Hero MotoCorp | The company on Monday announced a Rs 550 crore investment in the rights issue of Ather Energy Private Ltd. The investment comprises Series E2 Compulsory Convertible Preference Shares and is a strategic decision by Hero MotoCorp to deepen its involvement in the electric mobility sector, the automaker said.
Cipla | With a view to expanding its footprint in the South African market, the drug firm on Monday said it will acquire a privately owned consumer health and generic medicine company Actor Pharma. The acquisition will take place at a cost of ZAR900 million or $48.6 million. Cipla said this is a strategic acquisition that will “leverage cost synergies in the South African market.
Escorts Kubota | Tractor and construction machinery major on Monday said the company will raise tractor prices. Starting from September 16, 2023, the company is set to implement a price increase across its range of tractors, affecting various models and variants in different geographic regions.
Oil India | State-run company on Monday said it has received board approval for its equity investment of up to Rs 1,738 crore in the joint venture company, the North East Gas Distribution Company, formed in partnership with Assam Gas Company. This strategic investment aligns with Oil India's 49 percent shareholding in NEGDCL.
Tata Power | Tata Power Renewable Energy Ltd (TPREL) on Monday (September 4) has inked a power delivery agreement with Neosym Industry Ltd (Neosym) in a win for climate action. The agreement outlines plans for a 26-MW AC Group captive solar plant, to be established in Jamkhed, Ahmednagar, Maharashtra, according to a stock exchange filing.
IIFL Finance | The company on Monday said it has launched a golden ESOP scheme worth Rs 180 crore. This is said to be among the largest Employee Stock Ownership Plan (ESOP) schemes in the BFSI sector. This newly unveiled scheme aims to target 4,000 frontline employees across 25 states and five union territories.
Ramco Cements | The company on Monday said it has commissioned the balance capacity of 3 MW of waste heat recovery system out of the 12 MW capacity at Kolimigundla plant. With this, total operating capacity of waste heat recovery system for the company has gone up to 43 MW. The company's wind power capacity, including its subsidiary’s capacity of 40 MW, stands at 166 MW.