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Zomato has announced that co-founder Mohit Gupta has resigned from his post. Gupta, who had joined Zomato four-and-a-half years ago, was appointed co-founder in 2020 from the position of CEO of its food delivery business. In addition, food delivery major ha also said it is cutting just under three percent of its workforce across the organization, following three top-level exits earlier this month.
Six months after the imposition of the levy, the government has cut the duty to export steel products and iron ore with effect from Saturday (November 19). According to a finance ministry notification issued late on Friday night, exports of pig iron and special steel products as well as iron ore pellets will attract ‘nil’ export duty. Focus will be on steel stocks included Tata Steel, SAIL, Jindal Steel, JSW Steel, ISMT, Kalyani Steels.
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Tata Motors will enter the Sensex from December 19 instead Dr. Reddy’s laboratory, according to a press release shared by BSE, which operates the Asia Index in partnership with S&P Dow Jones Index LLC. Similarly, Adani Total Gas and Hindustan Petroleum Corporation will be removed from the S&P BSE 100 and S&P BSE Sensex Next 50 indices. Adani Power and Indian Hotels Company will replace them in the index, the release notes.
Trade settlement in Central Depository Services Ltd suspended on Friday due to the detection of malware on their machines. CDSL said it detected malware on some of its internal machines and as a precaution it immediately isolated the machines and cut itself off from other capital market constituents. The company on Sunday said that the system after checking and validation has been done immediately. The system functions to carry out depository activities, he explained.
RHI Magnesita has announced the acquisition of the Indian refractory business of Dalmia Bharat Refractory Limited . DBRL will transfer its Indian refractory business to Dalmia OCL (DOCL). Under the terms of the Share Swap Agreement, RHI Magnesita will acquire all outstanding shares in Dalmia OCL (DOCL) in exchange for 27 million new shares in RHI Magnesita India Limited. Based on the issue price of RHI Magnesita India Limited at ₹632.5029 a share, Pertimbangan Saham has a value of approximately ₹1,708 crore (€208 million). RHI Magnesita will consolidate DOCL’s earnings with approximately INR 443 Crores (€54 million) of net debt held by DOCL.
board of Indian Energy Exchange will meet to consider buyback shares on November 25.
REC has received consideration and accordingly transferred all of its shareholding in Gadag II-A Transmission, along with all assets and liabilities to ReNew Transmission Ventures, the successful bidder. REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, had in March handed over a project-specific SPV to ReNew Transmission.
Aarti Industry Ltd. and Deepak Fertilizers & Petrochemicals Corporation Ltd (DFPCL) has announced that they have signed a binding term sheet for a 20-year period for offtake and supply of nitric acid. The parties plan to execute a formal agreement before the end of this calendar year. The supply arrangement starts from April 1, 2023. DFPCL is the largest producer of Nitric Acid in Southeast Asia and AIL is one of the largest consumers of Nitric Acid in India.
PB Fintech (Policybazaar) has made an investment of around ₹2 million and acquired 26.72 per cent stake in YKNP Marketing Management, a Limited Liability Company through PB Fintech FZ-LLC, a wholly owned subsidiary of the Company. After the investment, YKNP has become an associate of PB Fintech FZ-LLC, a wholly owned subsidiary of the Company and accordingly becomes a related party. Further, the company is a professionally managed company with no identified Promoters.
The United States Food and Drug Administration (US FDA) is investigating Aurobindo Pharma’s Unit – IX, an intermediate facility located in Gundlamachnoor Village, Sangareddy District, Telangana, from November 10 to November 18. At the end of the inspection, the Company has issued a ‘Form 483’ with 10 observations, according to the company. , it is procedural and not related to data integrity. The company will respond to the US FDA, in a set timeline and will work closely with the agency to address the observations at the earliest.
Natural Capsules Limited’s a subsidiary of Natural Biogenex Private Limited, an emerging steroid API player announced the successful completion of a fund-raising of ₹18.75 crore. The company has allotted 16.67 lakh shares representing 7.69 percent of the total outstanding shares post-allotment, valuing the subsidiary at ₹225 crore premoney.
Ashoka Buildcon, which earlier announced the declaration of financial closure achievement on October 13, 2022, Ashoka Baswantpur Singnodi Road Private Limited, a wholly owned subsidiary of the company, has accepted as the Designated Date for the NHAI Project. The Project Cost of the Bid received is ₹1,079 crore. The construction period of the Project is 912 days from the Designated Date and the operation period is 15 years from COD.
Bharat Electronics Ltd (BEL) has signed a Joint Development Agreement (JDA) with the Indian Institute of Technology Madras (IITM) for cooperation in the field of Quantum Science and Technology. JDA aims to leverage the complementary strengths and capabilities of BEL and IITM in the area of Quantum Science Technology development.
Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company, an Oil Marketing Company, today announced the commissioning of the first In & Out store at Solanki Fuels, in Chhattisgarh district. BPCL aspires to build a BPCL network consisting of 10,000 Such Outlets and 1 Lakh “Womenpreneurs” whom they named Urja Devi. This Urja Devi will be the mascot of BPCL in the rural areas of the country representing the beliefs and values that BPCL has built over the years.
Engineers India Limited (EIL) has been awarded work by Chennai Petroleum Corporation Limited (CPCL) for Overall Project Management & EPCM Services for OHCU Revamp, CDWU and related Off-site facilities for Group-II LOBS Project at Manali Refinery.
Strides Pharma Science Limited has announced that its wholly-owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Potassium Chloride Oral Solution USP, 40 mEq / 15mL (20%) from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Potassium Chloride Oral Solution USP, 40 mEq/15 mL (20%) of Genus Lifesciences Inc.
Appellate tribunal NCLAT has upheld the order of NCLT to allow Jindal Stainless to participate in the debt-ridden auction Rathi Super Steel even after a bidder is selected. JSL has submitted its ₹190-crore bid for Rathi Super Steel after the liquidator filed an application before the National Company Law Tribunal (NCLT), seeking closure of the liquidation process and approval of terms and conditions of sale to Rimjhim Ispat and Synergy Steel.
Board of Directors of ZF Steering Gear (India) has discussed / deliberated on the recent communication received by the company, from ZF Friedrichshafen AG for ₹100 crore in damages, in relation to the alleged violation of the trademark / mark “ZF” and / or “ZF India”. The Board has decided that, the company does not in any way, accept all allegations of infringement and / or demands of ZF Friedrichshafen AG.
3i Infotech Limited has announced a multi-year contract from the Indian state refiner Hindustan Petroleum Corporation Limited (HPCL). The order value is pegged at around ₹51 crore over 3 years.
Kanoria Chemicals & Industries Limited has commissioned its Resin Plant in Ankleshwar Unit and trial production in the unit has started.
Vishvprabha Ventures Limited has received a work order of ₹36.15 crore from the Kalyan-Dombivli Municipal Corporation for road construction within the KDMC municipal limits.
Roto pump has received a major domestic purchase order for Screw Pumps worth ₹ 1.84 crore from a water and sewage management Company. The supply of this order will be completed in tranches by the fourth quarter of the current financial year.
Electronic MIC has been awarded a tender for the provision of a video wall in the SDAH station area including the concourse area to display important information along with CAMC for 5 years by Sealdah Division – S and T, DRM office, Kolkata, Eastern Railway. The tender value is ₹87.74 lakh.
Cool Sheetal productsBSE UKM shares, will migrate to the BSE Main platform and also receive a Letter from the National Stock Exchange of India for trade recognition from November 22.
The office of the Commissioner of Customs, Jamnagar, has granted approval of the Inland Container Depot (ICD) of Navkar Corporation Limited at Vadharva, Morbi, for the purpose of unloading import goods and loading export goods and also to notify the area under Section 8 (b) of the Customs Act.
Nope has received one purchase order from Larsen & Toubro Limited for Pre-Machining, Child Part Component Machining for a total consideration of ₹4.20 crore (inclusive of GST).
Published on November 21, 2022
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