SMRC Automotive Holdings Netherlands B.V., a wholly-owned subsidiary of Samvardhana Motherson International Limited, has recently set up a new wholly-owned subsidiary named Motherson International Limited, Abu Dhabi. They have received the certificate of incorporation for this new company on August 16, 2024. The acquisition does not involve related party transactions. There are no interests from …
On August 16, 2024, Titagarh Rail Systems Ltd provided a shortfall undertaking for its joint venture, Ramkrishna Titagarh Rail Wheels Limited (RTRWL). This undertaking, dated August 16, 2024, covers certain covenants related to a term loan of ₹1,527 crore that RTRWL is availing. The undertaking is proportionate to the company’s 49% shareholding in RTRWL, with …
On August 17, 2024, Genus Power Infrastructures Limited announced that its wholly-owned subsidiary secured 3 Letters of Award (LOA), totalling ₹2,925.52 crore (excluding taxes). These contracts are for the role of Advanced Metering Infrastructure Service Providers (AMISPs). The scope of work includes designing an Advanced Metering Infrastructure (AMI) system and supplying, installing, and commissioning approximately …
On August 17, 2024, Brigade Group, a well-known property developer in India, teamed up with global hospitality company Accor to launch the Ibis Styles Mysuru on KRS Road. This is the fourth hotel they’ve opened together and their second in Mysuru, following the Grand Mercure Mysuru. Ibis Styles Mysuru aims to offer a unique hospitality …
Adani Wilmar Ltd., a prominent player in the Indian agribusiness sector, has successfully expanded its reach into the chemical manufacturing industry. By acquiring a significant stake in Omkar Chemical Industries Pvt. Ltd., the company is poised to enhance its production capabilities and strengthen its position in the market. Adani Wilmar Finalizes Major Acquisition Adani Wilmar …
Shares of Morepen Laboratories have been on a remarkable upward trajectory, with the stock surging 16% on Monday to reach a fresh three-year high. The stock opened at Rs 61.50 and continued to strengthen throughout the day, touching an intraday high of Rs 71.50. This rally has caught the attention of investors and analysts alike, …
Introduction to Kitex Garments Ltd (KGL) Incorporated in 1992, Kitex Garments has grown under the leadership of Mr. Sabu Jacob to become a significant player in the global infantwear market. Alongside its sister company, Kitex Childrenswear Ltd (KCL), which holds a 15.9% stake in KGL, the company manufactures and exports high-quality infant garments to prominent …
Hero MotoCorp, formerly known as “Hero Honda,” is one of India’s biggest motorcycle manufacturers, announced on Sunday that it has received a major tax demand notice from Delhi GST authorities, of over Rs.17 crore. The notice, dated August 17, 2024, majorly talks about the disallowance of input tax credit for the financial year 2019-20. According …
Zomato, a food delivery and restaurant search engine, has said that it will start eliminating photographs of dishes produced by artificial intelligence (AI) from its platform. This choice was made in response to several consumer complaints about how deceptive these photos were. Zomato’s CEO, Deepinder Goyal, responded to the complaints made by users in a …
On August 14, 2024, Panacea Biotec Limited, a leading pharmaceutical and biotechnology company, announced in an exchange filing that it had started a Phase III clinical trial of its tetravalent dengue candidate vaccine, DengiALL, in India with the Indian Council of Medical Research. The trial commenced after receiving approval from the Drugs Controller General of …
