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Tech Mahindra: Life Insurance Corporation of India has increased its stake in the IT services provider by 2.015% to 8.88% from 6.87%, via open market transactions in around six months. The average buying price for these shares stood at Rs 1,050.77 per share.
Wipro: The technology services and consulting company launched a managed private 5G-as-a-Service solution in partnership with Cisco. The new offering enables enterprise customers to achieve better business outcomes through the seamless integration of private 5G with their existing LAN/WAN/Cloud infrastructure.
Tata Elxsi: The Tata Group company has partnered with the Indian Space Research Organization (ISRO) to enable the upcoming Gaganyaan Mission. Through the association, Tata Elxsi has designed and developed Crew Module Recovery Models (CMRM) for recovery team training of the space mission. Further, the company expanded its automotive and smart mobility focus in North America with a launch of innovation hub and nearshore engineering centre in Troy, Michigan.
Punjab & Sind Bank: The Board of Directors of the bank will meet on June 12 for considering the proposal for raising of capital, up to Rs 750 crore, through issuance of Basel-III compliant additional Tier-1 bonds or Tier-IT bonds, in one or more tranches within a period of 12 months from the date of approval.
Jindal Poly Films: The polyester & polypropylene films manufacturer has entered into an agreement, to acquire 100% shareholding in Netherlands-based firm JPF Netherlands Investment B.V. JPF is engaged in the business of packaging films business through its three operational wholly owned subsidiaries based out of France, Italy, and United Kingdom.
Zydus Lifesciences: The pharma company has received final approval from United States Food and Drug Administration (USFDA) for Tadalafil tablets. Tadalafil relaxes muscles of the blood vessels and increases blood flow to particular areas of the body. It is used to treat pulmonary arterial hypertension and improve exercise capacity in men and women.
Mazagon Dock Shipbuilders: The state-owned shipbuilding company has signed a non-binding / non-financial MoU with Thyssenkrupp Marine Systems, for cooperation and preparation for submarine project P75-I, in India. Thyssenkrupp Marine Systems would contribute to the engineering and design of the submarines as well as the consultancy support to this joint project, while Mazagon Dock would take responsibility for constructing and delivering the respective submarines.
Lemon Tree Hotels: The hotel chain has signed a License Agreement for a 60-room property in Rajamundry, Andhra Pradesh. The hotel is expected to be operational by third quarter of FY25. Subsidiary Carnation Hotels will be operating this hotel.
Stove Kraft: Balaji A S has resigned as Chief Financial Officer of the kitchen appliances company, due to personal reasons. Company in the process of hiring a professional for position of chief financial officer as well as chief information officer.
Sula Vineyards: The wine producer has identified a new Chief Financial Officer, who will come on board in August. Further the company has launched three new luxury villas at Beyond resort in Nasik.
Satin Creditcare Network: The microfinace company said the board of directors will meet on June 12 to consider the raising of funds via issuance of securities on a private placement basis, in one or more tranches.
Hatsun Agro Product: The board of directors of the company will meet on July 5, to consider the sale of windmill division via transfer of all the assets and liabilities related to division on a ‘slump sale’ basis to the prospective buyer at a price mutually agreeable to the company and the buyer.
Titagarh Wagons: The board of directors will meet on June 10, to consider raising funds via issue equity of shares or other securities including through preferential issue, qualified institutional placement, and rights issue.
Aether Industries: The chemical manufacturer signed a Letter of Intent (LoI) with the US-based global oil field services company for strategic supplier and contract manufacturing partnership. The LoI specifies 4 strategic products of the new customer that will be contract manufactured by Aether as the first set of products in this new partnership.
Sharda Cropchem: Ashok Kumar Vashisht has resigned as Chief Financial Officer (CFO) of the company due to personal reasons, with effect from June 8. The company is in the process of appointing a new CFO.
JSW Ispat Special Products: The National Company Law Tribunal (NCLT) has sanctioned scheme of arrangement of JSW Ispat Special Products, and Mivaan Steels.
Deepak Fertilisers & Petrochemicals Corporation: Foreign portfolio investor Smallcap World Fund Inc has sold 23.54 lakh equity shares or 1.86% stake in the company via open market transactions, at an average price of Rs 548.42 per share. The FPI held 4.94% stake or 62.35 lakh shares in the company as of March 2023.
D-Link India: Ace investor Ashish Kacholia has sold 1.94 lakh shares or 0.54% stake in D-Link India at an average price of Rs 228.5 per share. Kacholia held 2.11% stake or 7.5 lakh shares in the company as of March 2023.
Snowman Logistics: Promoter Gateway Distriparks has acquired additional 11 lakh shares or 0.65% stake in the logistic company at an average price of Rs 40.02 per share.
Shivkamal Impex: Girish Kumar has resigned as the Chief Financial Officer of the company, due to personal reasons, with effect from June 7.
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