Nifty futures on the Singapore Exchange traded 52.5 points, or 0.28 per cent lower at 18,615.5, signaling that Dalal Street was headed for a negative start on Friday.
PNB/ UTI AMC: The Punjab National Bank (PNB) on Thursday said it received the government’s approval to divest its entire stake (15.22 per cent) in UTI Asset Management Company as part of its non-core asset sale plan to shore up its capital base. Read here
SBI: State Bank of India (SBI), the country’s largest lender, is planning to raise Rs 10,000 crore worth of infrastructure bonds during the current financial year. Read more
HDFC Bank: The private-sector lender has decided to elevate Kaizad Bharucha as deputy managing director and appoint Bhavesh Zaveri to the board as whole-time executive director. Read more
Tube Investments of India: The Murugappa Group company has acquired a 50 per cent stake in X2Fuels and Energy, an early-stage start-up incubated at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras. Read here
Indian Oil Corporation: ICICI Bank, ICICI Prudential Life Insurance, HDFC Life Insurance and SBI Life Insurance have entered into agreements to invest in seed capital of a proposed joint venture of Indian Oil Corporation and Chennai Petroleum Corporation. The project is expected to see an investment of Rs 31,580 crore.
TVS Motor: The company has expanded its global footprint and has launched its first showroom in Singapore.
Tata Steel Long: The company has further acquired 46.87 million shares at a premium of Rs 54 per share of Neelachal Ispat Nigam for Rs 300 crore (tranche 2).
PVR: PVR has opened 12 screen superlex in Thiruvananthapuram, Kerala.
Lupin: The US FDA has issued a Form-483 with eight observations each for the drug product facility and API facility of the company’s Mandideep unit-1.
West Coast Paper Mills: ICRA has revised the long-term rating to AA from AA-.
Veranda Learning Solutions: The company is collaborating with IIM Raipur and SHRM (Society for Human Resource Management) to launch an Executive Post Graduate Programme (Online MBA) in HR Management.
Biocon: The biotechnology major’s subsidiary Biocon Biologics has allotted equity shares worth Rs 2,205.63 crore to it as part of an equity infusion to fund the latter’s acquisition of Viatris Inc’s biosimilars business. In February, Biocon Biologics inked a pact to acquire Viatris Inc’s biosimilars business for consideration of about $3.34 billion.
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