Vedanta: Billionaire Anil Agarwal-owned Vedanta’s iron & steel sector has ventured into international iron ore mining operations in Liberia, West Africa through its subsidiary Western Cluster (WCL) with the ground-breaking ceremony that was held at the Bomi iron ore mine on June 8. WCL is a wholly owned subsidiary of Bloom Fountain (BFL) which is in turn a wholly owned subsidiary of Vedanta. WCL had signed a Mineral Development Agreement with the Government of Liberia (GoL) for three iron ore mining concessions in Liberia namely Bomi, Bea, and Mano in 2011. However, the operations could not be started due to outbreak of Ebola epidemic.
IIFL Finance: British International Investment PLC (formerly known as CDC Group PLC) offloaded 1.6 crore equity shares in the company via open market transactions on June 10. With this, its shareholding in the company stands reduced to 3.557 percent, down from 7.772 percent earlier. However, as per bulk deals data, MAX Life Insurance Company acquired 24.6 lakh equity shares in the company and Nomura India Investment Fund Mother Fund bought 44,74,548 equity shares at an average price of Rs 325.1 per share.
Krishna Institute of Medical Sciences: Mirae Asset Mutual Fund acquired 1,08,472 equity shares in the company via open market transactions on June 9. With this, its shareholding in the company stands increased to 8.236 percent, up from 8.1 percent earlier.
Lemon Tree Hotels: The company has signed a License Agreement for a 44 room hotel at Gajuwaka, Visakhapatnam, Andhra Pradesh, under its brand ‘Keys Lite by Lemon Tree Hotels’. The hotel is expected to be operational by March, 2023. Carnation Hotels Private Limited, a subsidiary and the hotel management arm of the company will be operating this hotel.
IndInfravit Trust: The company is proposed to acquire the entire equity share capital in five special purpose vehicles, comprising three toll-road infrastructure assets (Simhapuri Expressway, Rayalseema Expressway, Mumbai Nasik Expressway), and two annuity infrastructure assets (Kosi Bridge Infrastructure Company, and Gorakhpur Infrastructure Company), from BIF India Holdings Pte Ltd and Kinetic Holdings I Pte Ltd. Both entities (BIF and Kinetic) being owned by funds managed by Brookfield Asset Management Inc and its affiliates. The payment of proposed transaction is based on a cumulative gross enterprise value of Rs 8,940.9 crore.
Deccan Health Care: The company in its BSE filing said the board on June 13 will discuss allotment of 13,29,750 equity shares of the company on preferential basis to Venture Gurukool Investment Trust for Rs 4.99 crore.
Relicab Cable Manufacturing: The company has approved issue of bonus shares in the ratio of 74 equity shares for every 100 existing shares held by the shareholders. This is subject to the approval of the shareholders of the company.
Ansal Housing: The company has received a notice from Housing Development Finance Corporation (HDFC). HDFC through its notice intimated that if dues are not cleared by the promoters (borrowers) against their personal loans, the HDFC may invoke or sell shares of Ansal Housing as held and pledged by the promoters.
Jammu & Kashmir Bank: The bank said the board has approved the appointment of Pratik D Punjabi as the Chief Financial Officer of the bank.
Astron Paper & Board Mill: The company recorded a sharp fall in consolidated profit at Rs 0.32 crore for the quarter ended March 2022, against profit of Rs 6.8 crore in same period last year, dented by muted revenue and lower other income. Revenue fell to Rs 143.2 crore from Rs 143.8 crore during the same period.
Precision Wires India: The company in its BSE filing said the board has approved additional capital expenditure of Rs 25 crore for capacity enhancement and modernization which will result in further capacity enhancement of about 3000 MT per year at Silvassa unit. This is in addition to already announced implementation of capacity expansion of certain type of winding wire by around 5,000 MT per annum at Silvassa for Rs 40 crore in February this year.