Tata Consultancy Services: Tata Consultancy Services, India’s largest IT services exporter, will go ex-buyback on November 24. The company approved a buyback of shares worth Rs 17,000 crore at Rs 4,150 each. Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) will also trade ex-buyback on the same date.
Lupin: Lupin has received tentative approval from the US FDA for its drug application for Canagliflozin tablets. The tablets are used as a generic equivalent of Invokana tablets and had an annual sale of $561 million in the US. Lupin has also received approval for its drug application for Bromfenac Ophthalmic Solution, which is a generic equivalent of Prolensa ophthalmic solution.
HDFC Bank: V Srinivasa Rangan has been appointed as Executive Director (whole-time Director) of HDFC Bank after receiving approval from the RBI. He previously served as Executive Director and CFO of the erstwhile Housing Development Finance Corporation.
Siemens: Siemens has been ordered to pay a service tax liability of Rs 23,68,12,903 by the Commissioner, CGST & Central Excise, Belapur Commissionerate. The order also includes appropriate interest and penalties under Section 78 of the Finance Act.
Power Finance Corporation: These companies will trade ex-dividend with effect from November 24: Power Finance Corporation, Manappuram Finance, Natco Pharma, EMS, BMW Industries, Career Point, Ddev Plastiks Industries, Esab India, Goldiam International, GPT Infraprojects, Indag Rubber, Intelligent Supply Chain Infrastructure Trust, Morganite Crucible, Nicco Parks & Resorts, Riddhi Corporate Services, Sharat Industries, Uniparts India, and Xtglobal Infotech.
JSW Steel: JSW Steel has completed its investment of Rs 750 crore in JSW Paints with a last tranche of Rs 75 crore. JSW Paints has completed the share allotment, and now JSW Steel holds 12.84% of the paid-up equity capital with 2.94 crore equity shares in JSW Paints.
LTIMindtree: LTIMindtree launched the Quantum-Safe VPN link in London, in collaboration with Quantum Xchange and Fortinet, to secure data transmission for the approaching quantum era.
Karnataka Bank: Karnataka Bank has tied up with Bajaj Allianz Life Insurance Company to distribute life insurance products to its customers, leveraging Bajaj Allianz’s product capabilities and Karnataka Bank’s large customer base with over 900 branches across India.
Prestige Estates Projects: Prestige Estates Projects launched Prestige Glenbrook, a high-rise residential project in Bangalore’s IT Hub with 285 apartments across two towers and a revenue potential of Rs 550 crore.
Union Bank of India: ICRA upgraded the ratings of Union Bank to AAA from AA+ due to its sustained improvement in earnings, a decline in fresh NPA additions, healthy recoveries and upgrades, and high provision coverage. The agency also revised its outlook to ‘stable’ from ‘positive’ for the bank’s various instruments.
Vishnu Chemicals: Vishnu Chemicals has incorporated Vishnu International Trading FZE, a subsidiary in Dubai, UAE, to distribute, transmit, and sell chemicals.
NMDC: NMDC has fixed the prices of lump ore and fines with effect from November 23 at Rs 5,400 per tonne and Rs 4,660 per tonne, respectively.
Indian Hotels Company: Indian Hotels Company invested Rs 55 crore in Genness Hospitality and Rs 35 crore in Qurio Hospitality via rights issues, without any change in the shareholding percentage.
Rategain Travel Technologies: Societe Generale sold 6,15,945 equity shares, or 0.52 percent of paid-up equity, in Rategain Travel Technologies via an open market transaction. These shares were sold at an average price of Rs 663.74 per share, amounting to Rs 40.88 crore.
Home First Finance Company India: Smallcap World Fund and Fidelity Global Investment Fund acquired a 3.2% stake in Home First Finance Company India. Meanwhile, True North Fund, Aether Mauritius, and Orange Clove Investments sold shares in the company.
Apar Industries: Apar Industries launched its QIP issue for fundraising on November 23, with a floor price of Rs 5,540.33 per share.
Hazoor Multi Projects: Hazoor Multi Projects’ subsidiary, Hazoor Infra Projects, has been chosen to rehabilitate and upgrade NH-66 (Arawali to Kante section) to four lanes in Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri. The project’s value of Rs 1,129.81 crore highlights Hazoor Infra Projects’ potential for growth and success, and the company is committed to delivering it on schedule and ensuring the highest quality standards are met.
