Adani Companies: Incorporates the names of wholly owned subsidiaries Adani Data Networks Ltd.
Logistics Allcargo: The board of directors has approved a split plan in which all container freight stations, inland container depots and all other related logistics activities of the company will be merged into Allcargo Terminals Pvt. Ltd. All engineering and equipment rental and rental solutions, logistics park, warehousing, property development and rental activities and other related activities will be merged into Translndia Realty & Logistics Parks Ltd. The program has not yet been approved by NCLT. The company would continue to operate and operate the remaining businesses. The plan could come into effect on April 1, 2022.
L&T Finance Holdings: The company will sell its L&T Investment Management mutual fund business to HSBC AMC for $ 425 million.
United breweries: NCLAT suspends ICC order imposing a penalty of Rs 751.8 crore on condition of pre-depositing 10% of the amount of the penalty.
Dr Reddy: Merck receives FDA clearance for its Covid-19 pill. The Hyderabad-based company holds a license to manufacture the pill.
Poonawalla Fincorp: International Finance Corporation ceased to be a stakeholder in the company.
UPL: Admission of its GDRs to trading on the International Order Book, the electronic trading platform of the London Stock Exchange.
Surya Roshni: The order obtained amounted to Rs 124.35 crore for the supply of API 3LPE coated pipes for the LPG pipeline project to IHB Ltd.
Ajanta Pharma: The board of directors will meet on December 28 to examine a proposal to buy back shares with a par value of Rs 2 each.
Biocon: Clinical study for Itolizumab in lupus nephritis initiated in India, after DCGI approval.
Indian Oil: To invest Rs 9,028 crore for the new Mundra pipeline.
Ircon International: Incorporated ‘Ircon Akloli-Shirsad Expressway Ltd.’ on December 23 as a special-purpose vehicle for the construction of an eight-lane controlled access highway from Akloli to Shirsad.
Tega Industries: Approves the establishment of an additional larger factory in Chile at a cost of Rs 175 crore to meet growing demand in Latin America.
Motherson Sumi Systems: NCLT approves plan of arrangement and merger between the company, Samvardhana Motherson International Ltd., Motherson Sumi Wiring India Ltd. and their respective shareholders and creditors.
Kajaria ceramic: NCLT approved a plan to merge Kajaria Tiles Pvt. Ltd. and Kajaria Ceramics Ltd. and their respective shareholders and creditors. Kajaria Tiles is a wholly-owned subsidiary of the Company and, in accordance with the Program, the Company’s ownership interest in Kajaria Tiles will be automatically canceled and no new shares will be issued as a result of said merger under the Program.
SJVN: Signing of a memorandum of understanding with Damodar Valley Corporation for the exploitation of the potential solar energy of approximately 2000 MW available within the framework of the DVC command zone.
Prestige Group, L&T: Prestige Group has signed a civil contract worth Rs 1,560 crore excluding GST with Larsen and Toubro for the construction of buildings and the development of infrastructure in Prestige City, Bangalore.
TCS: obtains a contract from the oldest non-life private insurer on the Swiss market, La Mobilière, to lead its digital transformation program.
Escorts: NCLT approved its capital reduction plan. The Company’s share capital will be reduced from Rs 134.83 crore divided into Rs 13.48 crore each to Rs 122.57 crore divided into Rs 12.25 crore after the regime is effective.
Mphasis: Mphasis Consulting Ltd., UK, a wholly owned subsidiary of the company, and Ardonagh signed a corporate agreement in which Mphasis acquired 51% of Mrald Ltd., a company incorporated and registered in England and the Country of Wales.
Glenmark Pharmacy: Crisil revises the outlook from “stable” to “positive”; long-term rating of AA- reaffirmed.