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On March 24, the NPCI published Wallet Interoperability Guidelines. Paytm Payments Bank will now earn 1.1% interchange income when Paytm Wallet consumers pay for goods and services at merchants owned by other payment aggregators or banks. Paytm Payments Bank will pay 15 basis points (bps) for adding more than Rs 2,000 via UPI, and will earn 15 basis points when other wallets use the bank to add more than Rs 2,000 via UPI. UPI payment retailers are being acquired by Paytm Payments Bank.
AMG Media Networks, a subsidiary of the firm, has finalised the acquisition of a 49% ownership investment in Quintillion Business Media (QBML) for Rs 47.84 crore. QBML provides a unique business and financial news platform on digital media.
Lemon Tree Hotels
Under the moniker ‘Keys Prima by Lemon Tree Hotels, Thekkady,’ the business has established its sixth hotel in Kerala. This motel has 42 comfortable rooms. Carnation Hotels, a subsidiary, manages the hotel.
Japan Bank for International Cooperation has provided the company with GREEN Financing of around Rs 915 crore. The loan is co-financed by private Japanese financial firms. The existing debt’s goal is to fund the 90 MW Omkareshwar floating solar power project in Madhya Pradesh and the 100 MW Raghanesda solar power project in Gujarat, with a total projected cost of Rs 1,288.35 crore.
The company was deemed the lowest bidder for a motorway project in Uttar Pradesh under the Ministry of Road Transport & Highways on a Hybrid Annuity Mode, with a bid project cost of Rs 819.0 crore. The project will be finished in 24 months and will remain operational for 15 years after that.
The company has been declared the L-1 bidder for the new HAM project ‘Bengaluru – Vijayawada’ in Andhra Pradesh under the Bharatmala Pariyojana Phase-I. The project is valued at Rs 780.12 crore.
The company has received orders for warfare systems worth Rs 4,300 crore from the Indian Army and Indian Navy.
The company got a form 483 from the US FDA with two minor procedural observations for the Karkhadi plant. The plant was examined by the drug regulator from March 16 to 24, 2023.
The Reserve Bank of India has permitted the company to continue with its online payment aggregation (PA) operation while it awaits clearance from the Government of India for previous investment from OCL.
The company announced that it will purchase 67 percent of Lotus Surgicals Private Ltd’s equity share capital, with Premji Investments acquiring the remaining 33 percent. The overall purchasing cost will be up to 232.81 crore.
The merger of L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with the company was authorised by the Reserve Bank of India.
Dalmia Cement Ltd, a subsidiary of the company, would sell 42.36 percent equity shares in associate company Dalmia Bharat Refractories Ltd to Sarvapriya Healthcare Solutions for Rs 800 crore.
The company will increase the ex-showroom costs of several motorbike and scooter models beginning April 1, 2023. The price increase, which will be roughly 2% on average, is mostly due to expense increases associated with the OBD 2 changeover. The precise magnitude of the increase will differ depending on the model and market.
On March 23 and 24, the government will sell a 3.5 percent ownership in the company through an offer-for-sale.
The board of directors of the company authorised the proposal to expand operations in crop protection chemicals and to enter the contract development and manufacturing organisation industry. The board also authorised a plan to expand into new development sectors, such as specialised and industrial chemicals. The company intends to invest Rs 1,000 crore in these companies over the next two years.
The company has struck an agreement with BHEL to manufacture cylinders, blend hydrogen in CGD, and develop a fuel cell-based power backup system.
The National Highways Authority of India has designated the company as an L-1 bidder for a road project in Jharkhand. The project would cost Rs 764.01 crore and will take 730 days to complete.
The company has inked an Electrolyzer Manufacturing Binding Agreement with McPhy Energy of France for a long-term relationship to investigate the developing Green Hydrogen industry.
Coya Therapeutics signed a global agreement with Dr Reddy’s Laboratories to in-license Dr Reddy’s planned Abatacept biosimilar for the development of Coya’s combo therapy for neurodegenerative illnesses, COYA 302.
On Monday, the company announced the signing of a Memorandum of Understanding (MoU) with Noida-based infrastructure and renewable firm Jakson Green for clean energy engineering, procurement, and construction (EPC) projects worldwide.
On Monday, the company announced that it has chosen to halt key equipment procurement and site building efforts for its green PVC project.
The bank collected Rs 300 crore through the private offering of 30,000 non-convertible bonds in the form of debentures with face values of Rs 1 lakh apiece.
The board of directors of the company has declared an interim dividend of Rs 2 per share for the fiscal year 2022-23. The total cost of the interim dividend will be Rs 37.66 crore. The record date for stockholders who will be eligible for the dividend is March 31, 2023.
SBI Mutual Fund purchased 47.33 lakh shares in the AMC through open market transactions for Rs 757.4 crore at an average price of Rs 1,600 per share.
TCS Stock News
Rajesh Gopinathan has resigned as the company’s Chief Executive Officer and Managing Director, effective September 15, 2023. K Krithivasan has been named CEO Designate, effective March 16. Subject to shareholder approval, he will take over as CEO and MD of TCS in the following fiscal year.
Hindustan Aeronautics Limited Stock News
The Defence Ministry has approved plans to purchase weapons worth Rs 70,000 crore, with HAL receiving nearly half of the contracts. The procurement of 60 UH Marine helicopters from Hindustan Aeronautics Limited (HAL) is valued at Rs 32,000 crore.
Dr Reddy’s Laboratories Stock News
The company has chosen to sell certain non-core dermatological products to Eris Lifesciences for Rs 275 crore. Eris Lifesciences will acquire these brands’ trademarks for Rs 275 crore, and the businesses have signed an agreement to that effect.
IRCON International Stock News
The company has provided a corporate guarantee to SBICAP Trustee Company in exchange for the State Bank of India extending a term loan of Rs 447.61 crore to IrconHBL, special purpose vehicles, and wholly owned subsidiaries.
Rail Vikas Nigam Stock News
The company was chosen as the lowest bidder (L1) for the supply, installation, testing, and commissioning of 11 KV line-related operations in Madhya Pradesh’s Jabalpur Company Area. The project costs Rs 111.85 crore sans taxes.
Voltas Stock News
UMPESL, a subsidiary of the Company, has received orders for solar and electricity distribution projects worth Rs 1,770 crore. In the electrical power distribution sector for FY23, the businesses have received numerous SITC project contracts for Rs 1,770 crore, including a solar power project.
Indiamart Intermesh Stock News
Ten Times Online’s full 30% ownership position will be sold by the Company. The company has entered into a share purchase agreement to sell 18,701 equity shares for Rs 12.1 lakh in an effort to disinvest its entire 30% ownership in Ten Times Online.
Indian Oil Corporation Stock News
The company announced the foundation of a new wholly-owned subsidiary on Wednesday that would focus on clean and green energy enterprises.
Sona BLW Precision Forging Stock News
On March 13, GIC Private Ltd, on behalf of the Government of Singapore and the Monetary Authority of Singapore, purchased an additional 5.13 percent share in the firm through open market transactions.
Federal Bank Stock News
The bank’s board of directors will meet on March 18 to discuss a plan to raise money through the private placement of unsecured Basel III Tier-II subordinate bonds in the form of debentures worth Rs 1,000 crore.
Ramakrishna Forgings Stock News
The Ministry of Railways has designated a company in cooperation with Titagarh Wagons to be the lowest bidder (L1) for producing and delivering forged wheels under the ‘Atmanirbhar Bharat’ project.
NBCC Stock News
The Government of Puducherry has awarded the company a Rs 500 crore contract for the development of a medical college.
JSW Energy Stock News
The company obtained Rs 250 crore through non-convertible debentures after its Finance Committee approved the issuance of 25,000 non-convertible debentures for Rs 1 lakh apiece. In October of last year, the board approved the private placement of NCDs worth up to Rs 2,500 crore. The maturity date is March 13, 2026.
Orient Paper Stock News
The company’s board of directors has authorised a capital investment of Rs 475 crore for the renovation and debottlenecking of its manufacturing facilities in Amlai, Madhya Pradesh. The project, which is expected to take 24 months to complete, will increase the paper mill’s working capacity to 400 tonnes per day.
Tube investments Stock News
The company has agreed to form a subsidiary to pursue the CDMO business with N Govindarajan. N Govindarajan will contribute up to Rs 15 crore, while the corporation would invest up to Rs 285 crore.
Lupin Stock News
The USFDA concluded its investigation of the company’s bioresearch facility in Pune with no findings. In-vitro BE and biosimilar investigations are carried out at the Centre.
Sona BLW Precision Forging Stock News
Through bulk transactions on the open market, Blackstone and its affiliates sold 20.5 % of the company.
Tata Power Stock News
Tata Power Renewable Energy has inked a power purchase agreement with Tata Power Delhi Distribution for a 510-MW hybrid project. The project would include 170 MW of solar electricity and 340 MW of wind power, the businesses notified the exchanges on March 13.
Krsnaa Diagnostics Stock News
In order to provide Lab Investigation Facilities for BMC Dispensaries and Hospitals in Mumbai under Hinduhridaysamrat Balasaheb Thakeray Chikitsa, the Company says it has operationalized 100 additional Pathology Collecting Centers. As a result, the Company has 300 Pathology collecting locations active as of now.
Tata Chemicals Stock News
Fitch Ratings on March 13 revised the outlook on the Company’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Positive from Stable and affirmed the rating at ‘BB+’.
Gail(India)Ltd Stock News
The Company issued a 40% interim dividend on paid-up equity share capital for FY23, or Rs 4 per equity share. The entire dividend amount will be Rs 2,630 crore, with a March 21 record date. The Government of India will get a dividend of Rs 1,355 crore based on its ownership, while other shareholders will receive Rs 1,275 crore.
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