The Reserve Bank of India approved a dividend of Rs 2.11 lakh crore for the Central government for FY24, marking a significant increase of around 141% compared to FY23. Additionally, the contingency risk buffer (CRB) has been raised to 6.5% from its previous level of 6%. In FY23, the central bank had transferred Rs 87,416 …
Honasa Consumer Limited, a leading digital-first house of beauty and personal care brands, announced a strategic move to bolster its research and development (R&D) capabilities. The company has entered an Asset Purchase Agreement with Cosmogenesis Cosmetics, a Thane, Maharashtra-based cosmetics R&D consultancy and manufacturing firm. Acquisition Details The agreement entails the acquisition of specific assets …
HCL Technologies Limited (HCLTech), a leading global IT services provider, announced a strategic move to further bolster its presence in the telecom services sector. Through an asset acquisition agreement, HCLTech will acquire key assets from Hewlett Packard Enterprise’s (HPE) Communications Technology Group (CTG). Expanding Capabilities Across the Spectrum This acquisition signifies HCLTech’s commitment to continued …
Uno Minda Limited (formerly Minda Industries Limited), a leading automotive component supplier, has outlined a series of strategic initiatives to bolster its market presence and production capabilities. These announcements encompass an equity stake acquisition, in-principle approval for another acquisition, and a planned plant expansion. Stake in Toyoda Gosei Uno Minda announced the acquisition of a …
IndiGo, India’s leading passenger airline, has announced a groundbreaking move to redefine business travel within the country. The airline plans to launch a tailor-made business product specifically catering to India’s busiest business routes and the growing class of high-flying professionals. IndiGo’s story is one of revolutionising air travel in India. Nearly 18 years ago, they …
On May 24, 2024, Nucleus Software Exports Limited, India’s leading provider of lending and transaction banking solutions, released its results for the quarter (Q4 FY2024) and year ended (FY2024) on March 31, 2024. Quarterly Performance Consolidated revenues for the quarter ending March 31, 2024, were ₹210.3 crore, compared to ₹206.2 crore for the same period …
Sun Pharmaceutical Industries Ltd (Sun Pharma) announced a major milestone in acquiring Taro Pharmaceutical Industries Ltd (Taro). Taro shareholders overwhelmingly approved the merger agreement at an Extraordinary General Meeting and Ordinary Class Meeting held on May 22, 2024. This signifies a significant step forward towards finalising the deal, initially announced on January 17, 2024. The …
On May 23, 2024, one of the leading real estate developers, Brigade Enterprises Limited, announced in an exchange filing that it has signed a Joint Development Agreement (JDA) to develop a residential project spread across 6.9 acres with a total development potential of around 0.8 Mn Sq Ft and a Gross Development Value of ₹720 …
UPL Limited, formerly United Phosphorus Limited, is an Indian multinational company that manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals. Aarti Industries is one of the largest Pharmaceutical and Speciality Chemicals Manufacturers in India. Both these companies have entered into a 50-50 Joint Venture for manufacturing and marketing specialty chemical products. UPL …
On Thursday, the Nifty index opened above 22600 and, despite some initial volatility, gained impressive strength as the day went on. The index approached the significant 23000 mark before closing at 22968, up by 370 points or 1.64%. Bulls Take Charge on Dalal Street The bulls made a strong comeback on Dalal Street, with benchmark …
