Infibeam Avenues: The company said it signed an agreement to license its e-commerce and payment software to Jio Platforms, Reliance Jio’s digital platform company. Infibeam Avenues is the Gandhinagar-based parent company of the payment gateway company CCAvenue.
IndusInd Bank: Private lender IndusInd Bank posted a tepid performance on credit with loans and advances growing a meager 2% to almost Rs 2 lakh crore at the end of the September quarter.
Britannia: The board of directors of the company approved the issuance of an ENT of the face value of Rs 29 as a “bonus for company members” for a paid-up capital share with a face value of 1 rupee (one rupee) each, using its reserve, Britannia Industries said in a regulatory filing. In addition, the board approved the payment of dividends of 12.50 rupees for each using their accumulated earnings.
Tata Motors: Jaguar Land Rover (JLR), owned by Tata Motors, reported an 11.9 percent drop in sales in the second quarter of this fiscal year to 1,13,569 units compared to the same period last year. The company’s sales, however, improved 50 percent during the July-September quarter from 74,067 units in the April-June period of the current fiscal year, JLR said in a statement.
Electrosteel Castings, Srikalahasti Pipes: The board of directors of Electrosteel Castings (ECL) and Srikalahasti Pipes (SPL) has approved the proposed merger scheme of the two companies. Following the merger, the combined entity will become a leading manufacturer of ductile iron pipes.
Sobha: The company has reported strong sales for the second quarter of fiscal 21 despite the global outbreak of Covid-19, which has hit the real estate sector most heavily.
Ports of Adani and SEZ: The company said that it has acquired 75% of Krishnapatnam Port Company for Rs 3,375 crore.
Vodafone idea: Vodafone Group said that its lenders, who had helped finance the Vodafone Idea rights issue, approved the merger of Indus Towers with Bharti Infratel, and the two parties will now move NCLT to make the transaction effective.
HDFC: Major housing financier HDFC said its individual loan disbursements in the second quarter of 2020-21 reached 95 percent of the level in the prior year period and September saw the strongest recovery since the COVID-pandemic outbreak. 19, suggesting that business is returning. at pre-crisis levels.
HDFC Bank: The bank said it posted a 16% growth in advances in the September quarter, while deposits rose by a fifth.
OSE: The Banks Board Bureau (BBB), the headhunter for state banks and financial institutions, recommended the names of Swaminthan Janakiraman and Ashwini Kumar Tewari for the positions of Managing Director of the State Bank of India. Meanwhile, the bank is actively looking to convert its Yono digital platform into a separate subsidiary, said its chairman Rajnish Kumar.
RIL: Billionaire Mukesh Ambani’s Reliance Industries canceled the proposed merger of his group’s entertainment business with Sony Pictures Networks India after a strategic rethink.
Sterlite Technologies: Digital network integrator Sterlite Technologies has appointed Mihir Modi as its CFO. He will direct all financial affairs of the company and will work closely with the executive committee and the board of directors, the company said in a statement.
Marico: The company said it has witnessed a partial revival in consumer confidence in the second quarter of the current fiscal year after being hit by the COVID-19 pandemic.
Akzo Nobel: The company said business has recovered to 90-95% from pre-Covid levels due to an increase in demand for mass market products supported by rural recovery, suppressed demand and the upcoming holiday season.
Angel Broking: BNP Paribas Arbitrage sold over 5.24 lakh of Angel Broking shares, while Alphagrep Securities bought and sold almost the same number of shares at around Rs 280 per share. Previously, the shares debuted on the exchanges at a discount of 10 percent over the issue price.
Aurionpro solutions: The company pocketed an order of Rs 30 crore from NCT’s Department of Transportation, Delhi. The order involves the supply, commissioning and operation of the Automated Fare Collection System (AFC) for buses in Delhi for a fleet of more than 4,000 buses, according to a statement.
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