GAIL
India's largest gas firm on Thursday said the company has released payment to all stakeholders of insolvent private sector chemical company JBF Petrochemicals Ltd and has completed the corporate insolvency resolution process in 15 months. The company, in an exchange filing, said the transaction closure of JBF Petrochemicals is one of the fastest in the history of NCLT in the post-COVID period.
SpiceJet
Indian budget airline on Thursday partnered with FTAI Aviation on a CFM56 revitalisation program. FTAI Aviation which is an aftermarket provider of engine services will provide SpiceJet with up to twenty engines for lease, inclusive of maintenance services. The first engines will be used to re-activate SpiceJet's fleet in the upcoming 2-3 months.
Hero MotoCorp
Hero MotoCorp and Harley Davidson could consider the local assembly of Harley motorcycles in India and even export them to global markets. Speaking to CNBC-TV18, the new Hero MotoCorp CEO Niranjan Gupta said that both companies continue to talk about future platforms and collaborations.
Kotak Mahindra Bank
Canada Pension Fund is looking to sell 3.3 crore shares, representing a 1.6 percent stake in private lender Kotak Mahindra Bank, for $750 million through a block deal on Friday (June 9), sources privy to the developments told CNBC-TV18. The fund is selling at a price band of Rs 1,792-1,886 per share, which is up to a 5 percent discount to the current market price (CMP).
Punjab National Bank
State-owned bank has proposed to raise funds from the sale of up to 15 crore shares under its Employee Stock Purchase Scheme (ESPS). At the current market price, PNB would raise up to Rs 780 crore from the scheme. The bank proposes to issue and allot up to 15 crore new equity shares of the face value of Rs 2 each, ranking pari passu with the existing equity shares for all purposes and in all respects, including payment of dividend, under an ESPS in one or more tranches.
Aether Industries
The company on Thursday inked a license agreement with Saudi Aramco Technologies Company for the commercialisation of the sustainable converge polyols technology. The agreement formally initiates Aether's activities towards the manufacturing and commercialisation at Aether of the Converge polyols technology and product series.
Biocon
The company's Bengaluru Active Pharmaceutical Ingredient manufacturing facility received the GMP Compliance Certificate from Competent Authority Of Germany. The facility went under EU GMP inspection in February this year.
CCL Products
India's largest instant coffee manufacturer on Thursday said it has acquired six coffee brands, including Percol, from Sweden-based coffee roasters Lofbergs Group. In a deal estimated to be around 550,000 British Pound (Rs 5.68 crore), CCL has acquired six brands -- Percol, Rocket Fuel, Plantation Wharf, The London Blend, Perk Up and Percol Fusion -- from Food Brands Group, a subsidiary of Lofbergs Group.
HAL
The board of directors of Hindustan Aeronautics Ltd (HAL) on Thursday said it will meet on June 27 to consider a proposal for a sub-division of equity shares of the company. "A meeting of the Board of Directors of the company will be held on June 27, to consider a proposal of sub-division of equity shares of the company," the company said in a filing.
Vedanta Resources
The company on Thursday said it generated an EBITDA of $4.6 billion and a pre-capex free cash flow of $2.8 billion during the financial year 2022-23. While the EBITDA (earnings before interest, taxes, depreciation and amortization) in FY23 was its second highest, the pre-capex cash flow was its all-time high, the company said in a statement.
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Allcargo Logistics
The largest integrated player in the private sector on Wednesday said its subsidiary Transindia Real Estate Ltd, is selling the Jhajjar logistics park and 10 percent in other parks to global private equity giant Blackstone. The logistics park in Jhajjar will be sold at an enterprise value of approximately Rs 625 crore, the company said in an exchange filing.
Sula Vineyards
The country's leading winemaker on Wednesday said the company has identified a new chief financial officer and has launched three new luxury villas at Beyond Resort in Nasik. Rajeev Samant, founder and CEO of Sula Vineyards, said, "I am pleased to announce that we have identified a new chief financial officer, who will come on board in August.
Hero MotoCorp
The company is gearing up to expand its electric two-wheeler range while upgrading its existing sales infrastructure to enhance premium play as part of its future growth plans, according to its newly appointed CEO Niranjan Gupta. Outlining the company's three priorities in the mid-term, he noted that it would focus on bolstering its presence in the premium segment, expanding the commuter segment and achieving leadership in the electric two-wheeler segment.
Tech Mahindra
Life Insurance Corporation of India (LIC) has raised its stake in IT firm Tech Mahindra Ltd by about 2 percent through an open market acquisition. LIC bought 1.9 crore shares or 2.01 percent of equity capital at an average price of Rs 1,050.77 per unit, the insurer said in a regulatory filing. The insurer bought the additional shares between November 21, 2022, and June 6, 2023, for about Rs 2,000 crore.
ICICI Bank
The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank's board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
Lemon Tree Hotels
Hospitality chain on Wednesday said the company has signed a licence agreement for a 60-room property in Rajahmundry, Andhra Pradesh. The hotel is expected to be operational by the third quarter of FY25. Lemon Tree Hotel, Rajahmundrywill feature 60 well-appointed rooms, a restaurant, banquet, meeting rooms, a swimming pool, gym, and other public areas.
Jindal Poly Films
The company on Wednesday said it's acquiring a 100 percent stake in JPF Netherlands Investment BV, a Netherlands-based entity, which is engaged in the business of packaging films business through its three operational wholly owned subsidiaries based out of France, Italy, and the United Kingdom.
Tata Elxsi
The company on Wednesday said the company has partnered with the Indian Space Research Organisation (ISRO) to enable the upcoming Gaganyaan Mission. Through the association, the company has designed and developed Crew Module Recovery Models (CMRMs) for the recovery team training for the space mission
Zydus Lifesciences
The company on Wednesday said it received final approval from the United States Food and Drug Administration (USFDA) for Tadalafil Tablets USP, 20 mg. Tadalafil relaxes the muscles of the blood vessels and increases blood flow to particular areas of the body. It is used to treat pulmonary arterial hypertension and improve exercise capacity.
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Prime Minister Narendra Modi and US President Joe Biden are all set to announce a mega defence deal during their upcoming meeting between June 21-24, 2023, in Washington DC. The American company will be entering into an agreement with Hindustan Aeronautics Ltd to co-produce jet engines in the South Asian nation. The technology will power India's fighter jet program once the memorandum of understanding is operationalised.
GMR Airports Infrastructure
The company on Tuesday said the company has divested approximately 8,18,000 square feet of warehouse facility located at the Hyderabad airport to ILP Core Ventures I PTE Ltd for Rs 188 crore. GHIAL signed the definitive agreements and closed the transaction with ILP Core Ventures I PTE Ltd at an enterprise value of Rs 188.1 crore, the company said in an exchange filing.
Deepak Fertilisers
Industrial chemicals and fertilisers manufacturer on Tuesday said its wholly owned subsidiary Performance Chemiserve Ltd has raised Rs 900 crore. The company informed the stock exchanges that it has raised Rs 900 crore by issuing an allotment of rated, listed, unsecured, redeemable non-convertible debentures (NCDs) on a private placement basis to qualified institutional buyers.
JSW Ispat Special Products
The company on Tuesday said Kiran Menon has resigned as the chief financial officer (CFO) of the company with effect from the close of business hours of June 5, 2023, to pursue opportunities outside the group. Subsequent to his resignation as the CFO, Menon also ceased as the key managerial personnel of the company effective from June 5, 2023, the company said in an exchange filing.
Mazagon Dock Shipbuilders
Germany and India are closing in on a deal to build diesel submarines in the South Asian country as Russia's prolonged war in Ukraine pushes New Delhi to expand its sources of military hardware beyond its top supplier Moscow. Thyssenkrupp AG's marine arm and Mazagon Dock Shipbuilders are likely to jointly bid for an estimated $5.2 billion project to build six submarines for the Indian Navy.
Adani Group
The company on Tuesday said pre-tax earnings or EBITDA of the listed companies, spanning ports to commodities, grew 36 percent to Rs 57,219 crore in the fiscal ended March 31 (FY23), and there is no material refinancing risk and near-term liquidity requirement. The conglomerate "recorded its highest ever EBITDA at the group portfolio level (combined all group companies) of Rs 57,219 crore, achieving a 36 percent growth over the previous financial year
Torrent Power
The company on Tuesday said the company has signed a memorandum of understanding (MoU) with the government of Maharashtra for the development of three pumped storage hydro projects of 5,700 MW capacity in the state. The projects entail an investment of about Rs 27,000 crore and would provide employment to approx. 13,500 people during the construction period. Torrent intends to execute these projects over a period of 5 years.
IIFL Finance
The company on Tuesday said it will open a public issue of secured bonds on June 9, 2023, to raise up to Rs 1,500 crore, for the purpose of business growth and capital augmentation. The company said it will issue secured redeemable non-convertible debentures (NCDs), aggregating to Rs 300 crore, with a green-shoe option to retain over-subscription of up to Rs 1,200 crore (aggregating to a total of Rs 1,500 crore).
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