock brokers regulation as well as Prohibition  of  Fraudulent  and  Unfair  Trade  Practices regulation. It was alleged that IIFL Wealth  Management  Ltd [...]

New Delhi, Feb 25 (PTI) Shriram Transport Finance Company (STFC) on Friday said it has raised Rs 900 crore by issuing bonds on a private placement basis and the proceeds from the issue will be used for further lending and other business purposes. The allotment committee of the company in its meeting on Friday approved [...]

New Delhi, Feb 25 (PTI) Crisil on Friday said it has upgraded its rating on the long-term bank facilities and debt instruments of Vedanta Ltd to 'AA'. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. "Crisil Ratings has [...]

New Delhi, Feb 25 (PTI) Tata Steel on Friday reiterated its commitment to build a sustainable future by shipping nearly 1,800 tonnes of finished steel products from Haldia Port in West Bengal to Pandu Port in Assam using the Indo-Bangladesh Protocol (IBP) route via Brahmaputra River. This shipment of Tata Steel's TMT bars that arrived [...]

New Delhi, Feb 24 (PTI) Leading FMCG firm Hindustan Unilever Ltd (HUL) on Thursday announced the separation of the position of Chairman of the Board and the CEO & Managing Director, and has appointed Nitin Paranjpe as a Non-Executive Chairman of the company. Paranjpe, currently working as the Chief Operating Officer of Anglo-Dutch FMCG major [...]

Mumbai, Feb 24 (PTI) Financial services player Northern Arc group on Thursday said it has acquired Smile Microfinance through slump sale. The deal value has not been disclosed. The transaction involves taking over the microfinance portfolio of Smile along with its 150 branches catering to over 2 lakh customers served by around  850 employees. The [...]

New Delhi, Feb 24 (PTI) The Competition Commission of India (CCI) on Thursday approved acquisition of stake in ISMT Ltd by Kirloskar Ferrous Industries Ltd. Through the proposed combination, Kirloskar Ferrous proposes to acquire sole control of ISMT pursuant to subscription of "a preferential allotment and an open offer to acquire up to 25.05 per [...]

New Delhi, Feb 24 (PTI) Markets regulator Sebi has notified amendments to the depositories and participants norms, hiking the net worth requirement for trading members. As per the revised norms, stock brokers are required to have a net worth of Rs 3 crore, within one year of the date of notification, according to the notification [...]

New Delhi, Feb 24 (PTI) NSE Academy, a wholly-owned subsidiary of the National Stock Exchange (NSE), on Thursday said it has joined hands with Indian Institute of Management, Raipur to collaborate in the area of joint certification programmes in finance and financial technologies. Under this collaboration, both the institutions will offer market defining, several long [...]

New Delhi, Feb 24 (PTI) The Zydus group on Thursday said its listed entity Cadila Healthcare would now be known as Zydus Lifesciences Ltd as part of new brand identity. The Ahmedabad-based group is present in 55 countries, with 36 manufacturing plants, 8 R&D centres, 1,400 research scientists and 23,000 employees worldwide. "Our new brand identity [...]

Mumbai, Feb 24 (PTI) Mahindra & Mahindra Financial Services Limited (Mahindra Finance) on Thursday said it is planning to increase the number of branches of its Sri Lankan subsidiary Mahindra Ideal Finance Ltd (MIFL) to around 100 over the next three years from 17 at present. In July 2021, Mahindra Finance had increased its stake [...]

New Delhi, Feb 24 (PTI) Auto component major Bharat Forge on Thursday said it will acquire JS Autocast Foundry India. The company, along with its subsidiary, BF Industrial Solutions, has entered into a definitive agreement to acquire JS Autocast Foundry India (JS Auto), the company said in a statement. Established in 2004, JS Auto is [...]

New Delhi, Feb 24 (PTI) IDBI Bank on Thursday said its board has approved appointment of T N Manoharan as additional director with immediate effect. Manoharan is not related to any other director on the board and the KMP (key management personnel) of the bank, the lender said in a BSE filing. "The board of [...]

Mumbai, Feb 24 (PTI) Curefoods, a cloud kitchen company that houses brands like EatFit, CakeZone and Great Indian Khichdi, on Thursday announced acquisition of the South India franchise rights for US-based pizza chain Sbarro. Sbarro is a global pizza brand that specialises in New York-style pizzas and is currently present in 630 locations across 28 [...]

New Delhi, Feb 24 (PTI) Niyo, the consumer neo-banking platform, on Thursday said it has raised USD 100 million (about Rs 750 crore) from a group of private equity firms led by Accel and Lightrock India. The company will use the funds to accelerate its mission to transform banking in India, and to provide convenient [...]