Fast-moving consumer goods giant ITC Ltd. announced that January 1, 2025, would be the effective date for the demerger of its hotels business into ITC Hotels Ltd. The record date has been set as 6 January 2025, marking a key milestone in the long-planned demerger process. Approval from NCLT and Shareholders The National Company Law …
Muthoot Capital Services Limited (MCSL), a leading provider of fund-based financial services, has informed the stock exchanges of an upcoming meeting to approve the issuance of non-convertible debentures (NCDs). Scheduled for December 20, 2024, this meeting will address a key decision that could influence the company’s financial structure. Regulatory Filing Highlights In its regulatory filing …
In a significant legal development, Mangalam Organics Limited and Patanjali Ayurved Ltd continue their legal battle over trademark infringement. On 16th December 2024, the Bombay High Court provided interim relief to Patanjali Ayurved by staying a ₹4 crore penalty imposed by a lower court. On December 18, 2024, Mangalam Organics commenced trading on the National …
On December 17, 2024, Supriya Lifescience Ltd. (SLL), a leader in the pharmaceutical industry, announced that it has commenced a new multipurpose Active Pharmaceutical Ingredients (APIs) production block, Module E, at the Lote Parshuram site. The company in the exchange filing stated that this facility, developed with an investment of approximately ₹125 crore, adds a …
Shares of TARC Ltd. dropped 10% on Tuesday, hitting the lower circuit limit, after the Securities and Exchange Board of India (SEBI) appointed a forensic auditor to review the company’s financial statements for fiscal years 2020-21 to 2022-23. The move follows concerns about the manner in which TARC disclosed its financial information and business transactions. …
Genesys International Corporation Ltd, a prominent player in geospatial solutions, has secured a substantial project worth ₹56 crore from the Directorate of Land Records and Surveys (DLRS), West Bengal. This initiative aims to overhaul the state’s land records system using cutting-edge geospatial technology, ensuring accuracy, transparency, and efficiency in land administration. Modernising Land Records with …
BCL Industries Limited has unveiled its ambitious plans for capacity enhancement in ethanol and bio-diesel production. Its subsidiary, Svaksha Distillery Limited, has received the consent to establish a 75 KLPD bio-diesel plant along with an oil extraction plant at its Kharagpur unit, with an estimated project cost of ₹150 crore. Simultaneously, BCL Industries has secured …
Vakrangee share price surged over 2% at 11:35 AM on December 17, 2024, rising 2.23% to hit a two-day high of ₹31.31 on the BSE. This was after the company’s announcement on December 13, that its board of directors will meet on Saturday, December 21, 2024, to consider proposals for raising funds. The company plans …
The Indian auto components industry has experienced impressive growth in the first half of FY25, with an 11.3% increase in market size, according to the Automotive Component Manufacturers Association (ACMA). Valued at ₹2.98 lakh crore in H1 FY24, the industry surged to ₹3.32 lakh crore in H1 FY25. This growth reflects strong demand across multiple …
Indoco Remedies Limited informed the stock exchanges that its Plant II and Plant III facility, located at Verna Industrial Estate in Goa, received a warning letter from the US Food and Drug Administration (USFDA) on December 17, 2024. This action follows an earlier inspection conducted by the USFDA from July 16 to July 26, 2024, …
