1 / 10Wipro: Indian IT services giant Wipro on September 21 announced the resignation of its long-standing Chief Financial Officer (CFO), Jatin Pravinchandra Dalal. The company revealed that Dalal is set to step down from his role on November 30, 2023. (Image: Shutterstock)
2 / 10Rail Vikas Nigam Limited | RVNL has signed an MoU with the National Highways Authority of India (NHAI) for the construction of a six-lane Greenfield Varanasi Ranchi-Kolkata Highway in Jharkhand. This project, under the Bharatmala Pariyojana, spans from Sonepurbigha village to the junction with NH-22 (Chatra Bypass) near Chatra, covering a distance from km 184.700 to km 222.000. It will be executed in partnership with CHATRA EXPRESSWAYS PRIVATE LIMITED, a joint venture formed by RVNL. The estimated project cost, excluding GST, is Rs 1271.98 crore.
3 / 10Ideaforge | The drone manufacturing company has secured an order valued at approximately Rs 58 crore (excluding GST) for the supply of 400 Surveillance Copters, complete with accessories, to M/s. Strategic Marketing. The contract is set to be executed over a period of 12 months.
4 / 10HDFC AMC | HDFC Asset Management Company Limited (HDFC AMC), a subsidiary of HDFC Bank Limited, has received approval from the Reserve Bank of India (RBI) on September 20, 2023, allowing HDFC AMC to acquire an "aggregate holding" of up to 9.5% of the paid-up share capital or voting rights in several banks, including DCB Bank Limited, Equitas Small Finance Bank Limited, The Federal Bank Limited, Karur Vysya Bank Ltd., and City Union Bank Limited. This approval follows HDFC AMC's application in line with the RBI's Master Direction - Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023, dated January 16, 2023.
5 / 10Phoenix Mills Limited | The Phoenix Mills Limited has successfully completed the acquisition of the remaining 50 percent equity shares in Bartraya Mall Development Company Private Limited for a total consideration of Rs 50,000. As a result, Bartraya Mall Development Company Private Limited has now become a wholly-owned subsidiary of The Phoenix Mills Limited, effective from September 21, 2023. This acquisition aligns with the Company's primary business focus on Real Estate Activities.
6 / 10Sunteck | IFC and Sunteck Realty have forged a strategic alliance to establish a joint platform, with a total investment of up to Rs 7,500 million (approximately US$90 million). This collaboration aims to drive the development of approximately 12,000 top-tier housing units across four to six green housing projects situated within the Mumbai Metropolitan Region (MMR) in Maharashtra. The partnership will primarily focus on large-scale housing projects in Mumbai's outskirts to cater to the mid-income segment, fostering sustainable urban housing development.
7 / 10NBCC | NBCC (India) Limited has secured a contract for the "Construction of Various Development Work at the township and mines of SAIL Bhilai Steel Plant." This substantial contract is valued at Rs 100 crore, while the time period for completing the project is yet to be decided.
8 / 10Glenmark Pharmaceuticals | Glenmark Pharmaceuticals Limited has inked a definitive agreement with Nirma Limited to divest a 75 percent stake in its subsidiary, Glenmark Life Sciences Limited (GLS). This strategic deal is set at a per-share price of Rs 615-, totaling an aggregate consideration of Rs 56,515 million, subject to customary closing adjustments. Post-divestment, Glenmark Pharma will retain a 7.84 percent stake in GLS.
9 / 10GVP Infotech Limited | The company has secured a significant tender from Bharat Sanchar Nigam Limited (BSNL) for the "Outsourcing of operation and maintenance of CSCs under Gwalior BA," specifically covering Morena-OA for Bhind, Mehegaon, and Gohad CSC. The contract is set to be effective from September 1, 2023, to August 31, 2024. The commercial terms involve monthly billing based on transactions, reflecting the scope and scale of this operational and maintenance agreement.
10 / 10JSW Steel | The Company's subsidiary, Caretta Minerals LLC, operating coal mines in West Virginia, USA, has entered into an agreement to sell property, equipment, and mineral rights to West Virginia Properties for $24 million on September 20, 2023. Due to the absence of necessary leases, the mines were no longer economically viable. Caretta Minerals LLC reported a revenue of Rs 156 crore for the fiscal year ending on March 31, 2023, representing 0.1 percent of the consolidated net worth of the listed entity. The buyer, West Virginia Properties, has no affiliation with the promoter group or related companies.
