According to reports, Hulst BV, promoter coforge gmbh is selling its entire 26.63% stake in a blockbuster deal to keep the stock in focus. The floor price has reportedly been set at Rs 4,550 per share, representing a 7.4 per cent discount to the current market price of Rs 4,901.95. Hulst BV registered in the Netherlands is owned and controlled by BPEA (Baring Private Equity Asia) affiliated funds.
Due to the successful landing of Chandrayaan-3, stocks of Larsen & Toubro, Hindustan Aeronautics, Bharat Forge, Linde India, Centum Electronics, Avantel, LMW and L&T Technology Services will continue to be in focus as they are in the electronic component supply business or in the aerospace sector engineering solutions.
The board of directors of Asit C. Mehta Financial Services Limited will meet on August 26 to consider and approve the proposal to issue 2,000 10.50% secured redeemable non-convertible bonds. Rs. 1,00,000 in total for each denomination. Private placement of 200 million rupees.
Vascon Engineerings Limited has received the Letter of Acceptance in the amount of Rs. Rs 605.65 crore (inclusive of GST) from Bihar Medical Services and Infrastructure Ltd (a venture of the Bihar government) for the construction of Lohia Medical College and Hospitals, including the one in Subau Hospital and residential buildings. The job has been awarded on an “EPC basis”. The work must be completed within 36 months from the date of receipt of the offer letter.
Fineotex Chemical Limited, a leader in specialty chemicals based in Mumbai, India, has been awarded the ESG Register badge by Dun & Bradstreet (D&B), a world-renowned provider of data and analytics for business decisions. The D&B ESG Registration badge is a testament to Fineotex’s commitment to transparent disclosure of its Environmental, Social and Governance (ESG) initiatives.
TVS Motor Company launched its new sporty and stylish electric scooter, the TVS X, on Wednesday. This newly born electric product is a crossover electric two-wheeler designed and developed to target a new customer segment – Generation Z and millennials.
The Competition Commission of India (CCI) ruled on Wednesday: tata motors Limited did not breach the provisions of the Competition Act 2002. A key ruling by the fair trading watchdog ends a contentious investigation that has brought the auto giant under intense scrutiny. At the center of the dispute are two long-term authorized dealers of Tata Motors. The company has also been accused of imposing certain restrictive clauses in its reseller agreements, notably requiring resellers to obtain a No Objection Certificate (NOC) before venturing into or acquiring new businesses. Another point of contention is Tata Motors’ alleged vertical restraints on its dealers, restricting them from selling vehicles outside designated territories.
Torrent Pharmaceuticals informed the exchange that the US FDA has issued a corporate inspection report for its manufacturing plant in Dahej, Gujarat. The inspection was carried out between May 17 and 25.
Reliance Retail Ventures Limited, a unit of Reliance Industries, said Qatar Investment Authority, through its wholly-owned subsidiary, will invest Rs 8,278 crore in RRVL. The pre-investment equity value of the investment in RRVL is Rs 8,278 crore.
NHPC Limited has signed a Memorandum of Understanding with Andhra Pradesh Power Generation Company Limited (APGENCO) for the Implementation of Pumped Storage Hydropower Projects and Renewable Energy (Solar/Floating Solar/Wind) Projects in Andhra Pradesh.
DroneAcharya Aerial Innovations successfully tested a reusable rocket launch vehicle. The company said in a release that the vehicle reached an altitude of about 3 kilometers above the ground and landed successfully using a parachute device. The vehicle has air pressure sensors, thermal sensors, internal combustion sensors, air friction sensors (with calculations) and miniature parachutes for onboard equipment recovery. The main highlight of the test was the 100% recovery of both the onboard sensors and the rocket launch vehicle.
