Nifty futures on the Singapore Exchange traded 52.5 points, or 0.28 percent lower at 18,615.5, indicating that Dalal Street was off to a negative start on Friday.
PNB/UTI AMC: The Punjab National Bank (PNB) said on Thursday that it has received government approval to divest its entire stake (15.22 percent) in UTI Asset Management Company as part of its non-core sale plan to sell its base capital reinforcement. Read here
SBI: State Bank of India (SBI), the country’s largest lender, plans to raise Rs 10,000 crore in infrastructure bonds during the current financial year. read more
HDFC Bank: The private sector lender has decided to elevate Kaizad Bharucha as deputy general manager and appoint Bhavesh Zaveri to the board of directors as full-time executive director. read more
Tube Investments of India: The Murugappa Group company has acquired a 50 percent stake in X2Fuels and Energy, an early-stage start-up incubated in the National Center for Combustion Research and Development (NCCRD) at IIT Madras. Read here
Indian Oil Corporation: ICICI Bank, ICICI Prudential Life Insurance, HDFC Life Insurance and SBI Life Insurance have entered into agreements to invest seed capital of a proposed joint venture of Indian Oil Corporation and Chennai Petroleum Corporation. The project is expected to generate an investment of Rs 31,580 crore.
TVS Motor: The company has expanded its global footprint and launched its first showroom in Singapore.
Tata Steel Long: The company has further acquired 46.87 million shares at a premium of Rs 54 per share Neelachal Ispat Nigam for Rs 300 crore (tranche 2).
PVR: PVR has opened 12 screen superlex in Thiruvananthapuram, Kerala.
Lupine: The US FDA has issued a Form-483 with eight observations each for the drug facility and the API facility of the company’s Mandideep unit-1.
West Coast Paper Mills: ICRA has revised its long-term rating from AA- to AA.
Veranda Learning Solutions: The company has partnered with IIM Raipur and SHRM (Society for Human Resource Management) to launch an Executive Post Graduate Program (Online MBA) in HR Management.
Biocon: Biocon Biologics, the subsidiary of the major biotechnology, has allocated shares worth Rs 2,205.63 crore as part of a share injection to fund its acquisition of Viatris Inc’s biosimilars business. In February, Biocon Biologics signed a pact to acquire the biosimilars business of Viatris Inc for approximately $3.34 billion.
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