Rane Madras to set up factory in Mexico
India Business News: Rane (Madras) Limited, an auto component company, is setting up a factory in Mexico to manufacture steering and suspension components for passenger vehicles. Read more about this development and the investment plans in the Mexican subsidiary. Key Points
Times Of IndiaStock Market LIVE: Indices to fall at start as SGX Nifty is trading in the red
Share Market LIVE Updates: Benchmark indices are expected to start on the backfoot on Friday amidst prevailing negative sentiment among global investors. Wall Street dipped sharply on Thursday and Asian stocks are trading lower in the morning session on Friday. Key Points
mintVedanta forms base metals unit
The new subsidiary was incorporated on October 9, and it will have an authorized share capital of ₹100,000 with shares of ₹1 each. Its subscribed capital will also be ₹100,000, with equity shares of ₹1 each. Key Points
Economic TimesStocks in news: Patanjali Foods, Samvardhana Motherson, Indian Oil, Vedanta
Japanese promoter company Sumitomo Wiring Systems will likely sell 3.4% stake in Samvardhana Motherson International Ltd through a block deal on Thursday, according to reports. Key Points
Economic TimesNCLT Hyderabad initiates insolvency proceedings against GVK Gautami Power
New Delhi, Oct 20 (PTI) The Hyderabad bench of National Company Law Tribunal (NCLT) has initiated insolvency proceedings against GVK Gautami Power Ltd, according to a regulatory filing. In the filing, GVK Power & lnfrastructure Ltd (GVKPIL) said GVK Gautami Power Ltd is its step-down subsidiary. “NCLT, Hyderabad bench, during its hearing on October 20 […] Key Points
ThePrint
Airtel arm penalised for alleged irregularity in claiming input tax credit: Filing
According to the filing, the penalty has been levied for alleged irregular input tax credit claimed during the financial year 2018-19 on the company's subsidiary Telesonic Networks. The company received the order on March 30. Key Points
Economic TimesCaratLane to turn wholly-owned arm of Titan with purchase of 0.4% stake
As of date, CaratLane is a subsidiary of Titan wherein it holds a 99.64% stake. The completion of the aforesaid share purchase would result in CaratLane becoming a wholly-owned subsidiary of the company. Key Points
Economic TimesAhead of US hearing, Byju's says it is beneficial owner of $533 million fund parked in US
On Saturday, Byju's stated that it had no money to pay salaries to employees after just-raised funds through the rights issue were locked (in a separate account) after a dispute with investors. It is not clear if Byjus is the beneficial owner of $533 million, then why it could not use them for paying salaries. Key Points
Economic TimesFoxconn India to spend Rs 1,200 cr to build a factory, scale up operations
Foxconn plans to invest ₹1200 crore in a factory in India through its subsidiary, Hon Hai Technology India Mega Development. The investment is aimed at 'operational needs', following previous reports of Foxconn investing over $1.5 billion in an Indian construction project. Key Points
Economic TimesNova Agritech shares list at 37% premium over IPO price
Nova Agritech listed on exchanges with a 36.6% premium, debuting at Rs 56 on BSE and Rs 55 on NSE. The IPO received over 100 times subscription as non-institutional and institutional investors bid heavily. The company's solid financial track record and impressive ROE of 32.1% attracted analysts. Proceeds from the IPO will be used for subsidiary investment, capex, working capital, and investment in Nova Agri Sciences. Nova Agri Sciences contributes significantly to Nova Agritech's revenue by manufacturing crop protection products. Key Points
Economic Times
Indian Bank to strengthen cyber system
India Business News: Indian Bank is investing Rs 200 crore to upgrade its cyber system using AI and ML. The bank aims to exceed Rs 70,000 crore in digital transactions. Launching a wholly owned subsidiary for various purposes. Key Points
Times Of IndiaTVS Supply Chain Solutions sells Circle Express for Rs 21 crore
New Delhi, Sep 29 (PTI) TVS Supply Chain Solutions Ltd on Friday said its wholly-owned arm RICO Logistics Ltd has sold the entire stake in subsidiary Circle Express Ltd, UK, for 2.1 million pounds (about Rs 21.32 crore). The move is designed to boost the company’s profitability and sharpen its focus on core offerings to […] Key Points
ThePrintVedanta raises Rs 2,500 crore through unlisted NCDs
Vedanta Ltd, the Indian subsidiary of Vedanta Resources, has raised ₹2,500 crore through non-convertible debentures with an interest rate of 12%. The funds will be used for capital expenditure or loan repayment. Vedanta Resources, the parent company, has been downgraded by S&P Global Ratings due to debt issues and a funding gap of $600 million. Key Points
Economic TimesReliance Industries announces completion of Radisys-Mimosa acquisition
Jio Platforms, owned by Reliance Industries, has completed the acquisition of Mimosa Networks, a US-based communication equipment maker, for $60m through its wholly-owned subsidiary Radisys Corporation. The acquisition will allow Jio to strengthen its 5G and broadband services using Mimosa's point-to-point and point-to-multi-point products. Key Points
Economic TimesStocks in news: TCS, ICICI Securities, BPCL, Adani Enterprises, SBI Life
Promoter company Housing Development Finance Corp (HDFC) has further bought 0.77% stake in its subsidiary HDFC Life through bulk deals on Wednesday. Key Points
Economic Times
Stocks in news: Adani Enterprises, Infosys, Info Edge, Aditya Birla Capital, Coal India
Info Edge's subsidiary AIPL has given out a loan of Rs 288 crore to a broker network company 4B Networks. The loan is currently impaired. AIPL has initiated a forensic audit into the affairs of 4B Networks. Key Points
Economic TimesTCS, Adani Enterprises, Sula Vineyards, LIC, HDFC Bank, ONGC stocks in focus
The Nifty futures on the Singapore Exchange were trading 6 pts or 0.03% higher at 17793 in the early morning trade. Key Points
FinancialexpressAdani Enterprises, Adani Power, Adani Wilmar, TCS, Zee, M&M, SAIL stocks in focus
Domestic equity indices BSE Sensex and NSE Nifty are likely to open in the green on Friday, hinted SGX Nifty. Adani Enterprises, Adani Power, Adani Wilmar, TCS, Zee, M&M, SAIL stocks in focus today. Key Points
Financialexpress