In News

In News

JSW Energy: Subsidiary JSW Neo Energy has entered into a Memorandum of Understanding with the Government of Maharashtra for setting up a 960 MW capacity of Hydro Pumped Storage Project in Maharashtra. With this MoU, the company has secured resources for ~6 GW hydro PSPs with various states governments.

Atul Auto: The company said the board of directors will meet on October 8 to consider the proposal for raising of funds via rights issue, or preferential issue including a qualified institutions placement.

Sterlite Technologies: The company has completed its divestment of stake in IDS UK. In September 2022, it had entered into definitive documents to sell its stake (through its wholly-owned subsidiary) in Impact Data Solutions, UK (IDS UK) to Hexatronic Group AB.

Tata Steel: The company through subsidiary T S Global Holdings Pte Ltd has completed the divestment of its 19% equity stake in AI Rimal to Tanmia. With this, its shareholding in Al Rimal reduced from 70% to 51%. For the said stake sale, Tata Steel subsidiary had entered into an agreement with Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal.

Godrej Consumer Products: The FMCG company, at a consolidated level, expects to deliver higher than mid single-digit sales growth. It expects close to double digit sales growth ex-Indonesia's Hygiene comparator. On the profitability front, it expect a mid-teen decline in EBITDA due to consumption of high cost materials, significant upfront marketing investments to drive category development, and a weak performance in Indonesia. However, with significant correction in commodities like palm oil derivatives and crude oil, we expect recovery in consumption, gross margins expansion and upfront marketing investments in upcoming quarters.

Jubilant FoodWorks: Subsidiary Jubilant Foodworks Netherlands B.V. acquired additional stake in Netherlands-based DP Eurasia N.V. As on October 3, subsidiary is holding 49.04% stake in DP Eurasia, the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia.