Ashok Leyland: Commercial vehicles major
on Wednesday said it has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions.The first unit is being formed to carry on the electric vehicle strategy in India and forms part of its global entity. The second subsidiary will focus on providing mobility as a service offering.
expects to deliver constant currency consolidated sales growth in mid-twenties in fourth quarter.
Vedanta: Anil Agarwal-led
Resources Ltd’s sweetened offer to buy back 17.5 per cent share in its Indian flagship firm was subscribed 57.5 per cent, helping it raise its stake to about 65 per cent.
Rajesh Exports: Gold refiner Rajesh Exports said it has secured an order worth Rs 745 crore from Germany.
& Mahindra (M&M) has tied up with its vehicle recycling arm Cero to offer the option of scrapping to its customers trading in their vehicles older than 15 years at its showrooms.
Bharti Airtel: The first spectrum-trading pact between Reliance Jio and Bharti Airtel allows the Sunil Mittal-led telco to monetise unutilised airwaves and, at roughly half the auction price, saves the Mukesh Ambani-owned operatorsome $400 million while beeng up its holdings in three circles.
IDFC First Bank: The bank has raised Rs 3,000 crore through QIP in which global marquee investors like BNP Paribas and Baillie Gifford participated alongside domestic players such as Bajaj Allianz Life and HDFC Life.
DRL: Dr Reddy’s Laboratories said it has launched Sapropterin Dihydrochloride Powder for Oral Solution, which is indicated to reduce blood phenylalanine (Phe) levels in patients with hyperphenylalaninemia (HPA), in the US market.
Tanla Platforms: Communications services firm Tanla Platforms announced the appointment of Aravind Viswanathan as chief financial officer effective June 1, 2021.
YES Bank: The bank said it has executed its first trade borrowing transaction linked to Secured Overnight Financing Rate (SOFR). A trade borrowing was availed from American lender Wells Fargo Bank and will provide further impetus to the bank’s export finance business.
UCO Bank: State-owned UCO Bank on Wednesday said its board has approved allotment of preference shares to the government for infusing Rs 2,600 crore capital.
CAMS: Computer Age Management Services (CAMS) has unveiled an e-KYC facility using an one time password based Aadhaar verification to serve the new mutual fund investors.
Jindal Steel & Power: JSPL has expressed interest to set up a container manufacturing unit at Paradip, as part of its commitment to ‘Atmanirbhar Bharat’ and ‘Make in Odisha’ initiatives.