Reliance Industries Limited (RIL)

Reliance Retail Ventures Ltd, the retail arm of the Mukesh Ambani-led conglomerate RIL, on March 1 announced an investment in 30-year-old designer brand Abraham & Thakore (A&T) for a “majority stake”. 

Union Bank of India 

The bank has considered the issuance of Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Additional Tier-1 Capital (Bonds) Series XXXIV of Rs 500 crore with Green Shoe Option up to Rs 1000 crore (maximum Rs 1500 crore) on Private Placement basis. It will allot the bonds on March 02, 2022. The bonds carry a coupon rate of 8.50 per cent per annum.  

Route Mobile 

Its subsidiary Routesms Solutions FZE (RSL FZE) has successfully completed the acquisition of MR Messaging FZE, based in the United Arab Emirates. With this, MR Messaging has become a wholly-owned subsidiary of RSL FZE and a stepdown subsidiary of Route Mobile.

Shish Industries 

The company has received approval from the board of directors for investment in GreenEnergy International INC., formed in accordance with the law of the state of Texas, USA, making it a wholly-owned subsidiary of the Company.

Panacea Biotec 

The company will sell the pharmaceutical formulations brands of its subsidiary to Mankind Pharma. The total value of the transaction is Rs 1,872 crore. The company and its material subsidiary Panacea Biotec Pharma (PBPL) have entered into definitive agreements for the transaction. This stake sale is in line with the company’s strategic plan to become debt-free and focus on exports of pharmaceutical formulations in the US and other international markets besides the vaccine business in global markets.

Capital Trade Links

The company has entered into an agreement with Creditech Technology, which will provide an app-based platform to facilitate financial assistance for its customers through the company.

DB Realty 

The Supreme Court has allowed the real estate company to develop land in Mumbai. The decision makes freehold 22,000 square meters in a commercial zone in Mumbai available to its subsidiary Esteem Properties for development. The company intends to develop the land into a 2 million square feet (leasable area) Grade A office space over the next three years.

Piramal Enterprises

The company’s administrative committee of its board of directors has approved raising up to Rs 500 crore through the issue of non-convertible debentures on a private placement basis. The committee at its meeting approved the issue of non-convertible debentures (NCDs) of up to Rs 100 crore along with an option to retain over subscription of up to Rs 400 crore, aggregating up to Rs 500 crore.

Vedant Fashions 

Ethnic wear brand Manyavar operator clocked healthy 24.1 % year-on-year growth in consolidated profit at Rs 127.8 crore on strong sales and operating income in the quarter ended December 2021. Revenue grew by 28 % year-on-year to Rs 384.8 crore. The company registered a 24.5 % YoY growth in EBITDA at Rs 191.5 crore for the quarter.

Indiamart Intermesh

The company’s wholly-owned subsidiary–Tradezeal Online has invested approximately Rs 13.75 crore in Adansa Solutions.  As part of the transaction, The company has agreed to acquire shares via a mix of primary and secondary share purchases, and its final shareholding post the round shall stand at 26.01%.

Huhtamaki India 

The packaging solutions firm posted a loss of Rs 13.52 crore for the December 2021 quarter against a profit of Rs 5.08 crore in the corresponding period of the last fiscal. But the topline grew nearly 19 % year-on-year to Rs 661.6 crore in Q4CY21.

Sterlite Technologies (STL)

The company has entered into collaboration with Analog Devices, Inc. to develop 5G Open RAN radio units (O-RU). Together, the two companies will build 5G-ready solutions to expand the diversity of commercially available O-RUs and facilitate the growth of Open RAN networks.

Vipul Organics 

The speciality chemicals company has recommended bonus equity shares for its shareholders and an employee stock options scheme for its employees in the 50th year of its operations. The company will issue one bonus share for every four shares held by shareholders and also issue 2 lakh options to eligible employees.

Bank of Baroda (BoB) 

The bank has reportedly increased deposits rates, including for domestic and non-resident ordinary (NRO) term deposits, by 10-45 basis points on select maturities with effect from February 25, 2022. In the case of domestic and NRO term deposits below Rs 2 crore, the interest rate has been increased by 10 basis points — one year (5 per cent against 4.90 per cent earlier); and above one year and up to 2 years (5.10 per cent against 5 per cent).

Lemon Tree Hotels 

The company has signed a license agreement for a 41 room hotel at Mukteshwar, Uttarakhand. The hotel is expected to be operational in July 2022. The hotel is owned by The Alpine Chalet Resort. Its subsidiary Carnation Hotels and the hotel management arm will be operating and marketing this hotel.