Indian business headlines for September 15, 2023
- NTPC, UPRVUNL sign supplementary JVA to develop 3,880 MW thermal power projects [Rephrased: NTPC and UPRVUNL sign agreement to develop 3,880 MW thermal power projects]
- Tata Power Renewable Energy, Xpro India sign pact for 3.125 MW captive solar plant [Rephrased: Tata Power Renewable Energy and Xpro India sign agreement for 3.125 MW solar plant]
- GMM Pfaudler to acquire Canadian firm MixPro for $7 million [Rephrased: GMM Pfaudler to acquire Canadian mixing solutions firm MixPro for $7 million]
- United Spirits appeals against GST order on royalty income [Rephrased: United Spirits appeals against GST ruling on royalty income]
- Sequent Scientific board approves sale of API facility [Rephrased: Sequent Scientific board approves sale of API plant]
- Gufic Biosciences granted patent for Omadacycline Tosylate composition [Rephrased: Gufic Biosciences granted patent for Omadacycline Tosylate formulation]
- AVG Logistics sees stake sale by Sixth Sense India Opportunities 11, purchase by India Emerging Giants Fund [Rephrased: Sixth Sense India Opportunities 11 sells stake in AVG Logistics, India Emerging Giants Fund buys stake]
- CMS Info Systems sees stake sale by Small Cap World Fund Inc [Rephrased: Small Cap World Fund Inc sells stake in CMS Info Systems]
- Bharat Forge, Paramount to broaden partnership to produce armoured vehicles in India [Rephrased: Bharat Forge, Paramount to expand partnership to produce armoured vehicles in India]
- Strides Pharma Science’s Strides Pharma Global gets tentative USFDA approval for Dolutegravir 50mg tablets [Rephrased: Strides Pharma Science’s Singapore unit gets tentative USFDA approval for Dolutegravir 50mg tablets]
- Patel Engineering bags Rs 249.96 crore irrigation project from Maharashtra Krishna Valley Development Corporation [Rephrased: Patel Engineering bags Rs 249.96 crore irrigation project from Maharashtra Krishna Valley Development Corporation]
- Schneider Electric Infrastructure appoints Udai Singh as MD and CEO [Rephrased: Schneider Electric Infrastructure appoints Udai Singh as MD and CEO]
Related News
- 22 Sep
NBCC shares trade higher on Rs 100 crore work order from SAIL
NBCC shares were trading 3 percent higher on September 22 after the company announced having bagged a work order worth Rs 100 crore from SAIL. This is the fourth order-win announced by the company in this month, the total value of the same being Rs 450 crore. NBCC is a public sector undertaking engaged in the business of construction and real estate development. The company specializes in providing project management, consultancy and engineering services for civil construction, infrastructure development, and real estate projects.
- 22 Sep
Glenmark Pharma stock falls on stake sale in Glenmark Life Sciences
Glenmark Pharma stock fell after the company announced it would sell a 75% stake in its subsidiary Glenmark Life Sciences to Nirma. Analysts expect the stake sale to benefit Glenmark Pharma, as it will transition from a net debt position to a cash surplus position. This is expected to have a positive impact on the company's return ratios over the next two to three years.
- 22 Sep
Berger Paints Shares Hit 52-Week High After Turning Ex-Bonus
Berger Paints shares surged 6% to hit a 52-week high after turning ex-bonus on the record date for the issue of bonus shares in the ratio 1:5. The company posted a net profit of Rs 326.3 crore in the April-June quarter of FY24, up 39% year-on-year, on revenue of Rs 2,739.7 crore, up 10% year-on-year. The company expects to get net cash positive by the end of this fiscal year and expects to end the year with double-digit revenue growth on strong demand outlook.
- 22 Sep
Market Update for September 22, 2023
IdeaForge Tech up 3.4% on order RVNL up 3% on highway MoU JSW Steel up 0.4% on sale ICICI Lombard down 1.6% on CEO exit ICICI Bank down 1% on healthcare investment NHPC up 1.3% on extended additional charge Kalyani Forge up 3.2% on new MD IRB Infra up 2.5% on road project closure
- 22 Sep
Lux Industries Shares Down 3% After Income Tax Raid
Lux Industries shares fell 3% on September 22 after news emerged that the Income Tax department had conducted searches at the company's premises in Kolkata and alleged a tax evasion of Rs 200 crore. The company has confirmed the searches and is extending full support.
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