Vodafone Idea: The debt-ridden telecom company announced that its board will meet on June 13 to consider a proposal to issue equity shares or convertible securities on a preferential basis to vendors. The company has been reporting widening losses and a marginal increase in annual revenue from operations.
RVNL: Rail Vikas Nigam Limited has been selected as the lowest bidder by Central Railway for work in the Amla-Nagpur Section in the Nagpur division of Central Railway, aiming to achieve a 3000 MT loading target. Separately, a consortium of Siemens and RVNL has secured a contract worth ₹394 crore from Bangalore Metro Rail Corporation Ltd (BMRC), which involves engineering, supply, erection, testing, and commissioning of various systems, to be executed within 130 weeks.
Transformers and Rectifiers India: The company has set a floor price of ₹699.95 per share for fund-raising through a qualified institutional placement.
Tata Motors: The company is offering substantial savings on a range of sought-after models including the Tiago, Altroz, Nexon, Harrier, and Safari. Discounts and benefits reach up to ₹55,000 on select MY2024 units.
IRB Infrastructure Developers: Cintra, a subsidiary of Spanish infrastructure group Ferrovial, is expected to sell up to a 5% stake in IRB Infrastructure Developers through a block deal. The deal, priced between ₹63-70.16 per share, represents up to a 10.2% discount to the last closing price. The transaction size is approximately ₹1,900.3 crore at the lower end of the price band.
Power Grid Corp.: The company has successfully implemented the ‘Reliable Communication Scheme under Central Sector for Northern Region’ from April 1.
One 97 Communications: Paytm’s founder and CEO, Vijay Shekhar Sharma, is reaching out to his old allies and trusted lieutenants as he looks to revive the firm. Amidst reports of internal discord and regulatory upheaval, Sharma is taking control of various verticals to revive growth, reduce customer attrition, and shore up confidence among partners, merchants, and customers.
PVR Inox: The multiplex chain is focusing on growing its fastest-growing segment – food and beverage (F&B). The multiplex operator is partnering with EazyDiner to offer its customers up to a 25% discount on popcorn, Pepsi, and more for payments made via EazyDiner.
Kalpataru Projects International: The company announced that its board has approved the proposal to raise ₹300 crore through the issuance of Non-convertible Debentures (NCDs) on a private placement basis. A total of 30,000 NCDs of face value of ₹1,00,000 each, aggregating to ₹300 crore is proposed to be issued.
Mphasis: Kotak Mahindra Mutual Fund, along with Morgan Stanley and Societe Generale, purchased Mphasis shares worth nearly ₹1,900 crore. The largest shareholder in Mphasis, Blackstone, offloaded a 15.1% stake in the company.
Jubilant Foodworks: The master franchise operator for Dominos in India plans to double its outlets to 4,000 in the next four years. The company is eyeing around 200 new stores in India every year to achieve its medium-term goal.
Suzlon Energy: The company clarified that there are no financial irregularities or compliance violations within the organization, following the resignation of its independent director Marc Desaedeleer. Desaedeleer raised corporate governance issues within the company in his resignation letter.
Bank of India: The bank has acquired a 6.125% stake in Clearing Corporation of India Ltd. (CCIL) IFSC, a newly incorporated entity listed in GIFT SEZ, for ₹6.125 crore. This acquisition reflects the bank’s commitment to the growth of IFSC. CCIL IFSC, promoted by Clearing Corporation of India Limited (CCIL), is set to build and operate a real-time foreign currency settlement system at GIFT City, India’s only operational international financial services centre.
Havells India: The company has announced its strategic partnership with UAE-based consumer electronics and technology product distributor, Jumbo Group, to enter the kitchen appliances market. The products will be available on Jumbo’s e-commerce website, followed by retail store distribution at Jumbo Electronics outlets.
Infosys: GitHub, a Microsoft-owned developer platform, has partnered with Infosys to launch its first GitHub Center of Excellence (CoE). The collaboration aims to speed up the process of software production partnering with Global System Integrators (GSIs).
NLC India: NLCIL has announced that its board has approved the plan to raise up to $600 million through External Commercial Borrowings (ECB) to meet its business requirements. Additionally, the board granted in-principle approval for an investment of up to ₹994.50 crore in NLC India Renewables, a wholly-owned subsidiary of NLC India.
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Published: 11 Jun 2024, 08:02 AM IST