Deepak Nitrite
ICRA has upgraded the long term rating from ‘AA-‘ to ‘AA’, and re-affirmed the short term rating at ‘A1+’ for Rs 756.27 crore bank facilities of Deepak Phenolics, a wholly-owned subsidiary of the company. The outlook on the long-term rating has been revised to Positive from Stable.
Infosys
The company has been recognized by Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2022 World’s Most Ethical Companies, for the second consecutive year.
REC
The company approved the market borrowing programme of Rs 85,000 crore under different debt segments for the financial year 2022-23.
Avantel
The company has received an order for an amount of $13,66,000 from Lockheed Martin Corporation for the supply of Satcom Equipment. Earlier, the company had received the supply order for the supply of Loco devices for the implementation of RTIS phase — 2 (Real-Time Train Information system). The company had bagged an order for an amount of Rs 125.68 crore exclusive of applicable taxes.
Equitas Small Finance Bank
The board has approved a Scheme of Amalgamation between Equitas Holdings and Equitas Small Finance Bank.
CyberMedia
The company has received approval to sell up to 3,72,000 equity shares (of the face value of Rs 10 each) out of the company’s total holding of 14,89,600 equity shares in CyberMedia Research & Services (CMRSL) under the proposed IPO of CMRSL
Godawari Power & Ispat
The company has signed a Share Purchase Agreement with Hira infra-Tek (HITL) to acquire 44,54,621 equity shares of Hira Ferro Alloys (HFAL) from HITL at a price of Rs 224 per share. With this, the company’s stake in HFAL will be increased from 56.45% to 75.66%.
SMS Pharmaceuticals
The company has received a non-exclusive licence to manufacture and supply nirmatrelvir through the Medicine Patent Pool to manufacture nirmatrelvir, an oral anti-viral COVID-19 medicine developed by Pfizer to increase broad access to treatment in 95 low and middle-income countries.
NHPC
Life Insurance Corporation of India sold a 2.03% stake in the company via open market transactions. With this, LIC’s stake in the power generation company stands at 7.23%, down from 9.26% earlier.
Inflame Appliances
The company has received a trial order for 900 Chimneys from Flipkart India. Earlier, the company had received a trial order for approximately 3100 chimneys from Tuareg Marketing.
Larsen & Toubro
The board on March 24 will seek approval for raising funds including through the issue of debt securities as part of the company’s refinancing programme.
KEC International
The company has secured new orders of Rs 1,005 crore across its various businesses. Transmission & Distribution (T&D) has secured orders for the supply of towers and poles in the Americas.
Shankara Building Products & APL Apollo Tubes
APL Apollo Tubes announced a minority equity investment by its subsidiary APL Apollo Mart in Shankara Building Products. The investment will be through a combination of purchase of secondary promoter shares and proposed preferential allotment of convertible warrants. Total investment by APL Apollo Mart in Shankara Building Products will be up to Rs 180.5 crore including an immediate investment of Rs 101.8 crore.
