Adani Power: The company said it will seek shareholders' approval for the proposed related-party transaction worth up to ₹5,000 crore with AdaniConnex Pvt Ltd during its annual general meeting on July 27. The transaction involves sale by Adani Power of its SPVs/ subsidiaries.
Tata Motors: The Bombay high court on Tuesday upheld Brihanmumbai Electric Supply & Transport (BEST) undertaking’s decision to disqualify Tata Motors’ bid from supplying electric buses worth ₹2,450 crore.
Biocon: The company's arm Biocon Biologics has said its Bengaluru-based manufacturing plant has received EU GMP certification from Ireland's Health Products Regulatory Authority following a GMP inspection in April.
Marico: The FMCG major has reported a volume decline "in mid-single digits" in its India business during April-June. The performance was particularly dragged by a sharp drop in Saffola Oils. Excluding Saffola Oils, the India business posted marginal volume growth. Parachute Coconut Oil recorded a minor volume decline, said Marico.
Tata Power: The company has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu to invest approximately ₹3,000 crore, for setting up a greenfield 4 gigawatts solar cell and 4 gigawatts solar module manufacturing.
Westlife Development: ICICI Prudential Life Insurance Company has sold 2.02% of its stake in the Indian fast food restaurant holding company, bringing the its shareholding down to 5.13% from from 7.15%.
Hindalco/Vedanta: The two firms and several companies in West Asia, have expressed interest in Coal India’s proposed aluminium project in Odisha, two officials aware of the matter told Mint The world’s biggest coal producer recently invited expressions of interest (EoI) for equity partners in the project that includes bauxite mining, alumina refinery and aluminium and an associated coal preparation plant.
NTPC: The state-owned power major said that its coal output grew by 61% to 42.40 lakh metric tonnes in April-June quarter from 26.40 lakh metric tonnes (MT) in the same period a year ago. Pakri-Barwadih (Jharkhand), Dulanga (Odisha) and Talaipalli (Chhattisgarh) have contributed to achieving the coal production.
Bajaj Finance: The lender has booked 74 lakh new loans in April-June quarter against 46 lakh a year ago. Consolidated core AUM grew 31% toRs 2.04 trillion. Deposits rose 22% to ₹34,100 crore as on 30 June.
Tata Steel: The company said its consolidated steel output remained flat at 7.66 million tonnes (MT) during April-June quarter of the current financial year. The company's consolidated sales during the said period fell 4 per cent to 6.53 MT, from 6.83 MT in the year-ago quarter.
