Tata Consumer Products is weighing a non-binding bid for the vending machine business of Coffee Day Enterprises, which is seeking a valuation of about Rs 2,000 crore for the vending machine business. (Bloomberg News).
IT Stocks: Accenture reported fiscal fourth-quarter results ending on Aug.31 for fiscal 2020 that missed analysts' expectations and offered guidance for the new-year (fiscal 2021) that was below views as the Covid-19 pandemic continues to create uncertainty and volatility, the company said.KC McClure, CFO of the company stated in the conference call that he expects growth to be lower in the first half of fiscal 2021 (September 2020-February 2021) and higher growth can be expected in the second half in the range of single digits to low double digits. Revenue in the three months ending Aug. 31 fell 2% to $10.84 billion, while the estimates were for $10.93 billion.
RBI imposed a penalty of Rs 5 lakh on Shriram City Union Finance for non-compliance with directions issued by RBI on verification of the ownership of gold jewellery contained in the company.
Mahindra & Mahindra has increased its stake in Finnish associate company Sampo from 49.14% to 74.97%. Sampo is a European combine harvester company,well-known for mid-sized combine harvesters.
GAIL said that ONGC plant fire has cut 30 MMSCMD gas supply and has cut gas supplies to end-users by 40% citing force majeure. The company stated that it is continuing to maintain supplies for the city gas distribution business. GAIL shops gas from ONGC’s Hazira plant in Gujarat to users and company’s pipeline network has been unharmed by fire. In a separate press release, ONGC stated that the fire in Hazira plant and been extinguished. All efforts are being made to resume normal operations in the plant at the earliest
TCS to help build green-field IT ecosystem for Maurices, which is a women’s fashion-apparel retail chain in the US and Canada.
Nippon Life AMC has received a joint mandate (along with another fund manager) to manage the investments of Post Office Life Insurance Fund and Rural Post Office Life Insurance Fund for a period of three years with effect from Oct.1.
Marico has sold its entire stake in fitness app Revolutionary Fitness (‘Revofit’).
CCI received green channel combination pertaining acquisition of GVK Airport Developers by Adani Airport Holdings. This is the 17th green channel filing.
Balkrishna Industries: Board noted the resignation of Basant Bansal as CFO with effect from Aug. 28. Company’s current President (Financial) Madhu Sudan Bajaj appointed as CFO with effect from Sept. 24.
HUDCO has achieved loan sanctions of Rs 2,607.12 crore and loan releases of Rs 3,277.04 crore, as on Aug. 31 for fiscal 2021.
RITES has been awarded turnkey contract for construction of road over bridges in replacement of existing level crossings on competition basis from Railway Board amounting to Rs. 205.85 crores.
Sadbhav Engineering: Care Ratings downgraded long-term bank facilities to CARE BBB+ from CARE A-, with outlook changing from stable to credit watch with negative implications.
IRB Infra Developers has received completion certificate for Yedeshi Aurangabad BOT project. The company will collect toll at full rates on this project.
Max Ventures & Industries clarified that news on suspicious fund flows by some of the company’s unlisted entities as totally misconceived and baseless.
SEBI levied a fine of Rs 5 lakh on an employee of Biocon for violating insider trading norms while dealing in the scrip of the firm.
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