On August 27, 2024, Aditya Birla Capital Limited (ABCL) announced that it had invested ₹300 crore in Aditya Birla Housing Finance Limited (ABHFL) through a rights issue. Despite this investment, ABCL’s percentage shareholding remains unchanged, and ABHFL remains a wholly-owned subsidiary of ABCL. Since ABHFL is a WOS, it qualifies as a related party to …
Paras Defence and Space Technologies Ltd (PDSTL) is back in the headlines, and for good reason. The company, which became a sensation in the Indian stock market with its initial public offering (IPO) being oversubscribed by an astounding 300 times, has now approved a significant fund-raising plan. This move is set to pave the way …
On August 27, 2024, Shilpa Medicare Ltd announced the USFDA approval of its second New Drug Application (NDA) [505(b)(2)] for Bortezomib Injection. This injectable product, approved for both subcutaneous and intravenous use, is available as a single-dose vial containing 3.5 mg/1.4 mL (2.5 mg/mL) of Bortezomib. Notably, it is the first liquid form of Bortezomib …
At the close of the trading session on August 27, 2024, Nifty 50 was up 0.03% and Sensex was up 0.02% to close at 25,017 and 81,711, respectively. Top Gainers and Losers On the sectoral front, Nifty Media, Nifty Financial Services 25/50, Nifty Pharma and Nifty Mid-small Healthcare saw gains. On the other hand, Nifty …
Adani Energy Solutions Ltd (AESL) has solidified its position as India’s largest private transmission and distribution company by acquiring the Khavda Phase IV Part-A transmission project. The acquisition, completed following a letter of intent from REC Power Development and Consultancy Ltd, will further bolster AESL’s role in India’s energy transition. The Khavda IVA Power Transmission …
The Indian automobile industry has historically been a good indicator of the economy’s health, as the automobile sector plays a significant role in both macroeconomic expansion and technological advancement. The Indian passenger car market was valued at US$ 32.70 billion in 2021, and it is likely to reach US$ 54.84 billion by 2027, registering a …
Century Textiles and Industries Limited has announced a significant development in its real estate portfolio through its wholly-owned subsidiary, Birla Estates Pvt Ltd. The company has signed a strategic agreement with the LGCPL group to co-develop a 131-acre land parcel in Sector 150, Noida. This venture, pending necessary clearances from relevant authorities, will be part …
Thomas Cook (India) Limited informed the exchanges that the company had expanded its footprint in Chennai with the inauguration of a new franchise outlet in Parry’s Corner, strategically located near the Tamil Nadu High Court, Chennai Central railway station, and major bank headquarters. This prime location also serves surrounding areas like Fort St. George, George …
Genus Power Infrastructures Limited has recently taken significant steps to strengthen its position in the power infrastructure and distribution industry. The company informed the exchanges that on August 28, 2024, it incorporated a wholly-owned step-down subsidiary named, Genus Mewar Smart Metering SPV Private Limited. This new entity was officially recognised with the issuance of a …
Ratnamani Metals & Tubes Limited has made a significant strategic move by increasing its stake in Ravi Technoforge Private Limited (RTL). RTL is involved in the manufacturing of high-precision forged and turned bearing rings, gear blanks, and other bearing components. This acquisition was executed as part of a series of transactions outlined in the Definitive …
