Reliance Industries | The company on Wednesday announced that Qatar Investment Authority will be investing a sum of Rs 8,278 crore in Reliance Retail Ventures for a 0.99 percent stake. The investment will value the retail arm at Rs 8.27 lakh crore, which ranks among the top four companies by total equity value in the country.
Coforge | Promoter Hulst BV (Baring Private Equity Asia) is likely to sell its entire 26 percent stake in Coforge Ltd worth $893 million via a block deal on Thursday. Under the transaction, the promoter is likely to offload at a floor price of Rs 4,550 per unit, which is a 7.4 percent discount from the current market price (CMP).
TVS Motor Company | Two-wheeler manufacturer on Wednesday launched its second electric scooter, the TVS X, which is based on the TVS XLETON, a high-strength aluminium platform. The TVS X is a premium electric scooter that offers a wide range of digital and connected features, such as an intuitive navigation system, EV charger mapping mechanism, live vehicle location sharing feature, and more.
Torrent Pharma | The US health regulator has granted Voluntary Action Indicated classification to Torrent Pharmaceutical's manufacturing site in Dahej, Gujarat. A VAI classification means objectionable conditions or practices were found but the agency is not prepared to take or recommend any administrative or regulatory action.
Vascon Engineers | The company on Wednesday said it has received a Letter of Acceptance amounting to Rs 605.65 crore from Bihar Medical Services & Infrastructure Corporation Ltd for the construction of Lohia Medical College & Hospital including hospital and residential building, Supaul. The work has been awarded on an EPC basis.
NHPC | State-owned power producer on Wednesday said it has signed a Memorandum of Understanding with Andhra Pradesh Power Generation Corporation Ltd for the implementation of pumped storage hydro power projects and renewable energy projects in Andhra Pradesh. The MoU provides a framework under which parties may collaborate and cooperate to form a joint venture company under the Companies Act, 2013.
Tata Motors | Competition Commission on Wednesday closed a case against Tata Motors on alleged abuse of its dominant position with respect to agreements with its authorised dealers. For this case, the market for the manufacture and sale of commercial vehicles in India was considered as the relevant one. The complaint was filed against Tata Motors, Tata Capital Financial Services, and Tata Motors Finance.