ITC Hotels Ltd. will be demerged from ITC Ltd., with the record date for the company for demerger and the ex-date for the shares of ITC set at January 6. The restructuring will see ITC retain a 40 per cent stake in its hotel business, with the remaining 60% directly held by shareholders through a rights entitlement. Shareholders will receive one ITC Hotels share for every 10 ITC shares they own. According to the exchanges, the changes will also reflect in the derivative segment. ITC will be traded (without hotel business price) based on discovered price and new option strikes would be introduced.
Hindustan Unilever Ltd (HUL) is in talks to acquire the direct-to-consumer brand Minimalist. The Fast-Moving Consumer Goods(FMCG) maker could acquire the D2C brand at ₹3,000 crore. In a bid to expand its portfolio and reach to new age consumers, FMCG companies have been eyeing to acquire direct-to-consumer brands.
Agrochemical firm Crystal Crop Protection has acquired the herbicide active ingredient Ethoxysulfuron from Germany’s Bayer AG for sales in select Asian markets, in a deal expected to boost its earnings by 20 per cent. The acquisition includes Bayer’s ‘Sunrice’ trademark and mixture products containing Ethoxysulfuron, along with all related registrations. The herbicide is used to control broad-leaved weeds and sedges in rice and cereal crops.
The Reserve Bank of India (RBI) has granted approval to HDFC Bank to acquire a maximum stake of 9.50 per cent stake in AU Small Finance Bank within one year from the date of RBI approval letter. If this condition is not met, the central bank’s approval will be revoked. AU Small Finance Bank (SFB) has received a copy of an RBI letter, granting approval for HDFC Bank and its group entities (including HDFC Mutual Fund, HDFC Life Insurance, HDFC Pension Management, HDFC ERGO General Insurance, and HDFC Securities) to acquire up to 9.50 per cent of AU SFB’s paid-up share capital or voting rights within one year.
Kotak Mahindra Bank has announced that Milind Nagnur, currently serving as the chief operating officer (COO) and chief technology officer (CTO) of the bank, has tendered his resignation due to personal reasons. His resignation will take effect from February 15, 2025.
A minor fire incident occurred in one of the electrical control rooms at Tata Elxsi’s premises located at Neyyar, Technopark campus in Trivandrum on the evening of January 3. The fire was swiftly brought under control, and the emergency procedures worked as designed. There has been no substantial loss of property or any injuries suffered by any personnel. The incident has not impacted our business operations and normal operations will resume from Monday, the company said in a notice to the stock exchanges.
KNR Constructions is in receipt of Letter of Acceptance for Irrigation & CAD Department- SRLIP to Paleru Link Canal – Package no. 13 – Earthwork excavation, formation of embankment and providing CC lining including construction of CM & CD structures works on SRLIP to Paleru link, Khammam, Telangana, awarded to KNR-ACPL-SVK (JV) (KNRCL – 51%, ACPL – 20%, SVK-29%), worth Rs 198.28 crore excluding GST.
Updater Services has informed the exchanges that Raghunandana Tangirala, Managing Director of the Company, has been fully discharged from the offences tried through CC No. 6549 of 2023 on the file of Chief Metropolitan Magistrate court, Egmore, Chennai. The Tamil Nadu Chemists and Druggists Educational Trust represented by its executive trustee, KK Selvan had filed a first information report dated March 17, 2022, (before the police station at Vepery, Chennai against several persons including our Chairman and Managing Director and Promoter, Raghunandana Tangirala alleging that he was wrongfully sold a property on April 11, 2007 at Okkiam Thoraipakkam village, Kancheepuram District, Chennai. It was further alleged that he was fraudulently sold the property by a representative of Harish Mehta and Uday Mehta who claim to be the legal heirs of the Property and who have allegedly forged the Property documents and sold it to Raghunandana Tangirala.
NTPC Renewable Energy Ltd has secured a 1,000-MW solar power project from Uttar Pradesh Power Corporation Ltd (UPPCL). NTPC REL secured a capacity of 1,000 MW at a tariff of Rs 2.56/kWh, a regulatory filing said on Saturday. According to the filing, the letter of award from UPPCL is awaited. NTPC Renewable Energy Limited (NTPC REL), a wholly-owned subsidiary of NTPC Green Energy Ltd.
Fair trade regulator CCI has dismissed allegations of abuse of dominance against Coal India concerning its e-auction scheme introduced in December 2022, ruling that the state-owned company had not violated norms. Coal India Ltd (CIL), a Maharatna public sector undertaking under the Ministry of Coal, is the single-largest coal producing company in the world.
HDFC Bank, on Saturday said it has registered a marginal 3 per cent increase in loan growth at Rs 25.42 lakh crore in the December quarter. Total advances were Rs 24.69 lakh crore at the end of December 31, 2023, HDFC Bank said in a regulatory filing. The lender reported a 15.8 per cent rise in total deposits to Rs 25.63 lakh crore as against Rs 22.14 lakh crore at the end of the third quarter of the previous financial year.
IDBI Bank on Saturday said it has posted a credit growth of 18 per cent at Rs 2.06 lakh crore during the December quarter. Total advances were Rs 1.75 lakh crore at the end of December 31, 2023, IDBI Bank said in a regulatory filing. The lender reported a 9 per cent rise in total deposits to Rs 2.82 lakh crore as against Rs 2.58 lakh crore at the end of the third quarter of the previous financial year.
Megastar Foods has settled with capital markets regulator Sebi a case pertaining to the alleged violation of disclosure norms after paying Rs 20.15 lakh towards settlement charges. The order came after the applicant, Megastar Foods, proposed to settle the proceedings initiated against it, without “admitting or denying the facts and conclusions of law”. “In view of the acceptance of the settlement terms… the adjudication proceedings initiated against applicant, vide SCN dated May 13, 2024 is disposed of in terms of the settlement regulations,” Sebi said.
Ashoka Buildcon has invested rs 4 crore in its subsidiary Viva Infrastructure. In a disclosure to the exchanges, the company said it has been allotted 40,02,250 equity shares of Rs.10 each aggregating Rs.4.02 crore, under Rights Issue, by Viva Infrastructure Limited (VIL), a wholly owned subsidiary,
Four Kirloskar companies on Saturday said they have filed an appeal before the Securities Appellate Tribunal challenging the SEBI letter asking them to disclose the deed of family settlement that was signed by members of the Kirloskar family on September 11, 2009. In a joint statement, the Kirloskar companies — Kirloskar Ferrous Industries Ltd (KFIL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd, Kirloskar Oil Engines Ltd — said they have filed the appeal before SAT challenging the SEBI letter dated December 30, 2024 wherein the market regulator advised them to disclose the Deed of Family Settlement (DDS). On December 31, these companies stated that they were preparing to legally challenge the letter by SEBI.
Brigade Enterprises has acquired 20-acre land in Bengaluru for about Rs 630 crore to develop a housing project. In a regulatory filing, the company has signed a definitive agreement for a prime land parcel located on Whitefield-Hoskote Road, Bengaluru. “Spanning about 20 acres, the residential project will have a total saleable area of approximately 2.5 million (25 lakh) sq ft, a Gross Development Value (GDV) of about Rs 2,700 crore, and a total land cost of about Rs 630 crore, through its subsidiary Ananthay Properties Pvt Ltd,” the company said.
The Securities and Exchange Board of India (Sebi) has issued an administrative warning to JM Financial for regulatory non-compliance. It issued a letter on January 2, JM Financial said in a regulatory filing. “Issuance of administrative warning to the company in relation to the initial public offering of equity shares by one of its clients namely Western Carrier (India) Ltd,” it said.
Godrej Agrovet has announced pig feed range ‘Pride Hog’ that aims to provide optimal nutrition at each stage of a pig’s lifecycle. Pride Hog offers a high-quality, research-backed feed solution that enhances pig health, boosts immunity and maximises growth potential. The range includes ‘Starter’, ‘Grower’, and ‘Finisher’ variants.
