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Table of Contents
1.New Orders
Tata Steel Ltd. Amalgamation with Angul Energy Limited |
Systematix Corporate Services Limited has been penalized by the Securities and Exchange Board of India (SEBI) with a fine of Rs. 7 lakhs. The company was found to have not exercised due care and diligence as a Category I Merchant Banker in an IPO issue and failed to maintain a separate SDD for merchant banking activities. Furthermore, the company did not make the requisite 50 status updates in the SI portal in a timely manner. However, it is important to note that there is no material impact on the financial, operational, or other activities of Systematix Corporate Services Limited. https://www.bseindia.com/xml-data/corpfiling/AttachLive/2a5828e3-55a3-4844-badd-817c760c0133.pdf |
Alfa Transformers Ltd. has announced the receipt of a significant purchase order valued at Rs. 1.99 Crore from Tata Power Northern Odisha Distribution Limited (TPNODL). The order involves the design, manufacturing, and supply of 100KVA transformers from their Bhubaneswar plant. This domestic contract is to be executed within 120 days from the date of receipt. There are no related party transactions or promoter interests involved in this order. https://www.bseindia.com/xml-data/corpfiling/AttachLive/004a5d68-ae39-4e6e-b6ec-ad305a5db5c7.pdf |
GE T&D India Limited has announced the receipt of a significant order from Grid Solutions SAS, France. The contract involves the supply and supervision of high voltage products, valued at 64 million Euros, to be executed over a period of 2 years. This order is classified as a related party transaction, conducted at arm's length, and forms part of a larger project executed by the group company for the end customer. This information complies with Regulation 30 of the Listing Regulations and SEBI Circular dated 13 July 2023. https://www.bseindia.com/xml-data/corpfiling/AttachLive/cbf9b30b-7da6-4ad4-86e5-c15efee28eb7.pdf |
GE T&D India Limited has announced the receival of a significant order from GRID SOLUTIONS Middle East FZE, Dubai. The contract involves the supply and supervision of high voltage products, valued at 26 million Euros, to be executed over a period of 2 years. This order is classified as a related party transaction, conducted at arm's length, and forms part of a larger project executed by the group company for the end customer. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3078a7a1-e3ab-4fe8-b531-c3a631b9ef87.pdf |
Taneja Aerospace and Aviation Limited (TAAL) has secured a significant order from Bharat Electronics, a Government of India enterprise, for the modification and installation of the SARANG system on Kamov-31 aircraft. The contract involves 12 units with a total basic order value of ₹**14,47,80,000** to be executed over the next three years. This domestic service contract does not involve any related party transactions and is expected to be completed by 30.06.2027. https://www.bseindia.com/xml-data/corpfiling/AttachLive/48fe658c-0bd3-4400-b3a1-01fa46f4d37e.pdf |
2. Business updateKreon Financial Services Ltd. has announced a significant business update as of 3rd July 2024. The company has been awarded the GST Appreciation Certificate for the fiscal year 2023-24 by the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India. This marks the second consecutive year that Kreon Financial Services Ltd. has received this prestigious recognition. This highlights their consistent commitment to timely financial compliance and economic contribution. |
Supra Pacific Financial Services Ltd reported significant business updates for the quarter ending June 30, 2024. The company's Assets Under Management (AUM) grew from ₹**129 Cr** to ₹**160 Cr**. The breakdown of AUM is as follows: ₹**123 Cr** in Gold Loans, ₹**26 Cr** in Two-Wheeler Loans, ₹**10 Cr** in Micro Finance Loans, and ₹**1 Cr** in Other Loans. Furthermore, the total number of branches increased from 53 to 55 during this period. The provided data is provisional and subject to a limited review by the statutory auditors. https://www.bseindia.com/xml-data/corpfiling/AttachLive/5680795c-9dc6-49b6-8ae0-f9dab4e8d63b.pdf |
L&T Finance Ltd reported significant growth in its business for the quarter ended June 30, 2024. The retailisation of the portfolio is projected to reach 95% by Q1FY25, up from 82% in Q1FY24. Retail disbursements are estimated at ₹14,830 crores for Q1FY25, marking a 33% year-on-year increase. The retail loan book is expected to grow by 31% year-on-year, reaching ₹84,440 crores by the end of Q1FY25. Key segments contributing to this growth include: |
Sharda Motor Industries Ltd has completed the buyback and extinction of 10,27,777 fully paid-up equity shares, each with a face value of INR 2, at a buyback price of INR 1,800 per share, totaling an aggregate amount of INR 1,84,99,98,600. Post-buyback, the company's issued, subscribed, and fully paid-up share capital stands at 2,87,03,853 equity shares, down from 2,97,31,630 equity shares. The buyback was conducted in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The pre and post-buyback shareholding pattern shows a slight decrease in promoter shareholding from 73.20% to 73.01%, while non-promoter shareholding adjusted from 26.80% to 26.99%. https://www.bseindia.com/xml-data/corpfiling/AttachLive/22c04152-fcc9-46be-8dd0-d61b2e621aac.pdf |
3. Buy backSharda Motor Industries Ltd has completed the buyback and extinguishment of 10,27,777 fully paid-up equity shares, each with a face value of INR 2, at a buyback price of INR 1,800 per share, totaling an aggregate amount of INR 1,84,99,98,600. |
Aditya Vision Ltd held a Board Meeting on July 03, 2024. During the meeting, several key decisions were made: |
CUPID TRADES & FINANCE LTD. has officially changed its name to CUPID BREWERIES AND DISTILLERIES LIMITED following approval by its members during an EGM onMay 09, 2024. The Registrar of Companies, Mumbai, issued the Certificate of Incorporation for the name change on July 02, 2024. The company is in the process of updating necessary documents with the stock exchanges to reflect this change. The new name must be displayed alongside the old name for two years as per regulatory requirements. https://www.bseindia.com/xml-data/corpfiling/AttachLive/aae2e48d-ac15-4cb6-94b6-33e08061d052.pdf |
4. FDA ObservationAlembic Pharmaceuticals Ltd. has received 11 USFDA product approvals (both final and tentative) during the quarter ended June 30, 2024. The approvals include treatments for various conditions such as: |
Creative Castings Ltd reported a fire incident at their Dispatch Department in Junagadh, Gujarat on May 17, 2024. The company confirmed no injuries or loss of life and stated that production facilities were unaffected. The dispatch operations have been temporarily relocated to another shed. The total damage was valued at Rs. 21,99,598.00, with an insurance claim of Rs. 21,99,598.00. The company realized Rs. 9,00,000.00 from insurance and Rs. 2,70,000.00 from salvage, totaling Rs. 11,70,000.00. Reconstruction is expected to be completed by August 2024. https://www.bseindia.com/xml-data/corpfiling/AttachLive/0ceced22-ce0b-4357-bc35-eee5273f611c.pdf |
Intra Switchgear Ltd. is undergoing an open offer by Northvale Capital Partners Private Limited to acquire up to 7,49,216 equity shares, representing 26% of the company's fully paid-up equity and voting share capital, at a price of Rs. 12 per share. The offer period is from July 16, 2024, to July 30, 2024. |
5. Preferential issueVraj Iron And Steel Ltd has been actively tracked on the S&P BSE SENSEX, with live updates available on the BSE Ltd. website. The stock's performance can be monitored through various tools such as the Equity Market Watch, Derivatives Market Watch, and Currency Market Watch. Investors can access detailed information on gainers, losers, volume toppers, and corporate announcements related to the stock. For historical data, trading summaries, and daily updates, the BSE provides comprehensive resources. This ensures that investors stay informed about the latest market trends and stock movements. https://www.bseindia.com/xml-data/corpfiling/AttachLive/ |
Hybrid Financial Services Ltd is a company incorporated under the Companies Act, 1956, with its registered office in Mumbai. The company is engaged in providing financial services, including management consultancy, debt recovery advice, and various other consultancy services in fields such as financial, commercial, legal, and taxation. As of March 31, 2023, the authorized capital of Hybrid Financial Services Ltd is ₹35,00,00,000, with an issued, subscribed, and paid-up capital of ₹14,71,81,375. The company is listed on the Bombay Stock Exchange and the National Stock Exchange. The merger by absorption of Maximus Securities Limited, a wholly-owned subsidiary, aims to streamline operations, reduce costs, and enhance shareholder value. https://www.bseindia.com/xml-data/corpfiling/AttachLive/9a9273a2-c46b-4301-863b-c791e74834a1.pdf |
Universal Autofoundry Limited has announced an alteration in the Object Clause of its Memorandum of Association (MOA) as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This change, approved by the Board of Directors on July 03, 2024, aims to broaden the scope of the company's activities to facilitate diversification into profitable areas and cost-saving measures. The current Object Clause is considered restrictive, and the alteration will enable the company to explore new projects and activities. This strategic move is subject to the approval of the company's members. https://www.bseindia.com/xml-data/corpfiling/AttachLive/25e3509e-33f2-4e25-93e1-6d55b331ce8a.pdf |
Ishaan Infrastructures and Shelters Ltd has announced the cancellation of its Board Meeting scheduled for July 3, 2024, due to unavoidable reasons. The meeting was intended to discuss: |
Tinna Trade Ltd held a Board of Directors meeting on July 03, 2024, where they approved several key business decisions. The authorized share capital was increased from ₹43 crore to ₹44 crore by creating an additional 10 lakh equity shares. They also approved a preferential issue of up to 10,72,460 equity shares at ₹300 per share, raising approximately ₹32.17 crore, and a preferential issue of up to 5,64,350 fully convertible warrants at ₹300 per warrant, totaling around ₹16.93 crore. Additionally, Ms. Puja Sekhri and Mr. Aditya Brij Sekhri were appointed as Executive Directors. An Extraordinary General Meeting (EGM) is scheduled for August 03, 2024, to seek necessary approvals for these actions. https://www.bseindia.com/xml-data/corpfiling/AttachLive/218d05d2-9b32-4a8d-8889-c1b4c069a467.pdf |
6. Press releaseMarico Ltd. has announced a strategic collaboration with Kaya Ltd. to enhance the distribution and marketing of Kaya's 75+ science-backed personal care products. This partnership aims to leverage Marico's extensive sales and marketing capabilities to build an omni-channel presence for Kaya's dermatologist-recommended products. These products include solutions for acne, brightening, sun care, anti-ageing, and hair care. The collaboration is expected to boost brand visibility and customer engagement, driving growth for both companies. |
Kaya Limited has announced a collaboration with Marico Limited to enhance the distribution and marketing of Kaya's 75+ science-backed personal care products. This partnership aims to leverage Marico's extensive sales and marketing capabilities to build an omni-channel presence for Kaya's dermatologist-recommended products. Some of these products include solutions for acne, brightening, sun care, anti-ageing, and hair care. Currently, Kaya's products are available through leading e-commerce platforms and 70+ Kaya Skin Clinics across India. The collaboration is expected to boost brand visibility, expand geographical reach, and drive long-term consumer engagement. https://www.bseindia.com/xml-data/corpfiling/AttachLive/de06cbdf-c1a3-4303-b00d-51bc0f4eee97.pdf |
7Seas Entertainment Ltd has announced the establishment of a dedicated AI division, 7SEAS AI, to enhance its game development capabilities. This strategic move aims to integrate next-generation AI technologies into the entire game development process, significantly improving productivity and quality. The company is also developing a comprehensive AI gaming tool, featuring image creation, asset generation, graphic generation, and animation generation. Initially for internal use, 7Seas plans to monetize this tool by out-licensing it to other users, generating additional revenue through royalty payments. CEO L. Maruti Sanker highlighted that AI is expected to contribute to more than half of the video game development process over the next 5 to 10 years. https://www.bseindia.com/xml-data/corpfiling/AttachLive/417b1498-6bcd-4f97-8cd6-68e5da6f58ae.pdf |
VMS Industries Ltd. has declared its first interim dividend for the financial year 2024-25 at a rate of Rs. 0.50 per equity share, which is 5% of the face value of Rs. 10 per share. The dividend will be paid on or before August 02, 2024, to shareholders on record as of July 11, 2024. The company reported a significant revenue growth of 89.74% in FY'24, reaching Rs. 26,637.28 lakhs, with a full-year PAT increase of 152.86% to Rs. 631.53 lakhs. VMS Industries Ltd. is optimistic about future growth, particularly in ship recycling and asset dismantling, leveraging its strong financial performance and strategic initiatives. https://www.bseindia.com/xml-data/corpfiling/AttachLive/baa80453-580f-4aa2-82fe-52ad2d8f0fa5.pdf |
Brigade Enterprises Ltd. has signed a Joint Development Agreement for a residential project on Tumkur Road, Bengaluru, spanning 8 acres with a development potential of approximately 1.2 million square feet. The project, valued at around Rs. 1100 crores, will feature primarily two and three-bedroom apartments, designed with ample green spaces and modern amenities. This initiative aligns with Brigade's strategic vision to expand in key growth corridors and enhance the urban living experience. The project is part of a broader pipeline of over 12 million square feet of residential developments planned across Bengaluru, Chennai, and Hyderabad**. (Prakash et al., n.d.) https://www.bseindia.com/xml-data/corpfiling/AttachLive/69a10efa-fda6-4bc4-9317-c45b4151a97f.pdf |
VMS Industries Ltd. has declared a first interim dividend of Rs. 0.50 per equity share (5% on face value of Rs. 10) for the financial year 2024-25. The dividend will be paid on or before August 02, 2024, to shareholders on record as of July 11, 2024. The company reported its highest-ever annual revenue of Rs. 26,637.28 lakhs in FY 2023-24, marking an 89.74% growth. Full-year PAT increased by 152.86% to Rs. 631.53 lakhs. VMS Industries is engaged in ship recycling, trading of various metals, and asset dismantling/demolition. The company has significant growth prospects in these sectors. https://www.bseindia.com/xml-data/corpfiling/AttachLive/264b9a50-a6a5-4f7b-b29c-7c76564c8c60.pdf |
Aayush Wellness Limited (formerly known as Aayush Food and Herbs Limited), has launched a new online platform to enhance the accessibility and reach of its health and wellness products across India. This strategic move aims to ensure that even the most remote and underserved areas can benefit from high-quality wellness solutions. The company, a trusted provider of food-oriented products and supplements, is committed to promoting holistic wellbeing and catering to the evolving needs of its customers. By leveraging cutting-edge e-commerce technology and a robust distribution network, Aayush Wellness is poised to bridge the gap between urban and rural healthcare access, ensuring a healthier life for all. https://www.bseindia.com/xml-data/corpfiling/AttachLive/1d19b6d5-3c75-44d9-a6d5-aea4315bdebe.pdf |
Veranda Learning Solutions Ltd has announced an enhanced strategic partnership with Pearson to introduce comprehensive and hybrid test preparation content for the Bank Probationary Officers (Bank PO) examination in India. This initiative aims to support over 3 million students preparing for these exams annually. |
ABB India Limited has announced that Mahindra & Mahindra (M&M) will deploy ABB Robotics’ PixelPaint technology for its new electric vehicle (EV) paint facility, starting serial production in 2025. This innovative technology, featuring over 1,000 individually controlled nozzles, ensures precise application with zero waste, eliminating the need for manual masking and repeat trips through the paint shop. The deployment includes 42 robots from the IRB 5500 family, making M&M the first OEM in India to use PixelPaint for painting contrasting roofs and pillars. This collaboration aims to enhance quality, efficiency, and personalization options for M&M's new line of EVs. https://www.bseindia.com/xml-data/corpfiling/AttachLive/271b68ed-969f-40b0-a737-0da1b813953e.pdf |
Mahindra Holidays & Resorts India Ltd. has announced that its resorts in Kumbhalgarh, Ooty, and Madikeri have received the prestigious Platinum certifications from the Indian Green Building Council (IGBC). The Udaipur resort earned a Gold certification. This recognition underscores the company's commitment to sustainability and environmental responsibility. Notable achievements include the Madikeri resort scoring 87 out of 100 points on the IGBC evaluation. The resorts have implemented advanced water and energy conservation measures, including a 75 KLD sewage treatment plant and a 325 KWp renewable energy system. These efforts contribute to the company's goal of achieving carbon neutrality by 2040. https://www.bseindia.com/xml-data/corpfiling/AttachLive/395f5c4b-1b01-4ae4-a5e0-cd6400eee60d.pdf |
One 97 Communications Ltd has launched the Paytm Health Saathi plan, offering affordable healthcare and income protection for its merchant partners. Starting at just Rs. 35 per month, the plan includes unlimited doctor teleconsultations, in-person doctor visits, and income protection against business interruptions due to accidents or natural calamities. The service, powered by MediBuddy, also provides discounts at leading pharmacies and on diagnostic tests. The pilot, initiated in May, saw over 3000 merchants enroll, leading to a broader rollout earlier this month. This initiative underscores Paytm's commitment to supporting its merchant ecosystem by providing comprehensive and affordable coverage. https://www.bseindia.com/xml-data/corpfiling/AttachLive/e96e53aa-47b7-4ef6-9150-a2c4c8be9f52.pdf |
Persistent Systems Ltd. has announced the acquisition of Starfish Associates, a New Jersey-based company known for its cutting-edge Enterprise Communications automation platform. This strategic move, dated July 3, 2024, aims to bolster Persistent's capabilities in AI-powered contact centers and unified communications. The acquisition will enhance Persistent's AI-driven business transformation capabilities, integrating Starfish's platform with Persistent's automation expertise to optimize workflows and operational efficiencies. This collaboration is expected to significantly benefit Persistent's global clients, providing advanced solutions in the rapidly evolving contact center industry. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3cb07508-195b-4dcc-8115-e40661d43d11.pdf |
Infosys Ltd. has announced a significant initiatives through its philanthropic arm, Infosys Foundation, aimed at enhancing the employability of young learners in rural India. The foundation has signed an MoU with ICT Academy of Tamil Nadu, pledging over INR 33 crore to skill 48,000 students in engineering, arts, and science over three years. |
Carysil Ltd has successfully completed a Qualified Institutions Placing (QIP) of equity shares, raising approximately ₹125 crore. The Capital Raising Committee approved the allotment of 15,70,351 equity shares at an issue price of ₹**796** per share, which includes a premium of ₹**794** per share. This issuance increased the company's paid-up equity share capital from ₹**5,36,90,510** to ₹**5,68,31,212**. |
8. Qualified Institutional PlacementCarysil Limited has announced the outcome of its Capital Raising Committee meeting held on July 03, 2024. The committee approved the closure of the qualified institutions placement (QIP) of equity shares, allocating 15,70,351 equity shares at an issue price of ₹796 per share. This price reflects a 5% discount to the floor price of ₹837.89 per share. According to SEBI ICDR Regulations, the premium was ₹794 per share. The committee also finalized the confirmation of allocation notes for qualified institutional buyers and adopted the placement document dated July 03, 2024. Furthermore, refund intimation letters will be issued to bidders entitled to refunds. The meeting commenced at 6:00 p.m. and concluded at 6:35 p.m. https://www.bseindia.com/xml-data/corpfiling/AttachLive/7df948ce-af75-45f8-ba34-ac109679e776.pdf |
Persistent Systems Ltd. has announced the acquisition of Starfish Associates, LLC, USA through its wholly-owned subsidiary, Persistent Systems Inc., USA. The acquisition, valued at $20.7million*, includes an upfront payment of $20.7 million*, an earnout of up to $5.1million over two years, and a retention payment of $5.1 million for key employees. |
9. New AcquisitionsMKP Mobility Ltd. has acquired 49% equity share capital of CMR-Kataria Recycling Private Limited, a company incorporated on August 6, 2020. The acquisition, valued at Rs. 1.30 Cr, was completed entirely in cash. |
Reliance Capital Ltd. has undergone significant changes as per the latest updates. CARE Ratings revised the rating for Reliance Capital Ltd. from "CARE D; Issuer Not Co-operating" to "CARE D" for long-term debt and "CARE PP-MLD D" for market-linked debentures(n.d.). The National Company Law Tribunal (NCLT) approved the resolution plan submitted by IndusInd International Holdings Ltd (IIHL) on February 27, 2024, which includes the settlement of Reliance Capital Ltd.'s entire debt(n.d.). A Monitoring Committee has been established to implement this plan(n.d.). The company has faced continuous delays in debt servicing, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) by the Reserve Bank of India (RBI) on December 6, 2021(n.d.). https://www.bseindia.com/xml-data/corpfiling/AttachLive/dc6b1727-df51-4da1-ab7e-8a56c1ec8ed5.pdf |
10. Credit RatingInox India Ltd reaffirms its credit ratings by CARE Edge, maintaining a rating of CARE AA-; Stable / CARE A1+ for its bank facilities, with the rated amount enhanced to ₹835 crore. |
Bank of India has reported under Regulation 30 and Regulation 55 of SEBI (LODR) Regulations regarding the credit rating of its Long Term Infra Bond and Non-Convertible Tier II Bonds. The rating agency, CARE Ratings Ltd., has assigned an AA+ Stable rating to the new issue of Long Term Infra Bonds and reaffirmed the same rating for the Tier II Bonds with ISIN INE084A08060. The ratings were verified on 03.07.2024. This information is intended for dissemination to relevant stakeholders. https://www.bseindia.com/xml-data/corpfiling/AttachLive/67e637ca-0082-466a-b966-6fc5e38566db.pdf |
LARSEN & TOUBRO LTD. has received a first-time credit rating of "BBB+" with a stable outlook from Fitch Ratings. This rating applies to both the company's long-term foreign and local-currency issuer default ratings. The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. For further details, the rating rationale can be accessed on Fitch Ratings' website. https://www.bseindia.com/xml-data/corpfiling/AttachLive/10708080-8b9d-43d5-a157-d735b83ea498.pdf |
Larsen & Toubro Ltd. has disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that CRISIL Ratings Limited reaffirmed the company's ratings on July 2, 2024. The ratings are "CRISIL AAA (stable)/ Crisil A1+" for their bank loan facilities,existing debt instruments, and commercial papers. This reaffirmation underscores the company's strong creditworthiness and stable outlook. For further details, the rating rationale is available on the CRISIL Ratings website. https://www.bseindia.com/xml-data/corpfiling/AttachLive/09e93989-9e1e-46d2-84e3-e9bb42be4685.pdf |
Silicon Rental Solutions Ltd has disclosed under Regulation 30 of the SEBI Listing Regulations that CRISIL Ratings Limited has assigned a credit rating of CRISIL BBB/Stable for their Overdraft Facility amounting to Rs. 5 crore. This rating action was communicated via letters dated June 29, 2024. The company has requested the BSE SME Platform to take this information on record and acknowledge receipt. https://www.bseindia.com/xml-data/corpfiling/AttachLive/efa0a9cd-9905-44d2-bd6b-fa978d95e66d.pdf |
Jio Financial Services Ltd (JFS), formerly known as Reliance Strategic Investments Limited, is a key player in the financial services sector, backed by the extensive track record of its promoter group in sectors like petrochemicals, retail, and telecom. As of March 31, 2024, JFS reported a consolidated net worth of Rs 1,39,148 crore, including a 6.1% stake in Reliance Industries Ltd (RIL) valued at approximately Rs 1.23 lakh crore. The company has strong liquidity with liquid assets of about Rs 22,000 crore and negligible gearing. |
Nile Limited has received a credit rating from CARE Ratings Limited for its bank facilities. The company has been assigned a CARE A-; Stable rating for its long-term bank facilities amounting to ₹60.00 crore and a CARE A2+ rating for its short-term bank facilities amounting to ₹30.00 crore. The ratings are valid for one year from the initial communication date of July 01, 2024. The ratings reflect the company's financial stability and creditworthiness. The rationale for the rating will be communicated separately. https://www.bseindia.com/xml-data/corpfiling/AttachLive/7d503a25-f9d2-4a01-a12b-874db501e293.pdf |
Ajanta Soya Ltd. has received a revised credit rating from CRISIL. The long-term rating of the company has been upgraded to CRISIL BBB-/Stable from CRISIL BB+/Stable. The short-term rating has been upgraded to CRISIL A3 from CRISIL A4+. The total bank loan facilities rated amount to Rs. 170 Crore. The company is an ISO 22000:2005 certified entity. Ajanta Soya Ltd. has its corporate office located at 12th Floor, Bigjo’s Tower, A-8, Netaji Subhash Place, Wazirpur District Centre, Delhi-110 034. |
Union Bank of India has received an upgrade in its credit ratings from India Ratings and Research Private Limited as of July 2, 2024. The bank's Long-Term Issuer Rating and various bonds have been upgraded to '**IND AAA**' with a stable outlook. This upgrade reflects the bank's improved capital position, better asset quality, and enhanced profitability. The bank's net non-performing asset (NNPA) ratio has declined to about 1.0% in FY24, and its return on assets (RoA) has improved to 1.1%. Additionally, Union Bank of India has raised INR80 billion in equity in FY24 and plans to raise another INR60 billion in FY25 to further strengthen its capital buffers. https://www.bseindia.com/xml-data/corpfiling/AttachLive/072703dc-aee1-47f8-b128-5386d0c64d1d.pdf |
Jaykay Enterprises Ltd. has executed a loan agreement with its wholly owned subsidiary, JK Defence & Aerospace Limited, for a disbursement of INR 2 Crores. The loan, which carries an interest rate of 10% per annum, will be used by JK Defence to repay its outstanding obligations to financial institutions. The loan is structured as an inter-corporate deposit and is unsecured. The agreement was executed on July 03, 2024. The total outstanding amount, excluding this loan, is INR 69.53 Crores. The transaction is conducted on an arm's length basis and does not involve any issuance of shares or significant changes in capital structure. https://www.bseindia.com/xml-data/corpfiling/AttachLive/76a3bd3e-705d-48be-9a10-2a565be24054.pdf |
NMS Resources Global Ltd has signed a Memorandum of Understanding (MoU) on July 2, 2024, with Boston Supplies Resources Pty. Ltd., an Australian company with over two decades of experience in mining and exploration. This partnership aims to source mines, minerals, and real estate deals for Indian ventures and buyers exclusively through NMS Global Ltd. |
KFin Technologies Ltd has completed the disinvestment of its entire 20.95% stake in Fintech Products and Solutions (India) Private Limited (FPSIPL) as of July 03, 2024. This transaction was initially announced on July 02, 2024. The completion of this transaction was confirmed in compliance with BSE Circular No. 20230714-34 and NSE Circular No. NSE/CML/2023/57, both dated July 14, 2023. https://www.bseindia.com/xml-data/corpfiling/AttachLive/36349892-f2d3-45ba-966e-6ea0c524199b.pdf |
Zee Media Corporation Limited has announced the incorporation of a wholly-owned subsidiary, named Pinews Digital Private Limited. This new entity, approved by the Ministry of Corporate Affairs on July 3, 2024, will focus on mainstream media through a Hyper Local App driven by Artificial Intelligence. |
Asian Paints Ltd. has announced, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that its Board of Directors approved the subscription to 4,79,00,000 equity shares of its wholly-owned subsidiary, Asian Paints International Private Limited (APIPL), Singapore. These shares were issued at SGD 0.67 per share, amounting to a total consideration of approximately SGD 32.1 million (around Rs. 200 crores). The company has now completed the subscription process for these shares. https://www.bseindia.com/xml-data/corpfiling/AttachLive/1759a2e4-0a6c-4748-b4c6-5cb0be88eaf2.pdf |
Popees Cares Ltd has announced the resignation of its Chief Financial Officer (CFO), Mr. Rahul Mohan, effective from the close of business on July 3, 2024. Mr. Mohan has decided to pursue opportunities outside the company, as stated in his resignation letter dated July 3, 2024. The company has complied with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in notifying this change. The resignation details are documented in Annexure I, which accompanies the official communication. https://www.bseindia.com/xml-data/corpfiling/AttachLive/c9efe3ea-f2d5-4cab-a2e7-5b286eed0423.pdf |
Mackinnon Mackenzie & Co. Ltd. has announced the resignation of its statutory auditor, M/s. Gupta Ravi & Associates, due to the closure of their Mumbai office. The resignation is effective from July 3, 2024. The firm had been appointed on August 22, 2022, and their term was set to expire at the conclusion of the AGM for FY 2026-27. The latest audit report was issued on May 22, 2024, for the quarter ending March 31, 2024. The auditors confirmed no other reasons for their resignation and no major concerns prior to their departure. https://www.bseindia.com/xml-data/corpfiling/AttachLive/da511e1e-71c3-44e2-a255-7937752380c5.pdf |
NUTECH GLOBAL LTD has announced the resignation of its statutory auditors, M/s RHDA & Associates, effective from June 28, 2024. The resignation is due to the dissolution of the audit firm. |
Rajath Finance Limited has experienced a significant change with the resignation of its statutory auditor, A. D. Vyas & Co., effective from September 27, 2019. The auditor's term was initially set to expire at the conclusion of the 39th Annual General Meeting in the financial year 2024-25. The resignation was primarily due to the auditor's preoccupation with other assignments. |
MM Rubber Company Ltd. has announced a change in its statutory auditors under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. |
S.R. Industries Ltd. is undergoing a Corporate Insolvency Resolution Process (CIRP) initiated by UCO Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Resolution Professional, Mr. Rajender Kumar Jain, has filed an application for the approval of a Resolution Plan submitted by Bazel International Limited, which was approved by the Committee of Creditors (CoC) with a 98.30% majority. The plan includes a gross amount of ₹11.70 crores for distribution among stakeholders, which is 121% of the Liquidation Value and around 81% of the Fair Market Value of the Corporate Debtor. The National Company Law Tribunal (NCLT) has approved the Resolution Plan, directing its implementation within 90 days from the effective date of the order. https://www.bseindia.com/xml-data/corpfiling/AttachLive/368e421c-f3e5-4ba2-92b9-bda5d893e5c4.pdf |
11. Rights issueViji Finance Ltd held a Right Issue Committee meeting on July 3, 2024, approving the allotment of 6,00,00,000 fully paid-up equity shares at a price of Rs. 1.50 per share, totaling Rs. 9.00 Crores. This increased the company's paid-up share capital to Rs. 14,25,00,000. The meeting commenced at 5:55 PM and concluded at 6:45 PM. (n.d.) https://www.bseindia.com/xml-data/corpfiling/AttachLive/1ce42a8e-2db7-4177-9e53-4ef9d3878e54.pdf |
La Tim Metal & Industries Ltd. held a Right Issue Committee meeting on July 3, 2024. They approved issuing a First Reminder-Cum-Forfeiture Notice to 24,21,711 partly paid-up equity shareholders. The notice pertains to the payment of the first and final call money of Rs. 4.25 per share, which includes Rs. 8.50 towards face value and Rs. 7.50 towards Securities Premium. The payment period is set from July 8, 2024, to July 23, 2024. Further details will be included in the notice dispatched to the shareholders and published in due course. https://www.bseindia.com/xml-data/corpfiling/AttachLive/05b0ee57-cd04-4fb8-806a-b9b1cbfa814a.pdf |
Spright Agro Limited (formerly known as Tine Agro Limited) has announced an extension for the closing date of its ongoing Rights Issue. Initially set to close on July 12, 2024, the new deadline for receipt of applications is now July 23, 2024. Additionally, the last date for On-Market Renunciation for Rights Entitlement has been extended from July 8, 2024, to July 16, 2024. This extension is in compliance with Regulation 87 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The decision was made by the Rights Issue Committee during their meeting on July 3, 2024. https://www.bseindia.com/xml-data/corpfiling/AttachLive/480e659e-e025-4c13-84d1-5f4419aa2e73.pdf |
Spright Agro Limited (formerly known as Tine Agro Limited) has announced an extension for the closing date of its ongoing Rights Issue. The Rights Issue Committee, in a meeting held on July 03, 2024, decided to extend the last date for receipt of applications from July 12, 2024, to July 23, 2024. Additionally, the last date for On-Market Renunciation for Rights Entitlement has been extended from July 08, 2024, to July 16, 2024. This extension is in compliance with Regulation 87 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. https://www.bseindia.com/xml-data/corpfiling/AttachLive/2de535c6-3351-45ba-ab02-3a3366ceed13.pdf |
Naperol Investments Limited (formerly known as National Peroxide Limited) has undergone a significant restructuring. The company executed a demerger, transferring its chemical business to National Peroxide Limited (formerly NPL Chemicals Limited). This demerger became effective on September 11, 2023. |
Asian Granito India Ltd. has received "No-objection" letters from BSE Limited and the National Stock Exchange of India Limited for its proposed Scheme of Arrangement involving Asian Granito India Limited, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited (Mumbai-400 051, Mumbai-400 051). The scheme, approved by the company's Board on August 12, 2024, is subject to further statutory and regulatory approvals, including from the Hon'ble National Company Law Tribunal (NCLT) and respective shareholders and creditors (Mumbai-400 051, Mumbai-400 051). SEBI has provided specific comments and conditions, such as ensuring disclosure of ongoing legal proceedings and compliance with various SEBI Circulars (Mumbai-400 051, Mumbai-400 051). The scheme's details, including financials and impact on revenue, must be prominently disclosed to shareholders (Mumbai-400 051, Mumbai-400 051). The validity of the Observation Letter is six months from July 1, 2024 (Mumbai-400 051, Mumbai-400 051). https://www.bseindia.com/xml-data/corpfiling/AttachLive/98102ff1-47e1-487f-b141-aa73383e25bd.pdf |
Asian Granito India Ltd. has received "No-objection" letters from BSE Limited and the National Stock Exchange of India Limited regarding its proposed Scheme of Arrangement. This scheme involves multiple entities, including Affil Vitrified Private Limited and Ivanta Ceramics Industries Private Limited, and others. The approval is under sections 230 to 232 of the Companies Act, 2013. The scheme remains subject to further statutory and regulatory approvals, including from the Hon’ble National Company Law Tribunal and respective shareholders and creditors. The company must ensure compliance with SEBI regulations, including disclosure of ongoing adjudication and recovery proceedings, and ensure that all financials are up-to-date and prominently disclosed to shareholders. (Mumbai-400 051 Mumbai-400 051, n.d.) https://www.bseindia.com/xml-data/corpfiling/AttachLive/1a5c5d98-1d16-4875-ab0e-eaabf437b1d5.pdf |
Asian Paints Ltd. held its 78th Annual General Meeting (AGM) on June 25, 2024, via video conference. The company reported a standalone revenue growth of 2.6% to Rs. 30,728 crores and a profit after tax increase of 29.8% to Rs. 5,322 crores for the financial year 2023-24. At the consolidated level, revenue grew by 3.0% to Rs. 35,382 crores, with a net profit after tax rising by 32.5% to Rs. 5,558 crores. The Board recommended a final dividend of Rs. 28.15 per equity share, bringing the total dividend for the year to Rs. 33.30 per share. The company also announced a Capex plan of Rs. 8,800 crores over the next 3-4 years, focusing on both brownfield and greenfield expansions, including backward integration projects. https://www.bseindia.com/xml-data/corpfiling/AttachLive/165e2d7a-14a9-4d55-9767-3e36c9ddc92a.pdf |
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