Bharti Airtel: The telecom operator’s board approved raising up to Rs 21,000 crore by way of rights issue, at a price of Rs 535 per share. The mega fundraising is bound to give more firepower to Airtel, as the company takes on rivals in the fiercely-competitive Indian telecom market.
Tata Steel: The domestic steel giant will invest Rs 8,000 crore in capital expenditure on its India operations during the current financial year, the company’s CEO and Managing Director T V Narendran said.
Hero Motocorp: The two wheeler maker and Automotive Skills Development Council (ASDC) have joined hands to bridge the digital skill gap at the country’s auto dealerships and build their capacity in this critical growth driver.
Tata Motors: Homegrown auto major said it has received approval of the National Company Law Tribunal (NCLT) Mumbai bench to hive off its passenger vehicles business unit into a separate entity.
Interglobe Aviation: The operator of IndiGo said it has appointed Gregg Saretsky as a special advisor and he will work closely with the executive leadership team to accelerate operational and commercial improvement opportunities at the airline. Saretsky joined the board of
as a non-executive director in October last year.
Dr Reddy’s Labs, Zydus Pharma: The leading drug makers are recalling bottles of a product each, in the US market, for different reasons, according to the latest report of the US health regulator.
NMDC: The state-owned iron-ore major said it has provided technical and financial assistance to Neelachal Ispat Nigam Ltd (NINL), following which mining operations at the steel maker’s Mithirda iron ore mine block in Odisha have resumed
Vedanta: The Anil Agarwal led mining company said its board will meet next week to consider and approve the first interim dividend for 2021-22.
India: The state-owned metal producer expressed commitment to invest Rs 4,000 crore in the next three years in Jharkhand to augment capacity of its Gua mines besides installing a 4-million-tonne (MT) pallet plant.
Bharat Petroleum: The oil marketer aid it will supply medical grade oxygen from its Mumbai refinery to Municipal Corporation of Greater Mumbai (MCGM) to meet the requirement of medical oxygen in municipal hospitals in the city.
Max Healthcare Institute: The healthcare facilities said it has acquired exclusive rights to aid development and provide medical services to a 500-bed hospital to be built on a prime land parcel of 3.5 acres in Saket in Delhi, through its arm Alps Hospital Ltd.
Marico: Homegrown FMCG firm expects a 13-15 per cent revenue growth in the medium term backed by an 8-10 per cent rise in volume, and will continue to invest in brand building to support the growth initiatives, said its Managing Director and Chief Executive Officer Saugata Gupta.
Berger Paints: In a bid to become a Rs 10,000-crore company in its centenary year of operations in 2023,
is looking to achieve Rs 8,000 crore turnover in the current fiscal. It had clocked a revenue of around Rs 6,800 crore in the last financial year.
Phillips Carbon Black: The RP-Sanjiv Goenka Group firm to pump about Rs 1,300-1,400 crore over the next two years on capacity expansion. The expansion lined up is one Rs 800 crore greenfield plant near Chennai and brownfield expansion in Mundra for specialty carbon that would entail an investment of Rs 300-350 crore.
IDFC First Bank: The private sector is aiming its retail loan book to grow by 25 per cent on a long-term basis and expects the mortgage lending to account for 40 per cent of its loan book going forward.
Technologies: The recently listed company said it has acquired Hyderabad-based OpenPlay for Rs 186.41 crore. Nazara’s Board has approved the acquisition of OpenPlay Technologies from its existing shareholders.
Corporation: Indian Oil group company announced the appointment of Arvind Kumar as its Managing Director. The Appointments Committee of the Cabinet (ACC) has approved the proposal for the appointment of Indian Oil executive director Arvind Kumar to the post of CPCL Managing Director.
Indoco Remedies: The drug firm said it has received accreditation from the UK-MHRA (Medicines and Healthcare Products Regulatory Agency) for its Hyderabad-based clinical research organisation (CRO)- AnaCipher.
Future Retail: Kishore Biyani-led company said it has approached the Supreme Court against orders passed by the Delhi High Court to maintain the status quo in relation to its Rs 24,713 crore deal with Reliance Retail and directing it to enforce the order of the Singapore-based Emergency Arbitrator.
UCO Bank: The state-owned lender said the government has extended the term of its MD and CEO Atul Kumar Goel for two years.
Coffee Day Enterprises: The coffe chain said it has reduced debt “significantly” and the management is putting its best efforts to get back the company on track. According to its latest annual report, CDEL’s net debt as on March 31, 2021 was Rs 1,731 crore.
Telecom Stocks: Telecom industry’s Adjusted Gross Revenue (AGR) rose two per cent on a sequential basis to Rs 48,587 crore in the quarter ended March 2021, data by sector regulator TRAI showed. The AGR growth stood at 8.12 per cent when seen on a year-on-year basis.
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