HDFC Bank
RBI lifts restrictions on business generating activities planned under bank’s Digital 2.O Programme.
Dhanvarsha Finvest
The board approved raising Rs 88.65 crore by issuing equity shares and warrants to non-promoters on a preferential basis.
Gail (India)
The board has approved the payment of the second interim dividend of Rs 5 a share for the financial year FY21-22. The record date for eligibility of shareholders for payment of dividend has been fixed as March 22.
Jubilant FoodWorks
Pratik Rashmikant Pota has resigned as the CEO and whole-time director of the company.
Hindalco Industries
ICICI Prudential Mutual Fund through its various schemes sold 11.81 lakh equity shares in the company through open market transactions on March 9. With this, its shareholding in the aluminium major stands at 3.01 percent, down from 3.07 percent earlier.
Indian Bank
Indian Bank declares the Topsgrup Services NPA account as fraud. The amount involved is Rs 34 crore, provision held Rs 14 crore.
Lupin
The pharma major has received approval from the US FDA for the abbreviated new drug application Vigabatrin for oral solution USP. This drug is a generic equivalent of Sabril owned by Lundbeck Pharmaceuticals, LLC. Vigabatrin had estimated annual sales of $275 million in the US as per IQVIA MAT data of December 2021.
CESC
The firm said transactions for sale and transfer of 100 percent shareholding in Surya Vidyut to Torrent Power have been completed. The company and its six subsidiaries entered into a share purchase agreement with Torrent Power for the sale of 156 MW power plants operated by Surya Vidyut in Gujarat, Rajasthan and Madhya Pradesh, in September 2021. Surya Vidyut was a wholly-owned subsidiary of CESC.
Mahindra and Mahindra
Canada’s Brookfield Asset Management Inc is looking to buy a substantial stake in the M&M subsidiary, Mahindra Susten, as per a report. The development follows M&M’s earlier announcement to unlock value in its subsidiary by bringing new investors on board, the report said.
Anupam Rasayan India
Anupam Rasayan has acquired a 24.96 percent stake in the company through off-market transactions on March 11. The stake was acquired by Anupam at Rs 595 a share from sellers. With this, Anupam Rasayan has become a promoter of Tanfac along with Tamil Nadu Industrial Development Corporation (TIDCO). Anupam had entered into a share purchase agreement with sellers—Birla Group Holdings, Pilani Investment & Industrial Corporation and Askaran Agarwala in February.