Godrej family announced a family settlement under which Adi Godrej and Nadir Godrej will control the listed companies in the group while Jamshyd Godrej and Nyrika Holkar will control Godrej Enterprises comprising Godrej & Boyce and its affiliates. The listed entities under Godrej Industries Group (GIG) are Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences.
Bharti Airtel has appointed Ambareesh Mandelia as head of M&A and business development. Before joining Airtel, Mandelia was heading the corporate health and wellness business units at Tata 1mg, along with corporate strategy. “Ambareesh Mandelia has been appointed as Head – M&A and Business Development of the Company with effect from May 01, 2024,” Airtel said in a regulatory filing.
KVS Manian has stepped down as Joint Managing Director of Kotak Mahindra Bank, with immediate effect, the bank informed the exchanges. Previously, a whole-time director at the bank, Manian, was elevated as Joint MD effective March 1, as part of a leadership rejigfollowing the appointment of new MD and CEO Ashok Vaswani.
Passenger vehicle (PV) market leaders such as Maruti Suzuki India and Tata Motors, on Wednesday, reported flat or marginal growth in sales in April as compared with the corresponding to same month last year because of a high-base effect and ongoing elections possibly dampening demand. In the two-wheeler segment, TVS Motor Company grew by 29 per cent year on year.
Wipro has received contract from Nokia to overhaul its employee service desk and provide seamless, real-time IT support to a global network of employees. It will build bespoke AI-powered solution providing next-generation digital workplace support in a multi-year contract.
State-run coal miner Coal India produced 61.8 million tonnes of coal in April, a 7.3 per cent year-on-year rise compared to the same period last year. The coal behemoth had produced 57.6 million tonnes of coal in April last year. All its coal-producing subsidiaries reported higher outputs in April, 2024 compared with the same period last year, according to a stock exchange filing by CIL on Wednesday.
The board of PB Fintech (owner of policybazaar) has approved a proposal for divestment of 29.3 per cent stake of Visit Health, held by Docprime Technologies Pvt. Ltd., a wholly owned subsidiary, for ₹76 crore. However, the company will continue to have a 8.2 per cent stake in Visit Health. The board has also approved divestment of entire 100 per cent shareholding and 82,759 compulsorily convertible preference shares of Visit Health held by Docprime for ₹2 crore. The company will acquire shares of Genesis Group Ltd., which holds a 49 per cent stake in Genesis Insurance Brokers through a wholly owned subsidiary for ₹2 crore.
Jindal Stainless, the country’s largest stainless steel maker, will invest ₹5,400 crore over the next three years as it looks at a 40 per cent ramp-up in capacities to 4.2 million tonnes per annum (mtpa).
Granules India has said that the US Food & Drug Administration has approved its Abbreviated New Drug Application (ANDA), filed by Granules Pharmaceuticals, Inc. (GPI), a wholly owned foreign subsidiary, for Colchicine Capsules, 0.6 mg. It is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Mitigare Capsules, 0.6 mg of Hikma International Pharmaceuticals LLC (Hikma). Colchicine Capsules are indicated for prophylaxis of gout flares in adults.
KPI Green Energy has received new orders aggregating to 74.30 MW for executing solar power projects. Within this allocation, KPI Green Energy has undertaken 27 MW capacity, which includes 20 MW capacity for the development of Solar power project forming part of the wind-solar hybrid power project. Additionally, KPark Sunbeat Private Ltd has undertaken 30 MW capacity, and Sun Drops Energia Private Ltd has undertaken 17.3 MW capacity, both wholly owned subsidiaries of the company, under the Captive Power Producer segment. The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
Kings Infra Ventures Ltd has signed a Memorandum of Agreement with the Central Institute of Fisheries Technology (CIFT) for developing ready-to-eat and serve frozen fish products. This agreement will facilitate the technology transfer of ready-to-heat and serve frozen products for which the institute shall provide the technical assistance, all technical know-how and hands-on training to the personnel from Kings Infra.
Orient Cement has commissioned second phase of Waste Heat Recovery System at its Chittapur Integrated Cement Plant to utilise the waste heat available from the pyroprocessing system. Preheater Boiler along with already operational AQC Boiler, Turbine and Air Cooled Condenser is successfully commissioned. Overall, gross power generation capacity of WHRS, after the commissioning of 2nd phase is 10.1 MW.
Megellanic Cloud has bagged its first major logistic drone order from an Indian robotics firm for an aggregate value of ₹43 crore. The order marks the company’s entry into the logistics sector that had a high potential with multiple players in India and abroad. The order entails delivery of 45 CargoMax series drone kits – along with RTF Quadrotor Airframe, Flight Controllers, RC Controllers, EO Payload and Transport Case – that will be manufactured in its state-ofthe-art facility in Bangalore.
NSE-listed Globe Textiles India, a well-known textile star exporter of fabrics and garments catering to global and domestic markets for the last one decade has announced to make an application to BSE Limited for the direct listing of its equity shares. This strategic move underscores Globe Textile’s commitment to enhancing transparency and maximizing value for its shareholders.
