Titan Company
The Tata Group firm said its sales in the April-June
quarter were up nearly three-fold on a year-on-year basis, on the back of the
low base of the Covid-19 impacted quarter in the last year. “Sales in
Q1FY23 grew 205% YoY on a low base and clocked 3-year CAGR of 20.5% over
Q1FY20,” Titan said. Its jewelry division, which contributes nearly 85% of
its revenue, reported 207% growth and added 19 new stores during the quarter,
taking the total count to 463.
Also Read | What are the Digital Market and Digital Services Acts?
Reliance Industries
Reliance Retail has signed a franchise agreement with Gap
Inc to bring back the American fashion brand to India. Gap will return to India
the second time after parting ways with Arvind Fashions in 2020. Reliance
Retail will be the official retailer for the fashion house in India, mixing exclusive
stores and digital commerce platforms.
Also Read | How To Survive A Market Crash
Piramal Enterprises
Ajay Piramal-owned Piramal Enterprises has received
shareholders’ approval to demerge its pharmaceuticals business and simplify the
corporate structure. The demerger will divide the company into two focused
entities —financial services and pharmaceuticals.
Also Read | Great Depression to COVID: Top 5 market crashes in American history
Power Grid Corporation of India
The board of state-owned Power Grid Corporation of India
Ltd (PGCIL) approved two proposals to raise Rs 11,000 crore through the
issuance of bonds and term loans. The company is looking to raise Rs 6,000
crore from the domestic market through the issue of secured/unsecured,
non-convertible, non-cumulative/cumulative, redeemable, taxable/tax-free
debentures/bonds under private placement during the financial year 2023-24 in
up to twenty tranches/offers. The remaining Rs 5,000 crore will be raised
through rupee term loans from commercial banks to meet capital expenditure
requirements.
Also Read | European Union makes historic tech ruling, enforcement worries remain
Shriram Transport Finance Company
The country’s largest commercial vehicle financer has got
approval from equity shareholders and creditors for the company’s merger with
Shriram City Union Finance (SCUF).
Also Read | ED summons CoinDCX, Coinswitch Kuber to probe FEMA violations: report
Macrotech Developers
Realty firm Macrotech Developers reported a nearly
three-fold jump annually in its sales bookings at Rs 2,814 crore in the
April-June quarter of this fiscal on strong demand for its residential
properties. The company which sells its properties under the Lodha brand has
reported pre-sales of Rs 2,814 crore during the first quarter of fiscal
2022-23, showing a robust increase of 194% from the year-ago period.
Also Read | Bajaj Finance share rises over 3% after reporting 60.9% growth in new loans
Veljan Denson
The company has signed a special purchase agreement to buy
a 100% stake in Adan Holdings, for 1.4 million pounds. Adan holds a stake in hydraulics and
engineering companies in the UK. The said acquisition will be completed by
August 2022.
Also Read | United States on brink of recession, say analysts; White House still hopeful
Equitas Small Finance Bank
The small finance bank reported a 22% growth in gross
advances at Rs 21,699 crore in the April-June quarter of the financial year
2022-23. On a sequential basis, the gross advances increased by 5%. Deposits
grew 19% yearly and 8% quarterly at Rs 20,386 crore.
Also Read | US inflation rate at a 40-year high | A timeline: 1930-2022
Deep Industries
The company has received a Letter of Awards from ONGC, for
charter hiring of 1000 HP mobile drilling rigs for Ahmedabad assets for a
period of 3 years. The total estimated value of the said awards is Rs 150.24
crore ($19.02 million).
Also Read | ‘Marshall Plan’ for Ukraine? Assessing damages and reconstruction costs
PBA Infrastructure
The company board has approved the voluntary delisting of equity
shares of the company from NSE, but equity shares would remain to be listed on
the BSE.
East-West Holdings
The company has signed a Share Purchase Agreement with
Unique Airfreight Express and Logistics Private Limited. It will acquire a
37.5% stake in Unique Airfreight Express in the first tranche and the remaining
62.5% stake will be acquired within a period of 1 year. The cost of acquisition
is Rs 4 crore.
Also Read | Customer shocks internet by comparing online food bill to offline order
Titagarh Wagons
HDFC Asset Management Company offloaded 25.7 lakh shares or
a 2.15% stake in the company through open market transactions on July 4. With
this, HDFC AMC’s stake in the company stands reduced at 7.02%, from 9.17%
earlier.
Also Read | Explained: Why are tech companies laying off thousands of employees
City Union Bank
The bank’s board of directors gave its approval for raising
further capital through the QIP route to the tune of Rs 500 crore subject to
shareholder approval.
