Canara Bank | State-owned bank on Wednesday (December 26) said it has granted in-principle approval to initiate the process of listing its mutual fund subsidiary, Canara Robeco Asset Management Company Ltd, on the stock exchanges through an initial public offering (IPO). The modalities of listing will be decided in due course, the bank said.
IndusInd Bank | The Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of the stake in debt-ridden Reliance Capital Ltd by IndusInd International Holdings Ltd, IIHL BFSI (India) Ltd, and Aasia Enterprises LLP. IndusInd International Holdings Ltd (IIHL) is one of the promoters of private lender IndusInd Bank Ltd.
JSW Steel | Home-grown company CEO Jayant Acharya has announced a bold strategy for the company, revealing plans for a capital expenditure (capex) that will surpass ₹1 lakh crore in the coming years. The CEO expressed a strong focus on creating domestic capacities, underlining India's status as the second-largest consumer and producer of steel globally.
NTPC | State-owned power giant is aiming to increase its capital expenditure at least by 30–40% going forward, according to Gurdeep Singh, chairman and managing director. The public-sector undertaking’s capex has been around ₹25,000 crore recently. Singh stated that the power company is eyeing increasing the power generation capacity from renewables to 60 gigawatts (GW) by 2030.
Swan Energy | The company on Wednesday said it has made a ₹40-crore repayment of debt towards its entire fund-based facilities of the textile unit to the consortium of banks led by Union Bank of India. The consortium of banks comprises Union Bank of India, Bank of Baroda, Punjab National Bank, and Mehsana, Swan Energy said in a statement.
Paytm | As many as 912 crore merchant transactions were made using Paytm in Q2FY24, parent One97 Communications said on Wednesday. Notably, the maximum number of payments have been done on Saturdays, making it the busiest day in the week for digital transactions, the company said releasing Paytm's 2023 Recap.
Lupin | Pharma major on Wednesday said it has received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application (ANDA) for loteprednol etabonate ophthalmic suspension, 0.2%. This newly-approved medication serves as a generic equivalent to the reference listed drug (RLD) Alrex® Ophthalmic Suspension, 0.2%, by Bausch & Lomb Inc.