TVS Motor
TVS Motor Company said it will acquire a 48.27% stake in Narain Karthikeyan’s pre-owned two-wheeler startup ‘DriveX’ for a consideration of Rs 85 crore. NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL) operates under the brand name DriveX’, through primary and secondary investments. Founded by Formula 1 driver Karthikeyan, DriveX is into the leasing of two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters.
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Lupin
The pharmaceutical company said it has received approval from the US Food and Drug Administration (USFDA) for the Formoterol Fumarate Inhalation Solution, used in treating symptoms of chronic obstructive pulmonary disease. The product is a generic version of Mylan Specialty’s Perforomist Inhalation Solution, the Mumbai-based drug maker said in a statement.
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NHPC
State-run NHPC Ltd announced the signing of a Memorandum of Understanding (MoU) between its subsidiary and the Rajasthan government to develop renewable energy parks with a capacity of 10 gigawatts (GW) in Rajasthan. The ultra-mega renewable energy power parks (UMREPP) will be developed by NHPC Renewable Energy Limited (NHPC REL). The projects are to be developed either on EPC or developer mode.
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Wipro
The IT services provider announced the appointment of Wagner Jesus as Country Head and Managing Director for operations in Brazil. Jesus joined Wipro three years prior, taking the lead of the non-financial business cluster.
Bandhan Bank
The lender will open 551 more branches in the financial year 2022-23, as a part of its plans to make its distribution stronger in other parts of India outside the eastern region, MD & CEO Chandra Sekhar Ghosh said. With the latest addition, the Kolkata-based bank’s branch count will exceed 6,000, he added.
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Omaxe Limited
The realty firm has bagged a project from the Delhi Development Authority (DDA) to develop a sports complex and retail project at Dwarka in the national capital at a cost of Rs 2,100 crore. Omaxe has secured this 50-acre project from DDA under the “Design Build Finance and Operate” model. It will develop both outdoor and indoor sports facilities. The total investment is estimated at around Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on the sports complex and the rest in the retail area.
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Future Lifestyle Fashions
Investor PI Opportunities Fund I offloaded 6.24 lakh equity shares or 0.31% stake in the company through open market transactions. With this, its shareholding in the company decreased to 2.76%, from 3.07% earlier.
PSP Projects
The company has secured contracts worth Rs 247.35 crore from precast and government segments. With this, the total order inflow for the current financial year 2022-23 stands at Rs 1,344.24 crore.
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Indian Metals & Ferro Alloys
Investor Fox Consulting Services Pte Ltd sold a 0.02% stake in the company through open market transactions on August 19. With this, its shareholding in the company decreased to 6.35%, from 6.37% earlier.
