The board of Tata Consultancy Services, which is scheduled to meet on October 11 to consider July -September quarterly results, will now also consider a proposal for buyback of equity shares of the company.

Abu Dhabi Investment Authority’s arm will invest Rs 4,966.80 crore in Reliance Retail Ventures, subsidiary of Reliance Industries. This investment values Reliance Retail Ventures at a pre-money equity value of Rs 8.381 lakh crore. The investment by ADIA will translate into an equity stake of 0.59 per cent in Reliance Retail Ventures on a fully-diluted basis.

Defence stocks: Defence stocks such as Mazagon Dock Shipbuilders Limited, Hindustan Aeronautics Ltd, High Energy Batteries (India) Ltd, Bharat Dynamics Ltd, Paras Defence and Space Technologies Ltd, ideaForge Technology Ltd, Bharat Earth Movers Limited, Cochin Shipyard Ltd, Data Patterns (India) Ltd, Solar Industries and Taneja Aerospace and Aviation Ltd will be in focus following a conflict in Israel-Gaza. Analysts expect Indian government to step up further spending on Defence and hasten the procurement process for already placed orders.

Bajaj Finserv said that its unlisted insurance subsidiaries Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited have Gross Direct Premium underwritten amount of Rs 11,056.79 crore and Rs 4975.29 crore respectively at the end of September 30.

MCX and MCXCCL on the complaint of Chennai Financial Markets and Accountability (CFMA) regarding the new CDP was submitted to SEBI, after following due process. Subsequently, SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP, developed by Tata Consultancy Services, and to intimate SEBI regarding the proposed date for Go Live. Accordingly, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance.

The Murugappa-group Coromandel International Limited has received notice from GST Authority, Joint Commissioner, Secunderabad, Telangana, imposing penalty amounting to Rs 29,616. In a separate notice to the exchanges, the company said it has received order from Judge, Labour Court / First Class Judicial Magistrate, Valsad, Gujarat, and paid fine of Rs.1 Lakh for and in relation to contravention of Section 7A(2)(c) of the Factories Act, 1948 at its plant at Sarigam, Gujarat.

Bharti Airtel has said that Principal Commissioner of Customs, Delhi Air Customs Commissionerate, has passed an order u/s 28 of Customs Act, 1962 levying penalty of Rs. 9,01,95,504 for alleged incorrect classification of imported goods. The Company will challenge the Order at appellate forum.

“The U.S. Food and Drug Administration (US FDA) has issued a Complete Response Letter (CRL) for the Biocon’s subsidiary Biologics License Application (BLA) for Insulin Aspart. The CRL did not identify any outstanding scientific issues with the product. The CRL references the requirement for a satisfactory resolution of deficiencies from the pre-approval inspection (PAI) of our Malaysia facility for Insulin Aspart, held in August 2022. In February 2023, the Company submitted a report from an independent third-party consultant, providing evidence of CAPA completion and effectiveness. However, the PAI re- inspection was not scheduled prior to the goal date of October 6, 2023.” “The Company will continue to engage with the US FDA for an expeditious resolution and approval of its biosimilar Insulin Aspart application. In a separate notice, the Bengaluru-based biopharmaceutical company has signed a partnership agreement with Juno Pharmaceuticals, a specialty pharmaceutical company in Canada, for the commercialisation of its formulation, Liraglutide.

IDL Explosives Limited (IDLEL), a wholly-owned subsidiary of GOCL Corporation Limited, has bagged order from Coal India Limited, a Maharatna Company of the Government of India. Orders are worth an aggregate amount of Rs.766 crores for supply of Bulk Explosives over a period of 2 years.

The Board of Directors of Nazara Technologies Limited has approved the allotment of 71,42,856 fully paid up Equity Shares of Rs. 4 each, to Kamath Associates, NKSquared (Both Partnership Firm represented by its partners Nikhil Kamath & Nithin Kamath), SBI Multicap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund worth Rs. 510 crore.

Railway Vikas Nigam has received a Letter of Acceptance (LOA) from Maharashtra Metro Rail Corporation Limited for Design and construction of Elevated Metro Viaduct in Reach 2A of NMRP Phase-2. The project is 394.90 crore.

The board of Sofcom Systems has considered, but not finalised a target company for acquisition. The board further considered various options including Swap of shares with respect to consideration, against issuance of fresh fully paid up Equity Shares, to acquire shares of proposed target company. The proposal is under negotiation with the potential target company to arrive at a final consideration price. Board has further proposed to conclude the negotiations as soon as possible.

Rolta India has informed the exchanges that the 13th Meeting of the Committee of Creditors (CoC) has deliberated and deemed fit to explore other options under the framework of Insolvency and Bankruptcy Code, 2016 (Co) for maximising the value realisation. The Plan proposed by the sole Resolution Applicant was rejected by the Resolution Professional and the CoC. The CoC has deliberated and is in the process of considering fresh steps to be taken as per the IBC framework for maximising the value realisation, subject to directions being passed by the National Company Law Tribunal in respect of the application filed seeking extension of time (approved by the CoC by a vote of 87.41%).

The board of NCC has approved an increase of company’s borrowing powers from Rs 20,000 crore to Rs 35,000 crore. Besides. It has also approved reappointment mod ASN Raju as whole time director for an additional 5 years from May 1, 2024.

Shriram Pistons & Rings Limited’s acquisition of 75% shareholding in Takahata Precision India Private Limited (ultimate subsidiary of Takahata Precision Co. Ltd., Japan) through its wholly owned subsidiary SPR Engenious Limited, has been further delayed to November 9, due to unviable commercial reasons The acquision was originally scheduled to be completed on October 9.

Vedanta Limited has incorporated a wholly owned subsidiary Vedanta Aluminium Metal Limited, has been incorporated on October 06, 2023. t

BSE is launching contracts in options on futures in precious metals and energy (WTI crude oil and Brent crude oil) contracts and futures contracts on base metals like copper, zinc, aluminium on October 9. These commodity contracts will provide market participants, particularly corporates, value chain participants and foreign portfolio investors, an efficient way to manage their commodity price risk against volatility.

 The board of Olatech Solutions has approved a bonus issue in the ratio of 17 fully paid -up equity share for every 20 shares held on record date, subject to approval of shareholders in the ensuing general Meeting of Company.

KPI Green Energy has informed the exchange about receiving new orders aggregating to 4.20 MW solar power plant under CPP segment. 

Rishabh Instruments Limited’s material Subsidiary i.e. Lumel Spółka Akcyjna, Zielona Gora, Poland, has won a Project for Co-Financing under Support for Entrepreneurs, SMART Path. The execution of this project will be over the course of next two years. While the total cost of the project is Rs 34.24 crore, the company said eligible cost is Rs 28.37 crore.

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