IndusInd International Holdings Limited(IIHL), is the promoter of India’s fifth largest private sector lender, IndusInd Bank and is also the group which got a nod from NCLT for the buyout of Reliance Capital under the insolvency code. The Mauritius-based holding company also holds a 60% stake in Invesco mutual funds. The group is now aiming …
Ujjivan SFB Undergoes Leadership Change The Reserve Bank of India (RBI) recently made waves by allowing eligible Small Finance Banks (SFBs) to apply for universal banking status. Amidst this development, Ujjivan Small Finance Bank (SFB) caught the market’s attention by announcing the appointment of Mr. Sanjeev Nautiyal as its new Managing Director and Chief Executive …
Godrej Properties aims to launch residential projects worth ₹30,000 crore in FY 2025, across major cities in India to attain a 20% growth in sales bookings amid robust demand. The Executive Chairman of Godrej Properties Limited, Pirojsha Godrej, said, “We have given a sales bookings guidance of ₹27,000 crore for the current fiscal, a 20% …
On May 4, 2024, EPACK Durable Limited informed the stock exchanges about the ongoing merger of EPACK Components Private Limited (ECPL), the company’s Wholly-Owned Subsidiary, into EPACK Durable Limited. The transferor company i.e., EPACK Components Private Limited, is involved in the manufacturing of copper tubing parts, sheet metal parts, spare parts for electronic appliances, and …
Sun Pharmaceutical Industries Limited (Sun Pharma) announced a strategic move to bolster its presence in Africa on May 04, 2024. The company entered into an agreement to acquire 100% of the shares of Valstar S.A. (Valstar), which will also indirectly grant Sun Pharma complete ownership of Valstar’s subsidiary, Kemipharm S.A. (Kemipharm). Expanding Manufacturing Capabilities This …
Craftsman Automation Limited, a manufacturer of machined powertrain components, notified the market of significant business development on May 04, 2024. Coimbatore-headquartered Craftsman Automation Limited signed a definitive agreement to acquire the remaining 24% stake in DR Axion India Private Limited (DRAIPL). The acquisition is subject to the terms and conditions mentioned in the agreement. Craftsman …
On May 4, 2024, VA Tech Wabag Limited, a global leader in water treatment technologies, unveiled a groundbreaking initiative – “BLUE SEED”. This program aims to catalyse innovation within the water sector by nurturing and empowering promising startups with disruptive water technology solutions. Vision for a Sustainable Water Future: BLUE SEED aims to be a …
Zydus Lifesciences Limited announced a positive development on May 04, 2024. Its wholly-owned U.S.-based biopharmaceutical company, Sentynl Therapeutics, Inc. (Sentynl), successfully acquired Eiger BioPharmaceuticals, Inc.’s Zokinvy® (lonafarnib) program. Significance of Zokinvy® Zokinvy® represents a significant advancement in treating Progeria, Hutchinson-Gilford Progeria Syndrome (HGPS), and Processing-Deficient Progeroid Laminopathies (PDPL). These ultra-rare and fatal genetic diseases cause …
Top Public Sector Banks like State Bank of India, Canara Bank Punjab National Bank and every other PSU bank are all trading down by 2-5% from their previous day’s closing price as the Reserve Bank of India proposes to tighten Lending for Project Finance. What is coming From RBI? The Reserve Bank of India has …
On May 03, 2024, Nifty 50 and Sensex slipped 0.76% and 0.98% to 22,475 and 73,878, respectively. Foreign Institutional Investors (FII) sold securities worth around ₹2,391 crore, while domestic investors bought shares worth ₹690 crore. Top Gainers and Losers On the sectoral front, Nifty Mid Small Healthcare, Nifty Healthcare aur Nifty Pharma ended in green. …
