Veranda Learning Solutions 

The learning solutions provider has acquired T.I.M.E. (Advanced Educational Activities Pvt Ltd), the leading test-prep institute with a pan-India presence operating through 188 centres. The company bought T. I. M. E. for Rs 287 crore.

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Quarterly Results on April 26

Bajaj Finance, HDFC Life Insurance Company, Aditya Birla Sun Life AMC, KPIT Technologies, Macrotech Developers, Mahindra Logistics, Nippon Life India Asset Management, NELCO, Atul, AU Small Finance Bank, Gateway Distriparks, IIFL Securities, Sanofi India, Schaeffler India, Som Distilleries & Breweries, Tata Coffee, Tata Teleservices (Maharashtra), United Breweries, UTI Asset Management Company, VST Industries, D-Link (India), International Travel House, Gujarat Hotels, Jindal Hotels, JK Agri Genetics, and Jumbo Bag are slated to release their quarterly earnings on April 26.

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Shriram Transport Finance Company

The company has raised Rs 100 crore through the allotment of senior secured rated, listed, redeemable, Non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each on a private placement basis.

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Lemon Tree Hotels 

The company has signed a License Agreement for a 60 room hotel at Kharar, near Chandigarh under the brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by November 2025. Its subsidiary Carnation Hotels will be operating and marketing this hotel.

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SBI Card | TCS

SBI Cards and Payment Services (SBI Card) has signed a deal with Tata Consultancy Services (TCS). The deal will help digitalise and transform the online onboarding processes of customers for SBI Card and will further enable the client to expand its e-card issuance.

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Mahindra CIE Automotive 

Profit in the quarter ended March 2022 grew by 1,499% year-on-year to Rs 161.43 crore due to lower tax expenses and higher revenue growth. Topline increased 18.2% to Rs 2,588.4 crore compared to the corresponding period last fiscal.

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Mindtree and Sapiens International Corporation have entered into a partnership to help insurance companies drive digital transformation. 

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Aarti Industries 

Life Insurance Corporation of India acquired additional 2.24 lakh equity shares in the company via open market transactions on April 22. With this, LIC’s stake in the company stands increased to 5.03%, up from 4.97% earlier.

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Eveready Industries India Limited

The company reported a consolidated net loss of Rs 38.31 crore in the March quarter of fiscal 2022. The company has reported a net loss of Rs 442.53 crore in the March quarter of the previous financial year.

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Gujarat Mineral Development Corporation

The company recorded a consolidated profit of Rs 177 crore for the quarter ended March 2022, against a loss of Rs 184.64 crore in the same period last year, driven by topline. Revenue grew by 87% year-on-year to Rs 1,057.3 crore in the same period.

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Yes Bank | Zee Learn

Yes Bank has initiated insolvency proceedings against Zee Learn alleging a default on a financial facility worth Rs. 468 crores.

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The Ruby Mills 

The company has repaid its entire term loans and all unsecured loans of Rs 145 crore.

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Bank of India (BoI) 

The bank said it will raise up to Rs 2,500 crore by issuing fresh equity shares in order to comply with the minimum public shareholding requirement of 25%.

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Tatva Chintan Pharma Chem

The company reported a 17% year-on-year decline in profit at Rs 17.51 crore for March 2022 quarter, dented by lower topline and operating income. Revenue fell 9.3% to Rs 98.53 crore during the same period, with margin declining 200 bps YoY.