To counter the residual impact of past input costs, Tata Motors has announced a price increase of up to 3% on its commercial vehicles, effective from January 1, 2024. The price hike will be applicable across the entire range of commercial vehicles offered by the automaker.
HCL Technologies Expands Global Delivery Center in Romania
IT services company HCL Technologies (HCLTech) has recently inaugurated its new Global Delivery Center (GDC) in Iasi, Romania. This expansion further solidifies HCLTech’s presence in Romania and reinforces its commitment to the country as part of its nearshore strategy to serve global clients.
Max Healthcare Acquires Stake in Starlit Medical Centre
Private healthcare provider Max Healthcare Institute has signed a binding Share Purchase Agreement (SPA) to acquire a 100 percent stake in Starlit Medical Centre Pvt. Ltd. (Starlit) for a total enterprise value of Rs 940 crore.
Cipla Recalls Medication in the US
Pharmaceutical company Cipla has voluntarily initiated a recall of one lot of Vigabatrin for Oral Solution, USP (500 mg), in the United States. The recall is due to seal integrity issues in the packaging, which may result in powder leakage from the pouch.
Financial Results of Fedbank Financial Services and SpiceJet
The boards of Fedbank Financial Services and SpiceJet will convene on December 11 to consider the unaudited financial results for the quarter and half-year ended September 2023. The market will closely monitor the outcome of these meetings.
Sudev Industries Announces Stock Split
Sudev Industries has declared a stock split, reducing the face value of its shares from Rs 10 to Rs 5, effective from December 11. This decision aims to improve liquidity and make the company’s shares more affordable for investors.
Torrent Power Signs Agreement for Solar Power Offtake
Torrent Power, through its subsidiary Torrent Saurya Urja 3 (TSU3PL), has entered into an Amendment Agreement with Automotive Axles for the offtake of an additional 4 MWp solar power generated from TSU3PL’s project in Mysore, Karnataka. This agreement strengthens the partnership between the two companies in the renewable energy sector.
Softbank’s SVF Growth Exits Zomato
Softbank-owned venture capital fund SVF Growth (Singapore) Pte Ltd has sold its remaining 9.35 crore equity shares of food delivery giant Zomato through open market transactions. This exit marks an important development in the ownership structure of Zomato.
Steel Exchange India to Hold Extraordinary General Meeting
Steel Exchange India will hold an extraordinary general meeting on December 11. The meeting will discuss important matters related to the company and is expected to have an impact on the stock’s performance.
Bank of India Successfully Concludes QIP
Public sector lender Bank of India has successfully closed its qualified institutions placement (QIP), raising Rs 4,500 crore at an issue price of Rs 100.2 per share. The issue price represents a discount of 4.95 percent to the floor price of Rs 105.42 per share.
Lloyds Metals and Energy Announces Expansion Plans
Lloyds Metals and Energy has received board approval for the expansion of its iron ore mining capacity up to 55 million tonnes per year. The company also plans to establish a 45 million tonnes per annum Banded Hematite Quartzite (BHQ) Beneficiation plant in Gadchiroli district.
Spandana Sphoorty Financial to Consider Non-Convertible Debentures
Microfinance company Spandana Sphoorty Financial has scheduled a meeting of the Management Committee of the board of directors on December 13 to discuss the issuance and offer of non-convertible debentures on a private placement basis.
Managing Director Resigns from Amrapali Fincap
Hasmukh Arvindbhai, the Managing Director of Amrapali Fincap, has resigned from his position, citing personal and unavoidable circumstances. The company will undergo a leadership transition as a result of this resignation.