1 / 9Paytm | Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Ltd and the board of the bank has been reconstituted. The dramatic turn of events assumes significance in the backdrop of RBI's crackdown on the Paytm Payments Bank over persistent non-compliance and continued material supervisory concerns.
2 / 9Canara Bank | Public sector lender said its board approved the split of each share into five shares. In an exchange filing, Canara Bank said the move is aimed "to improve the liquidity of the Bank’s share and to make it affordable for retail investors and also to broaden the retail investors base". The expected time of completion for the stock split is 2–3 months.
3 / 9CMS Infosystems | Cash management company promoter, Sion Investment Holdings, is likely to sell up to 26.7% stake via block deals for ₹1,500 crore, sources in the know told CNBC-TV18. The floor price of the deal is said to be worth ₹360 per share at a 9% discount to Monday's closing price, sources privy to the developments told CNBC-TV18. IIFL Securities is the sole broker of the deal.
4 / 9Andhra Cements | The company on Monday said its promoter Sagar Cements Ltd will dilute its stake by 5% through an offer for sale (OFS). The sale is scheduled to take place between February 27 and 28, 2024. The proposed floor price for the offering is set at ₹90 per share, according to a stock exchange filing.
5 / 9Power Mech Projects | Infrastructure company on Monday said it received an order worth ₹396.25 crore for the construction of an electrified fourth railway BG line between Dadhapara-Belaha-Dagori & Nipania-Bhatapara-Hathbandh stations in the state of Chhattisgarh on an EPS basis.
6 / 9TVS Motor | Chennai-based company said its subsidiary TVS Motor (Singapore) Pte Ltd has announced a strategic move to acquire a further 8,000 equity shares in Killwatt GmbH, a Germany-based company. The acquisition will see TVS Motor (Singapore) Pte Ltd's shareholding in Killwatt GmbH increase from 39.28% to 49%.
7 / 9HFCL | Indian telecom gear maker said it has bagged purchase orders worth ₹40.36 crore for the supply of optical fiber cables. "We are pleased to inform all the stakeholders that the Company along with its material subsidiary, HTL Ltd, has received the Purchase Orders aggregating to ₹40.36 crore for supply of optical fiber cables to one of the leading private telecom operators of the country," it said.
8 / 9Wipro | IT services firm on Monday said it has partnered with Finnish telecom and IT company Nokia to deliver private wireless solutions to enterprises. Through this solution, enterprises will be able to create an integrated private environment that they can control to better manage their performance and mitigate security risks, as per a statement said.
9 / 9SBI | The country's largest lender was fined ₹2 crore for failing to comply with provisions of the Banking Regulation Act. An inspection by RBI revealed that SBI held shares as a pledgee, exceeding 30% of the paid-up share capital of certain companies. Additionally, it failed to credit the eligible amount to the Depositor Education and Awareness Fund within the mandated period.
