Vodafone, Titan, HPCL, SBI Life, Dr. Reddy’s, RIL, Shipping Corp, Cipla, GAIL (India)
Vodafone idea: Kumar Mangalam Birla has stepped down as chairman of the company. The board accepted Birla’s request to step down as a non-executive director and non-executive chairman of Vodafone Idea effective August 4. The board of directors elected Himanshu Kapania as non-executive chairman. Kapania is a candidate for the Aditya Birla group. The board also appointed Sushil Agarwal, a nominee from the Aditya Birla group, as an additional director.
SBI Life Insurance Company: CA Emerald Investments, a subsidiary of Carlyle Group, will sell all of its 1.9% stake in SBI Life Insurance Company. He will sell 1.90 crore of shares at Rs 1,130 – Rs 1,136.85 a piece, according to the conditions sheet. At the bottom of the scale, CA Emerald Investments will be able to raise Rs 2,147 crore ($ 289.4 million).
Trusted industries: Double its PET recycling capacity by setting up a plant to manufacture recycled polyester staple fibers in Andhra Pradesh. Srichakra Ecotex India will build and operate the new recycled PSF – Recron GreenGold and PET flake washing line in Andhra Pradesh for Reliance. The plant will help Reliance more than double its recycling capacity to 5 billion post-consumer PET bottles.
Dr Reddy’s laboratories: Has entered into a definitive agreement with BioDelivery Sciences International, Inc., to sell its US and Canada territorial rights for Elyxyb 25 mg / mL to the US-based company. Under the terms of the agreement, Dr. Reddy’s will receive $ 6 million upfront at closing, followed by $ 9 million one year after closing. Additionally, it is eligible to receive quarterly event-based milestones, sales, and earn-out payments. “Elyxyb is an oral solution dosage form that allows patients to take it immediately upon onset of migraine attacks,” said Erez Israel, CEO of Dr. Reddy’s Laboratories.
India Shipping Company: Approved split of non-core assets into a new company. The split aims to facilitate “an effective and efficient divestment” of the Shipping Corporation of India by the government. Holders of Shipping Corp will receive 1 share in the new company for each share they own in the state-run shipping company. The new company will be listed on BSE and NSE.
Ion exchange (India): Indian Oil Corporation awarded the company a Rs 357.46 crore engineering, procurement, construction and commissioning contract to design and install a turnkey effluent treatment plant for its construction project. complex of para xylene and purified terephthalic acid in Paradip, Orissa. The project must be constructed and commissioned within 26 months of the date of the letter of acceptance.
Prakash Industries: Won Bhaskarpara coal mine auction in India.
MMTC: The Supreme Court issued an order in MMTC v Anglo American Metallurgical Coal Pty reducing the interest component. Details are being worked out as to the impact of the move, the company said. MMTC may need to make a significant provision in the accounts for 2020-2021. The company is also exploring all available legal remedies.
Shriram Transport Finance Company: Awarded 1,000 secured NCDs with a face value of Rs 10 lakh each, for a total of Rs 100 crore on the basis of a private placement. The proceeds of the issuance will be used to finance commercial vehicles, refinance existing debt and other general corporate purposes.
Borosil Renewables: Increase the production capacity of its third furnace (SG-3), being installed at its manufacturing plant in Bharuch, Gujarat, from 500 MT to 550 MT per day. The expansion will cost the company Rs 600 crore
Earnings: Cipla, GAIL (India), Adani Power, Escorts, Birla Corporation, Gujarat Gas, Tata Chemicals, Accelya Solutions India, Bajaj Consumer Care, IPCA Laboratories, Brigade Enterprises, REC, Honeywell Automation India, KIOCL, NCC, Quess Corp, Thermax, Narayana Hrudayalaya, Ador Welding, Alicon Castalloy, Andhra Petrochemicals, Arvind, Cera Sanitaryware, Hikal, ITD Cementation India, Johnson Controls-Hitachi Air Conditioning India, Prince Pipes And Fittings, Jubilant Industries, Monte Carlo Fashions, NACL Industries, Navkar Corporation, Niyogin Fintech, Panama Petrochem, PTC India Financial Services, Pitti Engineering, SML Isuzu, Somany Ceramics, TTK Healthcare, Vidhi Specialty Food Ingredients