Reliance Industries | Chipmaker NVIDIA announced that it is partnering with with the conglomerate to develop India's own large language model trained on local languages and tailored for generative Al applications.
TCS, Tata Communications| US chipmaker NVIDIA announced a partnership with the Tata Group to deliver computing infrastructure and platforms for developing AI-based solutions. The collaboration aims to bring state-of-the-art AI capabilities within reach to thousands of organisations, businesses and startups in India.
Adani Enterprises | Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased its stake in flagship Adani Enterprises to 71.93% from 69.87%, according to stock exchange filings.
ONGC | State-owned company on Sunday said there was no damage to either farmers or fishermen due to last week's minor oil spill near Uran in Mumbai. "In the morning hours of September 8, 2023, a minor quantity of oil leaked from one of the crude oil storage tanks at ONGC Uran Plant. Due to heavy rains, the leaked oil entered the stormwater drain channel," it said in a statement.
Balaji Amines | Speciality chemicals maker said its arm Balaji Speciality Chemicals Ltd (BSCL), has withdrawn its initial public offering (IPO) prospectus filed with market regulator SEBI. "...we have been informed by BSCL that its Board of Directors (on) September 8, 2023 ... decided to withdraw the DRHP filed with SEBI," Balaji Amines said in a regulatory filing.
Coffee Day Enterprises | Coffee Day Global Ltd (CDGL), which owns and operates the popular Cafe Coffee Day chain, said it has been facing a legal challenge under Section 7 of the Insolvency and Bankruptcy Code, 2016. The case has been brought against the company by IDBI Trusteeship Services Ltd and has been filed with the National Company Law Tribunal (NCLT) in Bengaluru.
UCO Bank | State-owned bank said it has raised its marginal cost of funds-based lending rate (MCLR) and treasury bill linked lending rates (TBLR) by 5 basis points (bps) across all tenures. However, the repo linked rate, base rate, and BPLR remain unchanged. The revised MCLR rate is effective from September 10, 2023, according to a stock exchange filing.
SJVN | The hydroelectric power generation firm announced that the company through its wholly owned subsidiary SJVN Green Energy Ltd (SGEL) has signed a power purchase agreement with the Bhakra Beas Management Board. As per the agreement, SGEL will be developing an 18 MW Solar Power for BBMB. The project is scheduled to be commissioned by August 2024.
Vakrangee | The company said it has entered into a binding term sheet with private equity investor Aaviskaar Capital to acquire a 48.5 percent equity stake in Vortex Engineering Private Ltd (Vortex). Vortex Engineering is an innovative and leading provider of Automated Teller Machines (ATMs) and multi-vendor ATM management software products.
Pidilite Industries | Leading adhesive, waterproofing solutions and construction chemicals maker on Saturday said a fine of Rs 2.64 lakh has been imposed on the company by the GST department. The order has been passed with regard to the disallowance of input tax credit (ITC) in the state of Maharashtra for CIPY, a company which has been merged with Pidilite Industries on April 1, 2022.