JSW Infrastructure

The company has received a Letter of Intent from the Maharashtra Maritime Board for the development, operation, management, and maintenance of an all-weather, multipurpose port at Palghar, Maharashtra. The development of the port will be on a public-private partnership (PPP) basis with a design, build, own, operate, and transfer (DBOOT) model.

Lyka Labs

The company has received product permission from the Central Drugs Standard Control Organization of India to manufacture and market Pregabalin Gel 8% w/w in India, following the completion of Phase III clinical trials. Pregabalin Gel is used for patients with diabetic neuropathic pain.

Zydus Lifesciences

The company has formalized a Memorandum of Agreement (MoA) with the Indian Council of Medical Research (ICMR) to initiate Phase 2 clinical trials of Desidustat in patients with sickle cell disease.

CESC

The company's subsidiary, Purvah Green Power, has signed a Share Purchase Agreement to acquire 100% of the share capital of Deshraj Solar Energy. Post-acquisition, Deshraj Solar Energy will become a step-down subsidiary of the company.

Authum Investment and Infrastructure

The company has entered into a purchase cum shareholders agreement with India SME Asset Reconstruction Company (ISARC) to buy 79.28% of the expanded share capital of ISARC. The company will purchase 13 crore equity shares, representing 56.52% of the expanded share capital of ISARC for Rs 176.8 crore, and 5.235 crore shares, representing 22.76% of the expanded share capital of ISARC for Rs 85.3 crore.

Can Fin Homes

The Board will meet on October 22 to consider the unaudited financial results for Q2 FY25 and fund-raising of up to Rs 4,000 crore via the issuance of non-convertible redeemable debentures (NCDs) on a private placement basis, in one or more tranches.

CG Power and Industrial Solutions

The company has appointed Deven Jani as Vice President – Strategic Sourcing, effective October 14.

Chalet Hotels

The Finance (No. 2) Act 2024 has withdrawn the benefit of the Cost of Inflation Index and reduced the long-term capital gains tax rate from 20% to 12.5%. As a result, there will be a reversal of the deferred tax asset created on capital assets, amounting to Rs 203 crore, which will have a one-time non-cash impact on the profit after tax of the company. Furthermore, there will be a reversal of the deferred tax liability in the balance sheet, created on the revaluation of capital assets (IND AS transition April 1, 2016), amounting to Rs 55 crore.

Indian Overseas Bank

The bank has increased its lending rate by 5 bps for overnight and one-month tenures, effective October 15.

J Kumar Infraprojects

The construction company has received a work order worth Rs 297.83 crore from Pune Municipal Corporation. The project involves the development of the Mula River from Wakad Bypass to Sangvi Bridge (stretch 1, 2, and 3).

Vikasdhan - Grow your Dhan with Vikasdhan.

Disclaimer- not an investment advice, only for educational purpose. Read full disclaimer. https://vikasdhan.com/disclaimer