Finolex Cables: Even as proxy advisory firms have flagged corporate governance issues at
and also advised shareholders to vote out three directors at the annual general meeting slated for Tuesday, the company publicly accused Prakash Chhabria, the cousin of Deepak Kisandas Chhabria, of instigating shareholders and creating the controversy.
Shyam Metalics: The company said it will invest Rs 850 crore in the current fiscal as part of its Rs 2,960-crore capital expenditure plan to double its steel-making capacity and foray into the aluminium foil sector.
Reliance Industries: RIL is in talks to invest between $200 million and $250 million in InMobi’s lock screen content platform Glance, multiple people in the know told ET.
SBI: Lenders led by State Bank of India (SBI) are set to log recoveries of Rs 37,400 crore this week, as Piramal Capital and Housing Finance’s (PCHF) acquisition of Dewan Housing Finance (DHFL) should be completed this month itself, multiple people aware of the deal told ET.
Maruti Suzuki: The auto maker has told its component suppliers to be ready for the production of 160,000-180,000 cars and SUVs in October, as the nation’s largest passenger vehicle maker is making arrangements to secure supply of chipsets through multiple channels, people in the know said.
JSPL, Kwality Dairy: Sarda Mines, a company affiliated with Jindal Steel and Power Limited (JSPL), has emerged as the winning bidder for Kwality Dairy after the milk and dairy products manufacturer was put on auction through an e-bidding process, according to people in the know. The Jindal group firm won the e-bid process with an offer of ₹121 crore, said the people.
GAIL: Record-high liquefied natural gas (LNG) prices will hurt the sector in the long run, slow industries’ switch to natural gas, and delay India’s plan of launching LNG-powered trucks, GAIL chairman Manoj Jain has said.
Whirlpool India: Elica PB India will become a majority-owned subsidiary of Whirlpool India and its financial statements will be consolidated within Whirlpool India. Whirlpool India currently owns a 49 per cent stake in the Elica PB India and will acquire an additional 38 per cent equity interest for $57 million to bring its total equity ownership to 87 per cent.
Adani Enterprises: Adani Airport Holdings will acquire a majority stake in April Moon Retail (AMRPL) for a strategic partnership to operate duty free outlets at ariports. A wholly-owned subsidiary of Adani Enterprises, Adani Airport Holdings Ltd (AAHL) has signed a share subscription agreement with AMRPL and its existing shareholders namely Arjun Ahuja, Karan Ahuja, Aaliya Ahuja and Kabir Ahuja.
REC: State-owned REC has got shareholders’ approval to raise up to Rs 85,000 crore through issuance of non-convertible bonds or debentures.
Power Grid: State-owned Power Grid Corporation of India Ltd (PGCIL) has received shareholders’ approval to raise up to Rs 6,000 crore through bonds or debentures on a private placement basis.
Force Motors: The company launched the all new version of its sports utility vehicle Gurkha with price starting at Rs 13.59 lakh (ex-showroom). The Pune-based company said that customers could pre-book the Gurkha with the dealers by paying Rs 25,000.
HDFC Bank: The bank said it has raised Rs 5,000 crore by issuing bonds on a private placement basis.
EaseMyTrip: Travel technology provider InterGlobe Technology Quotient has signed a pact with online travel portal, EaseMyTrip for seamless access to ITQ’s travel commerce platform (1G)– Travelport, a release said on Monday.
Omaxe: Realty firm Omaxe on Monday announced the appointment of Sunil Goel, brother of its chairman and MD Rohtas Goel, as additional director (executive), signalling a truce between the warring brothers.
Raymond: Fabrics and garments major Raymond said its board has approved a consolidation exercise, including the combination of its tools and hardware, and auto components businesses with its engineering business to improve synergies and explore monetisation options.
ZEE Entertainment: Sebi on Monday confirmed its earlier directive passed against five persons wherein they were barred from the securities market for indulging in insider trading in the scrip of Zee Entertainment Enterprises Ltd.
HDFC: The country’s largest mortgage lender Housing Development Finance Corporation (HDFC) will raise up to Rs 6,000 crore by issuing bonds on a private placement basis to augment its long term resources.