Actions to watch: Benchmarks Sensex and Nifty are expected to continue the gains from the previous session with a positive start on Thursday. As of 07:06, the SGX Nifty Futures was reading 15,989 levels, signaling a rise of around 33 points on the Nifty50.
Syngene: After the controversy surrounding the Central Drugs Standards Control Organization (CDSCO) and Biocon Biologics emerged, another branch of the Biocon group, Syngene International, distanced itself from Bioinnovat Research Services, whose promoter was mentioned in the anti-graft case. The company recently terminated its mandate consulting contract with Bioinnovat. Read here
Spice spray: The Directorate General of Civil Aviation (DGCA) on Wednesday issued a show cause notice to SpiceJet for its failure to establish “safe, efficient and reliable services”. The regulator has given SpiceJet three weeks to explain why action should not be taken against the airline. SpiceJet denied any violations on its part and said it was committed to ensuring safe operations. Read here
NTPC/ Gujarat Alkalis: NTPC Renewable Energy (NTPC REL), a wholly-owned subsidiary of NTPC, on Wednesday signed a memorandum of understanding with Gujarat Alkalies and Chemicals to collaborate in setting up the first green ammonia and green methanol projects in India. commercial scale in India.
Electrical network: The company’s board has approved a fundraising of up to Rs 11,000 crore.
IndusInd Bank: The bank announced a strategic partnership with MoEngage, the insight-driven customer engagement platform, to deliver a differentiated digital experience across multiple customer journeys.
Chariots of Titagarh: HDFC Asset Management Company reportedly sold a 2.15% or 25.7 lakh stake in the company through open market transactions. With that, HDFC AMC reduced its stake in the company to 7.02% from 9.17% earlier.
Equitas Small Finance Bank: The small financial bank recorded 22% YoY growth in Q1FY23 gross advances to Rs 21,699 crore and sequential increase was 5%, while deposit growth was 19% YoY and 8% over a quarter to Rs 20,386 crore.
deep industries: The company has received an award letter from the ONGC, for the rental of 1000 HP mobile drilling rigs for the Ahmedabad asset for a period of 3 years. The total estimated value of the said rewards is $19.02 million or Rs 150.24 crore.
Bank of the municipal union: The bank said the board had approved raising additional capital via the QIP route in the amount of Rs 500 crore subject to shareholder approval.
East-West Fund: The company has entered into a share purchase agreement with Unique Airfreight Express and Logistics Private Limited. It will acquire a 37.5% stake in Unique Airfreight Express in the first tranche and the remaining 62.5% stake will be acquired within one year. The acquisition cost is Rs 4 crore.
PBA infrastructure: The company said its board had approved the voluntary delisting of the company’s shares from NSE, but the equity shares would remain to be listed on the BSE.
Veljan Denson: The company has signed a share purchase agreement to acquire a 100% stake in Adan Holdings, for 1.4 million euros. Aban has a stake in hydraulics and engineering companies in the UK. This acquisition will be finalized by August 2022.
Ethos: The company has signed an exclusive distribution agreement with world renowned watch and jewelry brand Jacob & Co. The partnership will unlock access to the brand’s unique collections for Ethos customers across India.