Larsen and Toubro: The Qatar General Tax Authority has imposed a fine of Rs 111.31 million for the period 2016-2017 and Rs 127.64 million for the period 2017-2018. An appeal has been filed against the imposition of this sanction, considering it arbitrary and unjustified.
RITES: RITES emerged as the lowest bidder in two CFM Mozambique tenders. Of the two tenders, one is for the supply of 10 diesel electric locomotives with additional service of Rs 3.7 million and the other is for the supply of 300 high side coaches.
Bajaj Finance: The company stopped sanctioning and disbursing loans under its two credit products, namely 'eCOM' and 'Insta EMI Card', until the deficiencies observed by the RBI were rectified to its satisfaction.
Sterling and Wilson: Disputes between Sterling and Wilson International FZE, Dubai and Jinko Solar have been resolved amicably.
Dalmia Bharat Sugar: The company reported that there is a disruption in operations at Kolhapur and Ninaidevi units in Maharashtra due to farmers' agitation. Consequently, there could be a material impact. The company said it is taking all possible measures to restore normality.
SBI Cards and Payment Services: Capital adequacy is expected to decline by 400 basis points due to RBI's revised credit risk weights. The bank is well capitalized today and well above the regulatory guideline of 15%. It has sufficient sources and a diversified lender base to manage its impact, and does not anticipate a significant impact on the cost of funds during this fiscal year.
Industrial Bank: The RBI has approved the appointment of Arun Khurana as full-time CEO for a period of three years starting November 16.
Remsons Industries: The company will consider and approve the proposal to raise funds by issuing shares or any other eligible convertible security/warrant.
Aurobindo Pharmaceutical: A USFDA inspection of its facilities in Telangana from November 13 to 17 closed with zero observations and a rating of "No Action Indicated."
Exide Industries: The company settled the chloride brand dispute with Vertiv Group of the United Kingdom and Vertiv Energy of India. VCGL and VEPL will not use the said mark 'CHLORIDE' in India, either directly or indirectly, and will withdraw all their claims over this mark in favor of Exide.
Kalyan Jewelers: Kalyan Jewelers FZE unit acquired the remaining 30% stake in Kalyan Jewelers LLC, Oman, on November 16. Kalyan Jewelers LLC, Oman has become a wholly owned subsidiary of Kalyan Jewelers FZE.
Adani Power: Ardor Investment Holding acquired 1.93% between September 26 and November 16. Emerging market Investment DMCC acquired 0.13% on September 29. The promoters now own 71.14% of the company.
Electronic Engineering: Elecon Middle East FZCO, Dubai, has incorporated its wholly owned subsidiary, 'Elecon Radicon Africa'.
Newgen Software: The board of directors will consider and recommend on November 27 a proposal for the issuance of bonus shares.
Tamilnad Merchant Bank: ED orders bank to transfer 3.31% stake held by MGM Maran to Enforcement Director. The Education Department had awarded assets worth Rs 205 crore to MGM Maran and its associates under the PMLA in 2016.
Jio Financial Services: Sethuraman Kandasamy, Jagannatha Kumar Venkata Gollapalli and Jayashri Rajesh resigned as directors with effect from November 1. 17, 2023
NBCC: Signs an MoU with ICAI for planning, designing and executing buildings and renovation works at various locations in India.
Kaynes Technology: The IPO lockup ends and 2.53 million shares become eligible for trading. Meanwhile, the board approved raising Rs 1,400 crore.
Pharmaceutical Gland: The IPO lockup ends and 3.27 million shares become eligible for trading.
Vedanta: Crisil Ratings has downgraded its ratings on the Company's long-term banking facilities and debt instruments to 'CRISIL AA-' from 'CRISIL AA'. Crisil placed these ratings under 'Rating Watch with Developing Implications' of 'Rating Watch with Negative Implications'. He also received a GST demand notice of Rs 1.39 crore along with applicable interest. In addition, a fine of 10% of the issued demand may be imposed if the company does not comply with the original demand.
Maruti Suzuki: Shareholders approved the acquisition of Suzuki Motor's manufacturing facilities in Gujarat through preferential allotment of shares, with 98.91% voting in favour.
Zen Technologies: The company secured an export order worth $5.12 million (around Rs 42 crore), including simulators, from an unnamed friendly nation.
Sudarshan Chemical Industries: The company launched two complex inorganic colored pigments for plastics: Sudatherm Cobalt Blue 6421K and Sudatherm Cobalt Green 6451K, for domestic and international markets.
Oberoi Real Estate: The company signed a sale agreement with Ireo Residences Co. and others to acquire a 14.8-acre land parcel in Sector 58, Gurugram, Haryana, for Rs 597 crore.
IT hardware manufacturers: Ministry of Electronics and Information Technology granted approval to 27 companies under PLI 2.0 scheme for IT hardware manufacturing
