Adani Enterprises

Adani Enterprises, Chettinad Logistics, and Mohit Minerals
are among the 11 coal importers to have shown interest in the bidding for the tender issued by national miner Coal India (CIL). Recently,
state-owned NTPC awarded 6.25 million tonnes (mt) of imported coal tender worth
Rs 8,300 crore to Adani Enterprises. CIL issued a tender for purchasing
imported coal for power-generating companies (gencos) after the Centre directed
it to meet the shortfall in the domestic coal supply chain. CIL has called for
bids to supply 2.4 mt of coal to be delivered for the July to September 2022
period. The estimated value of the contract is Rs 3,100 crore, CIL said in the
tender document.

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Jain Irrigation

In a move to cut consolidated debt, Jain Irrigation Systems
Ltd (JISL) will merge its International Irrigation Business (IIB) with
Temasek-owned Rivulis Pte Ltd. The cash proceeds will be used to pay off Rs
2,700 crore of overseas debt. IIB’s enterprise value is fixed at Rs 4,200
crore. After the transaction, Jain irrigation will hold 22% (valued at Rs 1,300
crore) in Rivulis. Around Rs 2,700 crore will be used to pay off overseas debt
and Rs 200 crore will be used to settle receivables, said Anil Jain, Managing
Director of Jain Irrigation.

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Hindustan Motors

CK Birla Group firm, Hindustan Motors Ltd said it has
agreed to sell its ‘Contessa’ brand to SG Corporate Mobility Pvt Ltd for an
undisclosed amount. The company has executed a brand transfer agreement with SG
Corporate Mobility on June 16, 2022, for the transfer of the Contessa brand,
including the trademarks having application numbers and certain related rights
of the brand, the company said in a regulatory filing.

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Hero MotoCorp

The two-wheeler manufacturer launched Euro-5 compliant
variants of its three globally popular products (Xpulse 200 4V motorcycle and
Dash 110 & Dash 125 scooters), in Turkiye. Hero MotoCorp has been operating
in Turkiye since 2014 and caters to its customers through a network of more
than 100 touchpoints, which provide sales, service, and spares.

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Astral

The company has subscribed to Optionally Convertible
Debentures of Rs 194 crore allotted by Gem Paints. It has appointed majority
directors on the board of Gem Paints and Esha Paints. Accordingly, Gem Paints
and Esha Paints have become a subsidiary and step-down subsidiary of the
company respectively.

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SIEL Financial Services

The company has appointed Deepak Kumar Rustagi is appointed
as Chief Financial Officer (CFO) and key managerial personnel (KMP) with effect
from March 17. Ram Jeevan Chaudhary will be relieved from his responsibilities
as Chief Financial Officer.  

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Greenlam Industries

The company has signed a share subscription agreement with
Smiti Holding and Trading Company for the allotment of up to 63.1 lakh equity
shares at Rs 309 per share. Smiti Holding is an investor and will receive
shares on a preferential basis.

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Filatex India

CARE ratings revised its credit rating on the company’s
long-term bank facilities to A+, from ‘A’, with a stable outlook.

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Generic Engineering Construction and Projects

CRISIL has reasserted its long-term rating on the company’s
bank loan facilities as BBB with a stable outlook and short-term rating as A3+.