RIL, Retail Future: Reliance Industries announced the acquisition of Future Group for Rs 24,713 crore to bolster its fast growing retail business. Through the deal, Reliance will acquire Future Retail, owner of BigBazaar, which sells everything from groceries to cosmetics to clothing, and Future Lifestyle Fashions, which operates the Brand Factory fashion discount chain.
GAIL: State-owned GAIL India is considering expanding into petrochemicals, specialty chemicals and renewable energy to complement the growth of its core natural gas trading and transportation business.
Jubilant FoodWorks: Jubilant FoodWorks, which operates the Dunkin ‘Donuts chain in India, has piloted a smaller kiosk model for the coffee and baked goods chain in the country and is evaluating opportunities to scale through the new format.
DCM Shriram: The arm of the DCM Shriram business conglomerate, Fenesta, has invested around Rs 25 million to establish a factory in Bhiwadi, Rajasthan, for the manufacture of aluminum windows and doors, as it seeks to expand the portfolio and gain market share.
Hindustan Zinc: Vedanta Group firm Hindustan Zinc Ltd (HZL) has started a detailed exercise for the next phase of expansion and is focused on creating long-term sustainable value for stakeholders, according to its annual report.
Tata Consumer: The company believes there is enough room to grow in the staple and packaged food space and is now expanding the offline reach of its Sampann spice and legume brand. The company is taking advantage of commodity spaces and driving the conversion from unbranded to branded products in beverages and food, according to PTI.
Ports of Adani: The promoters of Adani Ports and the Special Economic Zone have pledged 206.09 lakh of company shares in favor of Credit Suisse AG to raise 430 million rupees for a group company, according to a regulatory document.
Suzlon Energy: Suzlon Energy reported an extension of its consolidated net loss to Rs 398.86 crore in the April-June quarter compared to the same period last year, mainly due to lower revenues. The company’s consolidated net loss was Rs 336.88 million in the quarter ended June 30, 2019, according to a BSE document.
NMDC: NMDC approved the spin-off of its next three million tonnes per year capacity steel plant in Chhattisgarh, the PSU said. “The Board of Directors of the company at its meeting held on Thursday August 27, 2020, among other things, has approved in principle the proposal to spin off its NMDC Ironand Steel (NISP) plant, Nagarnar, Chhattisgarh,” NMDC said. in a presentation to the stock exchanges on Friday.
Wockhardt: The company reported on Saturday a consolidated net profit of Rs 759.75 million for the June quarter, primarily due to exceptional items in connection with the transfer of a business comprising 62 products and the Baddi facility to Dr Reddy’s Laboratories. It had recorded a net loss of Rs 36.88 crore for April-June 2019-20.
Adani Companies: Adani Enterprises said its promoter SB Adani Family Trust has pledged 5 lakh of company shares in favor of SBICAP Trustee Company Ltd as collateral against the Rs 500 million loan from SBI.
RBL Bank: The private sector RBL Bank said that its managing director and chief executive, Vishwavir Ahuja, has sold shares worth more than 38.5 million rupees in the bank, mainly to pay off personal debts and meet family commitments.
ITC: Diversified business entity ITC said it is considering the merger of its three wholly owned subsidiaries: Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah.
Indiabulls companies: The company said that it will raise Rs 588 crore by issuing preferred shares to certain foreign investors.
Uniply, Shre Renuka: More than 100 companies are expected to report their June quarter results on Monday. Some of the companies on the list include Uniply Industries, Prozone Intu Properties, Shree Renuka Sugars, Prakash Industries, and GNFC.
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