Vodafone Idea
The telecom operator said the board has approved fundraising of Rs 4,500 crore on a preferential basis, through its promoters. It has decided to issue more than 338.3 crore equity shares at an issue price of Rs 13.30 per share to Euro Pacific Securities, Prime Metals, and Oriana Investments Pte Ltd. The company has also received board approval for additional fundraising of Rs 10,000 crore via private placement or qualified institutions placement.
PTC India
The Securities and Exchange Board of India (SEBI) has denied permission to PTC India Financial Services (PFS) to hold a board meeting without independent directors
SJVN
The state-owned hydroelectric power generation company has achieved financial closure for its 210 MW Luhri-1 hydroelectric project in Himachal Pradesh and 75 MW Parasaran solar power project in Uttar Pradesh. State Bank of India will provide Rs 1,537 crore, and Punjab National Bank, Dubai will provide Rs 319.04 crore for Luhri HEP and Parasaran Projects respectively.
Eveready Industries India Ltd
The company on Thursday said its Non-Executive Chairman Aditya Khaitan and Managing Director Amritanshu Khaitan have resigned following an open offer from the Burman group.
Maruti Suzuki India
The company has reported a marginal drop in total wholesales at 1,64,056 units in February. The company had sold 1,64,469 units in February 2021. Last month, the company’s domestic sales slipped 8.46 per cent to 1,40,035 units as against 1,52,983 units in February 2021.
Gabriel India
HDFC Asset Management Company through its schemes acquired an additional 2.13% stake via open market transactions on March 2. With this, its shareholding in the company stands at 9.17% now, against 7.04% earlier.
Lupin
The company has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Efinaconazole Topical Solution, 10% to market a generic equivalent of Jublia Topical Solution, 10%, of Bausch Health Americas, Inc.
Themis Medicare
The company has received approval for its immunomodulatory antiviral drug Viralex from the Drug Controller General of India. The drug will be used for the treatment of COVID-19.
State Bank of India (SBI)
The bank has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow’s invasion of Ukraine.
LT Foods
The consumer food company said its subsidiary LT Foods Americans Inc acquired a 51% stake in Golden Star Trading Inc along with its brand Golden Star. It also has a call option to further buy the remaining 49% stake at the end of three years.
Torrent Power
The company has raised Rs 250 crore through Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, Non-Convertible Debentures (NCDs) and allotted 2,500 NCDs of Rs 10 lakh each on a private placement basis.
Mahindra & Mahindra Financial Services
The firm has disbursed approximately Rs 2,733 crore of loans in February 2022, registering a 44% YoY growth. The year-to-date total disbursement was Rs 23,632 crore, a growth of 42% over the same period last year. The collection efficiency remained stable at 98% for the month of February YoY. Asset quality has seen improvement due to positive trends in collections. The company is confident of meeting its commitment to bring the net Stage 3 below 4% by year-end.
IndiaMART InterMESH
The company has entered into an agreement to acquire 10% of share capital (on a fully diluted basis) of Zimyo Consulting.
UPL
The company has planned to transfer its entire holding of 49.98% in the equity share capital of its subsidiary viz. Agri Net Solutions (ANSL).
Coal India
The company’s subsidiary — Northern Coalfields is set to cross its production target of 119 million tonnes for the current fiscal, and the aim of making a capital expenditure of Rs 1,640 crore remains on track.
