Tata Consultancy Services: The country’s largest software exporter has received a contract from Africa’s Absa Corporate and Investment Bank for an undisclosed amount. This will help transform the bank’s investor services operations across Africa and enhance the customer experience.
NTPC: The state-owned power generation giant has announced the first part capacity of 10 MW of the 20 MW Gandhara Solar PV project at Gandhar in Gujarat on commercial operation. With this, standalone installed and commercial capability
will be 55099 MW.
Glenmark Pharmaceuticals: The drugmaker expects the growth of its US business to be flat or at low single digits in 2022-23 amid challenges from falling prices and unexpected product approvals by the USFDA.
Tata Power: An arm of the Tata Group utility firm announced a tie-up with SIDBI to set up 1,000 green energy enterprises in the country. The program will promote sustainable rural entrepreneurship through clean energy and quick facilitation of financial linkages through microgrids.
Bank Of Baroda: The state-owned lender said it would raise Rs 2,500 crore from bonds for business growth. The Bank’s Capital Raising Committee has approved the issuance of Basel III compliant Additional Tier 1 (AT1) bonds in single or multiple tranches.
Grace: Markets regulator SEBI has settled adjudication proceedings against the realty firm and four individuals after their disposal in a case related to alleged fraudulent trading and disclosure omissions. The settlement amount of Rs 2,92,50,000 has been paid by the four persons.
RBL Bank: The private lender said its board has approved raising up to Rs 3,000 crore for the growth of the lender’s business. Fund raising will be subject to the approval of the shareholders.
Godrej Agrovet: The leading diversified agribusiness company announced that it has signed MoUs with the Assam, Manipur and Tripura governments for the development and promotion of palm oil cultivation in three states under the National Mission on Edible Oil-Oil Palm Scheme. India is a net importer of palm oil.
Gillette India: The shaving product maker reported a more than two-fold increase in its net profit to Rs 67.59 crore during the fourth quarter ended June 30, 2022 on account of strong sales growth. The company had made a profit of Rs 27.53 crore in the corresponding quarter of the last financial year.
IIFL Finance: The financial services company said the board of directors of its subsidiary IIFL Home Finance approved the allotment of 53,76,457 equity shares of its subsidiary to Abu Dhabi Investment Authority. The investor will have 20 per cent stake in IIFL Home Finance for Rs 2,200 crore.
Bank of India: The state-run lender announced a tie-up with the Indian Renewable Energy Development Agency (IREDA) on the green finance front. The two entities will work together on co-lending, co-origination and loan syndication in the renewable energy segment.
Lemon Tree Hotel: The hotel chain company has signed a license agreement for a 65-room hotel in Hubballi, Karnataka under its brand ‘Lemon Tree Hotels’. The hotel is expected to be operational by May, 2023.
Electronics: The hardware and equipment firm entered into a business transfer agreement with GTID Solutions Development to acquire its business and intellectual property rights for Rs 2.25 crore. With this agreement, TVS forays into mobile POS software solutions and authentication solutions.