nifty Futures were trading 7.5 points, or 0.05 per cent, higher at 15,730 on the Singapore Exchange, indicating that Dalal Street was headed for a muted start on Friday. The market closed its rangebound session on a negative note, extending losses for the second consecutive day in the previous session, the monthly expiry day for June futures and options contracts. Improvements in global counterparts also weighed on sentiment. BSE Sensex Falling eight points to 53,019, while Nifty 50 fell 19 points to 15,780.
Phoenix Mills
The Company, RZPL and each of the subsidiaries of PML (viz. Offbeat Developers-ODPL, Graceworks Realty and Leisure-GRLPL and Vamona Developers-VDPL) have entered into an Additional Membership Agreement. Subsequently, GIC (Realty)-owned Reco Zinnia (RZPL) completed its second tranche of investment of Rs 400 crore by subscribing to equity shares of each of PML’s subsidiary companies on private placement basis in ODPL, VDPL and GRLPL Is. As a result, Phoenix Mills (PML) and RZPL each hold 67.10 per cent and 32.90 per cent stake in each of the PML subsidiaries.
Globus Spirits
GSL will provide various services ranging from engineering to ongoing operation, maintenance and marketing services for the distillery properties owned by Tilaknagar Industries. It has entered into an arrangement of strategic, technical, manufacturing and marketing tie-up with the objective of offering an integrated service to operate the plant at the envisaged rated capacity of 140 KLPD distillery assets owned by TIL located at Ahmednagar, Maharashtra. The company will get the service charge as part of the EBITDA generated from the assets of the distillery.
UPL
The company has acquired 100 per cent stake in Nature Bliss Agro (NBAL) and accordingly, NBAL has become a wholly owned subsidiary of the company. NBAL proposes to undertake the business of manufacturing and selling of crop protection and allied products, which is in sync with the existing business activities of UPL.
auto stock
Automobile manufacturers, whether two-wheelers or four-wheelers, will report the number of units sold for the month of June 2022. auto Companies essentially share the previous month’s monthly sales data on the first of every new month.
Bharti Airtel
The telecom operator said it has opted to defer the payment of AGR dues till FY 2018-19, which is not tabulated in the Supreme Court order, for up to four years. It has retained the right to pre-pay the installment amount and will not avail the option of converting the interest payable amount into equity.
Indian Bank
The state-owned lender has increased the marginal cost of funds based lending rates (MCLR) by 0.15 per cent with effect from Sunday. The benchmark one-year tenor MCLR – against which most consumer loans are based – will be 7.55 per cent against the current 7.40 per cent.
lupine
The pharma company has received approval from the US FDA for its Abbreviated New Drug Application (ANDA)-Paliperidone Extended-Release Tablets. This medication is a generic equivalent of Janssen Research & Development, LLC’s Invega extended-release tablets. The product will be manufactured at Lupine’s facility in Goa. According to IQVIA MAT March 2022 data, the drug had estimated annual sales of $152 million in the US. This medication is used in the treatment of schizophrenia, a mental disorder.
Hindustan Unilever
HUL in its BSE filing said that its CEO and Managing Director, Sanjiv Mehta will be appointed as the Chairman (Non-Executive Chairman) of PT Unilever Indonesia TBK (Unilever Indonesia), a public company and member of the Unilever Group. He will continue to be the Chief Executive Officer and Managing Director of HUL and the Chairman of Unilever South Asia.
blue star
CARE has reaffirmed its long-term and short-term ratings on credit facilities and non-convertible debentures at AA+, but revised the outlook from ‘negative’ to ‘stable’ based on healthy recovery and demand for air conditioning and refrigeration products . Reduction in the second wave of the pandemic and the resultant improvement in operational and financial performance for FY12.
Kridhan Infra
Rajshree Indradev has resigned as the Chief Financial Officer of the company on June 30. The company is in the process of identifying or recruiting fresh person for the vacant position.
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