Tata Consumer Products Limited (TCPL) unveiled a significant capital-raising initiative through a rights issue on July 23, 2024. This strategic move, announced via a stock exchange filing, aims to generate up to ₹3,000 crore (approximately USD 370 million) to bolster the company’s growth and expansion plans. Key Details of the Rights Issue Target Amount: ₹2,997.77 …
Reliance Industries Ltd., India’s largest privately owned refiner, has received approval from the U.S. to resume importing crude oil from Venezuela, marking a huge development amid ongoing White House sanctions. This decision enables Reliance to restart purchasing Venezuelan crude, a move that carries major geopolitical and economic implications. Background & Regulatory Changes Last year, Washington …
The proposed $8.5 billion merger of Indian media assets between Reliance Industries and Walt Disney is facing heightened scrutiny from the Competition Commission of India (CCI). This intense review underscores concerns about the deal’s potential impact on competition within the Indian entertainment landscape. Barrage of Questions The CCI has bombarded both companies with nearly 100 …
Sundaram-Clayton Limited, a diversified Indian conglomerate, announced a strategic expansion on July 23, 2024, with the incorporation of a wholly-owned subsidiary named “SCL Properties Private Limited” (SCLPPL). This move signifies the company’s foray into the promising data centre and IT services sector. Wholly-Owned Subsidiary Strengthens Strategic Position Sundaram-Clayton has fully subscribed to SCLPPL’s equity shares, …
Piramal Pharma Limited announced a significant step towards bolstering its commitment to sustainability on July 23, 2024. The company’s Board of Directors approved definitive agreements for acquiring up to a 15.76% equity stake in Clean Max Aero Private Limited (SPV), a renewable energy supplier, for a total consideration of ₹2.16 crore in cash. Strategic Investment …
On July 23, 2024, Gland Pharma Limited, a company specialising in generic injectable drugs, announced via a stock exchange filing that it has received tentative approval from the USFDA (US Food and Drug Administration ) for its Latanoprostene Bunod Ophthalmic Solution, 0.024%. This product is considered equivalent to Bausch & Lomb Inc.’s Vyzulta® Ophthalmic Solution, …
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading NBFC in Emerging India, reported positive results for the quarter ended June 30, 2024 (Q1FY25). Here’s a breakdown of the key highlights: Financial Performance Business Assets: Grew 23% YoY to ₹1,06,339 crore, demonstrating a healthy loan portfolio. Disbursement: Maintained growth with ₹12,741 crore disbursed, reflecting …
About Partnership L&T Technology Services (LTTS) and SymphonyAI have announced a strategic partnership to deliver cutting-edge AI-based solutions for enterprise operations. This collaboration leverages SymphonyAI’s Apex Enterprise Copilot, a powerful AI-driven platform, to transform IT service management (ITSM) and enhance overall business efficiency. The partnership aims to deliver transformative IT operations solutions to global customers …
On July 23, 2024, Craftsman Automation Limited announced that it had acquired 100% of the equity shares of INOS 24-004 GmbH, a German company. This acquisition was carried out through a share sale and purchase agreement, making INOS 24-004 GmbH a wholly-owned subsidiary of Craftsman Automation. Additionally, INOS 24-004 GmbH owns INOS 24-003 GmbH, which …
On July 23, 2024, Zydus Lifesciences Limited, along with its subsidiaries, announced that it had received final approval from the USFDA (United States Food and Drug Administration ) to market Valsartan Tablets USP in dosages of 40 mg, 80 mg, 160 mg, and 320 mg, which are equivalent to Diovan® tablets. Valsartan tablets treat high …
