Tata Steel Long Products
The government signed a share purchase agreement with Tata Steel Long Products for selling debt-ridden Neelachal Ispat Nigam Ltd (NINL) for Rs 12,100 crore.
MMTC
The company has executed the Share Purchase Agreement and Escrow Agreement for the sale of its entire equity holding in Neelachal Ispat Nigam (NINL) to Tata Steel Long Products (TSLP). TSLP has been selected as a successful bidder through the two-stage auction procedure, run under the aegis of DIPAM, GOI.
Smartlink Holdings
The company has received approval from the board of directors for the acquisition of 1,05,00,000 Equity Shares aggregating up to Rs 10.50 crore in Synegra EMS a wholly-owned subsidiary of the Company, in one or more tranches.
Futures Consumer
Future Consumer said it has agreed with Fonterra Co-operative Group to wind down 50:50 joint venture – Fonterra Future Dairy. The joint venture was established in 2018.
Tata Power
The company has collaborated with Enviro – the facility management wing of the NCR-based real estate developer Vatika Group to install 59 EV charging points at its properties across Gurugram, Haryana.
Supreme Petrochem
The board has approved Phase II expansion of its expandable polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA. Board also approved setting of the second line of extruded polystyrene board (XPS), and increasing the Masterbatch and Compounds capacity. The capital cost for these capital expenditure schemes will be met from the company’s internal accruals.
Wipro
The company has entered into a long-term partnership with Pandorum Technologies. Together, the companies will focus on the development of technologies that shorten time-to-market and maximize patient outcomes during R&D and clinical trials of regenerative medicine. The partnership combines the Artificial Intelligence (AI) capabilities of Wipro Holmes with Pandorum’s expertise in regenerative medicine.
Kirloskar Ferrous Industries | ISMT
The board has allotted 15.4 crore equity shares of ISMT at a price of Rs 30.95 per share, to Kirloskar Ferrous Industries for Rs 476.63 crore. With this, Kirloskar Ferrous Industries has acquired a controlling interest and holds a 51.25% stake in ISMT. Kirloskar Ferrous Industries has been classified as the promoter with sole control of ISMT.
Future Retail
Reliance Industries’ subsidiary — Reliance Retail has terminated sub-leases of 950 stores of Future Retail. Earlier, Reliance Retail had taken over store spaces for which the Future Group couldn’t pay lease rent.
Aavas Financiers
UK’s development finance institution CDC Group invested Rs 360 crore in a Social Bond program by the company. The investment will be made in the form of rupee-denominated bonds (Masala Bonds) and will be listed as a social bond, in alignment with the International Capital Market Association’s Social Bond Principles. The proceeds of the bonds will be used to finance the women-owned property loan portfolio, with an aim to address gender inequity in asset ownership, in India.
Exide Industries
The company has entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. (SVOLT).
Shipping Corporation of India
Life Insurance Corporation of India sold a 2% equity stake in the company via open market transactions. With this, LIC’s shareholding in the company stands at 6.03%, down from 8.04% earlier.
Stove Kraft
The company’s managing director Rajendra Gandhi has bought company shares worth Rs 50 crore through an open market transaction. According to the bulk deal data on BSE, he purchased 7.75 lakh shares at an average price of Rs 645 apiece.
Britannia Industries
Life Insurance Corporation acquired a 1.2 lakh share in the company via open market transactions on March 9. With this, its shareholding stands at 5.02%, up from 4.97% earlier.
