Stock that will see action today: 18 March 2025
Tata Motors has incorporated a WOS, viz., ”Tata Motors Digital.AI Labs Limited”
Bajaj Finserv has signed share purchase agreements (SPAs) with Allianz SE to acquire the German insurer’s 26% stake in their two joint ventures — Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) — for a total consideration of Rs 24,180 crore. The transaction marks the end of a partnership spanning over two decades between the Bajaj Group and Allianz. “In addition, the Board in line with the above decision, also approved acquisition of the entire equity stake held by Allianz in Bajaj Allianz Financial Distributors Limited (BAFDL) a 50:50 joint venture with the Company. Pursuant to the same, the Company would be acquiring 12,00,000 equity shares of face value of INR 10 each in BAFDL for a consideration not exceeding INR 12.5 crore from Allianz. Post the said acquisition, the entire share capital in BAFDL will be held by the Company,” Bajaj Finserv said in an exchange notice.
Moody’s maintained its ‘Ba1’ rating on IndusInd Bank with stable outlook, citing the bank’s strong capital, core profitability and stable funding, but said an upgrade of ratings was unlikely in the near term given the review for a downgrade of the BCA.
The board of Indian Renewable Energy Development Authority (IREDA) has approved raised its borrowing limit by Rs 5,000 crore to Rs 29,200 crore for FY 2024-25. The funds will be raised through corporate bonds, banks, and international investors.
Triveni Engineering and Industries Ltd on Monday (March 17) reported an explosion occurred at the CO2 plant of its Sabitgarh Sugar Unit in Bulandshahr, Uttar Pradesh
Morepen Laboratories has announced the launch of Empamore, a game-changing treatment for Type 2 Diabetes Mellitus (T2DM), Heart Failure with Reduced Ejection Fraction (HFrEF), and Chronic Kidney Disease (CKD). With India being the diabetes capital of the world and over 101 million people suffering from the disease, Empamore is poised to make a significant impact by offering high-quality treatment at an affordable price point, empowering millions of Indians to take control of their health.
Bank of Maharashtra informed the exchanges that it has received an administrative warning from SEBI for not conducting required NRC meetings in FY 2022-23 and 2023-24. The bank has stated that it will take necessary steps to address the issue.
Zota Health Care Limited has received product licence for Azitoz 500 product from the Ministry of Health, Cambodia. The company is expected to export the produce in near term.
IRCON International said that its joint venture Badri Rai and Company has secured an Rs 1,096.17 crore EPC contract from the Directorate of Urban Affairs, Government of Meghalaya.
JM Financial will transfer its private wealth business to its subsidiary, JM Financial Services Ltd, for Rs 11.08 crore, aiming to consolidate its wealth management services.
NBCC India has received a Rs 44.62 crore project management consultancy contract for infrastructure development at the Mahatma Gandhi Institute for Rural Industrialisation in Wardha
The Managing Director and CEO Baskar Babu Ramachandran of Suryoday Small Finance Bank has increased his stake in the bank to 5.18% from 5.04 per cent through an open market purchase of 1,50,000 shares. The promoter group’s holding has risen to 22.44%.
