The board of Tata Motors on Monday will meet on May 2 to consider a proposal to raise up to Rs 500 crore through the issue of securities on a private placement basis. The board will consider and approve the issuance of rated, listed, unsecured, redeemable, non-convertible debentures on a private placement basis.
Aurobindo Pharma on Monday said a fire incident occurred at the Andhra Pradesh-based plant of its subsidiary Lyfius Pharma on April 27, leading to temporary suspension of operations. The incident resulted in damage to certain ancillary equipment with no impact on the core manufacturing infrastructure at the Penicillin-G production facility located in Kakinada, the Hyderabad-based drug maker said in a regulatory filing. Importantly, there were no injuries reported, it added. “As a precautionary measure and to facilitate necessary equipment replacements, operations at the plant will be temporarily paused for an estimated period of 20 to 25 days,” the company said.
The Enforcement Directorate (ED) carried out raids at the offices of Gensol Engineering. Operating under the Foreign Exchange Management Act (FEMA), officials seized financial documents, electronic devices, and other records during their search, the company said the face acquisitions of fraud. The raid has been conducted in company’s units in Ahmedabad and Gurgaon.
According to market buzz that TGP Rise Climate is planning to sell 3.9 per cent stake in Tata Technologies through block deal. According to reports, about 1.59 crore shares would be offloaded in the price range of Rs 670-699.
State-owned REC Ltd has raised Rs 5,000 crore through issuance of bonds. The offering included Rs 3,000 crore through five-year bonds at a coupon of 6.87 per cent and Rs 2,000 crore through 10-year bonds at a coupon of 6.86 per cent, a company statement said. According to the statement, the bond issuance witnessed an overwhelming response from market participants, reflecting strong investor confidence in the company’s robust financial position and growth prospects. The bonds have been assigned a “AAA” rating by prominent credit rating agencies – CARE Ratings, ICRA, and India Rating & Research Pvt Ltd (IRRPL) – signifying the highest degree of safety regarding timely servicing of financial obligations.
Sonata Software on Monday said it has bagged a $73 million (about Rs 620 crore) deal from a US-based company in the technology, media and telecom space for AI-led digital modernisation. The deal is spread over five years, Sonata Software said in a statement. “Sonata Software secures a USD 73 million AI-led Digital Modernization Deal with a leading US TMT Company,” the statement said. Sonata will establish a dedicated AI-enabled Modernization Engineering Center in India under the deal.
Wipro has bagged an IT transformation deal from Germany-headquartered firm Vorwerk. As part of the five-year partnership, Wipro will modernise Vorwerk’s IT infrastructure using its AI-powered infrastructure operations solution, according to a company statement. The company did not divulge the value of the deal.
Global Health, which operates hospitals under the Medanta brand, on Monday said it plans to invest around Rs 500 crore to set up a 400-bed super speciality hospital in Guwahati, Assam. The company’s board, in its meeting held on Monday, has approved the purchase of 3 acres of land from Assam Electricity Grid Corporation Ltd for Rs 30 crore plus incidental expenses for registration and possession of the land, the healthcare provider said in a regulatory filing.
Dr Reddy’s Laboratories on Monday said it has expanded its partnership with Sanofi Healthcare to introduce a novel drug for the prevention of lower respiratory tract disease in newborns. The company plans to introduce Beyfortus, which contains the monoclonal antibody, nirsevimab, in a prefilled injection used for the prevention of respiratory syncytial virus (RSV) lower respiratory tract disease (LRTD) in newborns and infants. The medication is also administered in children up to 24 months of age, who remain vulnerable to severe RSV disease through their second RSV season.
Embassy Office Parks REIT has raised Rs 675 crore as short-term debt by issuing commercial papers to repay its existing borrowing and meet working capital requirement. In April this year, the company had informed about issuance of listed, rated, redeemable, rupee denominated commercial papers, for an aggregate amount of Rs 675 crore on a private placement basis.
Landmark Cars informed the exchanges that it has sold its Jeep Punjab business, consisting of two showrooms and one workshop. With this, Landmark Cars has completely exited from Punjab. This move aligns with the company’s strategy to consolidate operations and rationalize costs.
IndusInd Bank on Monday announced the resignation of deputy CEO Arun Khurana, weeks after the private lender discloseaccounting lapses in its derivatives portfolio that triggered a rout in its shares. In light of the recent accounting issues related to internal derivative trades “I having oversight of the Treasury Front office function, as the whole time director, Deputy CEO and a part of senior management of the bank, hereby resign, effective immediately,” Khurana wrote in a letter to IndusInd Bank’s board that was included in a stock market filing.
CG Power and Industrial Solutions’ CG Pumps has launched SmartSENSE — India’s first cordless, float-free automatic water pump controller. This cutting-edge system eliminates the need for manual wiring and float switches, offering a truly smart and intelligent water control solution for Indian households. Some key features of SmartSENSE include — Float-Free Detection, 100% Cordless Operation, Automatic Start/Stop, Dry Run Protection, Multiple Tank Connectivity etc.
The board of Zinema Media & Entertainment has approved the proposal to acquire up to 60% of the equity share capital of Bontyme Technologies, a company engaged in Focusing on creating a networking platform for media professionals and movie recommendation engine. The acquisition is proposed to be carried out through a share swap arrangement, wherein the shareholders of M/s Bontyme Technologies shall be allotted equity shares of the company on a preferential basis.
Results calendar: Bajaj Finance, Bajaj Finserv, Capital Small Finance Bank, Bharat Petroleum Corporation, NTPC Green Energy, Trent, Ambuja Cements, IndiaMART InterMESH. Ceat, Fedbank Financial Services, Five-Star Business Finance, Indo Star Capital Finance, Jana Small Finance Bank, Praj Industries, Punjab & Sind Bank, Schaeffler India, Shoppers Stop, Star Health and Allied Insurance, Trent, UTI Asset Management Company, Welspun Speciality Solutions and Vishal Mega Mart,
Published on April 29, 2025
