In News

In News

Tata Motors: The commercial and passenger vehicle maker has received in-principle approval from the board of directors to explore the possibility of partial divestment of its investment in subsidiary Tata Technologies [TTL] through an IPO route at an opportune time. The company will make further announcements of all material developments relating to IPO.

KEC International: The infrastructure EPC major has received orders worth Rs 1,349 crore across its various businesses. The transmission & distribution business has secured orders for T&D projects in India, SAARC, Middle East and Americas, while the business has bagged orders for building a data centre and for infra works in the Hydrocarbon segment in India.

Mahindra CIE Automotive: The auto ancillary firm has acquired 27.35 percent equity stake in Strongsun Solar for Rs 2.4 crore. The investment in Strongsun will help the company optimize the power cost and increase the consumption of green energy at its various power intensive plants.

V-Guard Industries: Kochi-based consumer electrical and electronics company has signed definitive agreements for acquiring 100 percent stake in Sunflame Enterprises (SEPL) for Rs 660 crore, on a cash-free, debt-free basis. The transaction is expected to close by mid of January 2023.

BGR Energy Systems: The company has received orders worth Rs 330 crore from Indian Oil Corporation. The order includes construction of civil and structural works in Panipat refinery project complex. The contract completion period is 18 months.

GR Infraprojects: The company has entered into Share Purchase Agreement with Lokesh Builders for transfer of entire shares being held by the company in its subsidiary GR Highways Investment Manager (GHIMPL). After the transfer, GHIMPL would cease to be subsidiary of the company. The transaction cost is Rs 15 crore.

Ethos: Promoter Yashovardhan Saboo sold 50,000 shares in the company via open market transactions, at an average price of Rs 1,022.94 per share on December 12, reducing shareholding from 0.86 percent to 0.64 percent. Promoter entity Dream Digital Technology sold 62,885 shares at an average price of Rs 1,016.28 per share on December 9, lowering shareholding from 0.27 percent to 0 percent.