Steel Authority Of India Ltd To Supply 4000 Tons of Steel Plates to Indian Navy Project
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy. The P17A Project comprises the construction of seven ships, of which six have been launched between September 2019 and August 2023. In a statement [...]
Jupiter Hospital to mop up Rs. 869 Cr through IPO: The price range is fixed at Rs. 695-735
Jupiter Life Line Hospitals, a multispecialty hospital network, announced on Friday that it has set a price range of Rs. 695-735 per share for its Rs. 869-crore initial public offering (IPO). The company said the initial share sale will open for public subscription during September 6-8 and the bidding for anchor investors will open on [...]
Jalan Kalrock Consortium contributes an additional Rs 100 Cr to Jet Airways under revival plan
The winning bidder, Jalan Kalrock Consortium, announced on Thursday that it has invested an additional Rs 100 crore in Jet Airways, bringing its total investment in the airline to Rs 250 crore. "JKC confirms to have deposited Rs 100 crores in Jet Airways in less than 48 hours of the NCLAT allowing implementation of the [...]
Verlinvest Asia sold a 12.56% stake in Sula Vineyards for Rs 513 Cr
Verlinvest Asia Pte Ltd, an investment firm, sold a 12.56 per cent stake in the wine manufacturer Sula Vineyards on Thursday for Rs 513 crore in an open market deal. Following the stake sale, shares of Sula Vineyards declined 3.62 per cent to close at Rs 490.30 apiece on the NSE. According to the bulk [...]
Top Latest News on Corporate Actions
SBI gets Board nod to offload its 6% stake in SBI Mutual Fund via IPO
New Delhi, Dec 15 (PTI) The State Bank of India (SBI) on Wednesday said it has received board approval for selling its 6 per cent stake in SBI Mutual Fund through the initial public offering (IPO) route. The Executive Committee of Central Board has accorded approval for exploring possibilities to offload 6 per cent stake [...]
Flutura Achieves AWS Energy Competency Status
BANGALORE, India, Dec. 15, 2021 /PRNewswire/ -- Flutura Decision Sciences and Analytics announced today that it has achieved Amazon Web Services (AWS) Energy Competency status. This designation recognizes that Flutura has demonstrated deep expertise helping customers leverage AWS to build, implement, and integrate technology to enable the transformation of complex business and operational systems. AWS [...]
Uniphore Collaborates with Cisco to Enable Better Customer Experiences
Uniphore joins Cisco SolutionsPlus Partner Program Chennai, India, &Palo Alto, Calif. – Business Wire India Uniphore, the leader in Conversational Automation, announced today that it has joined Cisco SolutionsPlus, an industry-leading partner program that helps enterprise buyers design and implement complete end-to-end customer solutions. Through Cisco’s SolutionsPlus Program, Cisco’s customers and channel partners can purchase [...]
Amid pandemic, Corp Affairs Ministry provides more leeway for cos to hold AGMs virtually
New Delhi, Dec 14 (PTI) The corporate affairs ministry on Tuesday provided more leeway for companies in terms of holding annual general meetings in virtual mode. The relaxation will be applicable for companies planning to hold their annual general meetings (AGMs) next year for the financial year 2021-22. Companies proposing to hold their AGMs in [...]
QSR startup Third Wave Coffee raises $6 million
New Delhi, Dec 14 (PTI) Quick service restaurant startup Third Wave Coffee on Tuesday said it has raised USD 6 million (about Rs 45.5 crore) in funding from a clutch of investors, including Udaan co-founder Sujeet Kumar.The series A funding round saw participation from several existing and new shareholders, including Sujeet Kumar (Udaan co-founder), Arpan [...]
HDFC invokes 50 lakh shares pledged by Ansal Housing to recover dues
New Delhi, Dec 14 (PTI) The country's largest mortgage lender HDFC Ltd on Tuesday said it has invoked 50 lakh shares pledged by Ansal Housing Ltd to recover its dues from the company. "For the purpose of recovery of part outstanding dues against loans availed by certain pledges/borrowers, the Corporation on December 13, 2021 invoked [...]
ITC analysts meet: No concrete plan for demerger, listing announced
Kolkata, Dec 14 (PTI) Multi-business conglomerate ITC Ltd has not given any concrete plan for demerger and listing of businesses to unlock value at its analyst meet on Tuesday, but did not rule out that those are options for the company, according to analysts present at the programme. The market was expecting some concrete announcements [...]
Flipkart’s Shopsy adds grocery segment
New Delhi, Dec 14 (PTI) Flipkart's social commerce offering Shopsy on Tuesday said it has started offering grocery as a category on its platform that was launched earlier this year. Leveraging Flipkart Group's supply chain infrastructure and tech capabilities, Grocery on Shopsy will cater to consumers across 700 cities, spanning over 5,800 pin codes, a [...]
Govt invites global bids for strategic divestment of PDIL, HLL Lifecare
New Delhi, Dec 14 (PTI) The finance ministry on Tuesday invited global bids for strategic sale of Projects & Development India Limited (PDIL) and HLL Lifecare Limited (HLL) as part of the disinvestment process. The last date for submission for bids is January 31 for both the state-owned entities. "GoI invites Expression of Interest (EoI) [...]
SBI collected Rs 346 cr since FY18 in additional services fee on basic savings, Jan Dhan a/c
New Delhi, Dec 14 (PTI) The country's largest lender State Bank of India (SBI) collected around Rs 346 crore from 2017-18 up to October 2021 in the form of additional services to customers holding basic savings, including Jan Dhan accounts, which were beyond their free services, the Finance Ministry said in Parliament on Tuesday. "As [...]
IndiGo partners with Kotak Mahindra Bank to launch co-branded credit card
New Delhi, Dec 14 (PTI) IndiGo airlines, in partnership with Kotak Mahindra Bank, on Tuesday launched a co-branded credit card which allows customers to gain points that can be used to purchase tickets on its flights.The credit card was launched by IndiGo chief commercial officer William Boulter and Kotak Mahindra Bank president for consumer assets [...]
EeVe India lines up Rs 1k cr investment to roll out new products, expand sales infra
New Delhi, Dec 14 (PTI) Electric two-wheeler maker EeVe India on Tuesday said it plans to invest up to Rs 1,000 crore over the next two years to roll out new products, set up charging infrastructure and expand its sales network.The company, which unveiled a high-speed electric scooter Soul on Tuesday, aims to garner a [...]
Unilever CHRO Leena Nair quits; joins French luxury fashion house Chanel as global chief executive
New Delhi, Dec 14 (PTI) Leena Nair, the first female and youngest-ever Chief Human Resources Officer of Anglo-Dutch FMCG major Unilever has stepped down to join French luxury group Chanel as its Global Chief Executive.She was a member of the Unilever Leadership Executive (ULE), which is responsible for delivering Unilever’s business and financial performance."Leena Nair, [...]
EPFO invested Rs 2,500cr in Reliance Capital’s bonds; asked govt to initiate insolvency process: FinMin
New Delhi, Dec 14 (PTI) The Employees Provident Fund Organisation (EPFO) had asked the government to initiate insolvency and bankruptcy proceedings against Reliance Capital as it has invested Rs 2,500 crore in the company's bond programmes, the Finance Ministry said in Parliament on Tuesday. The Ministry of Labour and Employment has apprised that Employees Provident [...]
NY court summons Tata America over alleged failure to raise money for PM Relief Fund
Mumbai, Dec 14 (PTI) The US Federal Court for the Southern District of New York has issued summons to Tata America in an alleged breach of contractual obligations by not following an August 2018 direction from Tata group patriarch Ratan Tata asking the company to help the plaintiff raise USD 500 million towards the Prime [...]
Rays Power Infra inks pact with Rajasthan govt to build 500 MW solar park
New Delhi, Dec 14 (PTI) Rays Power Infra has inked a pact with the Rajasthan government to build a 500 MW solar park."Rays Power Infra has signed a memorandum of understanding (MoU) with the Rajasthan government for constructing an avant-garde PV Photovoltaic (PV) Power Station (commonly referred to as solar power plant) and generating 500 [...]
Natco board approves proposal to acquire US-based firm
New Delhi, Dec 14 (PTI) Natco Pharma on Tuesday said its board has approved a proposal to acquire US-based Dash Pharmaceuticals LLC for a cash consideration of USD 18 million.The company’s board has approved to acquire Dash Pharmaceuticals through one of its subsidiary units, the drugmaker said in a regulatory filing.Natco, through its affiliates, is [...]
Aditya Birla Fashion snaps up Reebok marketing rights
Mumbai, Dec 14 (PTI) In a major expansion into sportswear and lifestyle wear segment, the Kumar Mangalam Birla-led Aditya Birla Fashion & Retail has signed a long-term licensing agreement with Authentic Brand Group of New York, which has the marketing and branding rights of Reebok, to run the operations of the global sportswear, athletic and [...]
Napino in strategic tie up with US firm for oxygen sensor tech
Mumbai, Dec 14 (PTI) Automotive component designing and manufacturing firm Napino Auto and Electronics on Tuesday said it has formed a strategic partnership with US-based Kerdea Technologies Inc for oxygen sensor technology. Oxygen sensors will cater to the needs of the domestic automobile industry in BS-VI regime and the upcoming On Board Diagnostic (OBD2) norms, [...]
Axis Bank not for extending timelines on loans recast; no deal-talk with Spandana
Mumbai, Dec 14 (PTI) Axis Bank on Tuesday said it will not be joining force with peers seeking an extension of timelines for meeting financial parameters on loans recast under the Kamath committee framework because of the pandemic-related stress.Its deputy managing director (designate) Rajiv Anand also made it clear that there are no conversations around [...]
Open acquires consumer neo-banking platform Finin for $10 million
Bengaluru, Dec 14 (PTI) SME neo-banking platform Open on Tuesday announced its acquisition of consumer neo-banking platform Finin for USD ten million in a cash-and-stock deal. Founded by Suman Gandham and Sudheer Maram, Finin was backed by Unicorn India Ventures and Archana Priyadarshini, and offers a savings account that allows consumers to save and invest [...]
L&T Infotech inaugurates new delivery centre in Hyderabad
Hyderabad, Dec 14 (PTI): Larsen & Toubro Infotech, a technology consulting and digital solutions company on Tuesday said it has expanded its Hyderabad operations by setting up a new facility in the city equipped to house over 3,000 employees to support its global operations. The 110,000 sq. ft. state-of-the-art centre will focus on delivering digital, [...]
Natco Pharma proposes to acquire Dash Pharmaceuticals
Hyderabad, Dec 14 (PTI): Natco Pharma Limited through its affiliates is proposing to enter into an agreement to acquire Dash Pharmaceuticals LLC subject to satisfactory completion of due diligence, execution of definitive agreements and compliance with statutory requirements. According to a press release issued by the city-based drug maker, Dash is a front-end pharmaceutical sales, [...]
Infosys selected by Orion Corporation to transform its ERP, Planning platforms
Bengaluru, Dec 14 (PTI) Infosys on Tuesday announced that it has been selected by Finnish pharmaceutical company Orion Corporation to holistically transform its ERP and Planning platforms, enhance employee experience, and drive business value realisation.Through this engagement, Bengaluru-headquartered Infosys said it will adopt standardised best SAP practices to enable end-to-end visibility across Orion's operations, informed [...]
HFCL raises Rs 600 crore though QIP
New Delhi, Dec 14 (PTI) Domestic telecom gear maker HFCL on Tuesday said it has raised Rs 600 crore through the QIP issue, which it plans to use for expanding manufacturing facilities and product development.The QIP (qualified institutional placement) received responses from various institutional investors like Reliance Ventures, Quant Mutual Fund, IIFL Wealth, Elara India, [...]
Simple Energy joins hands with IIT-Indore for flagship e-scooter, future products
Mumbai, Dec 14 (PTI) Bengaluru-based electric two-wheeler maker Simple Energy has collaborated with the Indian Institute of Technology-Indore (IIT-Indore) to develop an advanced thermal management system for its flagship e-scooter Simple One and future products, the company announced on Tuesday. The collaboration with IIT Indore will boost Simple Energy's R&D and aid in the integration [...]
Zomato names Anjalli Ravi as Chief Sustainability Officer, Nitin Savara as Deputy CFO
New Delhi, Dec 14 (PTI) Online food delivery platform Zomato on Tuesday announced senior level hirings with ex-Unilever executive Anjalli Ravi Kumar joining as Chief Sustainability Officer and Nitin Savara as Deputy Chief Financial Officer. The company has consistently focused on corporate sustainability and Kumar's appointment is to take "our initiatives to the next level [...]
Aster Announces Bringing Healthcare to the Doorsteps Through 455 Facilities
Bangalore, Karnataka, India – Business Wire India • Launched in 1987, Aster has emerged as one of the largest integrated healthcare providers in GCC and India with 27 hospitals, 126 clinics/labs and 302 Pharmacies1 • The campaign “Care is Just An Aster Away” was launched along with the unveiling of the new Corporate Logo on [...]
Raasta Autotech to expand services to 30 cities by next year
Mumbai, Dec 14 (PTI) Car and bike service aggregator Raasta Autotech announced on Tuesday its plan to expand its services to 30 cities by next year with the first phase seeing operations in seven cities, including some of the metrospolis. Besides widening its presence, the company also plans to onboard over 50 garages per city, [...]
Hero Electric joins hands with Log 9 Materials for InstaCharging battery packs
Mumbai, Dec 14 (PTI) EV maker Hero Electric has joined hands with Bengaluru-based advanced battery technology start-up Log 9 Materials to offer latter's InstaCharging battery packs for its entire range of EVs. The integration of Log9's RapidX batteries will fully charge the Hero e-two-wheelers within 15 minutes, a release said on Tuesday. The startup leveraged [...]
Rebel Foods plans to invest USD 150 mn to acquire, scale new food brands
New Delhi, Dec 14 (PTI) Rebel Foods, which runs chain of internet restaurants, on Tuesday said it plans to invest USD 150 million (nearly Rs 1,140 crore) to acquire and scale new food brands in India and globally. The investment pool will be used in the next few quarters, to scale up existing and new [...]
Ray Business Technologies to hire 200+ employees in first two quarters in 2022
HYDERABAD, India, Dec. 14, 2021 /PRNewswire/ -- Leading Technology Solution provider, Ray Business Technologies, a CMMI Level 3 Company, plans to hire 200 employees in the first 6 months of 2022. With 12 years of rich business experience, Ray Business Technologies, headquartered in India and having its offices in USA, Canada, Australia and Philippines, is [...]
Pickrr targeting 80-90 pc next-day deliveries; unveils 10 fulfilment centers
Mumbai, Dec 14 (PTI) Logistics tech startup Pickrr is targeting 80-90 per cent next-day deliveries, amid a strong 1-million fulfilment orders in January next year, the platform said on Tuesday. The company delivers 3 million shipments per month, and with the target of next-day deliveries, it aims to take this number higher, it said, adding [...]
Sachin Tendulkar joins Spinny as strategic investor, lead brand endorser
Mumbai, Dec 14 (PTI) Former Indian cricketer Sachin Tendulkar has joined pre-owned car retailing platform Spinny as a strategic investor and lead brand endorser, the company said in a release on Tuesday. Spinny, however, did not disclose the amount of investment by Tendulkar in the company. Spinny recently became a Unicorn with the closing of [...]
Indian Online Storytelling Platform, Pratilipi Onboards Anshul Deep Saxena as CTO, in a Search led by Purple Quarter
BANGALORE, India, Dec. 14, 2021 /PRNewswire/ -- Bespoke CTO Search firm, Purple Quarter found the ideal leader for Pratilipi with the appointment of Amazon techie, Anshul Deep Saxena to lead their engineering teams. Anshul joined the leadership team on December 13. Pratilipi is the largest Indian language storytelling platform operating in 12 Indian languages and [...]
Sudarshan Venu, JMD, TVS Motor Company Leads Series C Funding for Ultraviolette Automotive
Investment to be deployed for production and commercial launch of the F77 Bengaluru, Karnataka, India – Business Wire India Ultraviolette Automotive Pvt. Ltd., an innovator in sustainable mobility, today announced that it has raised a new round of capital in its Series C funding, led by TVS Motor Company to support Ultraviolette’s vision of developing [...]
Adani Green Energy inks pact with SECI to supply 4,667 MW renewable energy in largest evergreen PPA
Adani Green Energy Ltd (AGEL) has signed a power purchase agreement (PPA) with the state-run Solar Energy Corporation of India (SECI) to supply 4.66 gigawatts (GW) of green power. “The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020, which [...]
Wipro Expands Sports, Entertainment, Retail and Transport Offerings with Launch of Wipro VisionEDGE Solution
- Expanded strategic partnership with Cisco positions Wipro as a leader in providing solutions & services to the digital advertising industry NEW YORK and BANGALORE, India, Dec. 13, 2021 /PRNewswire/ -- Wipro Limited (NYSE: WIT) (BSE: 507685) (NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced Wipro VisionEDGE, a [...]
Sebi passes confirmatory order in matter related to insider trading in Infosys scrip
New Delhi, Dec 13 (PTI) Markets regulator Sebi on Monday passed a confirmatory order against an Infosys employee and his connected person, who was an employee of Wipro Ltd, in a matter related to alleged insider trading in Infosys shares. Sebi said Ramit Chaudhari and Keyur Maniar "should desist from directly accessing the securities market [...]
PB Fintech to set up account aggregator subsidiary
New Delhi, Dec 13 (PTI) PB Fintech on Monday said its board has approved forming a wholly-owned subsidiary to function as an account aggregator. The board of directors of the company at its meeting held on December 13, 2021 approved the incorporation of the wholly owned subsidiary to carry on the business of an account [...]
The Good Glamm Group acquires MissMalini Entertainment
New Delhi, Dec 13 (PTI) The Good Glamm Group, a content-to-commerce organisation, on Monday said it has acquired celebrity media and influencer talent management network, MissMalini Entertainment for an undisclosed amount.A first of its kind acquisition of a personality-driven company by a content-to- commerce conglomerate, this strategic move will offer The Good Glamm Group an [...]
Essar’s Stanlow Terminals to invest in UK’s ‘largest’ biofuels storage
London, Dec 13 (PTI) Stanlow Terminals Limited (STL), part of Indian conglomerate Essar’s UK arm – Essar Oil UK, on Monday announced plans to make investments over the next three years to develop the UK’s "largest" biofuels storage hub located in the north west of England.STL said the new facilities at the Stanlow Manufacturing Complex [...]
Arrivae raises Rs 50 crore in Series-B funding round led by Havells Group
New Delhi, Dec 13 (PTI) Arrivae, a made-to-order furniture manufacturer and home improvement company, has raised an additional Rs 50 crore in Series-B funding round, led by Havells Group. The funding round also witnessed the participation of Emerge Capital and the existing investors, said a statement from Arrivae, a platform backed by ace investor Rakesh [...]
LIC introduces savings life insurance plan
Mumbai, Dec 13 (PTI) State-owned Life Insurance Corporation of India (LIC) on Monday introduced a non-linked, non-participating, individual savings life insurance plan. The insurer added that there are special premium rates for female lives and the plan is allowed to the third gender. The plan, Dhan Rekha, provides a percentage of the basic sum assured as survival benefit at [...]
Shriram Capital, SCUF to merge with Shriram Transport Finance
Mumbai, Dec 13 (PTI) Shriram group on Monday announced the merger of Shriram Capital Limited (SCL) and Shriram City Union Finance Ltd (SCUF) with Shriram Transport Finance Company (STFC). The merged entity, to be known as Shriram Finance Ltd, will be the largest retail finance non-banking finance company (NBFC) in the country, the group said. [...]
Vedanta drops cases against govt to settle retro tax dispute
New Delhi, Dec 13 (PTI) Billionaire Anil Agarwal's mining group Vedanta on Monday said it has withdrawn cases in the Delhi High Court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. Post slapping of a Rs 10,247 crore tax demand on UK's Cairn [...]
Morgan Stanley invests USD 22 mn in nutrition player Fullife Healthcare
Mumbai, Dec 13 (PTI) Fullife Healthcare, which is into active nutrition, healthcare and nutraceutical products and backed by investors such as Rakesh Jhunjhunwala, Sixth Sense Ventures, Kotak Securities and Akash Prakash, has raised USD 22 million in series-C funding from Morgan Stanley Private Equity Asia. Fullife owns brands Fast&Up and Chicnutrix, which are the leaders [...]
Raymond to raise Rs 100 cr through non-convertible debentures
New Delhi, Dec 13 (PTI) The country's leading fabric and apparel manufacturer Raymond Ltd on Monday said it plans to raise Rs 100 crore from the market by issuing non-convertible debentures (NCDs). The company's board is meeting on December 17 to consider and approve the NCDs, according to a regulatory filing from Raymond. "A meeting [...]
Greenlam to invest Rs 950 cr over 2-3 years; to enter plywood, particleboard business
New Delhi, Dec 13 (PTI) Surfacing solutions brand Greenlam on Monday announced to invest Rs 950 crore in 2-3 years towards setting up of the third laminate plant and made a foray into the plywood and particle board business. The investments in the new laminate plant and particleboard will be done by Greenlam South Ltd, [...]
BPCL ties up with BARC for green hydrogen production
New Delhi, Dec 13 (PTI) Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it has tied up with Bhabha Atomic Research Centre (BARC) for an electrolyser technology for green hydrogen as it looks to achieve net-zero emissions by 2040. BPCL's Chairman A K Singh said the oil refining and fuel marketing company plans to [...]
iQOO India appoints Nipun Marya as CEO
New Delhi, Dec 13 (PTI) Handset maker iQOO on Monday said it has appointed Nipun Marya as the Chief Executive Officer of its India operations. For the last five years, Nipun has served as Brand Strategy Director for Vivo India and he will now take up the new role to head iQOO India as the [...]
LyondellBasell Appoints Peter Vanacker as Chief Executive Officer
Kenneth Lane, Executive Vice President, Global Olefins & Polyolefins, Will Serve as Interim CEO During Transition Period HOUSTON and LONDON, Dec. 13, 2021 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced that the Board of Directors has appointed Peter Vanacker, President and CEO of Neste Corporation, as its new Chief Executive Officer. Mr. Vanacker succeeds Bhavesh [...]
Flipkart, Walmart invest $145mn in Ninjacart
New Delhi, Dec 13 (PTI) Flipkart India and Walmart on Monday said they have invested USD 145 million in fresh produce supply chain company Ninjacart. In October last year, Walmart and Flipkart Group had pumped in an undisclosed amount of funding in the Bengaluru-based company. This investment will further accelerate Ninjacart's journey towards building technology [...]
Cargolux selects IBS Software’s iCargo solution as next generation Cargo Management System
Thiruvananthapuram, Dec 13 (PTI) IBS Software, a leading India-born software product company, has signed a strategic long-term deal with Cargolux, Europe's No 1 all-cargo airline, for the replacement of its cargo management system. Cargolux will deploy IBS Software's iCargo SaaS solution to transform and manage its global air cargo business, a release issued by the [...]
JK Paper issued NCDs worth Rs 125 crore
New Delhi, Dec 13 (PTI) JK Paper Ltd on Monday said it has issued 12,500 non-convertible debentures (NCDs) to raise Rs 125 crore from the market on a private placement basis. This is in accordance with the company's plan to raise Rs 260 crore from the market through NCDs, as informed by it earlier on [...]
No proposal to transfer ONGC’s assets to OIL
New Delhi, Dec 13 (PTI) There is no proposal at present to transfer India's biggest oil and gas producer ONGC's assets to smaller state-owned firm Oil India Ltd (OIL), Parliament was informed on Monday. Assam Chief Minister Himanta Biswa Sarma had earlier this year written to Prime Minister Narendra Modi requesting him to consider transferring [...]
Waaree Renewable Tech bags a LOA for 140MW DC Solar Power Project in Gujarat
MUMBAI, India, Dec. 13, 2021 /PRNewswire/ -- Waaree Renewable Tech, one of the leading players in the solar industry announced that the Company has received a letter of award (LOA) for setting up a 140 MW DC Solar Power Plant in the state of Gujarat. This is a Turnkey Contract awarded by an India-focused renewable [...]
Ultraviolette Raises Series C Investment from TVS Motor Company and Zoho Corporation
Investment to be deployed for production and commercial launch of the F77 Bengaluru, Karnataka, India (NewsVoir) Ultraviolette Automotive Pvt. Ltd., an innovator in sustainable mobility, today announced that it has raised a new round of capital in its Series C funding, led by TVS Motor Company. Zoho Corporation has joined this round along with TVS [...]
Shriram group announces merger of 3 companies
Mumbai, Dec 13 (PTI) Three Shriram group companies on Monday announced their merger to create the country's largest retail finance NBFC in Shriram Finance Ltd, according to a release. The boards of three companies, Shriram Transport Finance (STFC), Shriram City Union Finance ( SCUF) and their promoter Shriram Capital ( SCL) have approved the merger [...]
Edelweiss buys back 5.3 pc from wealth management partner PAG for Rs 230 cr
Mumbai, Dec 13 (PTI) Edelweiss Wealth Management, among the top-three private wealth managers with Rs 1.81 lakh crore of assets under management, has bought back 5.28 per cent of its shares from the partner PAG by paying Rs 230 crore, thus increasing the stake to 44.16 per cent. Edelweiss Group Chairman and CEO Rashesh Shah [...]
NODWIN Gaming picks up 10 pc stake in Rusk Media
New Delhi, Dec 13 (PTI) Nazara Technologies on Monday said its subsidiary NODWIN Gaming has acquired a strategic 10 per cent stake in digital content IP media network, Rusk Media. No financial details of the transaction were disclosed. Continuing its 'youth first' philosophy, NODWIN Gaming aims to deepen and widen its portfolio of content IPs [...]
Kerala Angel Network invests in two south Indian startups
Kochi, Dec 13 (PTI) Two south Indian start-ups, Kerala-based talent-hiring venture, Zappyhire and Chennai-based digital home-cooking firm Cookd, have received investment from the Kerala Angel Network (KAN), an initiative of TiE Kerala. Further to the investment, TiE Kerala has also nominated Zappyhire to present as a 'TiEtan' at the TiE Global Summit (TGS) in Dubai [...]
BLS International inks contract with Embassy of India in Kuwait
Mumbai, Dec 13 (PTI) BLS International on Monday said it has signed a contract with the Embassy of India in Kuwait for consular, passport and visa services. The company will begin operations with three centres in Sharq, Fahaheel and Jleb Al Shuwaikh in Kuwait, BLS International said in a statement. BLS International will be providing [...]
TVS Motors makes moves in 2 wheeler EVs through investment in Ultraviolette Automotive
TVS Motor Company which has been an early backer of Ultraviolette, has made fresh investment in the company, along with Zoho Corporation. The investment was part of its latest round of Series C funding in order to support Ultraviolette’s vision of developing high performance mobility solutions for Indian and global markets. “EVs are a huge [...]
Gravita India starts new battery recycling unit in Guj; plans to invest Rs 62 cr
New Delhi, Dec 13 (PTI) Recycling firm Gravita India on Monday said it has operationalised its new battery recycling unit near Mundra Port in Gujarat and plans to invest a total of Rs 62 crore to enhance its overall capacity to 48,000 MTPA. In Phase-I, the plant has a capacity of 19,500 MTPA and the [...]
Zydus gets nod to conduct Phase II clinical study in patients with CAPS in Australia
New Delhi, Dec 13 (PTI) Drug firm Zydus Cadila on Monday said it has received approval to commence Phase II clinical study of its upcoming product with patients suffering with Cryopyrin-Associated Periodic Syndrome (CAPS) in Australia. The company has received permission to initiate the Phase II clinical study of its NLRP3 inhibitor 'ZYIL1' in patients [...]
Grofers rebrands itself as Blinkit
New Delhi, Dec 13 (PTI) Online grocery delivery platform Grofers on Monday said it is rebranding itself as 'Blinkit' to reflect its pivot to quick commerce. The Zomato and SoftBank-backed company had started its quick commerce service with a 10-minute delivery promise a few months ago. "A few months ago, we started on a journey [...]
Landbell Group and GreenForest Solutions Announce a Joint Venture in India
The new company Landbell GreenForest Solutions (GFS) offers: • Best-in-class extended producer responsibility (EPR) services for packaging waste • Recyclability services to brands with a final goal to help them move to fully recyclable packaging • Advisory services to city and state governments for better plastic waste management and EPR compliance within their jurisdiction MUMBAI, [...]
Kotak Mahindra Bank appoints Ashu Suyash as director
New Delhi, Dec 12 (PTI) Kotak Mahindra Bank has appointed Ashu Suyash as independent director of bank for a period of 5 years. The appointment is effective from January 24, 2022, up to January 23, 2027, the private sector lender said in a statement. Suyash was managing director of rating agency CRISIL, it said. The [...]
Gati Ltd looks to become Rs 3,000-cr company in 3 years
Mumbai, Dec 12 (PTI) Allcargo group firm Gati Ltd is looking to become a Rs 3,000-crore company in three years, driven by key accounts, micro, small and medium enterprises (MSMEs) and business-to-business (B2B) retail. It has identified three areas, including talent acquisition and building infrastructure, to achieve the target, its Chief Executive Officer Pirojshaw Sarkari [...]
Pumpkart, Figgital to open over 1,200 modern retail stores in UP
Chandigarh, Dec 12 (PTI) Online marketplaces Pumpkart.com and Figgital will open over 1,200 modern retail stores in Uttar Pradesh, according to a statement. Pumpkart and Figgital also establish 75 experience centres in all districts of the state. Both brands "are going to establish themselves in rural areas by bringing rural e-commerce on their platform", K [...]
Broadband may see tariff revision in near future: Meghbela Broadband co-founder
Kolkata, Dec 12 (PTI) The days of ultra-low telecom tariff are now over and the next in line is broadband as current rates are bleeding, an internet service provider said on Sunday. All the leading telecom majors have raised tariffs by 20 per cent from their respective levels stating the necessity to sustain the business. [...]
Franklin Templeton MF unitholders to get Rs 985 cr in eighth tranche
New Delhi, Dec 12 (PTI) SBI Funds Management (SBI MF) will distribute from Monday the eighth tranche of Rs 985 crore to unitholders of Franklin Templeton Mutual Fund's six shuttered schemes. After the payout, the total disbursement will reach to Rs 26,098.2 crore, amounting to 103.5 per cent of assets under management (AUM) as on [...]
Fino Payments Bank eyes 30-35 pc revenue growth over long term: MD Rishi Gupta
New Delhi, Dec 12 (PTI) The recently listed Fino Payments Bank has witnessed good growth across key parameters during the first half of the current fiscal year and is expecting to grow at about 30-35 per cent in terms of revenue on a long-term basis, its managing director and CEO Rishi Gupta said. Fino Payments [...]
Samco MF aims to mop up Rs 5000 crore from debut Flexi-fund NFO
Kolkata, Dec 12 (PTI) Samco Mutual Fund, the new kid in the Rs 37 lakh crore MF industry, plan to debut with flexi-cap fund on January 17, internally targeting to mop up Rs 5000 crore given the positive vibes it was receiving from investors and distributors, a top company official said. The fund will use [...]
MG Motor India exploring export opportunities in UK, South Africa
New Delhi, Dec 12 (PTI) MG Motor India is exploring export opportunities in the UK and South Africa besides drawing up plans to tap right-hand-drive countries in the global automotive market as it prepares for the long term to enhance overseas shipments from India, according to a top company official. The company, which has started [...]
SPIN Cycles plans to raise around USD 10 mn to fund pan-India expansion
New Delhi, Dec 12 (PTI) SPIN Cycles, a Bengaluru-based dry cleaning and laundry services start-up, plans to raise around USD 10 million (over Rs 75 crore) to fund its pan-India expansion within the next one to two years, according to a top company official. The firm, which is currently operating mainly in Bengaluru, is looking [...]
Lulu Group to invest Rs 2,000 cr to build shopping mall in Gujarat
New Delhi, Dec 11 (PTI) The UAE-based retail giant Lulu Group on Saturday announced it will invest Rs 2,000 crore to develop a shopping mall near Ahmedabad in Gujarat as part of its plans to expand business in India. The company has signed a Memorandum of Understanding (MoU) with the Gujarat government, it said in [...]
Meta, WhatsApp scout for chief compliance officer, nodal contact and grievance officer in India
New Delhi, Dec 11 (PTI) Meta (formerly Facebook) and WhatsApp are scouting for candidates for the roles of nodal contact and grievance officer as well as chief compliance officer — positions that have been mandated under India's IT rules for large social media companies. These positions are being advertised on LinkedIn, and have been posted [...]
S Krishnan appointed as additional director on Titan board, as TIDCO changes its nominee
New Delhi, Dec 11 (PTI) Leading watch and jewellery maker Titan's board has approved the appointment of S Krishnan, Additional Chief Secretary, Industries Department, Tamil Nadu Government as an additional director. His appointment has come in place of N Muruganandam, a nominee of the Tamil Nadu Industrial Development Corporation Limited (TIDCO) -- co-promoter of the [...]
Pathankot Mandi Highway Pvt Ltd achieves financial closure for highway upgrading project: IRB Infra
New Delhi, Dec 10 (PTI) IRB Infrastructure Developers Ltd on Friday said the company's wholly owned subsidiary Pathankot Mandi Highway Private Ltd has achieved financial closure for its Pathankot-Mandi hybrid annuity project. The project comprises rehabilitating and upgrading a 28.7-km stretch of National Highway 154. The financial closure was achieved at the bid project cost of [...]
Minda Industries forms JV with Germany’s FRIWO for manufacturing EV components
New Delhi, Dec 10 (PTI) Auto components maker Minda Industries Ltd (MIL) on Friday said it has entered into a joint venture agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. MIL, the flagship [...]
Montra brand to lead EV biz; TI Cycles
Chennai, Dec 10 (PTI) TI Cycles of India, part of the diversified conglomerate Murugappa Group, has firmed up plans in electric mobility space with its popular brand 'Montra' to lead the company's electric vehicle business, the company said on Friday. The city-based company said, as a first step it would launch -- under the Montra [...]
Cyril Amarchand Mangaldas goes global, enters Singapore
Mumbai, Dec 10 (PTI) Cyril Amarchand Mangaldas, the country's largest full-service law firm, has announced the opening of its first overseas office in Singapore as a licensed foreign law practice offering Indian law expertise, including international arbitration. The city-based law firm had recently entered the GIFT City in Gandhinagar and has six offices in the [...]
Tata Motors, Ducati to hike prices from January
New Delhi, Dec 10 (PTI) Tata Motors on Friday said it will hike prices of its entire passenger vehicle range from January in order to offset the impact of rising input costs. Similarly, luxury motorcycle brand Ducati said it will also hike prices across its product range from next month. "Prices of commodities, raw material, [...]
Zydus Cadila gets USFDA nod to market generic schizophrenia drug
New Delhi, Dec 10 (PTI) Drug firm Zydus Cadila on Friday said it has received approval from the US health regulator to market generic drug Cariprazine capsules, which are used in the treatment of schizophrenia. The company's subsidiary has received tentative approval from the US Food and Drug Administration (USFDA) for Cariprazine capsules in the [...]
PFC pays second interim dividend of Rs 369 cr to govt for 2021-22
New Delhi, Dec 10 (PTI) State-run Power Finance Corporation (PFC) said it has paid the second interim dividend of Rs 369.57 crore to the government for the 2021-22 fiscal. The second interim dividend at the rate of 25 per cent, that is Rs 2.50 per equity share of face value Rs 10 each, was declared [...]
Bimaplan Ties up With Credit Wise Capital to provide Easy Insurance with Two-Wheeler Loans
- The partnership will combine insurance and lending services under one roof for smart financing solutions MUMBAI, India, Dec. 10, 2021 /PRNewswire/ -- In an effort to bring affordable insurance to underserved communities, Bimaplan, an affordable insurance platform, has tied up with Credit Wise Capital (CWC), a consumer finance NBFC, for easy insurance on two-wheeler [...]
Patanjali provides free consultation in association with Yes Madam!
One of the biggest benchmarks of ‘Yes Madam’s’ success journey has been achieved as it proudly enters an exclusive partnership with ‘Patanjali.’ This is an amalgamation of at-home services and Ayurvedic treatments and therapies, to uplift customers’ moods, refresh their minds and heal them from all ailments, without even stepping out of their homes. ‘Yes [...]
DoT moves NCLAT against resolution of Videocon; claims Rs 881.92 cr due from Videocon Telecom
New Delhi, Dec 10 (PTI) The Department of Telecommunication (DoT) has moved the insolvency appellate tribunal NCLAT against the NCLT order approving the consolidated resolution plan for 13 companies of Videocon Group, including Videocon Telecommunications. The DoT, in its petition, has requested the appellate tribunal to set aside the order passed by the Mumbai bench [...]
Bajaj Electricals shares zoom 7% on board’s approval for corporate structure review
New Delhi, Dec 10 (PTI) Shares of Bajaj Electricals Ltd on Friday rallied over 7 per cent after its board approved a review of its corporate structure On the BSE, the shares spurted 7.35 per cent to close at Rs 1,123.6. Intra-day, it touched a high of Rs 1,159.95. On the NSE, the scrip ended [...]
MG Motor to commence exports of Hector to Nepal
New Delhi, Dec 10 (PTI) Automaker MG Motor India on Friday said it is all set to commence exports from its Halol-based manufacturing plant in Gujarat.The company will start exporting its SUV model Hector to Nepal as the first step towards its expansion plan for other south Asian countries.MG Motor began commercial production in India [...]
TVS Motor strengthens product portfolio in Philippines market
Chennai, Dec 10 (PTI) Two and three-wheeler maker TVS motor company on Friday announced the launch of its premium Apache RR 310 and 125 cc scooter TVS NTORQ in the Philippines market, boosting its product portfolio.The city-based company said it has launched TVS Apache RR310 with Race Tuned Fuel Injection and feature-rich connected scooter TVS [...]
UNGA grants Observer Status to International Solar Alliance
United Nations, Dec 10 (PTI) The UN General Assembly has conferred Observer Status to the International Solar Alliance (ISA), a historic decision which India said would help provide for a well-defined cooperation between the Alliance and the United Nations that would benefit global energy growth and development.The ISA was conceived as a joint effort by [...]
HarperCollins is proud to announce the launch of a new imprint HARPER DESIGN
NEW DELHI, Dec. 10, 2021 /PRNewswire/ -- HarperCollins today announced the launch of a new imprint, HARPER DESIGN, which will focus on all areas of Design, the Arts, Architecture, Lifestyle and Popular Culture. At HARPER DESIGN, we believe that design should be an inclusive playground of ideas, stories, and creative expression. Designers are storytellers who [...]
Lupin announces launch of its diagnostics business
New Delhi, Dec 10 (PTI) Homegrown pharma major Lupin Ltd on Friday announced the launch of its diagnostics arm as part of its strategy to provide integrated healthcare in India. Lupin Diagnostics, a wholly-owned subsidiary of the company, has formally commenced operations in the country, Lupin said in a regulatory filing. The company said it [...]
Shiprocket inks pacts for USD 185 mln-funding round, co-led by Zomato, Temasek, Lightrock India
Mumbai, Dec 10 (PTI) E-commerce logistics firm Shiprocket said on Friday it has signed definitive agreements for a USD 185 million (Rs 1,380 crore) Series E funding round, which is being co-led by Zomato, Temasek and Lightrock India. The freshly infused capital would be deployed towards core product expansion, research and development, talent acquisition, and [...]
RBI grants approval to LIC to up stake in IndusInd Bank to nearly 10%
Private bank IndusInd Bank on Friday said the RBI has given approval to LIC to up stake in the bank to nearly 10 per cent. The RBI norms mandate that every person or an entity who intends to make an acquisition in private banks of more than 5% stake, has to take prior approval from [...]
Zorro – A pseudonymous social network, raises $3.2Mn in seed round, backed by 16 Unicorn founders
Gurugram, Haryana, India – Business Wire India Zorro, a pseudonymous social network has raised $3.2 million in seed round by Vijay Shekhar Sharma (Founder & CEO, Paytm), Ritesh Agarwal (Founder & CEO, OYO Rooms), Ashish Hemrajani (Founder & CEO, BookMyShow), Kunal Shah (Founder & CEO, CRED), Ankiti Bose (Founder & CEO, Zilingo), Ashneer Grover (Founder [...]
Frequently Asked Questions
1. What are Corporate Actions?
When a public corporation issues a corporate action, it is accomplishing something that will influence its stock price. In case you’re an investor or thinking about purchasing shares of an organization, you will have to understand how it can affect the stock price of the company. A corporate action can likewise let you know a lot about an organization’s monetary wellbeing and its short-term future.
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Corporate action section on Trade Brains News is designed to alert you of the upcoming dividends, splits, bonuses, mergers, acquisitions and more so that you stay ahead of the crowd with Trade Brains News.
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Dividends are the profits that a company shares with its shareholders as decided by the board of directors.
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Corporate action on Trade Brains News provides you with information on all the upcoming corporate actions announced by the company so that you can make a strategic plan to enter or exit the company. Corporate Actions can affect the share price in a good way or a bad way.