Adani Enterprises: The company has raised Rs 700 crore through allotment of 70,000 non-convertible debentures (NCDs) of face value of Rs 1 lakh each through private placement.
Tata Consulting Services: The country’s largest IT services exporter posted 8.7 per cent year-on-year profit growth at Rs 11,342 crore for the quarter ended September FY24, slightly above analyst estimates on the back of better operating numbers. Quarterly revenue grew 7.9 percent year-on-year to Rs 59,692 crore, with currency-neutral sales growth of 2.8 percent, driven by energy, resources, utilities and manufacturing segments. The operating margin rose by 0.3 percent year-on-year to 24.3 percent. The company announced an interim dividend of Rs 9 per share and order bookings of $11.2 billion for the quarter, up from $10.2 billion in the previous quarter. TCS has decided to buy back shares worth Rs 17,000 crore at a price of Rs 4,150 per share.
IndusInd Bank: The Reserve Bank of India has granted approval to SBI Mutual Fund to acquire up to 9.99 per cent of the paid-up share capital of IndusInd Bank. The RBI has advised SBI MF to acquire the said stake in the bank within a period of one year i.e. by October 10, 2024. In addition, SBI MF must ensure that the total shareholding in the bank does not exceed 9.99 percent of the deposited amount at any time of the bank’s share capital.
Delta Corp: The casino gaming company reported a consolidated profit of Rs 69.44 crore for the quarter ended September FY24, up 1.74 per cent year-on-year, on the back of subdued revenue and operating performance . Operating revenue stood at Rs 270.6 billion, up 0.2 percent year-on-year. The board has appointed Anil Malani as president and CFO and Manoj Jain as chief operating officer of the company, effective October 11.
Rail Vikas Nigam: The state-run railway corporation has emerged as the lowest bidder for a Rs 28.73-crore project by Northeast Frontier Railway. The project work includes the delivery, installation, testing and commissioning of an integrated tunnel communication system in the new single-lane Sukhovi-Pherima section of Lumding Division.
Cipla: The United States Food and Drug Administration (USFDA) has inspected the manufacturing facility of InvaGen Pharmaceuticals Inc., a wholly owned subsidiary of the company, in Central Islip, Long Island, New York. The Company has received the EIR (Establishment Inspection Report) from the USFDA to classify this inspection as a Voluntary Action Indicated (VAI).
Maruti Suzuki India: The country’s largest automobile manufacturer has started exporting its Jimny 5-Door. The vehicle will be shipped to Latin America, the Middle East and Africa.
Larsen & Toubro: The infrastructure major has received an order from the Deputy Commissioner of CGST & CX, Gangtok Division, Gangtok, Sikkim to impose a penalty of Rs 64.98 lakh under the Central Goods and Services Tax Act.
Patanjali foods: The FMCG company said the edible oil segment faced sustained pricing pressure in the second quarter of fiscal 2024, mainly due to excessive imports leading to increased inventory levels, impacting both sales and margins. The price development observed in the second quarter was consistent with that of the first quarter and showed different price fluctuations between the physical market and the futures market. The company reported an increase in edible oil sales volume with single-digit year-on-year growth in the second quarter and achieved double-digit sequential growth in food and FMCG segments in the second quarter.
South Indian Bank: The Reserve Bank of India has approved the appointment of VJ Kurian as Part-time Non-Executive Chairman (Independent Director) of the Bank with effect from November 2, 2023 to March 22, 2026. The appointment comes in place of Salim Gangadharan, who will step down as Non-Executive Part-Time Chairman (Independent Director) of the bank on November 1.
MIRC electronics: Vikram Surendran has resigned as Chief Executive Officer of the company effective October 11 due to personal reasons.
PCBL: The RP-Sanjiv Goenka Group company has received two invention patents from the Indian Patent Office. One of them concerns the process for treating carbon black and oxidized carbon black derived therefrom, which refers to the innovative process for modifying carbon black specialties for ink and coating applications. The second patent covers surface-modified carbon blacks to improve the performance of rubber compounds, which is related to the innovative carbon black composition the company has developed to improve fuel efficiency and tire life.
Plaza wires: The wire and cable manufacturer is expected to make its debut on the BSE and NSE on October 12. The issue price has been fixed at Rs 54 per share.
Pricol: The automotive component manufacturer has entered into a cooperation agreement with Heilongjiang Tianyouwei Electronics. Both companies will work closely through technology transfer and delivery partnerships to provide advanced technologies for driver information system solutions to Indian vehicle manufacturers across various vehicle segments.
MedPlus Health Services: The retail pharmacy chain has received approval from the board to raise funds up to Rs 1,200 crore through issuance of non-convertible debentures and warrants in one or more tranches.
National aluminum company: The state-owned aluminum company has appointed Jagdish Arora as director (projects and engineering) with effect from October 11.
Grasim Industries: The Aditya Birla Group company said the board will meet on October 16 to consider raising funds through shares or other securities through rights issue, qualified institutional placement, preferential issue or any other method.
EMS: The company has received an order worth Rs 270.82 crore from the Office of Municipal Corporation, Jaipur Heritage. The contract work includes the laying, testing and commissioning of the sewer system and all ancillary work as well as a one-year liability for defects and ten years of operation and maintenance for the cities.
Shilpa Medicare: The Company has received approval from the Office of the Directorate of Ayurveda and Unani Services (a division of the Ministry of Aayush) to manufacture and sell oral mucositis sprays in India under the brand name ORAAL. The composition of ORAAL is protected in India by a patent granted until November 2033.
Mobile route: The subsidiary Route Mobile (Bangladesh) has entered into a partnership with Robi Axiata in Bangladesh as a technical enabler and sales partner for RCS (Rich Communication Service) business messaging.
Laxmi Organic Industries: The chemical manufacturer has raised Rs 259 crore through a qualified institutional placement (QIP) of its shares. The company’s fundraising committee has approved allotment of 96.25 lakh shares at an issue price of Rs 269.20 per share.
Bhagiradha chemicals: The Patent Office of the Government of India has granted Bhagiradha Chemicals and Industries a patent titled “Novel Process for Preparation of Ethiprole” for 20 years with effect from January 12, 2021.
Sharp chucks and machines: The machined forging and sorting castings manufacturer will make its debut at NSE Emerge on October 12. The offer price is Rs. 58 per share. Your shares will be available for trading in the trade-for-trade segment.
Timken India: Jamshedpur factory operations will be restricted from October 19 to 24 due to physical verification of inventory and Durga Pooja festival.
Shakti pumps: The company has received approval from the board to make an investment of ₹114.29 crore in subsidiary Shakti EV Mobility in one or more tranches over the next five years.
Vivaa Tradecom: The apparel and apparel company will list shares on the BSE SME on October 12. The issue price is Rs. 51 per share. The stock appears in the trade-for-trade segment for 10 trading days.
Karnika Industries: Trading of apparel manufacturers will begin on NSE Emerge with effect from October 12. The issue price is Rs 76 per share. Its shares will be available for trading in the trade-for-trade segment.
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