Nifty futures on the Singapore Exchange traded 106 points, or 0.67 per cent, higher at 15,872, signaling that Dalal Street was headed for a positive start on Wednesday. The market seemed to have given a false upside breakout in the previous session as the Nifty50 surpassed 15,900 in the opening and then 16,000 as well but failed to hold on to both levels due to profit booking in the latter part of the session, registering a bearish candle on the daily charts as the closing was lower than opening levels. The BSE Sensex fell 100 points to 53,134, and the Nifty50 declined 25 points to 15,811.
Subsidiary Biocon Biologics has received EU GMP certificate from the Health Products Regulatory Authority (HPRA), Ireland, for its new monoclonal antibodies (mAbs) drug substance manufacturing facility (B3) at Biocon Park, Bengaluru. This is after the good manufacturing practice (GMP) inspection conducted in April 2022 by the said authority.
Tata Consultancy Services
The IT major has been selected by Finnish stainless steel company Outokumpu to transform its IT landscape with an agile and secure cloud-based digital core to reduce its carbon footprint and support its strategic aspirations.
Adani Ports and Special Economic Zone
The Adani group’s shipping major will seek shareholders’ nod this month for the reappointment of Gautam S Adani as its Managing Director. It will also seek the approval of shareholders for the reappointment of Karan Adani as the whole-time Director for a period of five years with effect from May 24, 2022.
The mortgage lender said it has partnered with software firm Salesforce to support the company’s growth priorities. HDFC wanted to build the next generation of integration backbone, to easily connect backend and frontend systems including Salesforce.
The steel major said its consolidated steel output remained flat at 7.66 million tonnes (MT) during April-June quarter of the current financial year. The company produced 7.65 MT of steel in the same quarter of the previous fiscal.
The company has acquired 60,81,946 equity shares or 62.65 per cent stake in Saankhya at a price of Rs 454.19 per equity share. The transaction cost is Rs 276.24 crore. After the said acquisition, Saankhya has become a subsidiary of the company.
KPI Green Energy
The company has received the biggest order for executing solar power project of 23.60 MWdc capacity from Nouveau Jewellery LLP and 3 MWdc capacity from Nouveau Diamonds Manufacturing India LLP. The order is under ‘captive power producer (CPP)’ segment of the company.
The company has received an order worth over Rs 105 crore from National Council of Educational Research and Training (NCERT). The company will supply 11,000 tons of Maplitho paper of 80 GSM in sheets and reels for printing of text books.
Tide, the UK’s leading SME-focused business financial platform that began setting up operations in India in 2020, has partnered with Transcorp International, an Authorised Dealer Category II and perpetual Prepaid Payment Instrument (PPI) license holder. They will launch co-branded prepaid cards (Tide Expense Card) as an entry product. Tide will offer payment services to small businesses across India, starting with a Tide business account, accompanied by a Tide Expense Card.
The company has completed the sale of its entire shareholding in its subsidiary, Equitas Technologies (ETPL). With this, the company complied with the condition stated by RBI as part of its no objection letter for the amalgamation of Equitas Holdings with Equitas Small Finance Bank. Consequently, ETPL has ceased to be a subsidiary of the company.
J Kumar Infraprojects
The company has received a Letter of Acceptance from Brihanmumbai Municipal Corporation, for design, build, and commissioning of priority sewer tunnel-Phase I from Don Bosco to New Malad IPS with segment lining method in Mumbai. The project cost is Rs 571.01 crore. J Kumar lnfraprojects in joint venture with Michigan Engineers bagged this project with 60:40 proportion.
India business volumes in Q1FY23 declined in mid-single digits, particularly dragged by a sharp drop in Saffola Oils, while Parachute coconut oil recorded a minor volume decline. Value-added hair oils grew in low single digits in value terms despite weak consumption sentiment, especially in rural. The International business maintained its strong momentum, delivering high-teen constant currency growth. Consolidated revenue in the quarter ended June 2022 was marginally higher on a year-on-year basis.
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