The Competitors Fee of India has cleared healthcare and power conglomerate Torrent Group’s proposal to accumulate a majority stake in IPL franchisee Gujarat Titans. “The proposed mixture pertains to the acquisition of 67 per cent of the shareholding (on a completely diluted foundation) of the goal (Irelia Sports activities India Pvt Ltd) and management by the acquirer (Torrent Investments),” a discover submitted to the CCI stated on Wednesday. Torrent Investments is the last word holding firm of the Torrent Group. Irelia Sports activities India operates the Ahmedabad franchisee of the Indian Premier League Gujarat Titans.
NTPC Inexperienced Vitality and Bharat Gentle and Energy have agreed to work collectively in inexperienced hydrogen area, an official assertion stated on Thursday. State-owned NTPC Inexperienced Vitality Ltd (NGEL) is the listed arm of energy big NTPC, whereas Bharat Gentle and Energy is a non-public clear power era participant. The memorandum of understanding between NGEL and BLP goals “to collectively discover the off-take of inexperienced hydrogen and its derivatives from NGEL and its associates to 3rd events,” NTPC stated.
Goldman Sachs has exited ISGEC Heavy Engineering, by promoting its 1.4 per cent stake within the firm for Rs 96 crore by an open market transaction. The US-based Goldman Sachs India Fairness Portfolio bought 10.43 lakh shares, or 1.42 per cent stake, in ISGEC Heavy Engineering at a median value of Rs 915.49. Nippon India Mutual Fund has acquired 8.32 lakh shares, or 1.13 per cent stake, in Noida-based ISGEC Heavy Engineering.
Kotak Mahindra Financial institution on Thursday introduced some senior-level appointments, underneath which Vyomesh Kapasi will transfer to the non-public sector lender as the top of merchandise within the shopper financial institution. Kapasi was earlier main its in-house NBFC Kotak Mahindra Prime. Firm veteran Shahrukh Todiwala has been elevated to exchange Kapasi, as per a press release.
Energy Finance Company by its a wholly-owned subsidiary PFC Consulting Restricted has integrated a particular objective automobile for the event of a transmission system for proposed inexperienced hydrogen initiatives in Andhra Pradesh. The SPV, Kakinada Transmission Ltd, has been integrated as a wholly-owned subsidiary of PFCCL to develop the transmission system for proposed inexperienced hydrogen/ inexperienced ammonia initiatives in Kakinada space (Section-I) transmission scheme.
Infrastructure firm Ceigall India has achieved monetary closure for 2 initiatives in Uttar Pradesh. Complete challenge worth is Rs 2,498.50 crore, Ceigall India stated in a press release. Each closures have been secured inside 83 days — nicely forward of the 150-day timeline set by the Nationwide Highways Authority of India (NHAI).
As many as 15 entities, together with promoters and officers of Electrosteel Castings, on Thursday settled an insider buying and selling case with Sebi after paying Rs 18 crore in settlement quantity. Other than the settlement quantity, a Sebi committee additionally requested the 15 entities to disgorge illegal features together with curiosity totalling Rs 11.68 crore. Additionally, the entities, together with Electrosteel Castings Managing Administrators Umang Kejriwal and Mayank Kejriwal, will voluntarily keep away from the securities markets for six months.
Vedanta on Thursday stated it has raised Rs 2,600 crore by issuance of non convertible debentures.
Tata Metal on Thursday stated it has acquired over 191 core fairness shares of T Metal Holdings Pte Ltd for USD 300 million (Rs 2,603.16 crore). T Metal Holdings Pte.Ltd (TSHP) is the Singapore-based arm of home-grown metal big Tata Metal.
Rail Vikas Nigam Ltd (RVN), together with HFCL and Aerial Telecom Options, has partnered with BSNL. Below the Venture Implementation Company (PIA) settlement, the consortium led by RVNL will develop, improve, and keep the middle-mile community for BharatNet
HG Infra Engineering has accomplished the sale of its total stake in Rewari Bypass to Highways Infrastructure Belief for Rs 133.03 crore.
JM Monetary knowledgeable the exchanges that it has obtained a tax order confirming a refund of Rs 230 crore, together with curiosity, for the evaluation yr 2008-09. The order, issued by the Deputy Commissioner of Revenue Tax on February 19, comes underneath Part 254 learn with Part 143(3) of the Revenue-tax Act, 1961.
