Hindustan Zinc

Promoter Vedanta will be selling a 3.17% stake in Hindustan Zinc through an offer-for-sale (OFS) from August 16-19. The OFS will have a base size of 1.22% with an option to sell an additional 1.95% stake in case of oversubscription. The floor price has been fixed at Rs 486 per share.

Tata Steel

The company has acquired 115.92 crore ordinary equity shares of its subsidiary, T Steel Holdings Pte, for $182 million (Rs 1,528.24 crore). Post this acquisition, T Steel Holdings Pte will continue to be a wholly owned subsidiary of the company.

Glenmark Pharmaceuticals Q1 (Consolidated YoY)

Profit jumps 9-fold to Rs 340.2 crore Vs Rs 37.7 crore on strong operating numbers with fall in input cost, finance cost.mRevenue grows 6.9% to Rs 3,244.2 crore Vs Rs 3,036 crore

Hinduja Global Solutions Q1 (Consolidated YoY)

Loss stands at Rs 57 crore Vs profit at Rs 16.64 crore. Revenue falls 3.7% to Rs 1,091.9 crore Vs Rs 1,133.5 crore

Power Mech Projects

The company has received an order worth Rs 114.30 crore from Coastal Energen. The order involves the operation and maintenance of a 1,200 MW (2*600 MW) coal-based thermal power plant, namely Mutiara Thermal Power Plant, owned by Coastal Energen at Melamaruthur, Tamil Nadu, for one year, effective October 1.

SpiceJet Q1 (Consolidated YoY)

Profit falls 20% to Rs 158.2 crore Vs Rs 197.6 crore. Revenue declines 14.7% to Rs 1,708.2 crore Vs Rs 2,003.6 crore

Ola Electric Mobility

Net loss widens to Rs 347 crore Vs loss of Rs 267 crore. Revenue grows 32.3% to Rs 1,644 crore Vs Rs 1,243 crore

SBI, PNB

Karnataka government decided to suspend banking with SBI and PNB over concerns about misuse of government funds and illegal transactions.

REC

REC has formed a new subsidiary, Rajasthan IV 4B Power Transmission, to support power evacuation efforts in Rajasthan's Renewable Energy Zone.

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