MPhasis: BCP Topco IX Pte likely to sell 10.6% in Mphasis via block deals. Base price is fixed at ₹2,350 per share. Base size of the block is 10.6% with an option to upsize to 15.1%. At the upsized option, the deal will be valued at ₹6,697 crore. There will be a lock-in period of 180 days. At the end of the March quarter, BCP Topco held a 55.45% stake in the company.
Dr. Reddy’s Laboratories: USFDA issues a form 483 with four observations for its API manufacturing facility (CTO-6) in Srikakulam in Andhra Pradesh. The facility was inspected between May 30 to June 7, 2024. Dr. Reddy’s said it will address the observations within the stipulated time.
KEC International: Wins new orders worth ₹1,061 crore across various businesses. T&D business wins orders for projects in India, East Asia Pacific and Americas. The Railways business has won orders in the technologically enabled / conventional segments in India. The Cables business has won orders for supply of conductors and cables from a renowned infrastructure player in India. Year-to-Date order intake now stands at ₹3,000 crore.
Adani Enterprises: Adani Airports handles over one million tonnes of Cargo in financial year 2024 to capture a 30.1% market share. Managed to record 7% year-on-year growth. International cargo tonnage grew by 9% from last year. Leading destinations include Delhi, Bengaluru and Kolkata for the domestic sectors and the UK, UAE, Germany, Netherlands and the US for international sectors.
Godawari Power and Ispat: Board to consider a buyback of equity shares on June 15.
Lupin: Enters into a Business Transfer Agreement with Lupin Life Sciences Ltd., a wholly-owned subsidiary, to carve out its trade generics business in India, as a going concern, on a slump sale basis. The proposal, approved on March 22, 2024, will be effective from July 1, 2024.
Railtel: Won orders worth up to ₹81.6 crore from the National Informatics Centre Services Inc. (NICSI) for the ICT infrastructure.
Jubilant Pharmova: USFDA issues three observations for its contract manufacturing facility at Spokane in Washington. The company will submit an action plan based on the observations.
Wardwizard Innovations: Gets order worth $1.29 billion from Beulah International Development Corporation to revolutionise Philippines Public transport with electric vehicles.
Borosil Renewables: Board approves raising ₹450 crore through a rights issue.
Artson Engineering: Gets Letter of Award for a project worth ₹126.15 crore from the Guwahati International Airport.
IDBI Bank: Gets income tax refund order worth ₹2,701.6 crore for assessment year 2016-17. The bank is in the process of evaluating the implications of this order on financial statements.
RVNL: Emerges lowest bidder for a project from Southern Railways worth ₹156.47 crore.
Uco Bank: Hikes lending rates on three-month and one-year tenor by five basis points from 8.45% to 8.5% and from 8.85% to 8.9% respectively.
Suzlon: Marc Desaedeleer resigns as independent director from June 8, 2024.
Inox Wind: Wind Turbine manufacturer Inox Wind Ltd. has incorporated four wholly-owned subsidiaries namely Junachay Wind Energy Pvt Ltd., Dharvi Kalan Wind Energy Pvt Ltd., Dangri Wind Energy Pvt Ltd., and Kadodiya Wind Energy Pvt Ltd.
Dalmia Bharat: The company on Sunday, June 9, said its wholly-owned subsidiary Dalmia Cement will acquire 26% of equity share capital and 26% of compulsory convertible debentures of Solarcraft Power India 23 Pvt Ltd.
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