Torrent Pharma / Cipla: Torrent Pharma is likely to have submitted a non-binding bid for Cipla, and is likely to have started financial due diligence of Cipla and may decide on a binding bid in the next few weeks. CNBC-TV18 is awaiting comments from both Torrent Pharma and Cipla.
Jet Airways | Jalan Kalrock Consortium on Thursday said it has deposited Rs 100 crore to Jet Airways, swiftly following NCLAT's nod for the airline's revival. This financial boost, accomplished in just 48 hours, brings Jalan Kalrock Consortium's total investment to Rs 250 crore and inches them closer to securing ownership of Jet Airways.
Five-Star Business Finance | Private equity investors are likely to sell about 8.8 percent equity in non-banking lender Five-Star Business Finance Ltd via a block deal, sources privy to the development said on Thursday (August 31). The offer floor price for the sale by PE investors was set at Rs 724 per share, a near 6.25 percent discount from the current market price (CMP).
TV18 Broadcast | Reliance Industries owned Viacom 18 won the BCCI media rights for the domestic and international games to be played in India. Viacom 18 has won the media rights for both television as well as digital platforms. The media firm has bagged the rights for a total amount of Rs. 5996.4 crore.
Navneet Education | The company on Thursday said its board of directors has approved a composite scheme of arrangement for the amalgamation of Genext Students Private and the demerging of edtech business of Navneet Futuretech into Navneet Education. This scheme is aimed at rationalising the group structure and achieving better synergies within the two businesses i.e. publication and edtech businesses.
India Pesticides | The company on Thursday said it had applied for allotment of Plot No. D-1, Sandila Phase 1, Hardoi, Uttar Pradesh from Uttar Pradesh Industrial Development Authority (UPSIDA), the area of the plot is 11,461.00 square meters of land adjacent to its existing Sandila Plant for setting up a manufacturing unit of pesticides.
Punjab National Bank | State-owned bank on Thursday raised the marginal cost of funds-based lending rate (MCLR) by 5 bps across tenures, effective from September 1, 2023. The MCLR is the lowest interest rate at which a bank can make a loan to a customer. The bank has raised overnight MCLR by 5 bps from 8.10 percent to 8.15 percent.
Genus Power Infrastructures | The company on Thursday said its step-down wholly-owned subsidiary has received an order worth Rs 2,247.35 crore for the appointment of Advanced Metering Infrastructure Service Providers including design of advance metering infrastructure system with supply, installation, and commissioning with FMS of 24.18 lakh smart prepaid meters, system meters.
CONCOR | The company on Thursday said the union ministry of railways has appointed Sanjay Swarup as the chairman and managing director of the organisation. In his previous role, Sanjay Swarup was the director of international marketing and operations at Container Corporation of India.