Adani Group will merge its recently acquired Sanghi Industries and Penna Cement with Ambuja Cements to consolidate cement operations in one unit, the conglomerate said Tuesday. Ambuja Cements, on Tuesday, announced separate schemes of arrangement of its subsidiaries Saurashtra-based Sanghi Industries (SIL) and Andhra Pradesh-based Penna Cement Industries Limited (PCIL).
Supriya Lifescience has inaugurated a Rs 120-crore multipurpose Active Pharmaceutical Ingredients (APIs) production block in Ratnagiri district’s Lote Parshuram. The unit adds a capacity of 335 kilolitre to the company’s operations and will expand Lote Parshuram capacity by over 55 per cent to 932 KLPD, as per a statement.
Birla Estates has bought 70.92 acre land in Boisar, Maharashtra, for Rs 104.3 crore. Birla Estates is a wholly owned subsidiary of Aditya Birla Real Estate Ltd (formerly Century Textiles and Industries Ltd).
Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility on Tuesday announced a strategic partnership with Mufin Green Finance for exclusively providing customised financing solutions to its electric cargo three-wheeler and electric passenger rickshaw customers. The initial pact was signed by WIML director for sales and strategy Akhtar Khatri and Mufin Green Finance Chief Busin.
Adani Energy Solutions Ltd (AESL) has formed a new subsidiary entity for transmission, distribution and power supply. Adani Energy Solutions Step-Eleven Limited (AESSEL) has been incorporated with the Registrar of Companies, Ahmedabad, Gujarat, on December 17, 2024, and is yet to commence its business operations, the company said in an exchange filing.
Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, “It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company”.
Coromandel International Ltd has signed a strategic partnership with Krish-e, the farm equipment business vertical of Mahindra and Mahindra Ltd, to offer its drone spraying service ‘Gromor Drive’ to the farming community, a top company official said on Tuesday. The service is currently available in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh, and Uttar Pradesh. Gromor Drive operations are supported by pilots trained at Remote Pilot Training Organisations (RPTO).
Reliance NU Suntech, a subsidiary of Reliance Power, has received a contract from Solar Energy Corporation of India (SECI) for a solar and battery energy storage system (BESS) project. The project is for its 930 MW solar project, along with a 465 MW/1860 MWh BESS component.
Rural Electrification Corporation (REC) has raised Rs 2,195 crore through bonds of different maturities. The state-owned firm has raised Rs 575 crore via bonds maturing in 15 years at a coupon rate of 7.14%. It has also raised Rs 1,620 crore at 7.10% through bonds maturing in 10 years and four months.
Exide Industries has invested around Rs 100 crore in its wholly owned subsidiary, Exide Energy Solutions (EESL) by way of subscription in the equity share capital on a rights basis. With this investment, the total investment made by the Company in EESL stands to Rs. 3152.24 crores. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.
The Reserve Bank of India (RBI) has lifted with immediate effect the supervisory restrictions on ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited, acknowledging their successful resolution of earlier concerns. This decision enables both companies to resume full business operations, reflecting their strong commitment to regulatory compliance and paving the way for sustained growth in the financial sector.
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Published on December 18, 2024
https://www.thehindubusinessline.com/markets/stocks-that-will-see-action-today-december-18/article68998574.ece
