NTPC: State-owned energy giant NTPC Ltd on Tuesday said its coal production increased 51% year-on-year from its captive mines to 14.55 million tonne (MT) in April-December 2022. “NTPC surpassed its earlier record with a coal production of 14.55 Million Metric Tonnes (MMT) till Dec’22 in this fiscal compared with 9.65 Million Metric Tonnes (MMT) of coal production in the same period of the previous year," the company said in a statement. NTPC captive mines have delivered 60.95 Million Metric Tonnes of coal to more than 22 power plants of NTPC.
Adani Ports: Adani Ports and Special Economic Zones (APSEZ) on Tuesday said the consortium of APSEZ and Israel's Gadot Group (Gadot) has completed the acquisition of Haifa Port Company Ltd (HPC) from the government of Israel. APSEZ in a statement said that the consortium had won the bid for HPC on July 22, 2022. "On July 15, 2022, we announced that the consortium of Adani Ports and Gadot Group (with 70:30 shareholding) had won the competitive bid for the privatisation of HPC at an offer price of NIS 4.1 Bn, equivalent to USD 1.18 Bn.
Tata Motors: Tata Motors has completed the acquisition of Ford India's manufacturing plant at Sanand through its subsidiary, the company informed on Tuesday. Last year, the company informed about the acquisition noting Tata Passenger Electric Mobility Ltd (TPEML) would acquire Gujarat-based Ford India Pvt Ltd (FIPL) for ₹725.7 crore. With the fulfilment of the necessary conditions, including receipt of relevant regulatory approvals, the parties have completed the transaction and TPEML has acquired the Sanand property and the vehicle manufacturing plant and machinery, Tata Motors said in a regulatory filing.
Axis Bank: Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7% stake in Max Life Insurance at fair market value using discounted cash flow method. The revision in the agreement follows the guidance issued by the Insurance Regulatory and Development Authority (IRDAI) in October last year. Axis Bank and its subsidiaries -- Axis Securities and Axis Capital -- had in 2021 entered into definitive agreements with Max Financial Services Ltd for acquiring a 20% stake in its subsidiary Max Life Insurance Co Ltd. Following this, Axis Entities collectively acquired 12.99% of the equity share capital of Max Life.
Adani Wilmar: Adani Group-backed consumer food company, Adani Wilmar has witnessed yet another healthy quarter for the period ending December 31, 2022. The FMCG player saw strong volume growth across all segments in the quarter. Going ahead, the company plans to develop its operating model in HoReCa (Hotels, Restaurants, Caterers) segment to drive sales. As per the regulatory filing, Adani Wilmar posted high-single-digit growth in edible oil volumes, while the growth was in low-single digit in value terms in Q3FY23.
Coal India: Coal India Ltd on Tuesday said that the coal off-take from its subsidiary Mahanadi Coalfields peaked at 146.12 million tonnes (MTs) on 5 January, overtaking the total supplies that the company registered for the full year of FY21. Mahanadi Coalfields (MCL) supplied 146 MTs of coal in FY21. As of the referred date, MCL’s year-on-year growth in supplies was around 11%. It supplied 132 MTs of coal a year ago same period.
Kotak Bank: Kotak Securities has invested ₹5 crore in Bengaluru-based fintech Banksathi by leading its pre-series-A round funding. Kotak Securities in the recent past has made four strategic investments and two acquisitions in the startup space. While it has invested in Stockedge, eLearn Markets, Flipit Money and Multiple, its recent two acquisitions are Tradegyaani and Fundexpert, a company official told PTI. Through its startup investment and partnership team, Kotak Securities has also partnered with over 30 fintechs so far across various segments in capital markets, the official added.
Bharti Airtel: Airtel-backed OneWeb successfully launched and deployed 40 satellites onboard a SpaceX launcher on Monday, January 9, the company confirmed in a statement. The launch was the UK-based satellite network provider’s 16th successful launch, bringing the total number of satellites in its low-Earth orbit (LEO) constellation of satellites up to 542. After the launch, the company said in its statement that internet connectivity based on its satellite constellation is presently active in Alaska, ‘wider Arctic area’, Canada, Greenland and the UK. Services in the US, Australia, the Middle East and Southern Europe will “come online soon", OneWeb further added.
Lupin: Global pharma major Lupin on Tuesday announced that it has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA), Prasugrel tablets for 5 mg and 10 mg, which is a generic equivalent of Effient tablets, 5 mg and 10 mg of Cosette Pharmaceuticals Inc. The product will be manufactured at Lupin's facility in Goa, according to a statement from the pharma firm. Prasugrel tablets of 5 mg and 10 mg had estimated annual sales of USD 18 million in the US, according to IQVIA.
KMC Speciality Hospitals: Kauvery Hospital Chennai, a unit of Kauvery Group of Hospitals, a leading multispecialty healthcare chain in Tamil Nadu, ties up with Aster Med City Kochi to improve Heart and Lung Transplants in South India. Aster Med City is a quaternary healthcare centre in Kochi and one of the largest in South India. It is the flagship hospital of Aster DM Healthcare, a healthcare conglomerate. Through this association with Kauvery Hospital, the organization shall have access to an expert clinical team from Kauvery Hospital to perform heart and lung transplants at their state-of-art facility in Kochi.
