HDFC
Housing Finance Development Corporations Limited said it
will raise the Retail Prime Lending Rate on housing loans by 50 basis points
from June 10, 2022. “HDFC increases its Retail Prime Lending Rate (RPLR)
on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are
benchmarked, by 50 basis points, with effect from June 10, 2022,” the
mortgage lender said in a stock exchange filing.
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Bajaj Auto
In a BSE filing, the two-wheeler maker said that the
Board of Directors will meet on June 14 to consider a proposal for the buyback
of fully paid-up equity shares of the company. The company last went for such a move in 2000, when
shareholders approved the buyback of up to 18 million equity shares at a price
of Rs 400 each. The company has paid dividend to shareholders since
financial year 2007-08, with the amount increasing each year, from Rs 20 per
share in fiscal 2008 to Rs 140 at the end of fiscal 2022. Its aggregate
dividend payout during the same period has risen from Rs 289 crore to Rs 4,051
crore at the end of fiscal 2022, according to data from Capitaline.
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Dr Reddy’s Laboratories
The subsidiary Aurigene Discovery Technologies has signed
an exclusive Collaboration and License Agreement with Nasdaq-listed Olema
Pharmaceuticals to discover and develop novel cancer therapies. According to
the agreement, Olema will make an upfront licensing payment of $8 million for
rights to a pre-existing Aurigene program. Aurigene will be eligible for up to
$60 million in potential clinical development and regulatory milestones and up
to $370 million in potential commercial milestones, as well as royalties
ranging from the mid-single digits to the low double digits based on annual net
sales.
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HFCL
The company has bagged orders worth Rs 73.39 crore
comprising Rs 51.09 crore from one of the leading private telecom operators of
the country for the supply of UBRs (unlicensed band radio) along with
accessories. An order worth Rs 22.30 crore has been received from one of the
leading EPC players in India for the supply of optical fibre cables.
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GMR Infrastructure
DVI Fund Mauritius Limited, a public shareholder of GMR
Infrastructure, sold a 3.3% stake in the airport handling company for Rs 720
crore through the open market transaction. As of March 2022, DVI Fund Mauritius
Ltd held a 7.76% stake in the company, according to stock exchange data.
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Butterfly Gandhimathi Appliances
Crompton Greaves Consumer Electricals acquired a 26%
stake in the company through an open offer on June 8. With this, its stake in
the company now stands at 81%, up from 55% earlier.
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Sona BLW Precision Forgings
In an exchange filing, the company said that the Board
has re-appointed Vivek Vikram Singh as the Managing Director and Group CEO of
the company for a period of five years starting from July 5, 2022, to July 4,
2027. This is subject to the approval of the shareholders.
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Asian Granito India
In an exchange filing, the company said that the board
has appointed Mehul Shah as the new Chief Financial Officer of the company with
effect from June 10. He will replace Amarendra Kumar Gupta, who has resigned
from the statutory position of Chief Financial Officer.
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Oriental Aromatics
The company’s subsidiary Oriental Aromatics & Sons
have received environmental clearance for its proposed greenfield project for
manufacturing of speciality chemicals & chemical intermediates, at
additional MIDC Mahad, Maharashtra.
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Kiri Industries
LGOF Global Opportunities sold 6,901 equity shares in the
company via open market transactions on June 7. With this, its stake in the
company stands decreased to 5.99%, down from 6.012% earlier.
